Cover Page
Cover Page - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2019 | Feb. 07, 2020 | Jun. 30, 2019 | |
Cover page. | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2019 | ||
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 per share | ||
Trading Symbol | IRM | ||
Security Exchange Name | NYSE | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 8.9 | ||
Entity Common Stock, Shares Outstanding | 287,343,251 | ||
Documents Incorporated by Reference | DOCUMENTS INCORPORATED BY REFERENCE Certain information required in Items 10, 11, 12, 13 and 14 of Part III of this Annual Report on Form 10-K (the "Annual Report") is incorporated by reference from our definitive Proxy Statement for our 2020 Annual Meeting of Stockholders (our "Proxy Statement") to be filed with the Securities and Exchange Commission (the "SEC") within 120 days after the close of the fiscal year ended December 31, 2019 . | ||
Entity Central Index Key | 0001020569 | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Current Assets: | ||
Cash and cash equivalents | $ 193,555 | $ 165,485 |
Accounts receivable (less allowances of $42,856 and $43,584 as of December 31, 2019 and 2018, respectively) | 850,701 | 846,889 |
Prepaid expenses and other | 192,083 | 195,740 |
Total Current Assets | 1,236,339 | 1,208,114 |
Property, Plant and Equipment: | ||
Property, plant and equipment | 8,048,906 | |
Less—Accumulated depreciation | (3,425,869) | |
Property, Plant and Equipment, net | 4,623,037 | |
Property, plant and equipment | 8,048,906 | 7,600,949 |
Less—Accumulated depreciation | (3,425,869) | (3,111,392) |
Property, Plant and Equipment, net | 4,489,557 | |
Other Assets, Net: | ||
Goodwill | 4,485,209 | 4,441,030 |
Customer relationships, customer inducements and data center lease-based intangibles | 1,393,183 | 1,506,522 |
Operating lease right-of-use assets (see Note 2.m.) | 1,869,101 | 0 |
Other | 209,947 | 211,995 |
Total Other Assets, Net | 7,957,440 | 6,159,547 |
Total Assets | 13,816,816 | 11,857,218 |
Current Liabilities: | ||
Current portion of long-term debt | 389,013 | 126,406 |
Accounts payable | 324,708 | 318,765 |
Accrued expenses and other current liabilities (includes current portion of operating lease liabilities, see Note 2.m.) | 961,752 | 780,781 |
Deferred revenue | 274,036 | 264,823 |
Total Current Liabilities | 1,949,509 | 1,490,775 |
Long-term Debt, net of current portion | 8,275,566 | 8,016,417 |
Long-term Operating Lease Liabilities, net of current portion (see Note 2.m.) | 1,728,686 | 0 |
Other Long-term Liabilities | 143,018 | 111,331 |
Deferred Rent (see Note 2.m.) | 0 | 121,864 |
Deferred Income Taxes | 188,128 | 183,836 |
Commitments and Contingencies (see Note 10) | ||
Redeemable Noncontrolling Interests (see Note 2.v.) | 67,682 | 70,532 |
Iron Mountain Incorporated Stockholders' 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 287,299,645 shares and 286,321,009 shares as of December 31, 2019 and 2018, respectively) | 2,873 | 2,863 |
Additional paid-in capital | 4,298,566 | 4,263,348 |
(Distributions in excess of earnings) Earnings in excess of distributions | (2,574,896) | (2,139,493) |
Accumulated other comprehensive items, net | (262,581) | (265,664) |
Total Iron Mountain Incorporated Stockholders' Equity | 1,463,962 | 1,861,054 |
Noncontrolling Interests | 265 | 1,409 |
Total Equity | 1,464,227 | 1,862,463 |
Total Liabilities and Equity | $ 13,816,816 | $ 11,857,218 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Statement of Financial Position [Abstract] | ||
Accounts receivable, allowances | $ 42,856 | $ 43,584 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, authorized shares | 10,000,000 | 10,000,000 |
Preferred stock, issued shares | 0 | 0 |
Preferred stock, outstanding shares | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, authorized shares | 400,000,000 | 400,000,000 |
Common stock, issued shares | 287,299,645 | 286,321,009 |
Common stock, outstanding shares | 287,299,645 | 286,321,009 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | Oct. 01, 2017 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Revenues: | ||||||||||||
Storage rental | $ 2,681,087 | |||||||||||
Revenues | $ 1,061,489 | $ 1,060,991 | $ 1,060,823 | $ 1,042,458 | $ 4,225,761 | $ 3,845,578 | ||||||
Total Revenues | $ 1,079,590 | $ 1,062,224 | $ 1,066,907 | $ 1,053,863 | 4,262,584 | |||||||
Operating Expenses: | ||||||||||||
Cost of sales (excluding depreciation and amortization) | 1,833,315 | 1,793,954 | 1,664,825 | |||||||||
Selling, general and administrative | 991,664 | 1,006,983 | 937,180 | |||||||||
Depreciation and amortization | 658,201 | 639,514 | 522,376 | |||||||||
Significant Acquisition Costs (see Note 2.x.) | 13,293 | 50,665 | 84,901 | |||||||||
Restructuring Charges (see Note 14) | 48,600 | 48,597 | 0 | 0 | ||||||||
Intangible impairments | $ 3,011 | 0 | 0 | 3,011 | ||||||||
(Gain) Loss on disposal/write-down of property, plant and equipment, net | (63,824) | (73,622) | (766) | |||||||||
Total Operating Expenses | 3,481,246 | 3,417,494 | 3,211,527 | |||||||||
Operating (Loss) Income | 206,074 | 223,474 | 193,115 | 158,675 | 254,053 | 195,635 | 201,460 | 157,119 | 781,338 | 808,267 | 634,051 | |
Interest Expense, Net (includes Interest Income of $6,559, $6,553 and $7,659 in 2019, 2018 and 2017, respectively) | 419,298 | 409,648 | 353,645 | |||||||||
Other Expense (Income), Net | 33,898 | (11,692) | 79,429 | |||||||||
Income (Loss) from Continuing Operations Before Provision (Benefit) for Income Taxes | 328,142 | 410,311 | 200,977 | |||||||||
Provision (Benefit) for Income Taxes | 59,931 | 42,753 | 22,962 | |||||||||
Income (Loss) from Continuing Operations | 37,104 | 108,284 | 92,347 | 30,476 | 158,557 | 77,349 | 92,263 | 39,389 | 268,211 | 367,558 | 178,015 | |
Income (Loss) from Discontinued Operations, Net of Tax | 0 | 0 | 128 | (24) | 0 | (11,605) | (360) | (462) | 104 | (12,427) | (6,291) | |
Net Income (Loss) | 37,104 | 108,284 | 92,475 | 30,452 | 158,557 | 65,744 | 91,903 | 38,927 | 268,315 | 355,131 | 171,724 | |
Less: Net Income (Loss) Attributable to Noncontrolling Interests | 938 | 1,198 | 1,611 | |||||||||
Net Income (Loss) Attributable to Iron Mountain Incorporated | $ 37,700 | $ 107,675 | $ 92,441 | $ 29,561 | $ 157,844 | $ 65,869 | $ 91,761 | $ 38,459 | $ 267,377 | $ 353,933 | $ 170,113 | |
Earnings (Losses) per Share—Basic: | ||||||||||||
Income (Loss) from Continuing Operations (in dollars per share) | $ 0.13 | $ 0.37 | $ 0.32 | $ 0.10 | $ 0.55 | $ 0.27 | $ 0.32 | $ 0.14 | $ 0.93 | $ 1.28 | $ 0.66 | |
Total (Loss) Income from Discontinued Operations, Net of Tax (in dollars per share) | 0 | 0 | 0 | 0 | 0 | (0.04) | 0 | 0 | 0 | (0.04) | (0.02) | |
Net Income (Loss) Attributable to Iron Mountain Incorporated (in dollars per share) | 0.13 | 0.37 | 0.32 | 0.10 | 0.55 | 0.23 | 0.32 | 0.13 | 0.93 | 1.24 | 0.64 | |
Earnings (Losses) per Share—Diluted: | ||||||||||||
Income (Loss) from Continuing Operations (in dollars per share) | 0.13 | 0.37 | 0.32 | 0.10 | 0.55 | 0.27 | 0.32 | 0.14 | 0.93 | 1.28 | 0.66 | |
Total (Loss) Income from Discontinued Operations, Net of Tax (in dollars per share) | 0 | 0 | 0 | 0 | 0 | (0.04) | 0 | 0 | 0 | (0.04) | (0.02) | |
Net Income (Loss) Attributable to Iron Mountain Incorporated (in dollars per share) | $ 0.13 | $ 0.37 | $ 0.32 | $ 0.10 | $ 0.55 | $ 0.23 | $ 0.32 | $ 0.13 | $ 0.93 | $ 1.23 | $ 0.64 | |
Weighted Average Common Shares Outstanding-Basic (in shares) | 286,971,000 | 285,913,000 | 265,898,000 | |||||||||
Weighted Average Common Shares Outstanding-Diluted (in shares) | 287,686,944 | 286,652,588 | 266,844,584 | |||||||||
Storage rental | ||||||||||||
Revenues: | ||||||||||||
Revenues | $ 2,622,455 | $ 2,377,557 | ||||||||||
Service | ||||||||||||
Revenues: | ||||||||||||
Revenues | $ 1,581,497 | $ 1,603,306 | $ 1,468,021 |
CONSOLIDATED STATEMENTS OF OP_2
CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Statement [Abstract] | |||
Interest Income | $ 6,559 | $ 6,553 | $ 7,659 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of Comprehensive Income [Abstract] | |||||||||||
Net Income (Loss) | $ 37,104 | $ 108,284 | $ 92,475 | $ 30,452 | $ 158,557 | $ 65,744 | $ 91,903 | $ 38,927 | $ 268,315 | $ 355,131 | $ 171,724 |
Other Comprehensive Income (Loss): | |||||||||||
Foreign Currency Translation Adjustment | 11,994 | (164,107) | 108,564 | ||||||||
Change in Fair Value of Derivative Instruments | (8,783) | (973) | |||||||||
Total Other Comprehensive Income (Loss) | 3,211 | (165,080) | 108,564 | ||||||||
Comprehensive Income (Loss) | 271,526 | 190,051 | 280,288 | ||||||||
Comprehensive Income (Loss) Attributable to Noncontrolling Interests | 1,066 | (2,207) | 1,591 | ||||||||
Comprehensive Income (Loss) Attributable to Iron Mountain Incorporated | $ 270,460 | $ 192,258 | $ 278,697 |
CONSOLIDATED STATEMENTS OF EQUI
CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands | Total | Common Stock | Additional Paid-in Capital | Earnings in Excess of Distributions (Distributions in Excess of Earnings) | Accumulated Other Comprehensive Items, Net | Noncontrolling Interests | Redeemable Noncontrolling Interests | Equity Offering | Equity OfferingCommon Stock | Equity OfferingAdditional Paid-in Capital | Over-Allotment Option | Over-Allotment OptionCommon Stock | Over-Allotment OptionAdditional Paid-in Capital | At The Market (ATM) Equity Program | At The Market (ATM) Equity ProgramCommon Stock | At The Market (ATM) Equity ProgramAdditional Paid-in Capital |
Stockholders' equity, beginning balance at Dec. 31, 2016 | $ 1,936,671 | $ 2,636 | $ 3,489,795 | $ (1,343,311) | $ (212,573) | $ 124 | ||||||||||
Balance (in shares) at Dec. 31, 2016 | 263,682,670 | |||||||||||||||
Increase (Decrease) in Stockholders' Equity | ||||||||||||||||
Issuance of shares under employee stock purchase plan and option plans and stock-based compensation | 43,110 | $ 13 | 43,097 | |||||||||||||
Issuance of shares under employee stock purchase plan and option plans and stock-based compensation (in shares) | 1,252,823 | |||||||||||||||
Issuance of shares | $ 515,952 | $ 145 | $ 515,807 | $ 58,566 | $ 15 | $ 58,551 | ||||||||||
Issuance of shares (in shares) | 14,500,000 | 1,481,053 | ||||||||||||||
Issuance of shares in connection with the Fortrust Transaction (see Note 6) | 83,014 | $ 22 | 82,992 | |||||||||||||
Issuance of shares in connection with the Fortrust Transaction (see Note 6) (in shares) | 2,193,637 | |||||||||||||||
Change in value of redeemable noncontrolling interests (see Note 2.v.) | (25,680) | (25,680) | $ 25,680 | |||||||||||||
Parent cash dividends declared | (606,476) | (606,476) | ||||||||||||||
Foreign currency translation adjustment | 108,481 | 108,584 | (103) | |||||||||||||
Net income (loss) | 171,945 | |||||||||||||||
Net Income (Loss) | 171,724 | 170,113 | 1,832 | |||||||||||||
Noncontrolling interests equity contributions | 13,230 | |||||||||||||||
Noncontrolling interests dividends | (1,956) | (1,956) | ||||||||||||||
Purchase of noncontrolling interests | 1,507 | 1,507 | ||||||||||||||
Stockholders' equity, ending balance at Dec. 31, 2017 | 2,285,134 | $ 2,831 | 4,164,562 | (1,779,674) | (103,989) | 1,404 | ||||||||||
Balance (in shares) at Dec. 31, 2017 | 283,110,183 | |||||||||||||||
Balance at Dec. 31, 2016 | 54,697 | |||||||||||||||
Increase (Decrease) in Temporary Equity [Roll Forward] | ||||||||||||||||
Foreign currency translation adjustment | 83 | |||||||||||||||
Net income (loss) | (221) | |||||||||||||||
Noncontrolling interests dividends | (2,051) | |||||||||||||||
Balance at Dec. 31, 2017 | 91,418 | |||||||||||||||
Increase (Decrease) in Stockholders' Equity | ||||||||||||||||
Cumulative-effect adjustment for adoption | ASU 2014-09 | (30,233) | (30,233) | ||||||||||||||
Issuance of shares under employee stock purchase plan and option plans and stock-based compensation | 30,020 | $ 8 | 30,012 | |||||||||||||
Issuance of shares under employee stock purchase plan and option plans and stock-based compensation (in shares) | 762,340 | |||||||||||||||
Issuance of shares | $ 76,192 | $ 22 | $ 76,170 | $ 8,716 | $ 2 | $ 8,714 | ||||||||||
Issuance of shares (in shares) | 2,175,000 | 273,486 | ||||||||||||||
Change in value of redeemable noncontrolling interests (see Note 2.v.) | (16,110) | (16,110) | (16,151) | |||||||||||||
Parent cash dividends declared | (683,519) | (683,519) | ||||||||||||||
Foreign currency translation adjustment | (160,548) | (160,702) | 154 | |||||||||||||
Change in fair value of derivative instruments | (973) | (973) | ||||||||||||||
Net income (loss) | 353,784 | |||||||||||||||
Net Income (Loss) | 355,131 | 353,933 | (149) | |||||||||||||
Noncontrolling interests dividends | 0 | |||||||||||||||
Stockholders' equity, ending balance at Dec. 31, 2018 | $ 1,862,463 | $ 2,863 | 4,263,348 | (2,139,493) | (265,664) | 1,409 | ||||||||||
Balance (in shares) at Dec. 31, 2018 | 286,321,009 | 286,321,009 | ||||||||||||||
Increase (Decrease) in Temporary Equity [Roll Forward] | ||||||||||||||||
Foreign currency translation adjustment | (3,559) | |||||||||||||||
Net income (loss) | 1,347 | |||||||||||||||
Noncontrolling interests dividends | (2,523) | |||||||||||||||
Balance at Dec. 31, 2018 | $ 70,532 | 70,532 | ||||||||||||||
Increase (Decrease) in Stockholders' Equity | ||||||||||||||||
Cumulative-effect adjustment for adoption | ASU 2016-02 | 5,781 | 5,781 | ||||||||||||||
Issuance of shares under employee stock purchase plan and option plans and stock-based compensation | 36,682 | $ 10 | 36,672 | |||||||||||||
Issuance of shares under employee stock purchase plan and option plans and stock-based compensation (in shares) | 978,636 | |||||||||||||||
Change in value of redeemable noncontrolling interests (see Note 2.v.) | (1,454) | (1,454) | (3,136) | |||||||||||||
Parent cash dividends declared | (708,561) | (708,561) | ||||||||||||||
Foreign currency translation adjustment | 11,866 | 11,866 | ||||||||||||||
Change in fair value of derivative instruments | (8,783) | (8,783) | ||||||||||||||
Net income (loss) | 266,233 | |||||||||||||||
Net Income (Loss) | 268,315 | 267,377 | (1,144) | |||||||||||||
Stockholders' equity, ending balance at Dec. 31, 2019 | $ 1,464,227 | $ 2,873 | $ 4,298,566 | $ (2,574,896) | $ (262,581) | $ 265 | ||||||||||
Balance (in shares) at Dec. 31, 2019 | 287,299,645 | 287,299,645 | ||||||||||||||
Increase (Decrease) in Temporary Equity [Roll Forward] | ||||||||||||||||
Foreign currency translation adjustment | 128 | |||||||||||||||
Net income (loss) | 2,082 | |||||||||||||||
Noncontrolling interests dividends | (1,924) | |||||||||||||||
Balance at Dec. 31, 2019 | $ 67,682 | $ 67,682 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash Flows from Operating Activities: | |||
Net Income (Loss) | $ 268,315 | $ 355,131 | $ 171,724 |
(Income) loss from discontinued operations | (104) | 12,427 | 6,291 |
Adjustments to reconcile net income (loss) to cash flows from operating activities: | |||
Depreciation | 456,323 | 452,740 | 406,283 |
Amortization (includes amortization of deferred financing costs and discounts of $16,740, $15,675 and $14,962 in 2019, 2018 and 2017, respectively) | 218,618 | 202,449 | 131,055 |
Intangible impairments | 0 | 0 | 3,011 |
Revenue reduction associated with amortization of permanent withdrawal fees and above- and below-market leases (see Note 2.i.) | 13,703 | 16,281 | 11,253 |
Stock-based compensation expense | 35,654 | 31,167 | 30,019 |
(Benefit) provision for deferred income taxes | (624) | (4,239) | (39,355) |
Debt extinguishment expense, net | 0 | 0 | 78,368 |
(Gain) loss on disposal/write-down of property, plant and equipment, net | (63,824) | (74,134) | (766) |
Gain on Russia and Ukraine Divestment (see Note 13) | 0 | 0 | (38,869) |
Foreign currency transactions and other, net | 29,838 | (16,395) | 50,503 |
Decrease (increase) in assets | 5,404 | (36,054) | (93,805) |
Increase (decrease) in liabilities | 3,352 | (2,829) | 8,547 |
Cash Flows from Operating Activities-Continuing Operations | 966,655 | 936,544 | 724,259 |
Cash Flows from Operating Activities-Discontinued Operations | 0 | (995) | (3,291) |
Cash Flows from Operating Activities | 966,655 | 935,549 | 720,968 |
Cash Flows from Investing Activities: | |||
Capital expenditures | (692,983) | (460,062) | (343,131) |
Cash paid for acquisitions, net of cash acquired (see Note 6) | (58,237) | (1,758,557) | (219,705) |
Acquisition of customer relationships | (46,105) | (63,577) | (55,126) |
Customer inducements (see Note 2.i.) | (9,371) | (8,902) | (20,059) |
Customer fulfillment costs and third party commissions (see Note 2.l.) | (76,171) | (26,208) | 0 |
Net proceeds from divestments (see Note 13) | 0 | 1,019 | 29,236 |
Investments in Joint Ventures (see Note 13) | (19,222) | 0 | 0 |
Proceeds from sales of property and equipment and other, net (including real estate) and proceeds from involuntary conversion of property and equipment | 166,143 | 86,159 | 9,337 |
Cash Flows from Investing Activities-Continuing Operations | (735,946) | (2,230,128) | (599,448) |
Cash Flows from Investing Activities-Discontinued Operations | 5,061 | 8,250 | 0 |
Cash Flows from Investing Activities | (730,885) | (2,221,878) | (599,448) |
Cash Flows from Financing Activities: | |||
Repayment of revolving credit and term loan facilities and other debt | (14,535,115) | (14,192,139) | (14,429,695) |
Proceeds from revolving credit and term loan facilities and other debt | 14,059,818 | 15,351,614 | 13,917,055 |
Early retirement of senior subordinated and senior notes | 0 | 0 | (1,746,856) |
Net proceeds from sales of senior notes | 987,500 | 0 | 2,656,948 |
Debt financing and equity contribution from noncontrolling interests | 0 | 0 | 13,230 |
Debt repayment and equity distribution to noncontrolling interests | (1,924) | (2,523) | (4,151) |
Parent cash dividends | (704,526) | (673,635) | (439,999) |
Net proceeds associated with the Equity Offering, including Over-Allotment Option | 0 | 76,192 | 516,462 |
Net proceeds associated with the At The Market (ATM) Program | 0 | 8,716 | 59,129 |
Net proceeds (payments) associated with employee stock-based awards | 1,027 | 13,095 | |
Net proceeds (payments) associated with employee stock-based awards | (1,142) | ||
Payment of debt financing and stock issuance costs and other | (5,753) | (16,405) | (14,793) |
Cash Flows from Financing Activities-Continuing Operations | (198,973) | 550,678 | 540,425 |
Cash Flows from Financing Activities-Discontinued Operations | 0 | 0 | 0 |
Cash Flows from Financing Activities | (198,973) | 550,678 | 540,425 |
Effect of Exchange Rates on Cash and Cash Equivalents | (8,727) | (24,563) | 27,270 |
Increase (decrease) in Cash and Cash Equivalents | 28,070 | (760,214) | 689,215 |
Cash and cash equivalents, including Restricted Cash, beginning of year | 165,485 | 925,699 | 236,484 |
Cash and cash equivalents, including Restricted Cash, end of year | 193,555 | 165,485 | 925,699 |
Supplemental Information: | |||
Cash Paid for Interest | 394,984 | 388,440 | 368,468 |
Cash Paid for Income Taxes, Net | 61,691 | 64,493 | 104,498 |
Non-Cash Investing and Financing Activities: | |||
Financing Leases (see Note 2.m.) | 32,742 | 83,948 | 166,843 |
Accrued Capital Expenditures | 82,345 | 84,143 | 71,098 |
Accrued Purchase Price and Other Holdbacks (see Note 6) | 4,135 | 35,218 | 20,093 |
Dividends Payable | 186,021 | 181,986 | 172,102 |
Fair Value of Stock Issued for Fortrust Transaction (see Note 6) | $ 0 | $ 0 | $ 83,014 |
CONSOLIDATED STATEMENTS OF CA_2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of Cash Flows [Abstract] | |||
Deferred financing costs and discount included in Amortization | $ 16,740 | $ 15,675 | $ 14,962 |
Nature of Business
Nature of Business | 12 Months Ended |
Dec. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Business | Nature of Business The accompanying financial statements represent the consolidated accounts of Iron Mountain Incorporated, a Delaware corporation (“IMI”), and its subsidiaries (“we” or “us”). We help organizations around the world protect their information, reduce storage rental costs, comply with regulations, facilitate corporate disaster recovery, and better use their information and information technology ("IT") infrastructure for business advantages, regardless of its format, location or life cycle stage. We do this by storing physical records and data backup media, offering information management solutions, and providing data center space for enterprise-class colocation and opportunistic hyperscale data center deployments. We offer comprehensive records and information management services and data management services, along with the expertise and experience to address complex storage and information management challenges such as rising storage rental costs, legal and regulatory compliance, and disaster recovery requirements. We provide secure and reliable data center facilities to protect digital information and ensure the continued operation of our customers’ IT infrastructure, with reliable and flexible deployment options. In October 2019, we announced a global program designed to better position us for future growth and achievement of our strategic objectives (“Project Summit”). Project Summit focuses on simplifying our global structure by combining our core records and information management operations under one global leader and rebalancing our resources, streamlining managerial structures and leveraging our global and regional customer facing resources. We are also implementing systems and process changes designed to make our organization more agile and dynamic, streamline our organization and reallocate our resources to better align with our strategic goals as part of Project Summit. The activities associated with Project Summit began in the fourth quarter of 2019 and are expected to be substantially complete by the end of 2021. See Note 2.h., Note 9 and Note 14. On January 1, 2019, we adopted Accounting Standards Update ("ASU") No. 2016-02, Leases (Topic 842) , as amended ("ASU 2016-02"). See Note 2.m. On January 10, 2018, we completed the acquisition of IO Data Centers, LLC ("IODC"). See Note 6. On January 1, 2018, we adopted ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09"). See Note 2.l. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies a. Principles of Consolidation The accompanying financial statements reflect our financial position, results of operations, comprehensive income (loss), equity and cash flows on a consolidated basis. All intercompany transactions and account balances have been eliminated. b. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires us to make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities at the date of the financial statements and for the period then ended. On an ongoing basis, we evaluate the estimates used. We base our estimates on historical experience, actuarial estimates, current conditions and various other assumptions that we believe to be reasonable under the circumstances. These estimates form the basis for making judgments about the carrying values of assets and liabilities and are not readily apparent from other sources. Actual results may differ from these estimates. c. Cash, Cash Equivalents and Restricted Cash 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. At December 31, 2019 and 2018 , we had $4,865 and $15,141 d. Foreign Currency Local currencies are the functional currencies for our operations outside the United States, with the exception of certain foreign holding companies, whose functional currency is the United States dollar. In those instances where the local currency is the functional currency, assets and liabilities are translated at period-end exchange rates, and revenues and expenses are translated at average exchange rates for the applicable period. Resulting translation adjustments are reflected in the accumulated other comprehensive, net component of Iron Mountain Incorporated Stockholders' Equity. See Note 2.t. e. Derivative Instruments and Hedging Activities Every derivative instrument is required to be recorded in the balance sheet as either an asset or a liability measured at its fair value. Periodically, we acquire derivative instruments that are intended to hedge either cash flows or values that are subject to foreign exchange or other market price risk and not for trading purposes. We have formally documented our hedging relationships, including identification of the hedging instruments and the hedged items, as well as our risk management objectives and strategies for undertaking each hedge transaction. Given the recurring nature of our revenues and the long-term nature of our asset base, we have the ability and the preference to use long-term, fixed interest rate debt to finance our business, thereby preserving our long-term returns on invested capital. We target approximately 75% of our debt portfolio to be fixed with respect to interest rates. Occasionally, we may use interest rate swaps as a tool to maintain our targeted level of fixed rate debt. In addition, we may use borrowings in foreign currencies, either obtained in the United States or by our foreign subsidiaries, to hedge foreign currency risk associated with our international investments. Sometimes we enter into currency swaps to temporarily hedge an overseas investment, such as a major acquisition, while we arrange permanent financing or to hedge our exposure due to foreign currency exchange movements related to our intercompany accounts with and between our foreign subsidiaries. As of December 31, 2019 and 2018 , none of our derivative instruments contained credit-risk related contingent features. See Note 3. f. Property, Plant and Equipment Property, plant and equipment are stated at cost and depreciated using the straight-line method with the following useful lives (in years): Range Buildings and building improvements 5 to 40 Leasehold improvements 5 to 10 or life of the lease (whichever is shorter) Racking 1 to 20 or life of the lease (whichever is shorter) Warehouse equipment/vehicles 1 to 10 Furniture and fixtures 1 to 10 Computer hardware and software 2 to 5 Property, plant and equipment (including financing leases in the respective category), at cost, consist of the following: December 31, 2019 2018 Land $ 448,566 $ 400,980 Buildings and building improvements 3,029,309 2,991,307 Leasehold improvements 852,022 770,666 Racking 2,040,832 2,001,831 Warehouse equipment/vehicles 483,218 481,515 Furniture and fixtures 54,275 56,207 Computer hardware and software 689,261 680,283 Construction in progress 451,423 218,160 $ 8,048,906 $ 7,600,949 Minor maintenance costs are expensed as incurred. Major improvements which extend the life, increase the capacity or improve the safety or the efficiency of property owned are capitalized and depreciated. Major improvements to leased buildings are capitalized as leasehold improvements and depreciated. We capitalize interest expense during the active construction period of major capital projects. Capitalized interest is added to the cost of the underlying assets and is amortized over the useful lives of the assets. During the years ended December 31, 2019 and 2018 , we capitalized interest of $15,980 and $3,732 , respectively. The amount of capitalized interest during the year ended December 31, 2017 was insignificant. We develop various software applications for internal use. Computer software costs associated with internal use software are expensed as incurred until certain capitalization criteria are met. Third party consulting costs, as well as payroll and related costs for employees directly associated with, and devoting time to, the development of internal use computer software projects (to the extent time is spent directly on the project) are capitalized. During the years ended December 31, 2019 , 2018 and 2017 , we capitalized $34,650 , $29,407 and $25,166 of costs, respectively, associated with the development of internal use computer software projects. Capitalization begins when the design stage of the application has been completed and it is probable that the project will be completed and used to perform the function intended. Capitalization ends when the asset is ready for its intended use. Depreciation begins when the software is placed in service. Computer software costs that are capitalized are periodically evaluated for impairment. Entities are required to record the fair value of a liability for an asset retirement obligation in the period in which it is incurred. Asset retirement obligations represent the costs to replace or remove tangible long-lived assets required by law, regulatory rule or contractual agreement. Our asset retirement obligations are primarily the result of requirements under our facility lease agreements which generally have "return to original condition" clauses which would require us to remove or restore items such as shred pits, vaults, demising walls and office build-outs, among others. The significant assumptions used in estimating our aggregate asset retirement obligations are the timing of removals, the probability of a requirement to perform, estimated cost and associated expected inflation rates that are consistent with historical rates and credit-adjusted risk-free rates that approximate our incremental borrowing rate. Our asset retirement obligations at December 31, 2019 and 2018 were $30,831 and $28,256 , respectively. g. Long-Lived Assets We review long-lived assets, including all finite-lived intangible assets, for impairment whenever events or changes in circumstances indicate the carrying amount of such assets may not be recoverable. Recoverability of these assets is determined by comparing the sum of the forecasted undiscounted net cash flows of the operation to which the assets relate to their carrying amount. The operations are generally distinguished by the business segment and geographic region in which they operate. If it is determined that we are unable to recover the carrying amount of the assets, the long-lived assets are written down, on a pro rata basis, to fair value. Fair value is determined based on discounted cash flows or appraised values, depending upon the nature of the assets. Long-lived assets, including finite-lived intangible assets, are amortized over their useful lives. Annually, or more frequently if events or circumstances warrant, we assess whether a change in the lives over which long-lived assets, including finite-lived intangible assets, are amortized is necessary. Consolidated gain on disposal/write-down of property, plant and equipment, net, for the year ended December 31, 2019 was $63,824 . The gain consisted primarily of gains associated with (i) sale and sale-leaseback transactions involving the sales of facilities in the United States of approximately $67,800 and (ii) the sale of certain land and buildings in the United Kingdom of approximately $36,000 . These gains were partially offset by losses primarily associated with (i) the impairment charge on the assets associated with the select offerings within our Iron Cloud portfolio (as defined and described below) and (ii) the write-down of certain property, plant and equipment in the United States of approximately $15,700 . During the second quarter of 2019, we began exploring strategic options regarding how to maintain and support the infrastructure of select offerings within our Iron Mountain Iron Cloud (“Iron Cloud”) portfolio. As a result, during the second quarter of 2019, we performed a long-lived asset impairment analysis on the assets associated with these select offerings and concluded that the associated carrying value of the long-lived assets (which consisted entirely of property, plant and equipment) was not recoverable based upon the underlying cash flows associated with these select offerings. On September 30, 2019, we entered into an agreement (the “Iron Cloud Outsourcing Agreement”) with a wholesale provider of data infrastructure and data management services to outsource the operation, infrastructure management and maintenance and delivery of select offerings within our Iron Cloud portfolio. In conjunction with the entry into the Iron Cloud Outsourcing Agreement, we also sold certain IT infrastructure assets and the rights to certain hardware and software maintenance contracts used to deliver these Iron Cloud offerings. As a result of our long-lived asset impairment analysis and sale of certain IT infrastructure assets and rights to certain hardware and software maintenance contracts, we recognized an impairment charge and a loss on sale of the assets totaling approximately $25,000 during the year ended December 31, 2019 . Consolidated gain on disposal/write-down of property, plant and equipment, net for the year ended December 31, 2018 was $73,622 . The gain consisted primarily of (i) the gain on sale of real estate for the sale of buildings in the United Kingdom of approximately $63,800 h. Goodwill and Other Indefinite-Lived Intangible Assets Goodwill and intangible assets with indefinite lives are not amortized but are reviewed annually for impairment or more frequently if impairment indicators arise. Other than goodwill, we currently have no intangible assets that have indefinite lives and which are not amortized. We have selected October 1 as our annual goodwill impairment review date. We have performed our annual goodwill impairment review as of October 1, 2019 , 2018 and 2017 . We concluded that as of October 1, 2019 and October 1, 2018, goodwill was not impaired. As of October 1, 2017, we determined that the fair value of the Consumer Storage reporting unit was less than its carrying value and, therefore, we recorded a $3,011 impairment charge, which represented a full write-off of all goodwill associated with this reporting unit. We concluded that the goodwill associated with each of our other reporting units was not impaired as of October 1, 2017. Our reporting units at which level we performed our goodwill impairment analysis as of December 31, 2017 were as follows: (1) North American Records and Information Management; (2) North American Data Management; (3) Consumer Storage; (4) Fine Arts; (5) Western Europe; (6) Northern/Eastern Europe and Middle East, Africa and India ("NEE and MEAI"); (7) Latin America; (8) Australia and New Zealand; (9) Asia; and (10) Global Data Center. The following is a discussion regarding (i) the reporting units at which level we tested goodwill for impairment as of October 1, 2018, (ii) changes to the composition of our reporting units between October 1, 2018 and December 31, 2018, (iii) the reporting units at which level we tested goodwill for impairment as of October 1, 2019 and (iv) changes to the composition of our reporting units between October 1, 2019 and December 31, 2019 (including the amount of goodwill associated with each reporting unit). When changes occur in the composition of one or more reporting units, the goodwill is reassigned to the reporting units affected based upon their relative fair values. Goodwill Impairment Analysis - 2018 a. Reporting Units as of October 1, 2018 Our reporting units at which level we performed our goodwill impairment analysis as of October 1, 2018 were as follows: (1) North American Records and Information Management; (2) North American Data Management; (3) Consumer Storage; (4) Fine Arts; (5) Entertainment Services; (6) Western Europe; (7) Northern/Eastern Europe and Middle East and India ("NEE and MEI"); (8) Latin America; (9) Australia, New Zealand and South Africa ("ANZ SA"); (10) Asia; and (11) Global Data Center. We concluded that the goodwill associated with each of our reporting units was not impaired as of October 1, 2018. b. Changes to Composition of Reporting Units between October 1, 2018 and December 31, 2018 During the fourth quarter of 2018, as a result of changes in the management of our Information Governance and Digital Solutions business in Sweden, we reassessed the composition of our reporting units. As part of this reassessment, we determined that our Information Governance and Digital Solutions business in Sweden (which was previously managed along with our other businesses within the Western Europe reporting unit) was at the time being managed in conjunction with our businesses included in our NEE and MEI reporting unit, which already included the remainder of our business in Sweden. We concluded that the goodwill associated with our Western Europe and NEE and MEI reporting units was not impaired following this change in reporting units. Goodwill by Reporting Unit as of December 31, 2018 The carrying value of goodwill, net for each of our reporting units described above as of December 31, 2018 is as follows: Carrying Value North American Records and Information Management(1) $ 2,251,795 North American Data Management(2) 493,491 Consumer Storage(3) — Fine Arts(3) 35,526 Entertainment Services(3) 34,233 Western Europe(4) 381,806 NEE and MEI(5) 169,780 Latin America(5) 136,099 ANZ SA(5) 300,204 Asia(5) 212,140 Global Data Center(6) 425,956 Total $ 4,441,030 _______________________________________________________________________________ (1) This reporting unit comprised our former North American Records and Information Management Business segment. (2) This reporting unit comprised our former North American Data Management Business segment. (3) This reporting unit was included in our Corporate and Other Business segment. (4) This reporting unit comprised our former Western European Business segment. (5) This reporting unit was included in our former Other International Business segment. (6) This reporting unit comprised our Global Data Center Business segment. Goodwill Impairment Analysis - 2019 a. Reporting Units as of October 1, 2019 Our reporting units at which level we performed our goodwill impairment analysis as of October 1, 2019 were as follows: (1) North American Records and Information Management; (2) North American Data Management; (3) Fine Arts; (4) Entertainment Services; (5) Western Europe; (6) NEE and MEI; (7) Latin America; (8) ANZ SA; (9) Asia; and (10) Global Data Center. We concluded that the goodwill associated with each of our reporting units was not impaired as of such date. b. Changes to Composition of Reporting Units between October 1, 2019 and December 31, 2019 During the fourth quarter of 2019, as a result of the realignment of our global managerial structure and changes to our internal financial reporting associated with Project Summit, we reassessed the composition of our reportable operating segments (see Note 9 for a description and definitions of our reporting operating segments) as well as our reporting units. As of December 31, 2019, we have nine reporting units. We note the following changes to our reporting units: (1) our former North American Records and Information Management (excluding our technology escrow services business) and North American Data Management reporting units are now being managed as our “North America RIM” reporting unit; (2) our former Western Europe and NEE and MEI reporting units (excluding India) and our business in Africa (which was previously managed as a component of our former ANZ SA reporting unit) is now being managed together as our “Europe RIM” reporting unit; (3) our business in India, which was previously managed as a component of our former NEE and MEI reporting unit is now being managed in conjunction with our businesses in Asia as our “Asia RIM” reporting unit; (4) our former Australia, New Zealand and South Africa reporting unit will no longer include South Africa and will be referred to as our “Australia and New Zealand RIM” (or “ANZ RIM”) reporting unit; and (5) our technology escrow services business is now being managed separately as our “Technology Escrow Services” reporting unit. There were no changes to our Global Data Center, Fine Arts, Entertainment Services and Latin America RIM reporting units. We concluded that the goodwill associated with our North America RIM, Europe RIM, ANZ RIM, Asia RIM and Technology Escrow Services reporting units were not impaired following this change in reporting units. Goodwill by Reporting Unit as of December 31, 2019 The carrying value of goodwill, net for each of our reporting units described above as of December 31, 2019 is as follows: Carrying Value North America RIM(1) $ 2,715,550 Europe RIM(1) 572,482 Latin America RIM(1) 140,897 ANZ RIM(1) 274,913 Asia RIM(1) 239,059 Global Data Center(2) 424,568 Fine Arts(3) 37,533 Entertainment Services(3) 34,102 Technology Escrow Services(3) 46,105 Total $ 4,485,209 ______________________________________________________________________ (1) This reporting unit is included in our Global RIM (as defined in Note 9) Business segment. (2) This reporting unit comprises our Global Data Center Business segment. (3) This reporting unit is included in our Corporate and Other Business segment. Reporting unit valuations have generally been determined using a combined approach based on the present value of future cash flows (the "Discounted Cash Flow Model") and market multiples (the "Market Approach"). The Discounted Cash Flow Model incorporates significant assumptions including future revenue growth rates, operating margins, discount rates and capital expenditures. The Market Approach requires us to make assumptions related to Adjusted EBITDA multiples. Changes in economic and operating conditions impacting these assumptions or changes in multiples could result in goodwill impairments in future periods. In conjunction with our annual goodwill impairment reviews, we reconcile the sum of the valuations of all of our reporting units to our market capitalization as of such dates. The changes in the carrying value of goodwill attributable to each reportable operating segment for the years ended December 31, 2019 and 2018 is as follows: Global RIM Business Global Data Center Business Corporate and Other Business Total Goodwill balance, net of accumulated amortization, as of December 31, 2017 $ 3,964,114 $ — $ 106,153 $ 4,070,267 Deductible goodwill acquired during the year 3,251 — 6,644 9,895 Non-deductible goodwill acquired during the year 34,230 429,853 3,620 467,703 Goodwill allocated to IMFS Divestment (see Note 13) (1,202 ) — — (1,202 ) Fair value and other adjustments(1) 3,860 — 609 4,469 Currency effects (105,043 ) (3,897 ) (1,162 ) (110,102 ) Goodwill balance, net of accumulated amortization, as of December 31, 2018 3,899,210 425,956 115,864 4,441,030 Deductible goodwill acquired during the year 16,450 — — 16,450 Non-deductible goodwill acquired during the year 11,228 — 1,904 13,132 Fair value and other adjustments(2) 4,439 258 (417 ) 4,280 Currency effects 11,574 (1,646 ) 389 10,317 Goodwill balance, net of accumulated amortization, as of December 31, 2019 $ 3,942,901 $ 424,568 $ 117,740 $ 4,485,209 Accumulated Goodwill Impairment Balance as of December 31, 2018 $ 132,409 $ — $ 3,011 $ 135,420 Accumulated Goodwill Impairment Balance as of December 31, 2019 $ 132,409 $ — $ 3,011 $ 135,420 ___________________________________________________________________ (1) Total fair value and other adjustments primarily include net adjustments of $(2,717) primarily related to property, plant and equipment, customer relationship intangible assets and other liabilities and $7,186 of cash paid related to certain acquisitions completed in 2017. (2) Total fair value and other adjustments primarily include net adjustments of $4,942 primarily related to property, plant and equipment, customer relationship and data center lease-based intangible assets and deferred income taxes and other liabilities offset by $662 of net cash received related to certain acquisitions completed in 2018. i. Finite-lived Intangible Assets and Liabilities i. Customer Relationship Intangible Assets Customer relationship intangible assets, which are acquired through either business combinations or acquisitions of customer relationships, are amortized over periods ranging from 10 to 30 years (weighted average of 17 years at December 31, 2019 ) and are included in depreciation and amortization in the accompanying Consolidated Statements of Operations. The value of customer relationship intangible assets is calculated based upon estimates of their fair value. ii. Customer Inducements Upon the adoption of ASU 2014-09, free intake costs to transport boxes to one of our facilities, which include labor and transportation costs ("Free Move Costs"), are considered a Contract Fulfillment Cost (as defined in Note 2.l.) and, therefore, are now deferred and amortized and included in amortization expense over three years , consistent with the transfer of the performance obligation to the customer to which the asset relates. See Note 2.l. for information regarding the accounting for Free Move Costs, which are now a component of Intake Costs (as defined in Note 2.l.), following the adoption of ASU 2014-09. Payments that are made to a customer's current records management vendor in order to terminate the customer's existing contract with that vendor, or direct payments to a customer ("Permanent Withdrawal Fees"), are amortized over periods ranging from five to 15 years (weighted average of seven years as of December 31, 2019 ) and are included in storage and service revenue in the accompanying Consolidated Statements of Operations. Our accounting for Permanent Withdrawal Fees did not change as a result of the adoption of ASU 2014-09. Free Move Costs (prior to the adoption of ASU 2014-09) and Permanent Withdrawal Fees are collectively referred to as "Customer Inducements". If the customer terminates its relationship with us, the unamortized carrying value of the Customer Inducement intangible asset is charged to expense or revenue. However, in the event of such termination, we generally collect, and record as income, permanent removal fees that generally equal or exceed the amount of the unamortized Customer Inducement intangible asset. iii. Data Center Intangible Assets and Liabilities Finite-lived intangible assets associated with our Global Data Center Business consist of the following: Data Center In-Place Lease Intangible Assets and Data Center Tenant Relationship Intangible Assets Data Center In-Place Lease Intangible Assets (“Data Center In-Place Leases”) and Data Center Tenant Relationship Intangible Assets (“Data Center Tenant Relationships") are acquired through either business combinations or asset acquisitions in our Global Data Center Business. These intangible assets reflect the value associated with acquiring a data center operation with active tenants as of the date of acquisition. The value of Data Center In-Place Leases is determined based upon an estimate of the economic costs (such as lost revenues, tenant improvement costs, commissions, legal expenses and other costs to acquire new data center leases) avoided by acquiring a data center operation with active tenants that would have otherwise been incurred if the data center operation was purchased vacant. Data Center In-Place Leases are amortized over the weighted average remaining term of the acquired data center leases (weighted average of five years as of December 31, 2019 ) and are included in depreciation and amortization in the accompanying Consolidated Statements of Operations. The value of Data Center Tenant Relationships is determined based upon an estimate of the economic costs avoided upon lease renewal of the acquired tenants, based upon expectations of lease renewal. Data Center Tenant Relationships are amortized over the weighted average remaining anticipated life of the relationship with the acquired tenant (weighted average of eight years as of December 31, 2019 ) and are included in depreciation and amortization in the accompanying Consolidated Statements of Operations. Data Center In-Place Leases and Data Center Tenant Relationships are included in Customer relationships, customer inducements and data center lease-based intangibles in the accompanying Consolidated Balance Sheets. Data Center Above-Market and Below-Market In-Place Lease Intangible Assets Data Center Above-Market In-Place Lease Intangible Assets (“Data Center Above-Market Leases”) and Data Center Below-Market In-Place Lease Intangible Assets (“Data Center Below-Market Leases”) are acquired through either business combinations or asset acquisitions in our Global Data Center Business. We record Data Center Above-Market Leases and Data Center Below-Market Leases at the net present value of the difference between (i) the contractual amounts to be paid pursuant to each in-place lease and (ii) management’s estimate of the fair market lease rates for each corresponding in-place lease. Data Center Above-Market Leases (weighted average of four years as of December 31, 2019 ) and Data Center Below-Market Leases (weighted average of nine years as of December 31, 2019 ) are amortized over the remaining non-cancellable term of the acquired in-place lease to storage revenue in the accompanying Consolidated Statements of Operations. Data Center Above-Market Leases are included in Customer relationships, customer inducements and data center lease-based intangibles in the accompanying Consolidated Balance Sheets. Data Center Below-Market Leases are included in Other long-term liabilities in the accompanying Consolidated Balance Sheets. The gross carrying amount and accumulated amortization of our finite-lived intangible assets as of December 31, 2019 and 2018 , respectively, are as follows: December 31, 2019 December 31, 2018 Gross Carrying Accumulated Net Carrying Gross Carrying Accumulated Net Carrying Assets: Customer relationship intangible assets $ 1,751,848 $ (544,721 ) $ 1,207,127 $ 1,718,919 $ (455,705 ) $ 1,263,214 Customer inducements 52,718 (29,397 ) 23,321 56,478 (34,181 ) 22,297 Data center lease-based intangible assets(1) 265,945 (103,210 ) 162,735 271,818 (50,807 ) 221,011 Third-party commissions asset(2) 31,708 (4,134 ) 27,574 30,071 (1,089 ) 28,982 $ 2,102,219 $ (681,462 ) $ 1,420,757 $ 2,077,286 $ (541,782 ) $ 1,535,504 Liabilities: Data center below-market leases $ 12,750 $ (3,937 ) $ 8,813 $ 12,318 $ (1,642 ) $ 10,676 _______________________________________________________________________________ (1) Includes Data Center In-Place Leases, Data Center Tenant Relationships and Data Center Above-Market Leases. (2) Third-party commissions asset is included in Other, a component of Other assets, net in the accompanying Consolidated Balance Sheets as of December 31, 2019 and 2018 . See Note 6 for additional information on the third-party commissions asset. Other finite-lived intangible assets, including trade names, noncompetition agreements and trademarks, are capitalized and amortized over a weighted average of four years as of December 31, 2019 , and are included in depreciation and amortization in the accompanying Consolidated Statements of Operations. December 31, 2019 December 31, 2018 Gross Carrying Accumulated Net Carrying Gross Carrying Accumulated Net Carrying Other finite-lived intangible assets (included in Other, a component of Other assets, net) $ 19,893 $ (18,405 ) $ 1,488 $ 20,310 $ (14,798 ) $ 5,512 Amortization expense associated with finite-lived intangible assets, revenue reduction associated with the amortization of Permanent Withdrawal Fees and net revenue reduction associated with the amortization of Data Center Above-Market Leases and Data Center Below-Market Leases for the years ended December 31, 2019 , 2018 and 2017 are as follows: Year Ended December 31, 2019 2018 2017 Amortization expense included in depreciation and amortization associated with: Customer relationship and customer inducement intangible assets $ 117,972 $ 113,782 $ 109,563 Data center in-place leases and tenant relationships 46,696 43,061 — Third-party commissions asset and other finite-lived intangible assets 7,957 5,713 6,530 Revenue reduction associated with amortization of: Permanent withdrawal fees $ 9,993 $ 11,408 $ 11,253 Data center above-market leases and data center below-market leases 3,710 4,873 — Estimated amortization expense for existing finite-lived intangible assets (excluding deferred financing costs, as disclosed in Note 2.j. and Contract Fulfillment Costs, as defined and disclosed in Note 2.l.) is as follows: Estimated Amortization Included in Depreciation Revenue Reduction Associated with the Amortization of Permanent Withdrawal Fees Revenue Reduction (Increase) Associated with Amortization of Data Center Above-market leases and Below-market leases 2020 $ 160,865 $ 7,760 $ 872 2021 157,647 5,207 234 2022 127,148 3,200 273 2023 121,256 2,112 (470 ) 2024 116,253 1,125 (610 ) Thereafter 712,369 1,303 (3,112 ) j. Deferred Financing Costs Deferred financing costs are amortized over the life of the related debt. If debt is retired early, the related unamortized deferred financing costs are written-off in the period the debt is retired to Other expense (income), net. As of December 31, 2019 and 2018 , the gross carrying amount of deferred financing costs was $144,981 and $128,469 , respectively, and accumulated amortization of those costs was $58,016 and $41,862 , respectively. Unamortized deferred financing costs are included as a component of Long-term debt in our Consolidated Balance Sheets. Estimated amortization expense for deferred financing costs, which are amortized as a component of interest expense, is as follows: Estimated Amortization of Deferred Financing Costs 2020 $ 17,132 2021 16,002 2022 14,888 2023 11,618 2024 8,424 Thereafter 18,901 k. Prepaid Expenses and Accrued Expenses There are no prepaid expenses with items greater than 5% of total current assets as of December 31, 2019 and 2018 . Accrued expenses, with items greater than 5% of total current liabilities are shown separately, and consist of the following: December 31, 2019 2018 Interest $ 97,987 $ 84,283 Incentive compensation 56,662 75,256 Sales tax and VAT payable 115,352 124,232 Dividend 186,021 181,986 Operating lease liabilities 223,249 — Other 282,481 315,024 Accrued expenses $ 961,752 $ 780,781 l. Revenues Our revenues consist of storage rental revenues as well as service revenues and are reflected net of sales and value-added taxes. Storage rental revenues, which are considered a key driver of financial performance for the storage and information management services industry, consist primarily of recurring periodic rental charges |
Derivative Instruments and Hedg
Derivative Instruments and Hedging Activities | 12 Months Ended |
Dec. 31, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities | Derivative instruments we are party to include: (i) interest rate swap agreements (which are designated as cash flow hedges), (ii) cross-currency swap agreements (which are designated as net investment hedges) and (iii) foreign exchange currency forward contracts (which are not designated as 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. As of December 31, 2019 and 2018 , we had $350,000 in notional value of interest rate swap agreements outstanding, which expire in March 2022. 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 rate payments (at the fixed interest rate specified in the interest rate swap agreements). 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 once our current interest rate swap agreements expire in March 2022. The forward-starting interest rate swap agreements have $350,000 in notional value, commence in March 2022 and expire in March 2024. Under the swap agreements we will receive variable rate interest payments based upon one-month LIBOR, in exchange for the payment of fixed interest rate payments at the rates specified in the interest rate swap agreements. We have designated these interest rate swap agreements, including the forward-starting interest rate swap agreements, as cash flow hedges. Unrealized gains are recognized as assets while unrealized losses are recognized as liabilities. At December 31, 2019 and 2018 , we had a derivative liability of $8,774 and $973 , respectively, which was recorded as a component of Other long-term liabilities in our Consolidated Balance Sheets. We have recorded the change in fair value of the interest rate swap agreements as a component of Accumulated other comprehensive items, net in our Consolidated Balance Sheets. We have recorded unrealized losses of $7,801 and $973 for the years ended December 31, 2019 and 2018 , respectively. As of December 31, 2019 , cumulative net losses of $8,774 are recorded within Accumulated other comprehensive items, net associated with these cash flow hedges. Net Investment Hedges a. 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% . The cross-currency swap agreements, which expire in August 2023, are designated as a hedge of net investment against certain of our Euro denominated subsidiaries and require an exchange of the notional amounts at maturity. The cross-currency swaps are marked to market at each reporting period and any changes in fair value are recognized as a component of Accumulated other comprehensive items, net. Unrealized gains are recognized as assets while unrecognized losses are recognized as liabilities. At December 31, 2019 we had a derivative liability of $982 , which was recorded as a component of Other long-term liabilities in our Consolidated Balance Sheets, which represents the fair value of the cross-currency swap agreements. We have recorded unrealized losses of $982 for the year ended December 31, 2019 . b. Euro Notes Designated as a Hedge of Net Investment In addition, we have designated a portion of our Euro Notes (as defined in Note 4) as a hedge of net investment of certain of our Euro denominated subsidiaries. For the years ended December 31, 2019 , 2018 and 2017 we designated, on average, 284,986 , 224,424 and 103,682 Euros, respectively, of our Euro Notes as a hedge of net investment of certain of our Euro denominated subsidiaries. As a result, we recorded the following foreign exchange gains (losses) related to the change in fair value of such debt due to the currency translation adjustments, which is a component of Accumulated other comprehensive items, net: Year Ended December 31, 2019 2018 2017 Foreign exchange gains (losses) $ 6,003 $ 11,070 $ (15,015 ) As of December 31, 2019 , cumulative net gains of $20,261 , net of tax, are recorded in Accumulated other comprehensive items, net associated with this net investment hedge. Foreign Exchange Currency Forward Contracts Not Designated as Hedges We have entered into forward contracts to hedge our exposures associated with certain foreign currencies. We have not designated any of these forward contracts as hedges. Our policy is to record the fair value of each derivative instrument on a gross basis. As of December 31, 2019 , we had no outstanding forward contracts. As of December 31, 2018 , we had outstanding forward contracts to purchase 29,000 Euros and sell $33,374 United States dollars. At December 31, 2018 , we had a derivative asset of $93 which is recorded as a component of Prepaid expenses and other in our Consolidated Balance Sheet. Net cash payments (receipts) included in cash from operating activities related to settlements associated with foreign currency forward contracts for the years ended December 31, 2019 , 2018 and 2017 , are as follows: Year Ended December 31, 2019 2018 2017 Net payments (receipts) $ 737 $ 5,797 $ (9,073 ) Losses (gains) for our derivative instruments for the years ended December 31, 2019 , 2018 and 2017 are as follows: Amount of Loss (Gain) Recognized in Income on Derivatives December 31, Derivatives Not Designated as Hedging Instruments Location of Loss (Gain) Recognized in Income on Derivative 2019 2018 2017 Foreign exchange contracts Other expense (income), net $ 737 $ 4,954 $ (8,292 ) |
Debt
Debt | 12 Months Ended |
Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |
Debt | Long-term debt is as follows: December 31, 2019 December 31, 2018 Debt (inclusive of discount) Unamortized Deferred Financing Costs Carrying Amount Fair Debt (inclusive of discount) Unamortized Deferred Financing Costs Carrying Amount Fair Revolving Credit Facility(1) $ 348,808 $ (12,053 ) $ 336,755 $ 348,808 $ 793,832 $ (14,117 ) $ 779,715 $ 793,832 Term Loan A(1) 228,125 — 228,125 228,125 240,625 — 240,625 240,625 Term Loan B(1)(2) 686,395 (7,493 ) 678,902 686,890 693,169 (8,742 ) 684,427 660,013 Australian Dollar Term Loan (the "AUD Term Loan")(3)(4) 226,924 (2,313 ) 224,611 228,156 233,955 (3,084 ) 230,871 235,645 UK Bilateral Revolving Credit Facility (the "UK Bilateral Facility")(4) 184,601 (1,801 ) 182,800 184,601 178,299 (2,357 ) 175,942 178,299 4 3 / 8 % Senior Notes due 2021 (the "4 3 / 8 % Notes")(5)(6)(7) 500,000 (2,436 ) 497,564 503,450 500,000 (4,155 ) 495,845 488,750 6% Senior Notes due 2023 (the "6% Notes due 2023")(5)(6) 600,000 (4,027 ) 595,973 613,500 600,000 (5,126 ) 594,874 606,000 5 3 / 8 % CAD Senior Notes due 2023 (the "CAD Notes due 2023")(5)(7)(8) 192,058 (2,071 ) 189,987 199,380 183,403 (2,506 ) 180,897 186,154 5 3 / 4 % Senior Subordinated Notes due 2024 (the "5 3 / 4 % Notes")(5)(6) 1,000,000 (6,409 ) 993,591 1,010,625 1,000,000 (7,782 ) 992,218 940,000 3% Euro Senior Notes due 2025 (the "Euro Notes")(5)(6)(7) 336,468 (3,462 ) 333,006 345,660 343,347 (4,098 ) 339,249 321,029 3 7 / 8 % GBP Senior Notes due 2025 (the "GBP Notes due 2025")(5)(7)(9) 527,432 (5,809 ) 521,623 539,892 509,425 (6,573 ) 502,852 453,811 5 3 / 8 % Senior Notes due 2026 (the "5 3 / 8 % Notes")(5)(7)(10) 250,000 (2,756 ) 247,244 261,641 250,000 (3,185 ) 246,815 224,375 4 7 / 8 % Senior Notes due 2027 (the "4 7 / 8 % Notes due 2027")(5)(6)(7) 1,000,000 (11,020 ) 988,980 1,029,475 1,000,000 (12,442 ) 987,558 855,000 5 1 / 4 % Senior Notes due 2028 (the "5 1 / 4 % Notes")(5)(6)(7) 825,000 (9,742 ) 815,258 859,598 825,000 (10,923 ) 814,077 713,625 4 7 / 8 % Senior Notes due 2029 (the "4 7 / 8 % Notes due 2029")(5)(6)(7) 1,000,000 (14,104 ) 985,896 1,015,640 — — — — Real Estate Mortgages, Financing Lease Liabilities and Other(11) 523,671 (406 ) 523,265 523,671 606,702 (171 ) 606,531 606,702 Accounts Receivable Securitization Program(12) 272,062 (81 ) 271,981 272,062 221,673 (218 ) 221,455 221,673 Mortgage Securitization Program(13) 50,000 (982 ) 49,018 50,000 50,000 (1,128 ) 48,872 50,000 Total Long-term Debt 8,751,544 (86,965 ) 8,664,579 8,229,430 (86,607 ) 8,142,823 Less Current Portion (389,013 ) — (389,013 ) (126,406 ) — (126,406 ) Long-term Debt, Net of Current Portion $ 8,362,531 $ (86,965 ) $ 8,275,566 $ 8,103,024 $ (86,607 ) $ 8,016,417 ______________________________________________________________ (1) The capital stock or other equity interests of most of our United States subsidiaries, and up to 66% of the capital stock or other equity interests of most of our first-tier foreign subsidiaries, are pledged to secure these debt instruments, together with all intercompany obligations (including promissory notes) of subsidiaries owed to us or to one of our United States subsidiary guarantors. In addition, Iron Mountain Canada Operations ULC ("Canada Company") has pledged 66% of the capital stock of its subsidiaries, and all intercompany obligations (including promissory notes) owed to or held by it, to secure the Canadian dollar subfacility under the Revolving Credit Facility. The fair value (Level 3 of fair value hierarchy described at Note 2.s.) of these debt instruments approximates the carrying value (as borrowings under these debt instruments are based on current variable market interest rates (plus a margin that is subject to change based on our consolidated leverage ratio), as of December 31, 2019 and 2018 . (2) The amount of debt for the Term Loan B (as defined below) reflects an unamortized original issue discount of $1,355 and $1,581 as of December 31, 2019 and 2018 , respectively. (3) The amount of debt for the AUD Term Loan reflects an unamortized original issue discount of $ 1,232 and $1,690 as of December 31, 2019 and 2018 , respectively. (4) The fair value (Level 3 of fair value hierarchy described at Note 2.s.) of this debt instrument approximates the carrying value as borrowings under this debt instrument are based on a current variable market interest rate. (5) The fair values (Level 1 of fair value hierarchy described at Note 2.s.) of these debt instruments are based on quoted market prices for these notes on December 31, 2019 and 2018 , respectively. (6) Collectively, the "Parent Notes". IMI is the direct obligor on the Parent Notes, which are fully and unconditionally guaranteed, on a senior or senior subordinated basis, as the case may be, by IMI's direct and indirect 100% owned United States subsidiaries that represent the substantial majority of our United States operations (the "Guarantors"). These guarantees are joint and several obligations of the Guarantors. The remainder of our subsidiaries do not guarantee the Parent Notes. See Note 5. (7) The 4 3 / 8 % Notes, the CAD Notes due 2023, the Euro Notes, the GBP Notes due 2025, the 5 3 / 8 % Notes, the 4 7 / 8 % Notes due 2027, the 5 1 / 4 % Notes and the 4 7 / 8 % Notes due 2029 (collectively, the "Unregistered Notes") have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or under the securities laws of any other jurisdiction. Unless they are registered, the Unregistered Notes may be offered only in transactions that are exempt from registration under the Securities Act or the securities laws of any other jurisdiction. (8) Canada Company is the direct obligor on the CAD Notes due 2023, which are fully and unconditionally guaranteed, on a senior basis, by IMI and the Guarantors. These guarantees are joint and several obligations of IMI and the Guarantors. See Note 5. (9) Iron Mountain (UK) PLC ("IM UK") is the direct obligor on the GBP Notes due 2025, which are fully and unconditionally guaranteed, on a senior basis, by IMI and the Guarantors. These guarantees are joint and several obligations of IMI and the Guarantors. See Note 5. (10) Iron Mountain US Holdings, Inc. ("IM US Holdings"), one of the Guarantors, is the direct obligor on the 5 3 / 8 % Notes, which are fully and unconditionally guaranteed, on a senior basis, by IMI and the other Guarantors. These guarantees are joint and several obligations of IMI and such Guarantors. See Note 5. (11) Includes (i) real estate mortgages of $27,036 and $18,576 as of December 31, 2019 and 2018 , respectively, which bear interest at approximately 3.9% as of December 31, 2019 and 4.1% as of December 31, 2018 and are payable in various installments through 2024, (ii) financing lease liabilities of $367,182 and $447,173 as of December 31, 2019 and 2018 , respectively, which bear a weighted average interest rate of 5.7% at December 31, 2019 and 2018 and (iii) other notes and other obligations, which were assumed by us as a result of certain acquisitions, of $129,453 and $140,953 as of December 31, 2019 and 2018 , respectively, and bear a weighted average interest rate of 10.8% at December 31, 2019 and 11.1% at December 31, 2018 , respectively. We believe the fair value (Level 3 of fair value hierarchy described at Note 2.s.) of this debt approximates its carrying value. (12) The Accounts Receivable Securitization Special Purpose Subsidiaries are the obligors under this program. We believe the fair value (Level 3 of fair value hierarchy described at Note 2.s.) of this debt approximates its carrying value. (13) The Mortgage Securitization Special Purpose Subsidiary is the obligor under this program. We believe the fair value (Level 3 of fair value hierarchy described at Note 2.s.) of this debt approximates its carrying value. a. Credit Agreement On August 21, 2017, we entered into a new credit agreement (the "Credit Agreement") which amended and restated our then existing credit agreement which consisted of a revolving credit facility (the "Former Revolving Credit Facility") and a term loan and was scheduled to terminate on July 6, 2019. The Credit Agreement consists of a revolving credit facility (the "Revolving Credit Facility") and a term loan (the "Term Loan A"). The maximum amount permitted to be borrowed under the Revolving Credit Facility is $1,750,000 . The original principal amount of the Term Loan A was $250,000 . Under the Revolving Credit Facility, we had the option to request additional commitments of up to $500,000 , in the form of term loans or through increased commitments under the Revolving Credit Facility, subject to the conditions specified in the Credit Agreement. The Credit Agreement was originally scheduled to mature on August 21, 2022, at which point all obligations were to become due. On March 22, 2018, we entered into an amendment (the “March 2018 Amendment”) to the Credit Agreement which provided us with the option to request additional commitments of up to approximately $1,260,000 under the Credit Agreement in the form of term loans or through increased commitments under the Revolving Credit Facility, subject to the conditions specified in the Credit Agreement. On June 4, 2018, we entered into another amendment (the "June 2018 Amendment") to the Credit Agreement which (i) reduced interest rate margins applicable to existing and future borrowings under the Revolving Credit Facility and Term Loan A by 0.25% and (ii) extended the maturity date of the Credit Agreement to June 4, 2023. The Term Loan A is to be paid in quarterly installments in an amount equal to $3,125 per quarter, with the remaining balance due on June 4, 2023. On December 20, 2019, we entered into an amendment (the “December 2019 Amendment”) to the Credit Agreement. The December 2019 Amendment amended the definition of EBITDA and certain other definitions and restrictive covenants contained in the Credit Agreement. The Revolving Credit Facility enables IMI and certain of its United States and foreign subsidiaries to borrow in United States dollars and (subject to sublimits) a variety of other currencies (including Canadian dollars, British pounds sterling and Euros, among other currencies) in an aggregate outstanding amount not to exceed $1,750,000 . IMI and the Guarantors guarantee all obligations under the Credit Agreement. The interest rate on borrowings under the Credit Agreement varies depending on our choice of interest rate and currency options, plus an applicable margin, which varies based on our consolidated leverage ratio. Additionally, the Credit Agreement requires the payment of a commitment fee on the unused portion of the Revolving Credit Facility, which fee ranges from between 0.25% to 0.4% based on our consolidated leverage ratio and fees associated with outstanding letters of credit. As of December 31, 2019 , we had $348,808 and $228,125 of outstanding borrowings under the Revolving Credit Facility and the Term Loan A, respectively. Of the $348,808 of outstanding borrowings under the Revolving Credit Facility, $257,800 was denominated in United States dollars, 44,300 was denominated in Canadian dollars and 50,800 was denominated in Euros. In addition, we also had various outstanding letters of credit totaling $4,853 under the Revolving Credit Facility. The remaining amount available for borrowing under the Revolving Credit Facility as of December 31, 2019 , which is based on IMI's leverage ratio, the last 12 months' earnings before interest, taxes, depreciation and amortization and rent expense ("EBITDAR"), other adjustments as defined in the Credit Agreement and current external debt, was $1,396,339 (which amount represents the maximum availability as of such date). Available borrowings under the Revolving Credit Facility are subject to compliance with our indenture covenants as described more fully in Note 4.i. The average interest rate in effect under the Credit Agreement was 3.3% as of December 31, 2019 . The average interest rate in effect under the Revolving Credit Facility was 3.2% as of December 31, 2019 and the interest rate in effect under the Term Loan A as of December 31, 2019 was 3.5% . In connection with the March 2018 Amendment, IMI's wholly owned subsidiary, Iron Mountain Information Management, LLC ("IMIM"), entered into an incremental term loan activation notice (the "Activation Notice") with certain lenders pursuant to which the lenders party to the Activation Notice agreed to provide commitments to fund an incremental term loan B in the original principal amount of $700,000 (the “Term Loan B”). On March 26, 2018, IMIM borrowed the full amount of the Term Loan B, which matures on January 2, 2026. The Term Loan B was issued at 99.75% of par. The aggregate net proceeds of approximately $689,850 , after paying commissions to the joint lead arrangers and net of the original discount, were used to repay outstanding borrowings under the Revolving Credit Facility. The Term Loan B holders benefit from the same security and guarantees as other borrowings under the Credit Agreement. The Term Loan B holders also benefit from the same affirmative and negative covenants as other borrowings under the Credit Agreement; however, the Term Loan B holders are not generally entitled to the benefits of the financial covenants under the Credit Agreement. Principal payments on the Term Loan B are to be paid in quarterly installments of $1,750 per quarter during the period June 30, 2018 through December 31, 2025, with the balance due on January 2, 2026. The Term Loan B may be prepaid without penalty at any time. The Term Loan B bears interest at a rate of LIBOR plus 1.75% . The interest rate in effect under Term Loan B as of December 31, 2019 was 3.6% . b. Notes Issued under Indentures As of December 31, 2019 , we had 10 series of senior subordinated or senior notes issued under various indentures, seven of which are direct obligations of the parent company, IMI; one of which (the 5 3 / 8 % Notes) is a direct obligation of IM US Holdings; one of which (the CAD Notes due 2023) is a direct obligation of Canada Company; and one of which (the GBP Notes due 2025) is a direct obligation of IM UK. Each series of notes shown below (i) is effectively subordinated to all of our secured indebtedness, including under the Credit Agreement, to the extent of the value of the collateral securing such indebtedness, (ii) ranks pari passu in right of payment with each other and with debt outstanding under the Credit Agreement, except the 5 3 / 4 % Notes which are subordinated in right of payment to the Credit Agreement, the senior notes shown below and other "Senior Debt" as defined in, and to the extent set forth in, our indenture for the 5 3 / 4 % Notes, and (iii) is structurally subordinated to all liabilities of our subsidiaries that do not guarantee such series of notes: • 4 3 / 8 % Notes: $500,000 principal amount of senior notes maturing on June 1, 2021 and bearing interest at a rate of 4 3 / 8 % per annum, payable semi-annually in arrears on December 1 and June 1; • 6% Notes due 2023: $600,000 principal amount of senior notes maturing on August 15, 2023 and bearing interest at a rate of 6% per annum, payable semi-annually in arrears on February 15 and August 15; • CAD Notes due 2023: 250,000 CAD principal amount of senior notes maturing on September 15, 2023 and bearing interest at a rate of 5 3 / 8 % per annum, payable semi-annually in arrears on March 15 and September 15; • 5 3 / 4 % Notes: $1,000,000 principal amount of senior subordinated notes maturing on August 15, 2024 and bearing interest at a rate of 5 3 / 4 % per annum, payable semi-annually in arrears on February 15 and August 15; • Euro Notes: 300,000 Euro principal amount of senior notes maturing on January 15, 2025 and bearing interest at a rate of 3% per annum, payable semi-annually in arrears on January 15 and July 15; • GBP Notes due 2025: 400,000 British pounds sterling principal amount of senior notes maturing on November 15, 2025 and bearing interest at a rate of 3 7 / 8 % per annum, payable semi-annually in arrears on May 15 and November 15; • 5 3 / 8 % Notes: $250,000 principal amount of senior notes maturing on June 1, 2026 and bearing interest at a rate of 5 3 / 8 % per annum, payable semi-annually in arrears on December 1 and June 1; • 4 7 / 8 % Notes due 2027: $1,000,000 principal amount of senior notes maturing on September 15, 2027 and bearing interest at a rate of 4 7 / 8 % per annum, payable semi-annually in arrears on March 15 and September 15; • 5 1 / 4 % Notes: $825,000 principal amount of senior notes maturing on March 15, 2028 and bearing interest at a rate of 5 1 / 4 % per annum, payable semi-annually in arrears on March 15 and September 15; and • 4 7 / 8 % Notes due 2029: $1,000,000 principal amount of senior notes maturing on September 15, 2029 and bearing interest at a rate of 4 7 / 8 % per annum, payable semi-annually in arrears on March 15 and September 15. In May 2017, IMI completed a private offering of 300,000 Euros in aggregate principal amount of the Euro Notes, which were issued at par. The net proceeds to IMI from the Euro Notes of 296,250 Euros (or $332,683 , based upon the exchange rate between the Euro and the United States dollar on May 23, 2017 (the settlement date for the Euro Notes)), after paying the initial purchasers' commissions, were used to repay outstanding borrowings under the Former Revolving Credit Facility. In August 2017, we redeemed all of the 200,000 Canadian dollars in aggregate principal outstanding of the 6 1 / 8 % CAD Senior Notes due 2021 (the "CAD Notes due 2021") (approximately $157,458 , based upon the exchange rate between the Canadian dollar and the United States dollar on August 15, 2017 (the redemption date for the CAD Notes due 2021)) at 103.063% of par, plus accrued and unpaid interest to, but excluding the redemption date, utilizing borrowings under the Former Revolving Credit Facility. We recorded a charge of $6,354 to Other expense (income), net in the third quarter of 2017 related to the early extinguishment of this debt, representing the call premium associated with the early redemption, as well as a write-off of unamortized deferred financing costs. In September 2017, IMI completed a private offering of $1,000,000 in aggregate principal amount of the 4 7 / 8 % Notes due 2027, which were issued at par. The net proceeds of approximately $987,500 from the 4 7 / 8 % Notes due 2027 after deducting discounts to the initial purchasers, together with borrowings under the Revolving Credit Facility, were used to fund the redemption of all of the 6% Notes due 2020. In September 2017, we redeemed all of the $1,000,000 in aggregate principal outstanding of the 6% Notes due 2020 at 103.155% of par, plus accrued and unpaid interest to, but excluding, the redemption date. We recorded a charge of $41,738 to Other expense (income), net in the third quarter of 2017 related to the early extinguishment of this debt, representing the call premium associated with the early redemption, as well as a write-off of unamortized deferred financing costs. In November 2017, IM UK completed a private offering of 400,000 British pounds sterling in aggregate principal amount of the GBP Notes due 2025, which were issued at 100% of par. The net proceeds to IM UK of 395,000 British pounds sterling (or $522,077 , based upon the exchange rate between the British pounds sterling and the United States dollar on November 13, 2017 (the settlement date for the GBP Notes due 2025)), after deducting discounts to the initial purchasers, were used, together with borrowings under the Revolving Credit Facility, to fund the redemption of all the GBP Notes due 2022. In November 2017, we redeemed all of the GBP Notes due 2022 at 104.594% of par, plus accrued and unpaid interest to, but excluding, the redemption date. We recorded a charge of $30,056 to Other expense (income), net in the fourth quarter of 2017 related to the early extinguishment of this debt, representing the call premium associated with the early redemption, as well as a write-off of unamortized deferred financing costs. In December 2017, IMI completed a private offering of $825,000 in aggregate principal amount of the 5 1 / 4 % Notes. The 5 1 / 4 % Notes were issued at par. The net proceeds of approximately $814,688 from the 5 1 / 4 % Notes after deducting discounts to the initial purchasers, together with the net proceeds from the Equity Offering and the Over-Allotment Option (each as defined in Note 12), were used to finance the purchase price of the IODC Transaction, which closed on January 10, 2018, and to pay related fees and expenses. At December 31, 2017, the net proceeds from the 5 1 / 4 % Notes, together with the net proceeds of the Equity Offering, were used to temporarily repay borrowings under our Revolving Credit Facility and invest in money market funds. In September 2019, IMI completed a private offering of $1,000,000 in aggregate principal amount of the 4 7 / 8 % Notes due 2029. The 4 7 / 8 % Notes due 2029 were issued at par. The net proceeds of approximately $987,500 from the 4 7 / 8 % Notes due 2029, after paying the initial purchasers' commissions, were used to repay outstanding borrowings under the Revolving Credit Facility. Each of the indentures for the notes provides that we may redeem the outstanding notes, in whole or in part, upon satisfaction of certain terms and conditions. In any redemption, we are also required to pay all accrued but unpaid interest on the outstanding notes. The following table presents the various redemption dates and prices of the senior or senior subordinated notes. The redemption dates reflect the date at or after which the notes may be redeemed at our option at a premium redemption price. After these dates, the notes may be redeemed at 100% of face value: Redemption Date 4 3 / 8 % Notes June 1, 6% Notes CAD Notes 5 3 / 4 % Notes Euro Notes GBP Notes 5 3 / 8 % Notes June 1, 4 7 / 8 % Notes due 2027 5 1 / 4 % Notes 4 7 / 8 % Notes due 2029 2019 101.094 % (1) 102.000 % (1) 104.031 % (1) 100.958 % (1) — — — — — — 2020 100.000 % 101.000 % 102.688 % 100.000 % 101.500 % (1) 101.938 % (1) — — — — 2021 100.000 % 100.000 % 101.344 % 100.000 % 100.750 % 100.969 % 102.688 % (1) — — — 2022 — 100.000 % 100.000 % 100.000 % 100.000 % 100.000 % 101.792 % 102.438 % (1) 102.625 % (1) — 2023 — 100.000 % 100.000 % 100.000 % 100.000 % 100.000 % 100.896 % 101.625 % 101.750 % — 2024 — — — 100.000 % 100.000 % 100.000 % 100.000 % 100.813 % 100.875 % 102.438 % (1) 2025 — — — — 100.000 % 100.000 % 100.000 % 100.000 % 100.000 % 101.609 % 2026 — — — — — — 100.000 % 100.000 % 100.000 % 100.814 % 2027 — — — — — — — 100.000 % 100.000 % 100.000 % 2028 — — — — — — — — 100.000 % 100.000 % 2029 — — — — — — — — — 100.000 % _______________________________________________________________________________ (1) Prior to this date, the relevant notes are redeemable, at our option, in whole or in part, at a specified redemption price or make-whole price, as the case may be. Each of the indentures for the notes provides that we must repurchase, at the option of the holders, the notes at 101% of their principal amount, plus accrued and unpaid interest, upon the occurrence of a "Change of Control," which is defined in each respective indenture. Except for required repurchases upon the occurrence of a Change of Control or in the event of certain asset sales, each as described in the respective indenture, we are not required to make sinking fund or redemption payments with respect to any of the notes. c. Australian Dollar Term Loan On March 27, 2018, Iron Mountain Australia Group Pty, Ltd. ("IM Australia"), a wholly owned subsidiary of IMI, amended its AUD Term Loan (the "AUD Term Loan Amendment") to (i) increase the borrowings under the AUD Term Loan from 250,000 Australian dollars to 350,000 Australian dollars; (ii) increase the quarterly principal payments from 6,250 Australian dollars per year to 8,750 Australian dollars per year; and (iii) decrease the interest rate on the AUD Term Loan from BBSY (an Australian benchmark variable interest rate) plus 4.3% to BBSY plus 3.875% . The AUD Term Loan matures in September 2022. All indebtedness associated with the AUD Term Loan was issued at 99% of par. The net proceeds associated with the AUD Term Loan Amendment of approximately 99,000 Australian dollars (or approximately $75,600 , based upon the exchange rate between the Australian dollar and the United States dollar on March 29, 2018 (the closing date of the AUD Term Loan Amendment)), net of the original discount, were used to repay outstanding borrowings under the Revolving Credit Facility. Principal payments on the AUD Term Loan are to be paid in quarterly installments in an amount equivalent to an aggregate of 8,750 Australian dollars per year, with the remaining balance due September 22, 2022. The AUD Term Loan is secured by substantially all assets of IM Australia. IMI and the Guarantors guarantee all obligations under the AUD Term Loan. As of December 31, 2019 , we had 325,313 Australian dollars ( $228,156 based upon the exchange rate between the United States dollar and the Australian dollar as of December 31, 2019 ) outstanding on the AUD Term Loan. As of December 31, 2018 , we had 334,063 Australian dollars ( $235,645 based upon the exchange rate between the United States dollar and the Australian dollar as of December 31, 2018 ) outstanding on the AUD Term Loan. The interest rate in effect under the AUD Term Loan was 4.8% and 6.0% as of December 31, 2019 and 2018 , respectively. d. UK Bilateral Revolving Credit Facility On September 24, 2018, IM UK and Iron Mountain (UK) Data Centre Limited entered into a 140,000 British pounds sterling Revolving Credit Facility (the "UK Bilateral Facility") with Barclays Bank PLC. The maximum amount permitted to be borrowed under the UK Bilateral Facility is 140,000 British pounds sterling, and we have the option to request additional commitments of up to 125,000 British pounds sterling, subject to the conditions specified in the UK Bilateral Facility. The UK Bilateral Facility was fully utilized on September 24, 2018 (the closing date of the UK Bilateral Facility). The initial net proceeds received under the UK Bilateral Facility of 138,250 British pounds sterling (or approximately $180,300 , based upon the exchange rate between the British pound sterling and the United States dollar on September 24, 2018), net of upfront fees, were used to repay borrowings under the Revolving Credit Facility. The UK Bilateral Facility is secured by certain properties in the United Kingdom. IMI and the Guarantors guarantee all obligations under the UK Bilateral Facility. The UK Bilateral Facility is scheduled to mature on September 23, 2022, at which point all obligations become due. The UK Bilateral Facility contains an option to extend the maturity date for an additional year, subject to the conditions specified in the UK Bilateral Facility, including the lender's consent. The UK Bilateral Facility bears interest at a rate of LIBOR plus 2.25% . The interest rate in effect under the UK Bilateral Facility was 3.1% as of December 31, 2019 and 2018 . e. Accounts Receivable Securitization Program In March 2015, we entered into a $250,000 accounts receivable securitization program (the "Accounts Receivable Securitization Program") involving several of our wholly owned subsidiaries and certain financial institutions. Under the Accounts Receivable Securitization Program, certain of our subsidiaries sell substantially all of their United States accounts receivable balances to our wholly owned special purpose entities, Iron Mountain Receivables QRS, LLC and Iron Mountain Receivables TRS, LLC (the "Accounts Receivable Securitization Special Purpose Subsidiaries"). The Accounts Receivable Securitization Special Purpose Subsidiaries use the accounts receivable balances to collateralize loans obtained from certain financial institutions. The Accounts Receivable Securitization Special Purpose Subsidiaries are consolidated subsidiaries of IMI. The Accounts Receivable Securitization Program is accounted for as a collateralized financing activity, rather than a sale of assets, and therefore: (i) accounts receivable balances pledged as collateral are presented as assets and borrowings are presented as liabilities on our Consolidated Balance Sheets, (ii) our Consolidated Statements of Operations reflect the associated charges for bad debt expense related to pledged accounts receivable (a component of selling, general and administrative expenses) and reductions to revenue due to billing and service related credit memos issued to customers and related reserves, as well as interest expense associated with the collateralized borrowings and (iii) receipts from customers related to the underlying accounts receivable are reflected as operating cash flows and borrowings and repayments under the collateralized loans are reflected as financing cash flows within our Consolidated Statements of Cash Flows. IMIM retains the responsibility of servicing the accounts receivable balances pledged as collateral for the Accounts Receivable Securitization Program and IMI provides a performance guaranty. The maximum availability allowed is limited by eligible accounts receivable, as defined under the terms of the Accounts Receivable Securitization Program. On July 31, 2017, we amended the Accounts Receivable Securitization Program to (i) increase the maximum amount available from $250,000 to $275,000 and (ii) to extend the maturity date from March 6, 2018 to July 30, 2020, at which point all obligations become due. As the Accounts Receivable Securitization Program matures on July 30, 2020, the amount outstanding under the Accounts Receivable Securitization Program is classified within the current portion of long-term debt in our Consolidated Balance Sheet as of December 31, 2019 . As of December 31, 2019 and 2018 , the maximum availability allowed and amount outstanding under the Accounts Receivable Securitization Program was $272,062 and $221,673 , respectively. The interest rate in effect under the Accounts Receivable Securitization Program was 2.8% and 3.0% as of December 31, 2019 and 2018 , respectively. Commitment fees at a rate of 40 basis points are charged on amounts made available but not borrowed under the Accounts Receivable Securitization Program. f. Mortgage Securitization Program In October 2016, we entered into a $50,000 mortgage securitization program (the "Mortgage Securitization Program") involving certain of our wholly owned subsidiaries with Goldman Sachs Mortgage Company (“Goldman Sachs”). Under the Mortgage Securitization Program, IMIM contributed certain real estate assets to its wholly owned special purpose entity, Iron Mountain Mortgage Finance I, LLC (the "Mortgage Securitization Special Purpose Subsidiary"). The Mortgage Securitization Special Purpose Subsidiary then used the real estate to secure a collateralized loan obtained from Goldman Sachs. The Mortgage Securitization Special Purpose Subsidiary is a consolidated subsidiary of IMI. The Mortgage Securitization Program is accounted for as a collateralized financing activity, rather than a sale of assets, and therefore: (i) real estate assets pledged as collateral remain as assets and borrowings are presented as liabilities on our Consolidated Balance Sheets, (ii) our Consolidated Statements of Operations reflects the associated charges for depreciation expense related to the pledged real estate and interest expense associated with the collateralized borrowings and (iii) borrowings and repayments under the collateralized loans are reflected as financing cash flows within our Consolidated Statements of Cash Flows. The Mortgage Securitization Program is scheduled to terminate on November 6, 2026, at which point all obligations become due. The outstanding amount under the Mortgage Securitization Program was $50,000 at both December 31, 2019 and 2018 . The interest rate in effect under the Mortgage Securitization Program was 3.5% as of December 31, 2019 and 2018 . g. Cash Pooling Certain of our subsidiaries participate in cash pooling arrangements (the “Cash Pools”) with Bank Mendes Gans (“BMG”), an independently operated wholly owned subsidiary of ING Group, in order to help manage global liquidity requirements. Under the Cash Pools, cash deposited by participating subsidiaries with BMG is pledged as security against the debit balances of other participating subsidiaries, and legal rights of offset are provided and, therefore, amounts are presented in our Consolidated Ba |
Selected Consolidated Financial
Selected Consolidated Financial Statements of Parent, Guarantors, and Non-Guarantors | 12 Months Ended |
Dec. 31, 2019 | |
Selected Consolidated Financial Statements of Parent, Guarantors, Canada Company and Non-Guarantors | |
Selected Consolidated Financial Statements of Parent, Guarantors, and Non-Guarantors | e following data summarizes the consolidating results of IMI on the equity method of accounting as of December 31, 2019 and 2018 and for the years ended December 31, 2019 , 2018 and 2017 and are prepared on the same basis as the consolidated financial statements. The Parent Notes, the CAD Notes due 2023, the GBP Notes due 2025 and the 5 3 / 8 % Notes are guaranteed by the subsidiaries referred to below as the Guarantors. These subsidiaries are 100% owned by IMI. The guarantees are full and unconditional, as well as joint and several. Additionally, IMI guarantees the CAD Notes due 2023, which were issued by Canada Company, the GBP Notes, which were issued by IM UK, and the 5 3 / 8 % Notes, which were issued by IM US Holdings, which is one of the Guarantors. Canada Company and IM UK do not guarantee the Parent Notes. The subsidiaries that do not guarantee the Parent Notes, the CAD Notes due 2023, the GBP Notes and the 5 3 / 8 % Notes are referred to below as the Non-Guarantors. In the normal course of business we periodically change the ownership structure of our subsidiaries to meet the requirements of our business. In the event of such changes, we recast the prior period financial information within this footnote to conform to the current period presentation in the period such changes occur. Generally, these changes do not alter the designation of the underlying subsidiaries as Guarantors or Non-Guarantors. However, they may change whether the underlying subsidiary is owned by the Parent, a Guarantor or a Non-Guarantor. If such a change occurs, the amount of investment in subsidiaries in the below Consolidated Balance Sheets and equity in the earnings (losses) of subsidiaries, net of tax in the below Consolidated Statements of Operations and Comprehensive Income (Loss) with respect to the relevant Parent, Guarantors, Non-Guarantors and Eliminations columns also would change. CONSOLIDATED BALANCE SHEETS December 31, 2019 Parent Guarantors Non- Guarantors Eliminations Consolidated ASSETS Current Assets: Cash and cash equivalents(1) $ 105 $ 206,297 $ 163,858 $ (176,705 ) $ 193,555 Accounts receivable — 45,608 805,093 — 850,701 Intercompany receivable — 658,580 — (658,580 ) — Prepaid expenses and other — 104,164 87,948 (29 ) 192,083 Total Current Assets 105 1,014,649 1,056,899 (835,314 ) 1,236,339 Property, Plant and Equipment, Net 597 3,051,426 1,571,014 — 4,623,037 Other Assets, Net: Long-term notes receivable from affiliates and intercompany receivable 5,347,774 — — (5,347,774 ) — Investment in subsidiaries 1,966,978 1,063,178 — (3,030,156 ) — Goodwill — 2,855,424 1,629,785 — 4,485,209 Operating lease right-of-use assets — 986,362 882,739 — 1,869,101 Other — 911,803 691,327 — 1,603,130 Total Other Assets, Net 7,314,752 5,816,767 3,203,851 (8,377,930 ) 7,957,440 Total Assets $ 7,315,454 $ 9,882,842 $ 5,831,764 $ (9,213,244 ) $ 13,816,816 LIABILITIES AND EQUITY Intercompany Payable $ 338,794 $ — $ 319,786 $ (658,580 ) $ — Debit Balances Under Cash Pool — — 176,705 (176,705 ) — Current Portion of Long-term Debt — 51,868 337,174 (29 ) 389,013 Total Other Current Liabilities (includes current portion of operating lease liabilities) 292,673 704,109 563,714 — 1,560,496 Long-term Debt, Net of Current Portion 5,210,269 1,482,571 1,582,726 — 8,275,566 Long-Term Operating Lease Liabilities, Net of Current Portion — 915,840 812,846 — 1,728,686 Long-term Notes Payable to Affiliates and Intercompany Payable — 5,347,774 — (5,347,774 ) — Other Long-term Liabilities 9,756 62,525 258,865 — 331,146 Commitments and Contingencies (see Note 10) Redeemable Noncontrolling Interests (see Note 2.v.) — — 67,682 — 67,682 Total Iron Mountain Incorporated Stockholders' Equity 1,463,962 1,318,155 1,712,001 (3,030,156 ) 1,463,962 Noncontrolling Interests — — 265 — 265 Total Equity 1,463,962 1,318,155 1,712,266 (3,030,156 ) 1,464,227 Total Liabilities and Equity $ 7,315,454 $ 9,882,842 $ 5,831,764 $ (9,213,244 ) $ 13,816,816 ______________________________________________________________ (1) Included within Cash and Cash Equivalents at December 31, 2019 is approximately $198,300 and $0 of cash on deposit associated with our Cash Pools for the Guarantors and Non-Guarantors, respectively. See Note 4 for more information on our Cash Pools. CONSOLIDATED BALANCE SHEETS (Continued) December 31, 2018 Parent Guarantors Non- Guarantors Eliminations Consolidated ASSETS Current Assets: Cash and cash equivalents(1) $ 132 $ 63,407 $ 169,318 $ (67,372 ) $ 165,485 Accounts receivable — 47,472 799,417 — 846,889 Intercompany receivable — 821,324 — (821,324 ) — Prepaid expenses and other 93 109,480 86,196 (29 ) 195,740 Total Current Assets 225 1,041,683 1,054,931 (888,725 ) 1,208,114 Property, Plant and Equipment, Net 190 3,010,767 1,478,600 — 4,489,557 Other Assets, Net: Long-term notes receivable from affiliates and intercompany receivable 4,954,686 — — (4,954,686 ) — Investment in subsidiaries 1,862,048 983,018 — (2,845,066 ) — Goodwill — 2,861,381 1,579,649 — 4,441,030 Other — 982,932 735,585 — 1,718,517 Total Other Assets, Net 6,816,734 4,827,331 2,315,234 (7,799,752 ) 6,159,547 Total Assets $ 6,817,149 $ 8,879,781 $ 4,848,765 $ (8,688,477 ) $ 11,857,218 LIABILITIES AND EQUITY Intercompany Payable $ 462,927 $ — $ 358,397 $ (821,324 ) $ — Debit Balances Under Cash Pools — 10,612 56,760 (67,372 ) — Current Portion of Long-term Debt — 63,859 62,576 (29 ) 126,406 Total Other Current Liabilities 268,373 618,513 477,483 — 1,364,369 Long-term Debt, Net of Current Portion 4,223,822 1,878,079 1,914,516 — 8,016,417 Long-term Notes Payable to Affiliates and Intercompany Payable — 4,954,686 — (4,954,686 ) — Other Long-term Liabilities 973 116,895 299,163 — 417,031 Commitments and Contingencies (see Note 10) Redeemable Noncontrolling Interests (see Note 2.v.) — — 70,532 — 70,532 Total Iron Mountain Incorporated Stockholders' Equity 1,861,054 1,237,137 1,607,929 (2,845,066 ) 1,861,054 Noncontrolling Interests — — 1,409 — 1,409 Total Equity 1,861,054 1,237,137 1,609,338 (2,845,066 ) 1,862,463 Total Liabilities and Equity $ 6,817,149 $ 8,879,781 $ 4,848,765 $ (8,688,477 ) $ 11,857,218 ______________________________________________________________ (1) Included within Cash and Cash Equivalents at December 31, 2018 is approximately $58,900 and $12,700 CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) Year Ended December 31, 2019 Parent Guarantors Non- Guarantors Eliminations Consolidated Revenues: Storage rental $ — $ 1,654,359 $ 1,026,728 $ — $ 2,681,087 Service — 978,227 603,270 — 1,581,497 Intercompany revenues — 4,668 20,233 (24,901 ) — Total Revenues — 2,637,254 1,650,231 (24,901 ) 4,262,584 Operating Expenses: Cost of sales (excluding depreciation and amortization) — 1,048,514 784,801 — 1,833,315 Intercompany cost of sales — 20,233 4,668 (24,901 ) — Selling, general and administrative 444 679,964 311,256 — 991,664 Depreciation and amortization 91 410,524 247,586 — 658,201 Significant Acquisition Costs — 7,055 6,238 — 13,293 Restructuring Charges — 32,218 16,379 — 48,597 (Gain) Loss on disposal/write-down of property, plant and equipment, net — (26,472 ) (37,352 ) — (63,824 ) Total Operating Expenses 535 2,172,036 1,333,576 (24,901 ) 3,481,246 Operating (Loss) Income (535 ) 465,218 316,655 — 781,338 Interest Expense (Income), Net 213,149 18,923 187,226 — 419,298 Other Expense (Income), Net 59 19,271 14,568 — 33,898 (Loss) Income from Continuing Operations Before Provision (Benefit) for Income Taxes (213,743 ) 427,024 114,861 — 328,142 Provision (Benefit) for Income Taxes — 6,698 53,233 — 59,931 Equity in the (Earnings) Losses of Subsidiaries, Net of Tax (481,120 ) (64,490 ) — 545,610 — Income (Loss) from Continuing Operations 267,377 484,816 61,628 (545,610 ) 268,211 Income (Loss) from Discontinued Operations, Net of Tax — 120 (16 ) — 104 Net Income (Loss) 267,377 484,936 61,612 (545,610 ) 268,315 Less: Net Income (Loss) Attributable to Noncontrolling Interests — — 938 — 938 Net Income (Loss) Attributable to Iron Mountain Incorporated $ 267,377 $ 484,936 $ 60,674 $ (545,610 ) $ 267,377 Net Income (Loss) $ 267,377 $ 484,936 $ 61,612 $ (545,610 ) $ 268,315 Other Comprehensive Income (Loss): Foreign Currency Translation Adjustment 6,003 — 5,991 — 11,994 Change in Fair Value of Derivative Instruments (8,783 ) — — — (8,783 ) Equity in Other Comprehensive (Loss) Income of Subsidiaries 5,863 5,714 — (11,577 ) — Total Other Comprehensive Income (Loss) 3,083 5,714 5,991 (11,577 ) 3,211 Comprehensive Income (Loss) 270,460 490,650 67,603 (557,187 ) 271,526 Comprehensive Income (Loss) Attributable to Noncontrolling Interests — — 1,066 — 1,066 Comprehensive Income (Loss) Attributable to Iron Mountain Incorporated $ 270,460 $ 490,650 $ 66,537 $ (557,187 ) $ 270,460 CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Continued) Year Ended December 31, 2018 Parent Guarantors Non- Guarantors Eliminations Consolidated Revenues: Storage rental $ — $ 1,606,346 $ 1,016,109 $ — $ 2,622,455 Service — 974,213 629,093 — 1,603,306 Intercompany revenues — 4,759 18,439 (23,198 ) — Total Revenues — 2,585,318 1,663,641 (23,198 ) 4,225,761 Operating Expenses: Cost of sales (excluding depreciation and amortization) — 1,009,890 784,064 — 1,793,954 Intercompany cost of sales — 18,439 4,759 (23,198 ) — Selling, general and administrative (288 ) 679,740 327,531 — 1,006,983 Depreciation and amortization 122 404,574 234,818 — 639,514 Significant Acquisition Costs — 35,607 15,058 — 50,665 (Gain) Loss on disposal/write-down of property, plant and equipment, net — (2,841 ) (70,781 ) — (73,622 ) Total Operating Expenses (166 ) 2,145,409 1,295,449 (23,198 ) 3,417,494 Operating Income (Loss) 166 439,909 368,192 — 808,267 Interest Expense (Income), Net 199,955 6,392 203,301 — 409,648 Other Expense (Income), Net 2,328 17,158 (31,178 ) — (11,692 ) (Loss) Income from Continuing Operations Before (Benefit) Provision for Income Taxes (202,117 ) 416,359 196,069 — 410,311 (Benefit) Provision for Income Taxes — (1,006 ) 43,759 — 42,753 Equity in the (Earnings) Losses of Subsidiaries, Net of Tax (556,050 ) (147,575 ) — 703,625 — Income (Loss) from Continuing Operations 353,933 564,940 152,310 (703,625 ) 367,558 (Loss) Income from Discontinued Operations, Net of Tax — (12,283 ) (144 ) — (12,427 ) Net Income (Loss) 353,933 552,657 152,166 (703,625 ) 355,131 Less: Net Income (Loss) Attributable to Noncontrolling Interests — — 1,198 — 1,198 Net Income (Loss) Attributable to Iron Mountain Incorporated $ 353,933 $ 552,657 $ 150,968 $ (703,625 ) $ 353,933 Net Income (Loss) $ 353,933 $ 552,657 $ 152,166 $ (703,625 ) $ 355,131 Other Comprehensive (Loss) Income: Foreign Currency Translation Adjustment 11,070 — (175,177 ) — (164,107 ) Change in Fair Value of Derivative Instrument (973 ) — — — (973 ) Equity in Other Comprehensive (Loss) Income of Subsidiaries (171,772 ) (139,971 ) — 311,743 — Total Other Comprehensive (Loss) Income (161,675 ) (139,971 ) (175,177 ) 311,743 (165,080 ) Comprehensive Income (Loss) 192,258 412,686 (23,011 ) (391,882 ) 190,051 Comprehensive (Loss) Income Attributable to Noncontrolling Interests — — (2,207 ) — (2,207 ) Comprehensive Income (Loss) Attributable to Iron Mountain Incorporated $ 192,258 $ 412,686 $ (20,804 ) $ (391,882 ) $ 192,258 CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Continued) Year Ended December 31, 2017 Parent Guarantors Non- Guarantors Eliminations Consolidated Revenues: Storage rental $ — $ 1,443,219 $ 934,338 $ — $ 2,377,557 Service — 866,318 601,703 — 1,468,021 Intercompany revenues — 4,577 24,613 (29,190 ) — Total Revenues — 2,314,114 1,560,654 (29,190 ) 3,845,578 Operating Expenses: Cost of sales (excluding depreciation and amortization) — 922,008 742,817 — 1,664,825 Intercompany cost of sales — 24,613 4,577 (29,190 ) — Selling, general and administrative 161 613,350 323,669 — 937,180 Depreciation and amortization 167 310,962 211,247 — 522,376 Significant Acquisition Costs — 52,621 32,280 — 84,901 Intangible impairments — 3,011 — — 3,011 (Gain) Loss on disposal/write-down of property, plant and equipment, net — (1,001 ) 235 — (766 ) Total Operating Expenses 328 1,925,564 1,314,825 (29,190 ) 3,211,527 Operating (Loss) Income (328 ) 388,550 245,829 — 634,051 Interest Expense (Income), Net 163,541 7,606 182,498 — 353,645 Other Expense (Income), Net 47,176 9,178 23,075 — 79,429 (Loss) Income from Continuing Operations Before Provision (Benefit) for Income Taxes (211,045 ) 371,766 40,256 — 200,977 Provision (Benefit) for Income Taxes — 3,988 18,974 — 22,962 Equity in the (Earnings) Losses of Subsidiaries, Net of Tax (381,158 ) (11,677 ) — 392,835 — Income (Loss) from Continuing Operations 170,113 379,455 21,282 (392,835 ) 178,015 (Loss) Income from Discontinued Operations, Net of Tax — (4,370 ) (1,921 ) — (6,291 ) Net Income (Loss) 170,113 375,085 19,361 (392,835 ) 171,724 Less: Net Income (Loss) Attributable to Noncontrolling Interests — — 1,611 — 1,611 Net Income (Loss) Attributable to Iron Mountain Incorporated $ 170,113 $ 375,085 $ 17,750 $ (392,835 ) $ 170,113 Net Income (Loss) $ 170,113 $ 375,085 $ 19,361 $ (392,835 ) $ 171,724 Other Comprehensive Income (Loss): Foreign Currency Translation Adjustment (15,015 ) — 123,579 — 108,564 Equity in Other Comprehensive Income (Loss) of Subsidiaries 123,599 82,127 — (205,726 ) — Total Other Comprehensive Income (Loss) 108,584 82,127 123,579 (205,726 ) 108,564 Comprehensive Income (Loss) 278,697 457,212 142,940 (598,561 ) 280,288 Comprehensive Income (Loss) Attributable to Noncontrolling Interests — — 1,591 — 1,591 Comprehensive Income (Loss) Attributable to Iron Mountain Incorporated $ 278,697 $ 457,212 $ 141,349 $ (598,561 ) $ 278,697 CONSOLIDATED STATEMENTS OF CASH FLOWS Year Ended December 31, 2019 Parent Guarantors Non- Guarantors Eliminations Consolidated Cash Flows from Operating Activities: Cash Flows from Operating Activities-Continuing Operations $ (157,162 ) $ 850,840 $ 272,977 $ — $ 966,655 Cash Flows from Operating Activities-Discontinued Operations — — — — — Cash Flows from Operating Activities (157,162 ) 850,840 272,977 — 966,655 Cash Flows from Investing Activities: Capital expenditures — (412,725 ) (280,258 ) — (692,983 ) Cash paid for acquisitions, net of cash acquired — (9,508 ) (48,729 ) — (58,237 ) Intercompany loans to subsidiaries (124,897 ) 4,637 — 120,260 — Acquisitions of customer relationships, customer inducements and data center lease-based intangibles — (99,610 ) (32,037 ) — (131,647 ) Investment in joint ventures — (19,222 ) — — (19,222 ) Net proceeds from Divestments — — — — — Proceeds from sales of property and equipment and other, net (including real estate) and proceeds from involuntary conversion of property and equipment — 115,775 50,368 — 166,143 Cash Flows from Investing Activities-Continuing Operations (124,897 ) (420,653 ) (310,656 ) 120,260 (735,946 ) Cash Flows from Investing Activities-Discontinued Operations — 2,564 2,497 — 5,061 Cash Flows from Investing Activities (124,897 ) (418,089 ) (308,159 ) 120,260 (730,885 ) Cash Flows from Financing Activities: Repayment of revolving credit and term loan facilities and other debt — (10,479,101 ) (4,056,014 ) — (14,535,115 ) Proceeds from revolving credit and term loan facilities and other debt — 10,057,145 4,002,673 — 14,059,818 Net proceeds from sales of senior notes 987,500 — — — 987,500 Debit (payments) balances under cash pools — (10,612 ) 119,945 (109,333 ) — Debt (repayment to) financing from and equity (distribution to) contribution from noncontrolling interests, net — — (1,924 ) — (1,924 ) Intercompany loans from parent — 143,767 (23,507 ) (120,260 ) — Parent cash dividends (704,526 ) — — — (704,526 ) Net proceeds (payments) associated with employee stock-based awards 1,027 — — — 1,027 Payment of debt financing and stock issuance costs and other (1,969 ) (1,060 ) (2,724 ) — (5,753 ) Cash Flows from Financing Activities-Continuing Operations 282,032 (289,861 ) 38,449 (229,593 ) (198,973 ) Cash Flows from Financing Activities-Discontinued Operations — — — — — Cash Flows from Financing Activities 282,032 (289,861 ) 38,449 (229,593 ) (198,973 ) Effect of exchange rates on cash and cash equivalents — — (8,727 ) — (8,727 ) Increase (Decrease) in cash and cash equivalents (27 ) 142,890 (5,460 ) (109,333 ) 28,070 Cash and cash equivalents, including Restricted Cash, beginning of year 132 63,407 169,318 (67,372 ) 165,485 Cash and cash equivalents, including Restricted Cash, end of year $ 105 $ 206,297 $ 163,858 $ (176,705 ) $ 193,555 CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued) Year Ended December 31, 2018 Parent Guarantors Non- Eliminations Consolidated Cash Flows from Operating Activities: Cash Flows from Operating Activities-Continuing Operations $ (217,819 ) $ 880,615 $ 273,748 $ — $ 936,544 Cash Flows from Operating Activities-Discontinued Operations — (995 ) — — (995 ) Cash Flows from Operating Activities (217,819 ) 879,620 273,748 — 935,549 Cash Flows from Investing Activities: Capital expenditures — (313,510 ) (146,552 ) — (460,062 ) Cash paid for acquisitions, net of cash acquired — (1,338,888 ) (419,669 ) — (1,758,557 ) Intercompany loans to subsidiaries 805,799 90,569 — (896,368 ) — Acquisitions of customer relationships, customer inducements and data center lease-based intangibles — (76,388 ) (22,299 ) — (98,687 ) Net proceeds from Divestments — 1,019 — — 1,019 Proceeds from sales of property and equipment and other, net (including real estate) and proceeds from involuntary conversion of property and equipment — 299 85,860 — 86,159 Cash Flows from Investing Activities-Continuing Operations 805,799 (1,636,899 ) (502,660 ) (896,368 ) (2,230,128 ) Cash Flows from Investing Activities-Discontinued Operations — 8,250 — — 8,250 Cash Flows from Investing Activities 805,799 (1,628,649 ) (502,660 ) (896,368 ) (2,221,878 ) Cash Flows from Financing Activities: Repayment of revolving credit and term loan facilities and other debt — (7,355,086 ) (6,837,053 ) — (14,192,139 ) Proceeds from revolving credit and term loan facilities and other debt — 8,445,551 6,906,063 — 15,351,614 Debit balances (payments) under cash pools — (45,621 ) 18,267 27,354 — Debt (repayment to) financing from and equity (distribution to) contribution from noncontrolling interests, net — — (2,523 ) — (2,523 ) Intercompany loans from parent — (862,425 ) (33,943 ) 896,368 — Parent cash dividends (673,635 ) — — — (673,635 ) Net payments associated with employee stock-based awards (1,142 ) — — — (1,142 ) Net proceeds associated with the Equity Offering, including Over-Allotment Option 76,192 — — — 76,192 Net proceeds associated with the At The Market (ATM) Program 8,716 — — — 8,716 Payment of debt financing and stock issuance costs and other (412 ) (12,391 ) (3,602 ) — (16,405 ) Cash Flows from Financing Activities-Continuing Operations (590,281 ) 170,028 47,209 923,722 550,678 Cash Flows from Financing Activities-Discontinued Operations — — — — — Cash Flows from Financing Activities (590,281 ) 170,028 47,209 923,722 550,678 Effect of exchange rates on cash and cash equivalents — — (24,563 ) — (24,563 ) (Decrease) Increase in cash and cash equivalents (2,301 ) (579,001 ) (206,266 ) 27,354 (760,214 ) Cash and cash equivalents, including Restricted Cash, beginning of year 2,433 642,408 375,584 (94,726 ) 925,699 Cash and cash equivalents, including Restricted Cash, end of year $ 132 $ 63,407 $ 169,318 $ (67,372 ) $ 165,485 CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued) Year Ended December 31, 2017 Parent Guarantors Non- Eliminations Consolidated Cash Flows from Operating Activities: Cash Flows from Operating Activities-Continuing Operations $ (203,403 ) $ 737,532 $ 190,130 $ — $ 724,259 Cash Flows from Operating Activities-Discontinued Operations — (1,345 ) (1,946 ) — (3,291 ) Cash Flows from Operating Activities (203,403 ) 736,187 188,184 — 720,968 Cash Flows from Investing Activities: Capital expenditures — (237,004 ) (106,127 ) — (343,131 ) Cash paid for acquisitions, net of cash acquired — (96,946 ) (122,759 ) — (219,705 ) Intercompany loans to subsidiaries (990,635 ) (344,919 ) — 1,335,554 — Investment in subsidiaries (16,170 ) — — 16,170 — Acquisitions of customer relationships and customer inducements — (63,759 ) (11,426 ) — (75,185 ) Net proceeds from Divestments — — 29,236 — 29,236 Proceeds from sales of property and equipment and other, net (including real estate) and proceeds from involuntary conversion of property and equipment — 12,963 (3,626 ) — 9,337 Cash Flows from Investing Activities-Continuing Operations (1,006,805 ) (729,665 ) (214,702 ) 1,351,724 (599,448 ) Cash Flows from Investing Activities-Discontinued Operations — — — — — Cash Flows from Investing Activities (1,006,805 ) (729,665 ) (214,702 ) 1,351,724 (599,448 ) Cash Flows from Financing Activities: Repayment of revolving credit and term loan facilities and other debt (262,579 ) (8,077,553 ) (6,089,563 ) — (14,429,695 ) Proceeds from revolving credit and term loan facilities and other debt 224,660 7,650,436 6,041,959 — 13,917,055 Early retirement of senior subordinated and senior notes (1,031,554 ) — (715,302 ) — (1,746,856 ) Net proceeds from sales of senior notes 2,134,870 — 522,078 — 2,656,948 Debit balances (payments) under cash pools — 56,233 38,493 (94,726 ) — Debt (repayment to) financing from and equity (distribution to) contribution from noncontrolling interests, net — — 9,079 — 9,079 Intercompany loans from parent — 992,708 342,846 (1,335,554 ) — Equity contribution from parent — — 16,170 (16,170 ) — Parent cash dividends (439,999 ) — — — (439,999 ) Net proceeds associated with employee stock-based awards 13,095 — — — 13,095 Net proceeds associated with the Equity Offering, including Over-Allotment Option 516,462 — — — 516,462 Net proceeds associated with the At The Market (ATM) Program 59,129 — — — 59,129 Payment of debt financing and stock issuance costs (3,848 ) (9,391 ) (1,554 ) — (14,793 ) Cash Flows from Financing Activities-Continuing Operations 1,210,236 612,433 164,206 (1,446,450 ) 540,425 Cash Flows from Financing Activities-Discontinued Operations — — — — — Cash Flows from Financing Activities 1,210,236 612,433 164,206 (1,446,450 ) 540,425 Effect of exchange rates on cash and cash equivalents — — 27,270 — 27,270 Increase (Decrease) in cash and cash equivalents 28 618,955 164,958 (94,726 ) 689,215 Cash and cash equivalents, including Restricted Cash, beginning of year 2,405 23,453 210,626 — 236,484 Cash and cash equivalents, including Restricted Cash, end of year $ 2,433 $ 642,408 $ 375,584 $ (94,726 ) $ 925,699 |
Acquisitions
Acquisitions | 12 Months Ended |
Dec. 31, 2019 | |
Business Combinations [Abstract] | |
Acquisitions | We account for acquisitions using the acquisition method of accounting, and, accordingly, the assets and liabilities acquired are recorded at their estimated fair values and the results of operations for each acquisition have been included in our consolidated results from their respective acquisition dates. a. Acquisitions Completed During the Year Ended December 31, 2019 During the year ended December 31, 2019 , in order to enhance our existing operations in the United States, Colombia, Germany, Hong Kong, Latvia, Slovakia, Switzerland, Thailand and the United Kingdom and to expand our operations into Bulgaria, we completed the acquisition of 10 storage and records management companies and one art storage company for total cash consideration of approximately $51,000 . The individual purchase prices of these acquisitions ranged from approximately $700 to $12,500 . b. Acquisitions Completed During the Year Ended December 31, 2018 Acquisition of IO Data Centers On January 10, 2018, we completed the acquisition of the United States operations of IODC, a leading data center colocation space and solutions provider based in Phoenix, Arizona, including the land and buildings associated with four data centers in Phoenix and Scottsdale, Arizona; Edison, New Jersey; and Columbus, Ohio (the “IODC Transaction”). At the closing of the IODC Transaction, we paid approximately $1,347,000 . In February 2019, we paid approximately $31,000 in additional purchase price associated with the execution of customer contracts from the closing through the one-year anniversary of the IODC Transaction, which was accrued at December 31, 2018. This amount, net of amortization, is reported as a third-party commissions asset as a component of Other within Other assets, net, in our Consolidated Balance Sheets at December 31, 2019 and 2018 . The unaudited consolidated pro forma financial information (the "Pro Forma Financial Information") below summarizes the combined results of us and IODC on a pro forma basis as if the IODC Transaction had occurred on January 1, 2017. The Pro Forma Financial Information is presented for informational purposes and is not necessarily indicative of the results of operations that would have been achieved if the acquisition had taken place on January 1, 2017. The Pro Forma Financial Information for the period presented includes purchase accounting adjustments (including amortization expenses from acquired intangible assets and depreciation of acquired property, plant and equipment). We and IODC collectively incurred $28,064 of operating expenditures to complete the IODC Transaction (including advisory and professional fees). These operating expenditures have been reflected within the results of operations in the Pro Forma Financial Information as if they were incurred on January 1, 2017. (Unaudited) Year Ended December 31, 2018 2017 Total Revenues $ 4,229,251 $ 3,983,016 Income from Continuing Operations $ 377,510 $ 110,677 Per Share Income from Continuing Operations - Basic $ 1.32 $ 0.39 Per Share Income from Continuing Operations - Diluted $ 1.31 $ 0.39 In addition to our IODC Transaction, we completed certain other acquisitions in 2019 , 2018 and 2017 . The Pro Forma Financial Information does not reflect these acquisitions due to the insignificant impact of these acquisitions on our consolidated results of operations. Other Noteworthy Acquisitions On May 25, 2018, in order to further expand our data center operations in Europe, we acquired EvoSwitch Netherlands B.V. and EvoSwitch Global Services B.V. (collectively, "EvoSwitch"), a data center colocation space and solutions provider with a data center in Amsterdam (the "EvoSwitch Transaction"), for (i) cash consideration of 189,000 Euros (or approximately $222,000 , based upon the exchange rate between the Euro and the United States dollar on the closing date of the EvoSwitch Transaction) and (ii) $25,000 of additional consideration in the form of future services we will provide to the seller, which is included in purchase price holdbacks and other in the allocation of the purchase price paid table below. On March 8, 2018, in order to expand our data center operations into Europe and Asia, we acquired the operations of two data centers in London and Singapore from Credit Suisse International and Credit Suisse AG (together, "Credit Suisse") for a total of (i) 34,600 British pounds sterling and (ii) 81,000 Singapore dollars (or collectively, approximately $111,400 , based upon the exchange rates between the United States dollar and the British pound sterling and Singapore dollar on the closing date of the Credit Suisse transaction) (the “Credit Suisse Transaction”). As part of the Credit Suisse Transaction, Credit Suisse entered into a long-term lease with us to maintain existing data center operations. In addition to the transactions noted above, during 2018, in order to enhance our existing operations in the United States, Brazil, China, India, Ireland, Philippines, South Korea and the United Kingdom and to expand our operations into Croatia, we completed the acquisition of 11 storage and records management companies and three art storage companies for total consideration of approximately $98,100 . The individual purchase prices of these acquisitions ranged from approximately $1,000 to $34,100 . c. Acquisitions Completed During the Year Ended December 31, 2017 In December 2017, we acquired the storage and information management assets and operations of Santa Fe in China (the “Santa Fe China Transaction”) for approximately $16,800 . The purchase price for the Santa Fe China Transaction was not paid until January 2018 and, therefore, we accrued for the purchase price of the Santa Fe China Transaction in our Consolidated Balance Sheet as of December 31, 2017. In September 2017, in order to expand our existing entertainment storage and services operations in the United States and to expand our entertainment storage and services operations into Canada, the United Kingdom, France, the Netherlands and Hong Kong, we completed the acquisition of Bonded Services of America, Inc. and Bonded Services Acquisition, Ltd. (together, "Bonded") (the "Bonded Transaction"), providers of media asset storage and management services for global entertainment and media companies, for approximately 62,000 British pounds sterling (or approximately $83,000 , based upon the exchange rate between the British pound sterling and the United States dollar on the closing date of the Bonded Transaction). In September 2017, in order to expand our data center operations in the United States, we acquired Mag Datacenters LLC, which operated Fortrust, a private data center business with operations in Denver, Colorado (the “Fortrust Transaction”). At the closing of the Fortrust Transaction, we paid approximately $54,500 in cash (the "Fortrust Cash Consideration") and issued 2,193,637 shares of our common stock (the "Fortrust Stock Consideration"). The shares of our common stock issued to the former owners of Fortrust in connection with the Fortrust Transaction contain certain restrictions that impact the marketability of such shares for a period of six months following the closing date of the Fortrust Transaction (the “Lack of Marketability Restriction”). The 2,193,637 shares issued as part of the Fortrust Stock Consideration were valued at approximately $37.84 per share, which reflects a discount related to the Lack of Marketability Restriction, resulting in a total purchase price (including the Fortrust Cash Consideration and the Fortrust Stock Consideration) of approximately $137,500 . In addition to the transactions noted above, during 2017, in order to enhance our existing operations in the United States, India, Greece, Peru and South Africa and to expand our operations into Cyprus, Macau, South Korea and the United Arab Emirates, we completed the acquisition of 12 records and information management companies and one art storage company for total consideration of approximately $98,200 . The individual purchase prices of these acquisitions ranged from approximately $100 to $28,500 . d. Purchase Price Allocation A summary of the cumulative consideration paid and the allocation of the purchase price paid for all of our acquisitions in each respective year is as follows: 2019 2018 2017 Total IODC Transaction Other Fiscal Year 2018 Acquisitions Total Total Cash Paid (gross of cash acquired)(1) $ 53,230 $ 1,347,046 $ 432,078 $ 1,779,124 $ 234,314 Purchase Price Holdbacks and Other(2) 4,135 — 35,218 35,218 20,093 Fair Value of Common Stock Issued — — — — 83,014 Fair Value of Noncontrolling Interests — — — — 1,507 Total Consideration 57,365 1,347,046 467,296 1,814,342 338,928 Fair Value of Identifiable Assets Acquired: Cash 2,260 34,307 10,227 44,534 14,746 Accounts Receivable, Prepaid Expenses and Other Assets 3,102 7,070 17,662 24,732 24,379 Property, Plant and Equipment(3) 5,396 863,027 225,848 1,088,875 150,878 Customer Relationship Intangible Assets(4) 22,071 — 44,622 44,622 116,028 Operating Lease Right-of-Use Assets 16,956 — — — — Data Center In-Place Leases(5) — 104,340 36,130 140,470 6,300 Data Center Tenant Relationships(6) — 77,362 18,410 95,772 — Data Center Above-Market Leases(7) — 16,439 2,381 18,820 — Other Intangible Assets — — — — 14,487 Debt Assumed — — (12,312 ) (12,312 ) (5,287 ) Accounts Payable, Accrued Expenses and Other Liabilities (3,233 ) (36,230 ) (17,206 ) (53,436 ) (24,869 ) Operating Lease Liabilities (16,956 ) — — — — Deferred Income Taxes (1,813 ) — (43,218 ) (43,218 ) (18,122 ) Data Center Below-Market Leases(7) — (11,421 ) (694 ) (12,115 ) — Total Fair Value of Identifiable Net Assets Acquired 27,783 1,054,894 281,850 1,336,744 278,540 Goodwill Initially Recorded(8) $ 29,582 $ 292,152 $ 185,446 $ 477,598 $ 60,388 _______________________________________________________________________________ (1) Included in cash paid for acquisitions in our Consolidated Statement of Cash Flows for the year ended December 31, 2019 is net cash acquired of $2,260 and contingent and other payments, net of $7,267 related to acquisitions made in years prior to 2019 . Included in cash paid for acquisitions in our Consolidated Statement of Cash Flows for the year ended December 31, 2018 is net cash acquired of $44,534 and contingent and other payments, net of $23,967 related to acquisitions made in years prior to 2018 . Included in cash paid for acquisitions in our Consolidated Statement of Cash Flows for the year ended December 31, 2017 is net cash acquired of $14,746 and contingent and other payments, net of $137 related to acquisitions made in years prior to 2017 . (2) Purchase price holdbacks and other includes $18,824 purchase price accrued for the EvoSwitch Transaction in 2018 and $16,771 purchase price accrued for the Santa Fe China Transaction in 2017. (3) Consists primarily of buildings, building improvements, leasehold improvements, data center infrastructure, racking structures, warehouse equipment and computer hardware and software. (4) The weighted average lives of customer relationship intangible assets associated with acquisitions in 2019 , 2018 and 2017 was 16 years, 10 years and 12 years, respectively. (5) The weighted average lives of data center in-place leases associated with acquisitions in 2018 was six years . (6) The weighted average lives of data center tenant relationships associated with acquisitions in 2018 was nine years . (7) The weighted average lives of data center above-market leases associated with acquisitions in 2018 was three years and the weighted average lives of data center below-market leases associated with acquisitions in 2018 was seven years . (8) The goodwill associated with acquisitions, including IODC, 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. Allocations of the purchase price for acquisitions made in 2019 , 2018 and 2017 were based on estimates of the fair value of the net assets acquired and are subject to adjustment upon the finalization of the purchase price allocations. The accounting for business combinations requires estimates and judgments regarding expectations for future cash flows of the acquired business, and the allocations of those cash flows to identifiable tangible and intangible assets, in determining the assets acquired and liabilities assumed. The fair values assigned to tangible and intangible assets acquired and liabilities assumed, including contingent consideration, are based on management's best estimates and assumptions, as well as other information compiled by management, including valuations that utilize customary valuation procedures and techniques. The estimates and assumptions underlying the initial valuations are subject to the collection of information necessary to complete the valuations within the measurement periods, which are up to one year from the respective acquisition dates. The preliminary purchase price allocations that are not finalized as of December 31, 2019 primarily relate to the final assessment of the fair values of intangible assets (primarily customer relationship intangible assets), property, plant and equipment (primarily racking structures) and income taxes (primarily deferred income taxes) associated with the acquisitions we closed in 2019 . As the valuation of certain assets and liabilities for purposes of purchase price allocations are preliminary in nature, they are subject to adjustment as additional information is obtained about the facts and circumstances regarding these assets and liabilities that existed at the acquisition date. Any adjustments to our estimates of purchase price allocation will be made in the periods in which the adjustments are determined 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 fourth quarter of 2019 were not material to our results from operations. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | We have been organized and have operated as a REIT effective beginning with our taxable year that ended on December 31, 2014. As a REIT, we are generally permitted to deduct from our federal taxable income the dividends we pay to our stockholders. The income represented by such dividends is not subject to federal taxation at the entity level but is taxed, if at all, at the stockholder level. The income of our domestic taxable REIT subsidiaries ("TRSs"), which hold our domestic operations that may not be REIT-compliant as currently operated and structured, is subject, as applicable, to federal and state corporate income tax. In addition, we and our subsidiaries continue to be subject to foreign income taxes in other jurisdictions in which we have business operations or a taxable presence, regardless of whether assets are held or operations are conducted through subsidiaries disregarded for federal income tax purposes or TRSs. We will also be subject to a separate corporate income tax on any gains recognized on the sale or disposition of any asset previously owned by a C corporation during a five-year period after the date we first owned the asset as a REIT asset that are attributable to "built-in gains" with respect to that asset on that date. We will also be subject to a built-in gains tax on our depreciation recapture recognized into income as a result of accounting method changes in connection with our acquisition activities. If we fail to remain qualified for taxation as a REIT, we will be subject to federal income tax at regular corporate income tax rates. Even if we remain qualified for taxation as a REIT, we may be subject to some federal, state, local and foreign taxes on our income and property in addition to taxes owed with respect to our TRS operations. In particular, while state income tax regimes often parallel the federal income tax regime for REITs, many states do not completely follow federal rules and some do not follow them at all. On December 22, 2017, legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Reform Legislation”) was enacted into law in the United States. The Tax Reform Legislation amended the Internal Revenue Code of 1986, as amended (the “Code”), to reduce tax rates and modify policies, credits and deductions for businesses and individuals. The following summarizes certain components of the Tax Reform Legislation and the impact such components of the Tax Reform Legislation. One of the primary components of the Tax Reform Legislation was a reduction in the United States corporate federal income tax rate from 35% to 21% for taxable years beginning after December 31, 2017. a. Deemed Repatriation Transition Tax The Tax Reform Legislation imposed a transition tax (the “Deemed Repatriation Transition Tax”) on a mandatory deemed repatriation of post-1986 undistributed foreign earnings and profits not previously subject to United States tax as of November 2, 2017 or December 31, 2017, whichever was greater (the “Undistributed E&P”) as of the last taxable year beginning before January 1, 2018. The Deemed Repatriation Transition Tax varied depending on whether the Undistributed E&P was held in liquid (as defined in the Tax Reform Legislation) or non-liquid assets. A participation deduction against the deemed repatriation resulted in a Deemed Repatriation Transition Tax on Undistributed E&P of 15.5% if held in cash and liquid assets and 8.0% if held in non-liquid assets. The Deemed Repatriation Transition Tax applied regardless of whether or not an entity had cash in its foreign subsidiaries and regardless of whether the entity actually repatriated the Undistributed E&P back to the United States. We have completed our analysis and determined that the amount of Undistributed E&P deemed repatriated under the Tax Reform Legislation in our taxable year ending December 31, 2017 was $160,000 . We opted to include the full amount of Undistributed E&P in our 2017 taxable income, rather than spread it over eight years (as permitted by the Tax Reform Legislation). After applying the participation deduction, included in our REIT taxable income for 2017 was approximately $70,900 related to the deemed repatriation of Undistributed E&P. b. Global Intangible Low-Taxed Income For taxable years beginning after December 31, 2017, the Tax Reform Legislation introduced new provisions intended to prevent the erosion of the United States federal income tax base through the taxation of certain global intangible low-taxed income (“GILTI”). The GILTI provisions created a new requirement that certain income earned by controlled foreign corporations (“CFCs”) must be included currently in the gross income of the CFC’s United States tax resident shareholder. Generally, GILTI is the excess of the United States shareholder’s pro rata portion of the income of its foreign subsidiaries over the net deemed tangible income return of such subsidiaries. The GILTI provisions also provide for certain deductions against the inclusion of GILTI in taxable income; however, REITs are not eligible for such deductions. Therefore, 100% of our GILTI is included in our taxable income and will increase the required minimum distribution to our stockholders. There was no GILTI included in our taxable income for the year ended December 31, 2019 and the amount included in our REIT taxable income for the year ended December 31, 2018 was $41,944 . We have adopted an accounting policy such that we will recognize no deferred taxes related to basis differences resulting from GILTI. c. Interest Deduction Limitation The Tax Reform Legislation also limits, for certain entities, the deduction for net interest expense to the sum of business interest income plus 30% of adjusted taxable income (the “Interest Deduction Limitation”). Adjusted taxable income is defined in the Tax Reform Legislation similar to earnings before interest, taxes, depreciation and amortization for taxable years beginning after December 31, 2017 and before January 1, 2022, and is defined similar to earnings before interest and taxes for taxable years beginning after December 31, 2021. The Interest Deduction Limitation does not apply to taxpayers that qualify, and make an election, to be treated as an “electing real property trade or business”. As a REIT, IMI, including all of our qualified REIT subsidiaries ("QRSs"), made an election to be treated as an "electing real property trade or business" beginning in our taxable year ended December 31, 2018. As such, the interest deduction limitation does not apply to IMI or our QRSs; however, IMI will be required to utilize the alternative depreciation system for its real property. This election does not have a material impact on our consolidated financial statements. We do not generally believe our TRSs are eligible for treatment as "electing real property trades or businesses". The significant components of our deferred tax assets and deferred tax liabilities are presented below: December 31, 2019 2018 Deferred Tax Assets: Accrued liabilities and other adjustments(1) $ 53,197 $ 59,477 Net operating loss carryforwards 99,240 92,952 Federal benefit of unrecognized tax benefits 3,039 2,925 Valuation allowance (60,003 ) (55,666 ) 95,473 99,688 Deferred Tax Liabilities: Other assets, principally due to differences in amortization (177,645 ) (166,469 ) Plant and equipment, principally due to differences in depreciation (67,515 ) (74,147 ) Other (21,903 ) (26,260 ) (267,063 ) (266,876 ) Net deferred tax liability $ (171,590 ) $ (167,188 ) ______________________________________________________________________________ (1) Amounts as of December 31, 2018 has been restated to reflect the impact of the Netherlands VAT liability (as discussed in Note 2.y.) which resulted in an increase in accrued liabilities and other adjustments of $4,971 . The deferred tax assets and deferred tax liabilities are presented below: December 31, 2019 2018 Noncurrent deferred tax assets (Included in Other, a component of Other assets, net) $ 16,538 $ 16,648 Deferred income taxes (188,128 ) (183,836 ) At December 31, 2019 , we have federal net operating loss carryforwards of $152,743 available to reduce future federal taxable income, the majority of which expire from 2024 through 2037. Of the $152,743 , we expect to utilize $39,156 and realize a federal tax benefit of $8,223 . We can carry forward these net operating losses to the extent we do not utilize them in any given available year. We have state net operating loss carryforwards, which expire from 2020 through 2039, of which an insignificant state tax benefit is expected to be realized. We have assets for foreign net operating losses of $90,811 , with various expiration dates (and in some cases no expiration date), subject to a valuation allowance of approximately 64% . Rollforward of the valuation allowance is as follows: Year Ended December 31, Balance at Beginning of the Year Charged (Credited) to Expense Other Increases/(Decreases)(1) Balance at End of the Year 2019 $ 55,666 $ 6,211 $ (1,874 ) $ 60,003 2018 61,756 3,568 (9,658 ) 55,666 2017 71,359 (4,317 ) (5,286 ) 61,756 _______________________________________________________________________________ (1) Other increases and decreases in valuation allowances are primarily related to changes in foreign currency exchange rates and disposal of certain foreign subsidiaries. The components of income (loss) from continuing operations before provision (benefit) for income taxes are: Year Ended December 31, 2019 2018 2017 United States $ 203,225 $ 203,078 $ 162,763 Canada 48,326 53,779 50,019 Other Foreign 76,591 153,454 (11,805 ) $ 328,142 $ 410,311 $ 200,977 The provision (benefit) for income taxes consists of the following components: Year Ended December 31, 2019 2018 2017 Federal—current $ 7,262 $ 703 $ 16,345 Federal—deferred (3,356 ) (4,162 ) (12,655 ) State—current 3,943 918 3,440 State—deferred (1,126 ) 627 (1,276 ) Foreign—current 49,350 45,371 42,532 Foreign—deferred 3,858 (704 ) (25,424 ) Provision (Benefit) for Income Taxes $ 59,931 $ 42,753 $ 22,962 A reconciliation of total income tax expense and the amount computed by applying the current federal statutory tax rate of 21.0% to income from continuing operations before provision (benefit) for income taxes for the years ended December 31, 2019 and 2018 and the former federal statutory tax rate of 35.0% to income from continuing operations before provision (benefit) for income taxes for the year ended December 31, 2017 is as follows: Year Ended December 31, 2019 2018 2017 Computed "expected" tax provision $ 68,910 $ 86,165 $ 70,342 Changes in income taxes resulting from: Tax adjustment relating to REIT (40,577 ) (35,165 ) (78,873 ) State taxes (net of federal tax benefit) 2,115 1,599 2,692 Increase (decrease) in valuation allowance (net operating losses) 6,211 3,568 (4,317 ) Foreign repatriation — — 29,476 U.S. Federal Rate Reduction — — (4,685 ) Reserve (reversal) accrual and audit settlements (net of federal tax benefit) 514 (13,985 ) (9,103 ) Foreign tax rate differential 8,562 1,031 (9,639 ) Disallowed foreign interest, Subpart F income, and other foreign taxes 14,241 903 29,325 Other, net (45 ) (1,363 ) (2,256 ) Provision (Benefit) for Income Taxes $ 59,931 $ 42,753 $ 22,962 Our effective tax rates for the years ended December 31, 2019 , 2018 and 2017 were 18.3% , 10.4% and 11.4% , respectively. Our effective tax rate is subject to variability in the future due to, among other items: (1) changes in the mix of income between our qualified REIT subsidiaries and our TRSs, as well as among the jurisdictions in which we operate; (2) tax law changes; (3) volatility in foreign exchange gains and losses; (4) the timing of the establishment and reversal of tax reserves; and (5) our ability to utilize net operating losses that we generate. The primary reconciling items between the federal statutory tax rate of 21.0% and our overall effective tax rate for the year ended December 31, 2019 were the benefit derived from the dividends paid deduction of $40,577 and the impact of differences in the tax rates at which our foreign earnings are subject to, resulting in a tax provision of $8,562 . The primary reconciling items between the federal statutory tax rate of 21.0% and our overall effective tax rate for the year ended December 31, 2018 were the benefit derived from the dividends paid deduction of $35,165 , the impact of differences in the tax rates at which our foreign earnings are subject to, resulting in a tax provision of $1,031 and a discrete tax benefit of approximately $14,000 associated with the resolution of a tax matter (which was included as a component of Accrued expenses in our Consolidated Balance Sheet as of December 31, 2017 ). The primary reconciling items between the former federal statutory tax rate of 35.0% and our overall effective tax rate for the year ended December 31, 2017 were the benefit derived from the dividends paid deduction of $78,873 , the impact of differences in the tax rates at which our foreign earnings are subject to, resulting in a tax benefit of $9,639 , and a release of valuation allowances on certain of our foreign net operating losses of $4,317 as a result of the merger of certain of our foreign subsidiaries, partially offset by the impact of the Tax Reform Legislation of $24,791 (reflecting the impact of the Deemed Repatriation Transition Tax, partially offset by the impact of the U.S. Federal Tax Rate Reduction). As a REIT, we are entitled to a deduction for dividends paid, resulting in a substantial reduction of federal income tax expense. As a REIT, substantially all of our income tax expense will be incurred based on the earnings generated by our foreign subsidiaries and our domestic TRSs. Following our conversion to a REIT in 2014, we concluded that it was not our intent to reinvest our current and future undistributed earnings of our foreign subsidiaries indefinitely outside the United States. As of December 31, 2016, we concluded that it is our intent to indefinitely reinvest our current and future undistributed earnings of certain of our unconverted foreign TRSs outside the United States. We no longer provide incremental foreign withholding taxes on the retained book earnings of these unconverted foreign TRSs, which was approximately $279,700 as of December 31, 2019. As a REIT, future repatriation of incremental undistributed earnings of our foreign subsidiaries will not be subject to federal or state income tax, with the exception of foreign withholding taxes in limited instances; however, such future repatriations will require distribution in accordance with REIT distribution rules, and any such distribution may then be taxable, as appropriate, at the stockholder level. We continue, however, to provide for incremental foreign withholding taxes on net book over outside basis differences related to the earnings of our foreign QRSs and certain other foreign TRSs (excluding unconverted foreign TRSs). The evaluation of an uncertain tax position is a two-step process. The first step is a recognition process whereby we determine whether it is more likely than not that a tax position will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. The second step is a measurement process whereby a tax position that meets the more likely than not recognition threshold is calculated to determine the amount of benefit to recognize in the financial statements. The tax position is measured as the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. We have elected to recognize interest and penalties associated with uncertain tax positions as a component of the provision (benefit) for income taxes in the accompanying Consolidated Statements of Operations. We recorded an increase of $1,780 , $1,961 and $289 for gross interest and penalties for the years ended December 31, 2019 , 2018 and 2017 , respectively. We had $9,282 and $7,557 accrued for the payment of interest and penalties as of December 31, 2019 and 2018 , respectively. A summary of tax years that remain subject to examination by major tax jurisdictions is as follows: Tax Years Tax Jurisdiction See Below United States—Federal and State 2015 to present United Kingdom 2012 to present Canada The normal statute of limitations for United States federal tax purposes is three years from the date the tax return is filed; however, the statute of limitations may remain open for periods longer than three years in instances where a federal tax examination is in progress. The 2018, 2017 and 2016 tax years remain subject to examination for United States federal tax purposes as well as net operating loss carryforwards utilized in these years. We utilized net operating losses from 2002 through 2003 and 2010 through 2015 in our federal income tax returns for these tax years. The normal statute of limitations for state purposes is between three to five years. However, certain of our state statute of limitations remain open for periods longer than this when audits are in progress. We are subject to income taxes in the United States and numerous foreign jurisdictions. We are subject to examination by various tax authorities in jurisdictions in which we have business operations or a taxable presence. We regularly assess the likelihood of additional assessments by tax authorities and provide for these matters as appropriate. As of December 31, 2019 , we had $35,068 of reserves related to uncertain tax positions, of which $31,992 and $3,076 is included in other long-term liabilities and deferred income taxes, respectively, in the accompanying Consolidated Balance Sheet. As of December 31, 2018 , we had $35,320 of reserves related to uncertain tax positions, of which $32,144 and $3,176 is included in other long-term liabilities and deferred income taxes, respectively, in the accompanying Consolidated Balance Sheet. Although we believe our tax estimates are appropriate, the final determination of tax audits and any related litigation could result in changes in our estimates. A rollforward of unrecognized tax benefits is as follows: Gross tax contingencies—December 31, 2016 $ 59,466 Gross additions based on tax positions related to the current year 4,067 Gross additions for tax positions of prior years 3,368 Gross reductions for tax positions of prior years(1) (2,789 ) Lapses of statutes (2,629 ) Settlements (22,950 ) Gross tax contingencies—December 31, 2017 38,533 Gross additions based on tax positions related to the current year 3,147 Gross additions for tax positions of prior years 981 Gross reductions for tax positions of prior years (2,865 ) Lapses of statutes (4,462 ) Settlements (14 ) Gross tax contingencies—December 31, 2018 35,320 Gross additions based on tax positions related to the current year 2,914 Gross additions for tax positions of prior years 1,271 Gross reductions for tax positions of prior years (299 ) Lapses of statutes (4,034 ) Settlements (104 ) Gross tax contingencies—December 31, 2019 $ 35,068 _______________________________________________________________________________ (1) This amount includes gross additions related to the Recall Transaction. The reversal of these reserves of $35,068 ( $32,311 net of federal tax benefit) as of December 31, 2019 will be recorded as a reduction of our income tax provision, if sustained. We believe that it is reasonably possible that an amount up to approximately $7,400 ( $4,587 net of federal tax benefit) of our unrecognized tax positions may be recognized by the end of 2020 |
Quarterly Results of Operations
Quarterly Results of Operations (Unaudited) | 12 Months Ended |
Dec. 31, 2019 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Results of Operations (Unaudited) | Quarter Ended March 31 June 30 September 30 December 31 2019 Total revenues $ 1,053,863 $ 1,066,907 $ 1,062,224 $ 1,079,590 Operating income (loss) 158,675 193,115 223,474 206,074 Income (loss) from continuing operations 30,476 92,347 108,284 37,104 Total (loss) income from discontinued operations (24 ) 128 — — Net income (loss) 30,452 92,475 108,284 37,104 Net income (loss) attributable to Iron Mountain Incorporated 29,561 92,441 107,675 37,700 (1) Earnings (losses) per Share-Basic: Income (loss) per share from continuing operations 0.10 0.32 0.37 0.13 Total (loss) income per share from discontinued operations — — — — Net income (loss) per share attributable to Iron Mountain Incorporated 0.10 0.32 0.37 0.13 Earnings (losses) per Share-Diluted: Income (loss) per share from continuing operations 0.10 0.32 0.37 0.13 Total (loss) income per share from discontinued operations — — — — Net income (loss) per share attributable to Iron Mountain Incorporated 0.10 0.32 0.37 0.13 2018 Total revenues $ 1,042,458 $ 1,060,823 $ 1,060,991 $ 1,061,489 Operating income (loss) 157,119 201,460 195,635 254,053 Income (loss) from continuing operations(2) 39,389 92,263 77,349 158,557 Total (loss) income from discontinued operations (462 ) (360 ) (11,605 ) — Net income (loss) 38,927 91,903 65,744 158,557 Net income (loss) attributable to Iron Mountain Incorporated 38,459 91,761 65,869 157,844 (3) Earnings (losses) per Share-Basic: Income (loss) per share from continuing operations 0.14 0.32 0.27 0.55 Total (loss) income per share from discontinued operations — — (0.04 ) — Net income (loss) per share attributable to Iron Mountain Incorporated 0.13 0.32 0.23 0.55 Earnings (losses) per Share-Diluted: Income (loss) per share from continuing operations 0.14 0.32 0.27 0.55 Total (loss) income per share from discontinued operations — — (0.04 ) — Net income (loss) per share attributable to Iron Mountain Incorporated 0.13 0.32 0.23 0.55 _______________________________________________________________________________ (1) The change in net income (loss) attributable to Iron Mountain Incorporated in the fourth quarter of 2019 compared to the third quarter of 2019 is primarily attributable to (i) an increase of approximately $63,000 in losses on foreign currency transactions in the fourth quarter of 2019 compared to the third quarter of 2019, (ii) Restructuring Charges of $48,600 , which began in the fourth quarter of 2019 (as described in Note 14), partially offset by (iii) an increase in net gains on disposal/write-down of property, plant and equipment of $37,500 recorded during the fourth quarter of 2019 compared to the third quarter of 2019 and (iv) a decrease of approximately $5,100 in the provision for income taxes recorded in the fourth quarter of 2019 compared to the third quarter of 2019. (2) Income (loss) from continuing operations reflects the immaterial restatement described in Note 2.y., which reduced Income (loss) from continuing operations for the three month periods ended March 31, 2018, June 30, 2018, September 30, 2018 and December 31, 2018 by $6,225 , $1,640 , $1,279 and $274 , respectively. (3) The change in net income (loss) attributable to Iron Mountain Incorporated in the fourth quarter of 2018 compared to the third quarter of 2018 is primarily attributable to (i) gains of approximately $62,500 recorded during the fourth quarter of 2018 associated with the sale of land and buildings in the United Kingdom (see Note 2.g.), (ii) a gain on disposal/write-down of property, plant and equipment (excluding real estate) recorded during the fourth quarter of 2018 of approximately $8,800 related to the receipt of insurance proceeds related to the involuntary conversion of certain assets in a facility we own in Argentina (see Note 2.g.), (iii) a decrease in the provision for income taxes recorded in the fourth quarter of 2018 compared to the third quarter of 2018 of approximately $11,200 , (iv) an increase in gains on foreign currency transactions in the fourth quarter of 2018 compared to the third quarter of 2018 of approximately $20,000 and (v) a charge of $11,100 recorded during the third quarter of 2018 relating to the resolution of the post-closing adjustments to the Access Contingent Consideration (as defined and discussed in Note 13) that did not recur during the fourth quarter of 2018. |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 2019 | |
Segment Reporting [Abstract] | |
Segment Information | During the fourth quarter of 2019, as a result of the realignment of our global managerial structure and changes to our internal financial reporting associated with Project Summit, we reassessed the composition of our reportable operating segments and reporting units. As a result of the managerial structure changes associated with Project Summit, we now have the following reportable operating segments: (i) Global Records and Information Management ("Global RIM") Business (which consists of the former North American Records and Information Management Business (excluding our technology escrow services business, which is now included as a component of our Corporate and Other Business segment), North American Data Management Business, Western European Business and Other International Business); (ii) Global Data Center Business; and (iii) Corporate and Other Business (which includes our Adjacent Businesses and our technology escrow services business). As a result of these changes, previously reported segment information has been restated to conform to the current presentation. As of December 31, 2019 , our three reportable operating segments are described as follows: • Global RIM Business—provides (i) storage of physical records, including media such as microfilm and microfiche, film, X-rays and blueprints, including healthcare information services, vital records services, service and courier operations, and the collection, handling and disposal of sensitive documents for customers in approximately 50 countries ("Records Management"), (ii) storage and rotation of backup computer media as part of corporate disaster recovery plans, including service and courier operations (“Data Protection & Recovery”); server and computer backup services; and related services offerings, (collectively, "Data Management"), (iii) Information Governance and Digital Solutions, which develops, implements and supports comprehensive storage and information management solutions for the complete lifecycle of our customers' information, including the management of physical records, document conversion and digital storage in the United States and Canada, (iv) the shredding of sensitive documents for customers that, in many cases, store their records with us ("Secure Shredding") and the subsequent sale of shredded paper for recycling, and (v) on-demand, valet storage for consumers across 24 markets in North America through the MakeSpace JV (as defined in Note 13). • Global Data Center Business—provides enterprise-class data center facilities to protect mission-critical assets and ensure the continued operation of our customers’ IT infrastructure, with secure and reliable data center options. As of December 31, 2019, our Global Data Center Business footprint spanned nine markets in the United States: Denver, Colorado; Kansas City, Missouri; Boston, Massachusetts; Boyers, Pennsylvania; Manassas, Virginia; Edison, New Jersey; Columbus, Ohio; and Phoenix and Scottsdale, Arizona and four international markets: Amsterdam, London, and Singapore, with land held for development in Frankfurt. • Corporate and Other Business—consists primarily of Adjacent Businesses and other corporate items. Our Adjacent Businesses is comprised of (i) helping entertainment and media industry clients store, safeguard and deliver physical media of all types, and provides digital content repository systems that house, distribute, and archive key media assets, throughout the United States, Canada, France, China - Hong Kong S.A.R., the Netherlands and the United Kingdom ("Entertainment Services") and (ii) technical expertise in the handling, installation and storing of art in the United States, Canada and Europe ("Fine Arts"). Additionally, our Corporate and Other Business segment includes costs related to executive and staff functions, including finance, human resources and IT, which benefit the enterprise as a whole, and stock-based employee compensation expense associated with all stock options, restricted stock units, performance units and shares of stock issued under our employee stock purchase plan. Additionally, our Corporate and Other Business segment includes our technology escrow services business in the United States. An analysis of our business segment information and reconciliation to the accompanying Consolidated Financial Statements is as follows: Global RIM Business Global Data Center Business Corporate and Total As of and for the Year Ended December 31, 2019 Total Revenues $ 3,812,433 $ 257,151 $ 193,000 $ 4,262,584 Storage Rental 2,320,076 246,925 114,086 2,681,087 Service 1,492,357 10,226 78,914 1,581,497 Depreciation and Amortization 454,652 133,927 69,622 658,201 Depreciation 330,534 78,939 46,850 456,323 Amortization 124,118 54,988 22,772 201,878 Adjusted EBITDA 1,563,223 121,517 (247,135 ) 1,437,605 Total Assets(1) 10,753,218 2,535,848 527,750 13,816,816 Expenditures for Segment Assets 398,690 427,935 56,242 882,867 Capital Expenditures 248,232 392,029 52,722 692,983 Cash Paid for Acquisitions, Net of Cash Acquired 54,717 — 3,520 58,237 Acquisitions of Customer Relationships, Customer Inducements, Contract Fulfillment Costs and third-party commissions 95,741 35,906 — 131,647 As of and for the Year Ended December 31, 2018 Total Revenues $ 3,842,600 $ 228,983 $ 154,178 $ 4,225,761 Storage Rental 2,301,344 218,675 102,436 2,622,455 Service 1,541,256 10,308 51,742 1,603,306 Depreciation and Amortization 472,155 105,680 61,679 639,514 Depreciation 341,384 58,707 52,649 452,740 Amortization 130,771 46,973 9,030 186,774 Adjusted EBITDA 1,569,353 99,574 (244,103 ) 1,424,824 Total Assets(1) 9,135,198 2,217,505 504,515 11,857,218 Expenditures for Segment Assets 443,634 1,794,386 79,286 2,317,306 Capital Expenditures 254,308 152,739 53,015 460,062 Cash Paid for Acquisitions, Net of Cash Acquired 93,217 1,639,427 25,913 1,758,557 Acquisitions of Customer Relationships, Customer Inducements and Contract Fulfillment Costs 96,109 2,220 358 98,687 As of and for the Year Ended December 31, 2017 Total Revenues $ 3,706,110 $ 37,694 $ 101,774 $ 3,845,578 Storage Rental 2,261,831 35,839 79,887 2,377,557 Service 1,444,279 1,855 21,887 1,468,021 Depreciation and Amortization 458,634 10,224 53,518 522,376 Depreciation 351,915 8,617 45,751 406,283 Amortization 106,719 1,607 7,767 116,093 Adjusted EBITDA 1,470,579 11,275 (238,281 ) 1,243,573 Total Assets(1) 9,151,755 382,198 1,441,434 10,975,387 Expenditures for Segment Assets 424,628 86,543 126,850 638,021 Capital Expenditures 262,474 32,015 48,642 343,131 Cash Paid for Acquisitions, Net of Cash Acquired(2) 86,969 54,528 78,208 219,705 Acquisitions of Customer Relationships and Customer Inducements 75,185 — — 75,185 _______________________________________________________________________________ (1) Excludes all intercompany receivables or payables and investment in subsidiary balances. Total Assets as of December 31, 2019 reflects the adoption of ASU 2016-02. Total Assets for the Corporate and Other Business segment have been restated to reflect the impact of the Netherlands VAT liability (as discussed in Note 2.y.) which resulted in an increase in total assets for this segment of $4,971 and $2,985 , at December 31, 2018 and 2017, respectively. The accounting policies of the reportable segments are the same as those described in Note 2. Adjusted EBITDA for each segment is defined as income (loss) from continuing operations before interest expense, net, provision (benefit) for income taxes, depreciation and amortization, and also excludes certain items that we believe are not indicative of our core operating results, specifically: (1) (gain) loss on disposal/write-down of property, plant and equipment (including real estate); (2) intangible impairments; (3) other expense (income), net (which includes foreign currency transaction (gains) losses, net); (4) Significant Acquisition Costs; and (5) Restructuring Charges. Internally, we use Adjusted EBITDA as the basis for evaluating the performance of, and allocated resources to, our operating segments. A reconciliation of Adjusted EBITDA to income (loss) from continuing operations on a consolidated basis is as follows: Year Ended December 31, 2019 2018 2017 Adjusted EBITDA $ 1,437,605 $ 1,424,824 $ 1,243,573 (Add)/Deduct: Provision (Benefit) for Income Taxes 59,931 42,753 22,962 Other Expense (Income), Net 33,898 (11,692 ) 79,429 Interest Expense, Net 419,298 409,648 353,645 (Gain) Loss on disposal/write-down of property, plant and equipment, net (63,824 ) (73,622 ) (766 ) Depreciation and amortization 658,201 639,514 522,376 Significant Acquisition Costs 13,293 50,665 84,901 Restructuring Charges 48,597 — — Intangible impairments — — 3,011 Income (Loss) from Continuing Operations $ 268,211 $ 367,558 $ 178,015 Information as to our operations in different geographical areas is as follows: Year Ended December 31, 2019 2018 2017 Revenues: United States $ 2,632,586 $ 2,579,847 $ 2,310,296 United Kingdom 274,931 280,993 246,373 Canada 243,033 249,505 243,625 Australia 143,511 155,367 157,333 Remaining Countries 968,523 960,049 887,951 Total Revenues $ 4,262,584 $ 4,225,761 $ 3,845,578 Long-lived Assets: United States $ 7,862,262 $ 6,902,232 $ 5,476,551 United Kingdom 755,859 547,768 529,233 Canada 556,591 453,398 500,396 Australia 530,755 442,755 470,432 Remaining Countries 2,875,010 2,302,951 2,048,460 Total Long-lived Assets $ 12,580,477 $ 10,649,104 $ 9,025,072 Information as to our revenues by product and service lines by segment are as follows: Global RIM Business Global Data Center Business Corporate and Total For the Year Ended December 31, 2019 Records Management(1) $ 2,866,192 $ — $ 128,954 $ 2,995,146 Data Management(1) 520,082 — 64,046 584,128 Information Destruction(1)(2) 426,159 — — 426,159 Data Center — 257,151 — 257,151 Total Revenues $ 3,812,433 $ 257,151 $ 193,000 $ 4,262,584 For the Year Ended December 31, 2018 Records Management(1) $ 2,871,253 $ — $ 96,669 $ 2,967,922 Data Management(1) 539,035 — 57,509 596,544 Information Destruction(1)(2) 432,312 — — 432,312 Data Center — 228,983 — 228,983 Total Revenues $ 3,842,600 $ 228,983 $ 154,178 $ 4,225,761 For the Year Ended December 31, 2017 Records Management(1) $ 2,778,024 $ — $ 69,667 $ 2,847,691 Data Management(1) 542,148 — 32,103 574,251 Information Destruction(1)(2) 385,938 — 4 385,942 Data Center — 37,694 — 37,694 Total Revenues $ 3,706,110 $ 37,694 $ 101,774 $ 3,845,578 _______________________________________________________________________________ (1) Each of the offerings within our product and service lines has a component of revenue that is storage rental related and a component that is service revenues, except the destruction services offering, which does not have a storage rental component. (2) Includes Secure Shredding services. Significant Acquisition Costs included in the accompanying Consolidated Statements of Operations by segment are as follows: Year Ended December 31, 2019 2018 2017 Global RIM Business $ 8,223 $ 20,590 $ 47,722 Global Data Center Business 337 11,423 — Corporate and Other Business 4,733 18,652 37,179 Total Significant Acquisition Costs $ 13,293 $ 50,665 $ 84,901 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | We have certain contractual obligations related to purchase commitments which require minimum payments as follows: Year Purchase 2020 $ 134,127 2021 68,208 2022 32,480 2023 2,004 2024 1,985 Thereafter 340 $ 239,144 ______________________________________________________________________ (1) Purchase commitments (i) include obligations for future construction costs associated with the expansion of our Global Data Center Business, which represent a significant amount of the purchase commitments due in 2020 and (ii) exclude our operating and financing lease obligations (see Note 2.m.). b. Self-Insured Liabilities We are self-insured up to certain limits for costs associated with workers' compensation claims, vehicle accidents, property and general business liabilities, and benefits paid under employee healthcare and short-term disability programs. At December 31, 2019 and 2018 there were $43,127 and $41,328 , respectively, of self-insurance accruals reflected in Accrued expenses on our Consolidated Balance Sheets. The measurement of these costs requires the consideration of historical cost experience and judgments about the present and expected levels of cost per claim. We account for these costs primarily through actuarial methods, which develop estimates of the undiscounted liability for claims incurred, including those claims incurred but not reported. These methods provide estimates of future claim costs based on claims incurred as of the balance sheet date. c. Litigation—General We are involved in litigation from time to time in the ordinary course of business. A portion of the defense and/or settlement costs associated with such litigation is covered by various commercial liability insurance policies purchased by us and, in limited cases, indemnification from third parties. Our policy is to establish reserves for loss contingencies when the losses are both probable and reasonably estimable. We record legal costs associated with loss contingencies as expenses in the period in which they are incurred. The matters described below represent our significant loss contingencies. We have evaluated each matter and, if both probable and estimable, accrued an amount that represents our estimate of any probable loss associated with such matter. In addition, we have estimated a reasonably possible range for all loss contingencies including those described below. We believe it is reasonably possible that we could incur aggregate losses in addition to amounts currently accrued for all matters up to an additional $6,000 over the next several years, of which certain amounts would be covered by insurance or indemnity arrangements. d. Netherlands VAT Liability In June 2019, we received a notification of assessment from tax and customs authorities in the Netherlands related to VAT liability of approximately 16,800 Euros primarily related to the years ending December 31, 2018 and 2017. The notification of assessment is related to our customs clearing and logistics business in the Netherlands, which we acquired through the acquisition of Bonded in September 2017. As part of the import and declaration services we provide in the Netherlands, we file import declaration forms to the customs authorities for all goods imported in a particular month and calculate the amount of VAT that is due on the goods being imported. In certain instances, we remit import VAT to the Dutch tax authorities and subsequently are reimbursed by the entity on behalf of which the goods are being imported. In other instances, however, the payment of VAT may be deferred and paid upon the sale of the goods to the ultimate end customer in cases where the entity receiving the goods holds a valid license allowing for the deferment of VAT (referred to as an Article 23 license). In the notification of assessment, the Dutch tax authorities have asserted that (i) we inappropriately deferred VAT for goods imported under Article 23 for certain of our customers between March 2017 and August 2018 and (ii) we are liable for the amount of VAT related to those goods for which VAT was inappropriately deferred. We have responded to the notification of assessment and have requested additional information regarding the matter from the Dutch tax authorities. e. Italy Fire On November 4, 2011, we experienced a fire at a facility we leased in Aprilia, Italy. The facility primarily stored archival and inactive business records for local area businesses. Despite quick response by local fire authorities, damage to the building was extensive, and the building and its contents were a total loss. We have been sued by six customers. Four of those lawsuits have been settled and two remain pending, including a claim asserted by Azienda per i Transporti Autoferrotranviari del Comune di Roma, S.p.A, seeking 42,600 Euros for the loss of its current and historical archives. We have also received correspondence from other affected customers, including certain customers demanding payment under various theories of liability. Although our warehouse legal liability insurer has reserved its rights to contest coverage related to certain types of potential claims, we believe we carry adequate insurance. We deny any liability with respect to the fire and we have referred these claims to our warehouse legal liability insurer for an appropriate response. We do not expect that this event will have a material impact on our consolidated financial condition, results of operations or cash flows. We sold our Italian operations on April 27, 2012, and we indemnified the buyers related to certain obligations and contingencies associated with this fire. As a result of the sale of the Italian operations, any future statement of operations and cash flow impacts related to the fire will be reflected as discontinued operations. f. Argentina Fire On February 5, 2014, we experienced a fire at a facility we own in Buenos Aires, Argentina. As a result of the quick response by local fire authorities, the fire was contained before the entire facility was destroyed and all employees were safely evacuated; however, a number of first responders lost their lives, or in some cases, were severely injured. The cause of the fire is currently being investigated. We believe we carry adequate insurance and do not expect that this event will have a material impact to our consolidated financial condition, results of operations or cash flows. Revenues from our operations at this facility represent less than 0.5% of our consolidated revenues. In December 2018, we received insurance proceeds of approximately $13,700 related to the involuntary conversion of assets included in the facility and, as a result, we recorded a gain on disposal/write-down of property, plant and equipment, net of $8,814 during the fourth quarter of 2018. g. Brooklyn Fire (Recall) On January 31, 2015, a former Recall leased facility located in Brooklyn, New York was completely destroyed by a fire. Approximately 900,000 cartons of customer records were lost impacting approximately 1,200 customers. No one was injured as a result of the fire. We believe we carry adequate insurance to cover any losses resulting from the fire. There is one pending customer-related lawsuit stemming from the fire, which is being defended by our warehouse legal liability insurer. We have also received correspondence from other customers, under various theories of liability. We deny any liability with respect to the fire and we have referred these claims to our insurer for an appropriate response. We do not expect that this event will have a material impact on our consolidated financial condition, results of operations or cash flows. _______________________________________________________________________________ Our policy related to business interruption insurance recoveries is to record gains within Other expense (income), net in our Consolidated Statements of Operations and proceeds received within cash flows from operating activities in our Consolidated Statements of Cash Flows. Such amounts are recorded in the period the cash is received. Our policy with respect to involuntary conversion of property, plant and equipment is to record any gain or loss within (Gain) loss on disposal/write-down of property, plant and equipment, net within operating income in our Consolidated Statements of Operations and proceeds received within cash flows from investing activities within our Consolidated Statements of Cash Flows. Losses are recorded when incurred and gains are recorded in the period when the cash received exceeds the carrying value of the related property, plant and equipment. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2019 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Related Party Transactions In March 2019, in connection with the Consumer Storage Transaction and the MakeSpace Investment (both as defined and described more fully in Note 13), we entered into a storage and service agreement with the MakeSpace JV (as defined in Note 13) to provide certain storage and related services to the MakeSpace JV (the "MakeSpace Agreement"). Revenues and expenses associated with the MakeSpace Agreement are presented as a component of our Global RIM Business segment. We recognized approximately $22,500 of revenue during the year ended December 31, 2019, associated with the MakeSpace Agreement. During the years ended December 31, 2019, 2018 and 2017 , the Company had no other related party transactions. |
Stockholders' Equity Matters
Stockholders' Equity Matters | 12 Months Ended |
Dec. 31, 2019 | |
Equity [Abstract] | |
Stockholders' Equity Matters | Our board of directors has adopted a dividend policy under which we have paid, and in the future intend to pay, quarterly cash dividends on our common stock. The amount and timing of future dividends will continue to be subject to the approval of our board of directors, in its sole discretion, and to applicable legal requirements. In 2017 , 2018 and 2019 , our board of directors declared the following dividends: Declaration Date Dividend Per Share Record Date Total Amount Payment Date February 15, 2017 $ 0.5500 March 15, 2017 $ 145,235 April 3, 2017 May 24, 2017 0.5500 June 15, 2017 145,417 July 3, 2017 July 27, 2017 0.5500 September 15, 2017 146,772 October 2, 2017 October 24, 2017 0.5875 December 15, 2017 166,319 January 2, 2018 February 14, 2018 0.5875 March 15, 2018 167,969 April 2, 2018 May 24, 2018 0.5875 June 15, 2018 168,078 July 2, 2018 July 24, 2018 0.5875 September 17, 2018 168,148 October 2, 2018 October 25, 2018 0.6110 December 17, 2018 174,935 January 3, 2019 February 7, 2019 0.6110 March 15, 2019 175,242 April 2, 2019 May 22, 2019 0.6110 June 17, 2019 175,389 July 2, 2019 July 26, 2019 0.6110 September 16, 2019 175,434 October 2, 2019 October 31, 2019 0.6185 December 16, 2019 177,687 January 2, 2020 During the years ended December 31, 2019 , 2018 , and 2017 , we declared distributions to our stockholders of $703,752 , $679,130 and $603,743 , respectively. These distributions represent approximately $2.45 per share, $2.38 per share and $2.27 per share for the years ended December 31, 2019 , 2018 , and 2017 , respectively, based on the weighted average number of common shares outstanding during each respective year. For federal income tax purposes, distributions to our stockholders are generally treated as nonqualified ordinary dividends (potentially eligible for the lower effective tax rates available for "qualified REIT dividends"), qualified ordinary dividends or return of capital. The United States Internal Revenue Service requires historical C corporation earnings and profits to be distributed prior to any REIT distributions, which may affect the character of each distribution to our stockholders, including whether and to what extent each distribution is characterized as a qualified or nonqualified ordinary dividend. In addition, certain of our distributions qualify as capital gain distributions. For the years ended December 31, 2019 , 2018 , and 2017 , the dividends we paid on our common shares were classified as follows: Year Ended December 31, 2019 2018 2017 Nonqualified ordinary dividends 54.8 % 83.0 % 82.1 % Qualified ordinary dividends 4.5 % 4.8 % 17.9 % Capital gains 14.7 % 5.8 % — % Return of capital 26.0 % 6.4 % — % 100.0 % 100.0 % 100.0 % Dividends paid during the years ended December 31, 2019 , 2018 , and 2017 which were classified as qualified ordinary dividends for federal income tax purposes primarily related to the distribution of historical C corporation earnings and profits related to certain acquisitions completed during the years ended December 31, 2019 , 2018 , and 2017 . In 2019, the percentage of our dividend that was classified as a capital gain was 14.7% and primarily related to the sale of land and buildings in the United States and United Kingdom. In 2018, the percentage of our dividend that was classified as a capital gain was 5.8% and primarily relates to the sale of land and buildings in the United Kingdom . In 2017, none of our dividends were characterized as a return of capital primarily due to the impact of the Deemed Repatriation Transition Tax. See Note 7 for further disclosure regarding the impact of the Deemed Repatriation Transition Tax. At The Market (ATM) Equity Program In October 2017, we entered into a distribution agreement (the “Distribution Agreement”) with a syndicate of 10 banks (the “Agents”) pursuant to which we may sell, from time to time, up to an aggregate sales price of $500,000 of our common stock through the Agents (the “At The Market (ATM) Equity Program”). Sales of our common stock made pursuant to the Distribution Agreement may be made in negotiated transactions or transactions that are deemed to be “at the market” offerings as defined in Rule 415 under the Securities Act, including sales made directly on the NYSE, or sales made to or through a market maker other than on an exchange, or as otherwise agreed between the applicable Agent and us. We intend to use the net proceeds from sales of our common stock pursuant to the At The Market (ATM) Equity Program for general corporate purposes, which may include acquisitions and investments, including acquisitions and investments in our Global Data Center Business, and repaying amounts outstanding from time to time under the Revolving Credit Facility. During the quarter and year ended December 31, 2019 , there were no shares of common stock sold under the At The Market (ATM) Equity Program. During the year ended December 31, 2018 , under the At The Market (ATM) Equity Program, we sold an aggregate of 273,486 shares of common stock for gross proceeds of approximately $8,800 , generating net proceeds of $8,716 , after deducting commissions of $90 . During the year ended December 31, 2017, under the At The Market (ATM) Equity Program, we sold an aggregate of 1,481,053 shares of common stock for gross proceeds of approximately $60,000 , generating net proceeds of $59,100 after deducting commissions of $900 . As of December 31, 2019 , the remaining aggregate sale price of shares of our common stock available for distribution under the At The Market (ATM) Equity Program was approximately $431,200 . Equity Offering On December 12, 2017, we entered into an underwriting agreement (the "Underwriting Agreement") with a syndicate of 16 banks (the “Underwriters”) related to the public offering by us of 14,500,000 shares (the “Firm Shares”) of our common stock (the “Equity Offering”). The offering price to the public for the Equity Offering was $37.00 per share, and we agreed to pay the Underwriters an underwriting commission of $1.38195 per share. The net proceeds to us from the Equity Offering, after deducting underwriters' commissions, was $516,462 . Pursuant to the Underwriting Agreement, we granted the Underwriters a 30-day option to purchase from us up to an additional 2,175,000 shares of common stock (the “Option Shares”) at the public offering price, less the underwriting commission and less an amount per share equal to any dividends or distributions declared by us and payable on the Firm Shares but not payable on the Option Shares (the “Over-Allotment Option"). On January 10, 2018, the Underwriters exercised the Over-Allotment Option in its entirety. The net proceeds to us from the exercise of the Over-Allotment Option, after deducting underwriters' commissions and the per share value of the dividend we declared on our common stock on October 24, 2017 (for which the record date was December 15, 2017) which was paid on January 2, 2018, was approximately $76,200 . The net proceeds of the Equity Offering and the Over-Allotment Option, together with the net proceeds from the issuance of the 5 1 / 4 % Notes, were used to finance the purchase price of the IODC Transaction, and to pay related fees and expenses. At December 31, 2017, the net proceeds of the Equity Offering, together with the net proceeds from the 5 1 / 4 % Notes, were used to temporarily repay borrowings under our Revolving Credit Facility and invest in money market funds. |
Divestments
Divestments | 12 Months Ended |
Dec. 31, 2019 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Divestments | a. Consumer Storage Transaction On March 19, 2019, we contributed our customer contracts and certain intellectual property and other assets used by us to operate our consumer storage business in the United States and Canada (the "IM Consumer Storage Assets") and approximately $20,000 in cash (gross of certain transaction expenses) (the "Cash Contribution") to a joint venture entity, MakeSpace LLC (the "MakeSpace JV"), established by us and MakeSpace Labs, Inc. ("MakeSpace"), a consumer storage services provider (the "Consumer Storage Transaction"). Upon the closing of the Consumer Storage Transaction on March 19, 2019, the MakeSpace JV owned (i) the IM Consumer Storage Assets, (ii) the Cash Contribution and (iii) the customer contracts, intellectual property and certain other assets used by MakeSpace to operate its consumer storage business in the United States. As part of the Consumer Storage Transaction, we received an equity interest of approximately 34% in the MakeSpace JV (the "MakeSpace Investment"). In connection with the Consumer Storage Transaction and the MakeSpace Investment, we also entered into a storage and service agreement with the MakeSpace JV to provide certain storage and related services to the MakeSpace JV (see Note 11). We have concluded that the divestment of the IM Consumer Storage Assets in the Consumer Storage Transaction does not meet the criteria to be reported as discontinued operations in our consolidated financial statements, as our decision to divest this business does not represent a strategic shift that will have a major effect on our operations and financial results. Accordingly, the revenues and expenses associated with this business are presented as a component of Income (loss) from continuing operations in our Consolidated Statements of Operations for the year ended December 31, 2019 through the closing date of the Consumer Storage Transaction and for the years ended December 31, 2018 and 2017 and the cash flows associated with this business are presented as a component of cash flows from continuing operations in our Consolidated Statements of Cash Flows for the year ended December 31, 2019 through the closing date of the Consumer Storage Transaction and for the years ended December 31, 2018 and 2017. As a result of the Consumer Storage Transaction, we recorded a gain on sale of approximately $4,200 to Other expense (income), net, in the first quarter of 2019, representing the excess of the fair value of the consideration received over the sum of (i) the carrying value of our consumer storage operations and (ii) the Cash Contribution. At the closing date of the Consumer Storage Transaction, the fair value of the MakeSpace Investment was approximately $27,500 . We account for the MakeSpace Investment as an equity method investment. The carrying value of the MakeSpace Investment at December 31, 2019 is $18,570 , and is presented as a component of Other within Other assets, net in our Consolidated Balance Sheet. b. IMFS Divestment On September 28, 2018, Iron Mountain Fulfillment Services, Inc. ("IMFS"), a consolidated subsidiary of IMI that operated our fulfillment services business in the United States, sold substantially all of its assets for total consideration of approximately $3,000 (the "IMFS Divestment"). We have concluded that the IMFS Divestment does not meet the criteria to be reported as discontinued operations in our consolidated financial statements, as our decision to divest this business does not represent a strategic shift that will have a major effect on our operations and financial results. Accordingly, the revenues and expenses associated with this business are presented as a component of Income (loss) from continuing operations in our Consolidated Statements of Operations for the years ended December 31, 2018 and 2017 and the cash flows associated with this business are presented as a component of cash flows from continuing operations in our Consolidated Statements of Cash Flows for the years ended December 31, 2018 and 2017 through the sale date. The fair value of the consideration received as a result of the IMFS Divestment approximated the carrying value of IMFS and, therefore, during the third quarter of 2018, we recorded an insignificant loss in connection with the IMFS Divestment to Other (income) expense, net. c. Russia and Ukraine Divestment On May 30, 2017, IM EES sold its records and information management operations in Russia and Ukraine to OSG Records Management (Europe) Limited ("OSG") in a stock transaction (the “Russia and Ukraine Divestment”). As consideration for the Russia and Ukraine Divestment, IM EES received a 25% equity interest in OSG (the “OSG Investment”). We have concluded that the Russia and Ukraine Divestment does not meet the criteria to be reported as discontinued operations in our consolidated financial statements, as our decision to divest these businesses does not represent a strategic shift that will have a major effect on our operations and financial results. Accordingly, the revenues and expenses associated with these businesses are presented as a component of Income (loss) from continuing operations in our Consolidated Statement of Operations for the year ended December 31, 2017 through the sale date and the cash flows associated with these businesses are presented as a component of cash flows from continuing operations in our Consolidated Statement of Cash Flows for the year ended December 31, 2017 through the sale date. As a result of the Russia and Ukraine Divestment, we recorded a gain on sale of $38,869 to Other expense (income), net, in the second quarter of 2017, representing the excess of the fair value of the consideration received over the carrying value of our businesses in Russia and Ukraine. As of the closing date of the Russia and Ukraine Divestment, the fair value of the OSG Investment was approximately $18,000 . We account for the OSG Investment as an equity method investment. As of the closing date of the Russia and Ukraine Divestment, the carrying value of our businesses in Russia and Ukraine was a credit balance of $20,869 , which consisted of (i) a credit balance of approximately $29,100 of cumulative translation adjustment associated with our businesses in Russia and Ukraine that was reclassified from accumulated other comprehensive items, net, (ii) the carrying value of the net assets of our businesses in Russia and Ukraine, excluding goodwill, of $4,716 and (iii) $3,515 of goodwill associated with our former Northern and Eastern Europe reporting unit (of which our businesses in Russia and Ukraine were a component of prior to the Russia and Ukraine Divestment), which was allocated, on a relative fair value basis, to our businesses in Russia and Ukraine. The carrying value of the OSG Investment at December 31, 2019 and 2018 is $17,012 and $17,514 , respectively, and is presented as a component of Other within Other assets, net in our Consolidated Balance Sheets. On January 9, 2020 we acquired the remaining 75% equity interest in OSG. See Note 15. d. Recall Divestments In connection with the acquisition of Recall, we sought regulatory approval of the Recall Transaction from the United States Department of Justice (the "DOJ"), the Australian Competition and Consumer Commission (the "ACCC"), the Canada Competition Bureau (the "CCB") and the United Kingdom Competition and Markets Authority (the "CMA"), and as part of the regulatory approval process, we agreed to make certain divestments in the United States, Australia, Canada and the United Kingdom (the "Divestments"), which include the Recall Divestments (as defined below). We have concluded that the following divestments (collectively, the “Recall Divestments”) meet the criteria to be reported as discontinued operations in our Consolidated Statements of Operations and Consolidated Statements of Cash Flows for the years ended December 31, 2019, 2018 and 2017 as the Recall Divestments met the criteria to be reported as assets and liabilities held for sale at, or within a short period of time following, the closing of the Recall Transaction: • The assets and liabilities, including all associated tangible and intangible assets and employees, related to Recall's records and information management facilities in 13 United States cities were sold to Access CIG, LLC (“Access CIG”) on May 4, 2016 (the “Access Sale”); • The assets and liabilities, including associated tangible and intangible assets and employees, related to Recall’s record and information management facilities in two areas of Scotland were sold to Oasis Group on December 9, 2016; and • The assets and liabilities, including all associated tangible and intangible assets and employees, related to certain of Recall’s records and information management facilities in two cities in the United States, and in three cities in Canada, were sold to Arkive Information Management LLC and Arkive Information Management Ltd. on December 29, 2016. The table below summarizes certain results of operations of the Recall Divestments included in discontinued operations for the years ended December 31, 2019 , 2018 and 2017 : Year Ended December 31, Description 2019 2018(1) 2017 Total Revenues $ — $ — $ — Income (Loss) from Discontinued Operations Before Provision (Benefit) for Income Taxes 104 (12,574 ) (8,118 ) (Benefit) Provision for Income Taxes — (147 ) (1,827 ) Income (Loss) from Discontinued Operations, Net of Tax $ 104 $ (12,427 ) $ (6,291 ) ______________________________________________________________________________ (1) As indicated above, on May 4, 2016, we completed the Access Sale. As part of the total consideration for the Access Sale we were entitled to receive up to $25,000 of additional cash proceeds (the "Access Contingent Consideration"). During 2018, we settled the Access Contingent Consideration with Access CIG, as well as indemnification claims Access CIG previously raised in connection with the Access Sale. Changes to the realizable value of the Access Contingent Consideration were recorded to our Consolidated Statement of Operations as a component of discontinued operations. The loss from discontinued operations during the year ended December 31, 2018 primarily relates to losses incurred due to the resolution of the post-closing adjustments to the Access Contingent Consideration in connection with our agreement with Access CIG. |
Restructuring Charges
Restructuring Charges | 12 Months Ended |
Dec. 31, 2019 | |
Restructuring and Related Activities [Abstract] | |
Restructuring Charges | Restructuring Charges We estimate total costs associated with Project Summit to be approximately $240,000 which includes operating expenditures ("Restructuring Charges") and capital expenditures. During the fourth quarter of 2019, we incurred approximately $48,600 of Restructuring Charges primarily related to employee severance costs and professional fees. Our accrued liabilities for the Restructuring Charges in our Consolidated Balance Sheet at December 31, 2019 is not material. Restructuring Charges included in the accompanying Consolidated Statement of Operations by segment for the year ended December 31, 2019 is as follows: Year Ended December 31, 2019 Global RIM Business $ 21,900 Global Data Center Business 306 Corporate and Other Business 26,391 Restructuring Charges $ 48,597 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2019 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events On January 9, 2020 we acquired the remaining 75% equity interest in OSG for cash consideration of 6,026,020 Russian rubles (or approximately $95,100 , based upon the exchange rate between the Russian ruble and the United States dollar on the closing date of the OSG Acquisition) (the "OSG Acquisition"). The OSG Acquisition will enable us to extend our Global RIM Business in Russia, Ukraine, Kazakhstan, Belarus, and Armenia. Commencing on the date of the OSG Acquisition, we will fully consolidate the results of OSG within our consolidated financial statements. |
SCHEDULE III - SCHEDULE OF REAL
SCHEDULE III - SCHEDULE OF REAL ESTATE AND ACCUMULATED DEPRECIATION | 12 Months Ended |
Dec. 31, 2019 | |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract] | |
Schedule III - Schedule of Real Estate and Accumulated Depreciation | IRON MOUNTAIN INCORPORATED SCHEDULE III—SCHEDULE OF REAL ESTATE AND ACCUMULATED DEPRECIATION DECEMBER 31, 2019 (Dollars in thousands) Schedule III - Schedule of Real Estate and Accumulated Depreciation ("Schedule III") reflects the cost and associated accumulated depreciation for the real estate facilities that are owned. The gross cost included in Schedule III includes the cost for land, land improvements, buildings, building improvements and racking. Schedule III does not reflect the 1,150 leased facilities in our real estate portfolio. In addition, Schedule III does not include any value for financing leases for property that is classified as land, buildings and building improvements in our consolidated financial statements. The following table presents a reconciliation of the gross amount of real estate assets, as presented in Schedule III below, to the sum of the historical book value of land, buildings and building improvements, racking and construction in progress as disclosed in Note 2.f. to Notes to Consolidated Financial Statements as of December 31, 2019: Gross Amount of Real Estate Assets, As Reported on Schedule III $ 3,856,515 Add Reconciling Items: Book value of racking included in leased facilities(1) 1,321,159 Book value of financing leases(2) 439,166 Book value of construction in progress(3) 280,108 Book value of other(4) 73,182 Total Reconciling Items 2,113,615 Gross Amount of Real Estate Assets, As Disclosed in Note 2.f. $ 5,970,130 _______________________________________________________________________________ (1) Represents the gross book value of racking installed in our 1,150 leased facilities, which is included in historical book value of racking in Note 2.f., but excluded from Schedule III. (2) Represents the gross book value of buildings and building improvements that are subject to financing leases, which are included in the historical book value of building and building improvements in Note 2.f., but excluded from Schedule III. (3) Represents the gross book value of non-real estate assets that are included in the historical book value of construction in progress assets in Note 2.f., but excluded from Schedule III, as such assets are not considered real estate associated with owned buildings. The historical book value of real estate assets associated with owned buildings that were related to construction in progress as of December 31, 2019 is included in Schedule III. (4) Represents the gross book value of owned land that is either (i) associated with buildings that are subject to financing leases or (ii) under development, which are included in the historical book value of either land or construction in progress, respectively, in Note 2.f., but excluded from Schedule III. IRON MOUNTAIN INCORPORATED SCHEDULE III—SCHEDULE OF REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued) DECEMBER 31, 2019 (Dollars in thousands) The following table presents a reconciliation of the accumulated depreciation of real estate assets, as presented in Schedule III below, to the total accumulated depreciation for all property, plant and equipment presented on our Consolidated Balance Sheet as of December 31, 2019: Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III $ 1,072,013 Add Reconciling Items: Accumulated Depreciation - non-real estate assets(1) 1,412,193 Accumulated Depreciation - racking in leased facilities(2) 817,069 Accumulated Depreciation - financing leases(3) 124,594 Total Reconciling Items 2,353,856 Accumulated Depreciation, As Reported on Consolidated Balance Sheet $ 3,425,869 _______________________________________________________________________________ (1) Represents the accumulated depreciation of non-real estate assets that is included in the total accumulated depreciation of property, plant and equipment on our Consolidated Balance Sheet, but excluded from Schedule III as the assets to which this accumulated depreciation relates are not considered real estate assets associated with owned buildings. (2) Represents the accumulated depreciation of racking as of December 31, 2019 installed in our 1,150 leased facilities, which is included in total accumulated depreciation of property, plant and equipment on our Consolidated Balance Sheet, but excluded from Schedule III, as disclosed in Footnote 1 to Schedule III. (3) Represents the accumulated depreciation of buildings and building improvements as of December 31, 2019 that are subject to financing leases, which is included in the total accumulated depreciation of property, plant and equipment on our Consolidated Balance Sheet, but excluded from Schedule III, as disclosed in Footnote 1 to Schedule III. IRON MOUNTAIN INCORPORATED SCHEDULE III—SCHEDULE OF REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued) DECEMBER 31, 2019 (Dollars in thousands) (A) (B) (C) (D) (E) (F) Region/Country/State/Campus Address Facilities(1) Encumbrances Initial cost to Company(1) Cost capitalized subsequent to acquisition (1)(2) Gross amount carried at close of current period (1)(8) Accumulated depreciation at close of current period(1)(8) Date of construction or acquired(3) Life on which depreciation in latest income statement is computed North America United States (Including Puerto Rico) 140 Oxmoor Ct, Birmingham, Alabama 1 $ — $ 1,322 $ 953 $ 2,275 $ 1,107 2001 Up to 40 years 1420 North Fiesta Blvd, Gilbert, Arizona 1 — 1,637 2,737 4,374 1,937 2001 Up to 40 years 4802 East Van Buren, Phoenix, Arizona 1 — 15,599 141,274 156,873 257 2019 Up to 40 years 615 North 48th Street, Phoenix, Arizona 1 — 423,107 15,322 438,429 28,395 2018 (5) Up to 40 years 2955 S. 18th Place, Phoenix, Arizona 1 — 12,178 11,461 23,639 5,227 2007 Up to 40 years 4449 South 36th St, Phoenix, Arizona 1 — 7,305 1,045 8,350 5,002 2012 Up to 40 years 8521 E. Princess Drive, Scottsdale, Arizona 1 — 87,865 1,302 89,167 8,139 2018 (5) Up to 40 years 13379 Jurupa Ave, Fontana, California 1 — 10,472 8,714 19,186 9,930 2002 Up to 40 years 600 Burning Tree Rd, Fullerton, California 1 — 4,762 1,897 6,659 2,969 2002 Up to 40 years 21063 Forbes St., Hayward, California 1 — 13,407 351 13,758 2,666 2019 (7) Up to 40 years 5086 4th St, Irwindale, California 1 — 6,800 2,523 9,323 3,589 2002 Up to 40 years 6933 Preston Ave, Livermore, California 1 — 14,585 13,927 28,512 10,535 2002 Up to 40 years 1006 North Mansfield, Los Angeles, California 1 — 749 — 749 109 2014 Up to 40 years 1025 North Highland Ave, Los Angeles, California 1 — 10,168 26,191 36,359 13,914 1988 Up to 40 years 1350 West Grand Ave, Oakland, California 1 — 15,172 6,224 21,396 14,882 1997 Up to 40 years 1760 North Saint Thomas Circle, Orange, California 1 — 4,576 495 5,071 1,842 2002 Up to 40 years 8700 Mercury Lane, Pico Rivera, California 1 — 27,957 213 28,170 9,584 2012 Up to 40 years 8661 Kerns St, San Diego, California 1 — 10,512 6,821 17,333 7,352 2002 Up to 40 years 1915 South Grand Ave, Santa Ana, California 1 — 3,420 1,261 4,681 1,954 2001 Up to 40 years 2680 Sequoia Dr, South Gate, California 1 — 6,329 2,251 8,580 4,177 2002 Up to 40 years 336 Oyster Point Blvd, South San Francisco, California 1 — 15,100 18 15,118 2,168 2019 (7) Up to 40 years 25250 South Schulte Rd, Tracy, California 1 — 3,049 1,774 4,823 2,080 2001 Up to 40 years 3576 N. Moline, Aurora, Colorado 1 — 1,583 4,390 5,973 1,810 2001 Up to 40 years North Stone Ave, Colorado Springs, Colorado 2 — 761 2,718 3,479 1,771 2001 Up to 40 years 4300 Brighton Boulevard, Denver, Colorado 1 — 116,336 19,117 135,453 9,503 2017 Up to 40 years 11333 E 53rd Ave, Denver, Colorado 1 — 7,403 10,215 17,618 9,330 2001 Up to 40 years 5151 E. 46th Ave, Denver, Colorado 1 — 6,312 709 7,021 1,528 2014 Up to 40 years 20 Eastern Park Rd, East Hartford, Connecticut 1 — 7,417 1,891 9,308 6,125 2002 Up to 40 years Bennett Rd, Suffield, Connecticut 2 — 1,768 933 2,701 1,373 2000 Up to 40 years Kennedy Road, Windsor, Connecticut 2 — 10,447 31,140 41,587 20,432 2001 Up to 40 years 293 Ella Grasso Rd, Windsor Locks, Connecticut 1 — 4,021 2,019 6,040 2,846 2002 Up to 40 years 150-200 Todds Ln, Wilmington, Delaware 1 — 7,226 1,044 8,270 5,036 2002 Up to 40 years 13280 Vantage Way, Jacksonville, Florida 1 — 1,853 567 2,420 938 2001 Up to 40 years 12855 Starkey Rd, Largo, Florida 1 — 3,293 2,966 6,259 3,187 2001 Up to 40 years 7801 Riviera Blvd, Miramar, Florida 1 — 8,250 221 8,471 808 2017 Up to 40 years IRON MOUNTAIN INCORPORATED SCHEDULE III—SCHEDULE OF REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued) DECEMBER 31, 2019 (Dollars in thousands) (A) (B) (C) (D) (E) (F) Region/Country/State/Campus Address Facilities(1) Encumbrances Initial cost to Company(1) Cost capitalized subsequent to acquisition (1)(2) Gross amount Accumulated depreciation at close of current period(1)(8) Date of construction or acquired(3) Life on which depreciation in latest income statement is computed United States (Including Puerto Rico) (continued) 10002 Satellite Blvd, Orlando, Florida 1 $ — $ 1,927 $ 295 $ 2,222 $ 886 2001 Up to 40 years 3501 Electronics Way, West Palm Beach, Florida 1 — 4,201 13,678 17,879 6,968 2001 Up to 40 years 1890 MacArthur Blvd, Atlanta Georgia 1 — 1,786 742 2,528 1,123 2002 Up to 40 years 3881 Old Gordon Rd, Atlanta, Georgia 1 — 1,185 326 1,511 863 2001 Up to 40 years 5319 Tulane Drive SW, Atlanta, Georgia 1 — 2,808 3,940 6,748 3,146 2002 Up to 40 years 6111 Live Oak Parkway, Norcross, Georgia 1 — 3,542 1,648 5,190 390 2017 Up to 40 years 3150 Nifda Dr, Smyrna, Georgia 1 — 463 770 1,233 731 1990 Up to 40 years 1301 S. Rockwell St, Chicago, Illinois 1 — 7,947 19,657 27,604 15,927 1999 Up to 40 years 2211 W. Pershing Rd, Chicago, Illinois 1 — 4,264 13,979 18,243 8,435 2001 Up to 40 years 2425 South Halsted St, Chicago, Illinois 1 — 7,470 1,658 9,128 4,310 2006 Up to 40 years 2604 West 13th St, Chicago, Illinois 1 — 404 2,818 3,222 2,799 2001 Up to 40 years 2255 Pratt Blvd, Elk Grove, Illinois 1 — 1,989 3,892 5,881 1,516 2000 Up to 40 years 4175 Chandler Dr Opus No. Corp, Hanover Park, Illinois 1 — 22,048 2,461 24,509 9,552 2014 Up to 40 years 2600 Beverly Drive, Lincoln, Illinois 1 — 1,378 923 2,301 254 2015 Up to 40 years 6090 NE 14th Street, Des Moines, Iowa 1 — 622 504 1,126 408 2003 Up to 40 years South 7th St, Louisville, Kentucky 4 — 709 13,427 14,136 5,302 Various Up to 40 years 26 Parkway Drive (fka 133 Pleasant), Scarborough, Maine 1 — 8,337 387 8,724 3,151 2015 (7) Up to 40 years 8928 McGaw Ct, Columbia, Maryland 1 — 2,198 6,416 8,614 3,591 1999 Up to 40 years 10641 Iron Bridge Rd, Jessup, Maryland 1 — 3,782 1,337 5,119 2,618 2000 Up to 40 years 8275 Patuxent Range Rd, Jessup, Maryland 1 — 10,105 7,703 17,808 10,037 2001 Up to 40 years 96 High St, Billerica, Massachusetts 1 — 3,221 3,926 7,147 3,661 1998 Up to 40 years 120 Hampden St, Boston, Massachusetts 1 — 164 930 1,094 542 2002 Up to 40 years 32 George St, Boston, Massachusetts 1 — 1,820 5,391 7,211 5,431 1991 Up to 40 years 3435 Sharps Lot Rd, Dighton, Massachusetts 1 — 1,911 788 2,699 2,085 1999 Up to 40 years 77 Constitution Boulevard, Franklin, Massachusetts 1 — 5,413 218 5,631 713 2014 Up to 40 years 216 Canal St, Lawrence, Massachusetts 1 — 1,298 1,089 2,387 1,270 2001 Up to 40 years Bearfoot Road, Northboro, Massachusetts 2 — 55,923 12,506 68,429 40,067 Various Up to 40 years 38300 Plymouth Road, Livonia, Michigan 1 — 10,285 1,243 11,528 3,937 2015 (7) Up to 40 years 6601 Sterling Dr South, Sterling Heights, Michigan 1 — 1,294 1,150 2,444 1,240 2002 Up to 40 years 1985 Bart Ave, Warren, Michigan 1 — 1,802 530 2,332 1,113 2000 Up to 40 years Wahl Court, Warren, Michigan 2 — 3,426 2,635 6,061 3,705 Various Up to 40 years 31155 Wixom Rd, Wixom, Michigan 1 — 4,000 1,381 5,381 2,687 2001 Up to 40 years 3140 Ryder Trail South, Earth City, Missouri 1 — 3,072 3,398 6,470 2,351 2004 Up to 40 years Missouri Bottom Road, Hazelwood, Missouri 4 — 28,282 4,969 33,251 7,708 Various (7) Up to 40 years Leavenworth St/18th St, Omaha, Nebraska 3 — 2,924 19,736 22,660 7,533 Various Up to 40 years 4105 North Lamb Blvd, Las Vegas, Nevada 1 — 3,430 8,957 12,387 5,850 2002 Up to 40 years 17 Hydro Plant Rd, Milton, New Hampshire 1 — 6,179 4,351 10,530 6,523 2001 Up to 40 years IRON MOUNTAIN INCORPORATED SCHEDULE III—SCHEDULE OF REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued) DECEMBER 31, 2019 (Dollars in thousands) (A) (B) (C) (D) (E) (F) Region/Country/State/Campus Address Facilities(1) Encumbrances Initial cost to Company(1) Cost capitalized subsequent to acquisition (1)(2) Gross amount Accumulated depreciation at close of current period(1)(8) Date of construction or acquired(3) Life on which depreciation in latest income statement is computed United States (Including Puerto Rico) (continued) Kimberly Rd, East Brunsick, New Jersey 3 $ — $ 22,105 $ 5,924 $ 28,029 $ 14,303 Various Up to 40 years 3003 Woodbridge Avenue, Edison, New Jersey 1 — 310,404 36,772 347,176 19,038 2018 (5) Up to 40 years 811 Route 33, Freehold, New Jersey 3 — 38,697 55,396 94,093 52,431 Various Up to 40 years 51-69 & 77-81 Court St, Newark, New Jersey 1 — 11,734 9,774 21,508 1,478 2015 Up to 40 years 560 Irvine Turner Blvd, Newark, New Jersey 1 — 9,522 709 10,231 858 2015 Up to 40 years 231 Johnson Ave, Newark, New Jersey 1 — 8,945 1,855 10,800 905 2015 Up to 40 years 650 Howard Avenue, Somerset, New Jersey 1 — 3,585 11,808 15,393 6,027 2006 Up to 40 years 100 Bailey Ave, Buffalo, New York 1 — 1,324 11,086 12,410 6,584 1998 Up to 40 years 64 Leone Ln, Chester, New York 1 — 5,086 1,132 6,218 3,482 2000 Up to 40 years 1368 County Rd 8, Farmington, New York 1 — 2,611 4,788 7,399 4,609 1998 Up to 40 years County Rd 10, Linlithgo, New York 2 — 102 2,959 3,061 1,646 2001 Up to 40 years 77 Seaview Blvd, N. Hempstead New York 1 — 5,719 1,442 7,161 2,721 2006 Up to 40 years 37 Hurds Corner Road, Pawling, New York 1 — 4,323 1,285 5,608 2,271 2005 Up to 40 years Ulster Ave/Route 9W, Port Ewen, New York 3 — 23,137 11,277 34,414 22,318 2001 Up to 40 years Binnewater Rd, Rosendale, New York 2 — 5,142 11,664 16,806 7,062 Various Up to 40 years 220 Wavel St, Syracuse, New York 1 — 2,929 2,712 5,641 2,924 1997 Up to 40 years 2235 Cessna Drive, Burlington, North Carolina 1 — 1,602 328 1,930 222 2015 Up to 40 years 14500 Weston Pkwy, Cary, North Carolina 1 — 1,880 2,224 4,104 1,909 1999 Up to 40 years 826 Church Street, Morrisville, North Carolina 1 — 7,087 266 7,353 1,335 2017 Up to 40 years 1275 East 40th, Cleveland, Ohio 1 — 3,129 599 3,728 2,041 1999 Up to 40 years 7208 Euclid Avenue, Cleveland, Ohio 1 — 3,336 3,268 6,604 3,185 2001 Up to 40 years 4260 Tuller Ridge Rd, Dublin, Ohio 1 — 1,030 1,881 2,911 1,483 1999 Up to 40 years 3366 South Tech Boulevard, Miamisburg, Ohio 1 — 29,092 507 29,599 2,013 2018 (5) Up to 40 years 302 South Byrne Rd, Toledo, Ohio 1 — 602 1,081 1,683 752 2001 Up to 40 years Partnership Drive, Oklahoma City, Oklahoma 3 — 11,437 313 11,750 3,286 2015 (7) Up to 40 years 7530 N. Leadbetter Road, Portland, Oregon 1 — 5,187 1,874 7,061 4,170 2002 Up to 40 years Branchton Rd, Boyers, Pennsylvania 3 — 21,166 232,609 253,775 61,886 Various Up to 40 years 800 Carpenters Crossings, Folcroft, Pennsylvania 1 — 2,457 953 3,410 2,069 2000 Up to 40 years 36 Great Valley Pkwy, Malvern, Pennsylvania 1 — 2,397 7,076 9,473 4,420 1999 Up to 40 years 2300 Newlins Mill Road, Palmer Township, Pennsylvania 1 — 18,365 9,027 27,392 1,412 2017 Up to 40 years Henderson Dr/Elmwood Ave, Sharon Hill, Pennsylvania 2 — 24,153 105 24,258 12,362 Various Up to 40 years Las Flores Industrial Park, Rio Grande, Puerto Rico 1 — 4,185 3,447 7,632 4,416 2001 Up to 40 years 24 Snake Hill Road, Chepachet, Rhode Island 1 — 2,659 2,202 4,861 2,928 2001 Up to 40 years 1061 Carolina Pines Road, Columbia, South Carolina 1 — 11,776 2,340 14,116 3,223 2016 (7) Up to 40 years 2301 Prosperity Way, Florence, South Carolina 1 — 2,846 1,258 4,104 1,217 2016 (7) Up to 40 years Mitchell Street, Knoxville, Tennessee 2 — 718 4,557 5,275 2,022 Various Up to 40 years 6005 Dana Way, Nashville, Tennessee 2 — 1,827 2,915 4,742 1,921 2000 Up to 40 years IRON MOUNTAIN INCORPORATED SCHEDULE III—SCHEDULE OF REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued) DECEMBER 31, 2019 (Dollars in thousands) (A) (B) (C) (D) (E) (F) Region/Country/State/Campus Address Facilities(1) Encumbrances Initial cost to Company(1) Cost capitalized subsequent to acquisition (1)(2) Gross amount Accumulated depreciation at close of current period(1)(8) Date of construction or acquired(3) Life on which depreciation in latest income statement is computed United States (Including Puerto Rico) (continued) 11406 Metric Blvd, Austin, Texas 1 $ — $ 5,489 $ 2,211 $ 7,700 $ 4,090 2002 Up to 40 years 6600 Metropolis Drive, Austin, Texas 1 — 4,519 454 4,973 1,358 2011 Up to 40 years Capital Parkway, Carrollton, Texas 3 — 8,299 246 8,545 2,661 2015 (7) Up to 40 years 1800 Columbian Club Dr, Carrolton, Texas 1 — 19,673 1,179 20,852 9,438 2013 Up to 40 years 1905 John Connally Dr, Carrolton, Texas 1 — 2,174 791 2,965 1,387 2000 Up to 40 years 13425 Branchview Ln, Dallas, Texas 1 — 3,518 3,680 7,198 4,193 2001 Up to 40 years Cockrell Ave, Dallas, Texas 1 — 1,277 1,596 2,873 1,979 2000 Up to 40 years 1819 S. Lamar St, Dallas, Texas 1 — 3,215 1,083 4,298 2,578 2000 Up to 40 years 2000 Robotics Place Suite B, Fort Worth, Texas 1 — 5,328 2,065 7,393 2,951 2002 Up to 40 years 1202 Ave R, Grand Prairie, Texas 1 — 8,354 2,173 10,527 5,947 2003 Up to 40 years 15333 Hempstead Hwy, Houston, Texas 3 — 6,327 37,648 43,975 13,034 2004 Up to 40 years 2600 Center Street, Houston, Texas 1 — 2,840 2,172 5,012 2,575 2000 Up to 40 years 3502 Bissonnet St, Houston, Texas 1 — 7,687 692 8,379 5,840 2002 Up to 40 years 5249 Glenmont Ave, Houston, Texas 1 — 3,467 2,401 5,868 2,753 2000 Up to 40 years 5707 Chimney Rock, Houston, Texas 1 — 1,032 1,189 2,221 1,089 2002 Up to 40 years 5757 Royalton Dr, Houston, Texas 1 — 1,795 994 2,789 1,300 2000 Up to 40 years 6203 Bingle Rd, Houston, Texas 1 — 3,188 11,476 14,664 8,672 2001 Up to 40 years 7800 Westpark, Houston, Texas 1 — 6,323 1,276 7,599 1,832 2015 (7) Up to 40 years 9601 West Tidwell, Houston, Texas 1 — 1,680 2,305 3,985 1,302 2001 Up to 40 years 15300 FM 1825, Pflugerville, Texas 2 — 3,811 7,952 11,763 5,042 2001 Up to 40 years 930 Avenue B, San Antonio, Texas 1 — 393 245 638 259 1998 Up to 40 years 931 North Broadway, San Antonio, Texas 1 — 3,526 1,144 4,670 2,857 1999 Up to 40 years 1665 S. 5350 West, Salt Lake City, Utah 1 — 6,239 4,270 10,509 5,236 2002 Up to 40 years 11052 Lakeridge Pkwy, Ashland, Virginia 1 — 1,709 1,924 3,633 1,842 1999 Up to 40 years 2301 International Parkway, Fredericksburg, Virginia 1 — 20,980 30 21,010 5,777 2015 (7) Up to 40 years 4555 Progress Road, Norfolk, Virginia 1 — 6,527 1,088 7,615 3,297 2011 Up to 40 years 3725 Thirlane Rd. N.W., Roanoke, Virginia 1 — 2,577 172 2,749 1,119 2015 (7) Up to 40 years 7700-7730 Southern Dr, Springfield, Virginia 1 — 14,167 2,651 16,818 9,475 2002 Up to 40 years 8001 Research Way, Springfield, Virginia 1 — 5,230 2,790 8,020 3,384 2002 Up to 40 years 22445 Randolph Dr, Sterling, Virginia 1 — 7,598 3,724 11,322 6,018 2005 Up to 40 years 307 South 140th St, Burien, Washington 1 — 2,078 2,367 4,445 2,323 1999 Up to 40 years 8908 W. Hallett Rd, Cheney, Washington 1 — 510 4,259 4,769 2,066 1999 Up to 40 years 6600 Hardeson Rd, Everett, Washington 1 — 5,399 3,404 8,803 3,543 2002 Up to 40 years 19826 Russell Rd, South, Kent, Washington 1 — 14,793 9,752 24,545 10,705 2002 Up to 40 years 1201 N. 96th St, Seattle, Washington 1 — 4,496 2,112 6,608 3,556 2001 Up to 40 years 4330 South Grove Road, Spokane, Washington 1 — 3,906 850 4,756 472 2015 Up to 40 years 12021 West Bluemound Road, Wauwatosa, Wisconsin 1 — 1,307 2,124 3,431 1,445 1999 Up to 40 years 179 — 1,908,077 1,070,345 2,978,422 791,249 IRON MOUNTAIN INCORPORATED SCHEDULE III—SCHEDULE OF REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued) DECEMBER 31, 2019 (Dollars in thousands) (A) (B) (C) (D) (E) (F) Region/Country/State/Campus Address Facilities(1) Encumbrances Initial cost to Company(1) Cost capitalized subsequent to acquisition (1)(2) Gross amount Accumulated depreciation at close of current period(1)(8) Date of construction or acquired(3) Life on which depreciation in latest income statement is computed Canada One Command Court, Bedford 1 $ — $ 3,847 $ 4,482 $ 8,329 $ 4,126 2000 Up to 40 years 195 Summerlea Road, Brampton 1 — 5,403 6,479 11,882 5,357 2000 Up to 40 years 10 Tilbury Court, Brampton 1 — 5,007 17,257 22,264 7,916 2000 Up to 40 years 8825 Northbrook Court, Burnaby 1 — 8,091 2,062 10,153 4,648 2001 Up to 40 years 8088 Glenwood Drive, Burnaby 1 — 4,326 7,114 11,440 4,658 2005 Up to 40 years 5811 26th Street S.E., Calgary 1 — 14,658 8,509 23,167 11,114 2000 Up to 40 years 3905-101 Street, Edmonton 1 — 2,020 640 2,660 1,578 2000 Up to 40 years 68 Grant Timmins Drive, Kingston 1 — 3,639 660 4,299 330 2016 Up to 40 years 3005 Boul. Jean-Baptiste Deschamps, Lachine 1 — 2,751 138 2,889 1,382 2000 Up to 40 years 1655 Fleetwood, Laval 1 — 8,196 18,161 26,357 12,687 2000 Up to 40 years 4005 Richelieu, Montreal 1 — 1,800 2,531 4,331 1,699 2000 Up to 40 years 1209 Algoma Rd, Ottawa 1 — 1,059 6,899 7,958 4,019 2000 Up to 40 years 1650 Comstock Rd, Ottawa 1 — 7,478 (70 ) 7,408 2,647 2017 Up to 40 years 235 Edson Street, Saskatoon 1 — 829 1,676 2,505 855 2008 Up to 40 years 640 Coronation Drive, Scarborough 1 — 1,853 1,208 3,061 1,279 2000 Up to 40 years 610 Sprucewood Ave, Windsor 1 — 1,243 667 1,910 676 2007 Up to 40 years 16 — 72,200 78,413 150,613 64,971 195 — 1,980,277 1,148,758 3,129,035 856,220 IRON MOUNTAIN INCORPORATED SCHEDULE III—SCHEDULE OF REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued) DECEMBER 31, 2019 (Dollars in thousands) (A) (B) (C) (D) (E) (F) Region/Country/State/Campus Address Facilities(1) Encumbrances Initial cost to Cost capitalized (1)(2) Gross amount Accumulated Date of Life on which Europe Gewerbeparkstr. 3, Vienna, Austria 1 $ — $ 6,542 $ 8,051 $ 14,593 $ 3,514 2010 Up to 40 years Woluwelaan 147, Diegem, Belgium 1 — 2,541 6,309 8,850 4,218 2003 Up to 40 years Stupničke Šipkovine 62, Zagreb, Croatia 1 — 1,408 572 1,980 33 2018 Up to 40 years Kratitirion 9 Kokkinotrimithia Industrial District, Nicosia, Cyprus 1 — 3,136 3,227 6,363 434 2017 Up to 40 years Karyatidon 1, Agios Sylas Industrial Area (3rd), Limassol, Cyprus 1 — 1,935 (46 ) 1,889 158 2017 Up to 40 years 65 Egerton Road, Birmingham, England 1 — 6,980 1,550 8,530 4,888 2003 Up to 40 years Corby 278, Long Croft Road, Corby, England 1 — 20,486 744 21,230 537 2018 Up to 40 years Otterham Quay Lane, Gillingham, England 9 — 7,418 3,430 10,848 5,269 2003 Up to 40 years Pennine Way, Hemel Hempstead, England 1 — 10,847 6,113 16,960 7,002 2004 Up to 40 years Kemble Industrial Park, Kemble, England 2 — 5,277 6,990 12,267 8,524 2004 Up to 40 years Gayton Road, Kings Lynn, England 3 — 3,119 1,829 4,948 2,872 2003 Up to 40 years Cody Road, London, England 3 — 20,307 8,816 29,123 11,398 Various Up to 40 years 17 Broadgate, Oldham, England 1 — 4,039 342 4,381 2,342 2008 Up to 40 years Harpway Lane, Sopley, England 1 — 681 1,445 2,126 1,384 2004 Up to 40 years Unit 1A Broadmoor Road, Swindom, England 1 — 2,636 478 3,114 1,190 2006 Up to 40 years Jeumont-Schneider, Champagne Sur Seine, France 3 — 1,750 2,429 4,179 2,214 2003 Up to 40 years Bat I-VII Rue de Osiers, Coignieres, France 4 — 21,318 (747 ) 20,571 3,904 2016 (4) Up to 40 years 26 Rue de I Industrie, Fergersheim, France 1 — 1,322 (80 ) 1,242 235 2016 (4) Up to 40 years Bat A, B, C1, C2, C3 Rue Imperiale, Gue de Longroi, France 1 — 3,390 700 4,090 846 2016 (4) Up to 40 years Le Petit Courtin Site de Dois, Gueslin, Mingieres, France 1 — 14,141 (272 ) 13,869 1,838 2016 (4) Up to 40 years ZI des Sables, Morangis, France 1 582 12,407 15,136 27,543 18,712 2004 Up to 40 years 45 Rue de Savoie, Manissieux, Saint Priest, France 1 — 5,546 (185 ) 5,361 779 2016 (4) Up to 40 years Gutenbergstrabe 55, Hamburg, Germany 1 — 4,022 742 4,764 966 2016 (4) Up to 40 years Brommer Weg 1, Wipshausen, Germany 1 — 3,220 1,571 4,791 3,272 2006 Up to 40 years Warehouse and Offices 4 Springhill, Cork, Ireland 1 — 9,040 2,534 11,574 4,604 2014 Up to 40 years 17 Crag Terrace, Dublin, Ireland 1 — 2,818 742 3,560 1,333 2001 Up to 40 years Damastown Industrial Park, Dublin, Ireland 1 — 16,034 6,983 23,017 7,689 2012 Up to 40 years Portsmuiden 46, Amsterdam, The Netherlands 1 — 1,852 1,824 3,676 2,255 2015 (7) Up to 40 years Schepenbergweg 1, Amsterdam, The Netherlands 1 — 1,258 (657 ) 601 300 2015 (7) Up to 40 years Vareseweg 130, Rotterdam, The Netherlands 1 — 1,357 1,022 2,379 1,691 2015 (7) Up to 40 years Howemoss Drive, Aberdeen, Scotland 2 — 6,970 5,556 12,526 4,912 Various Up to 40 years Traquair Road, Innerleithen, Scotland 1 — 113 2,170 2,283 1,101 2004 Up to 40 years IRON MOUNTAIN INCORPORATED SCHEDULE III—SCHEDULE OF REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued) DECEMBER 31, 2019 (Dollars in thousands) (A) (B) (C) (D) (E) (F) Region/Country/State/Campus Address Facilities(1) Encumbrances Initial cost to Company(1) Cost capitalized subsequent to acquisition (1)(2) Gross amount Accumulated depreciation at close of current period(1)(8) Date of construction or acquired(3) Life on which depreciation in latest income statement is computed Europe (Continued) Nettlehill Road, Houston Industrial Estate, Livingston, Scotland 1 $ — $ 11,517 $ 25,433 $ 36,950 $ 17,916 2001 Up to 40 years Av Madrid s/n Poligono Industrial Matillas, Alcala de Henares, Spain 1 — 186 317 503 264 2014 Up to 40 years Calle Bronce, 37, Chiloeches, Spain 1 — 11,011 1,845 12,856 3,088 2010 Up to 40 years Ctra M.118 , Km.3 Parcela 3, Madrid, Spain 1 — 3,981 5,719 9,700 6,460 2001 Up to 40 years Abanto Ciervava, Spain 2 — 1,053 (75 ) 978 446 Various Up to 40 years 57 582 231,658 122,557 354,215 138,588 Latin America Amancio Alcorta 2396, Buenos Aires, Argentina 2 — 655 1,188 1,843 535 Various Up to 40 years Azara 1245, Buenos Aires, Argentina 1 — 166 (162 ) 4 — 1998 Up to 40 years Saraza 6135, Buenos Aires, Argentina 1 — 144 98 242 52 1995 Up to 40 years Spegazzini, Ezeiza Buenos Aires, Argentina 1 — 12,773 (9,554 ) 3,219 582 2012 Up to 40 years Av Ernest de Moraes 815, Bairro Fim do Campo, Jarinu Brazil 1 — 12,562 (2,267 ) 10,295 1,524 2016 (4) Up to 40 years Rua Peri 80, Jundiai, Brazil 2 — 8,894 (1,760 ) 7,134 1,141 2016 (4) Up to 40 years Francisco de Souza e Melo, Rio de Janerio, Brazil 3 — 1,868 10,436 12,304 3,341 Various Up to 40 years Hortolandia, Sao Paulo, Brazil 1 — 24,078 1,279 25,357 3,569 2014 Up to 40 years El Taqueral 99, Santiago, Chile 2 — 2,629 32,773 35,402 11,212 2006 Up to 40 years Panamericana Norte 18900, Santiago, Chile 5 — 4,001 18,831 22,832 7,261 2004 Up to 40 years Avenida Prolongacion del Colli 1104, Guadalajara, Mexico 1 — 374 1,292 1,666 1,016 2002 Up to 40 years Privada Las Flores No. 25 (G3), Guadalajara, Mexico 1 — 905 1,278 2,183 998 2004 Up to 40 years Tula KM Parque de Las, Huehuetoca, Mexico 2 — 19,937 (771 ) 19,166 2,864 2016 (4) Up to 40 years Carretera Pesqueria Km2.5(M3), Monterrey, Mexico 2 — 3,537 3,691 7,228 2,636 2004 Up to 40 years Lote 2, Manzana A, (T2& T3), Toluca, Mexico 1 — 2,204 4,790 6,994 5,167 2002 Up to 40 years Prolongacion de la Calle 7 (T4), Toluca, Mexico 1 — 7,544 15,171 22,715 7,341 2007 Up to 40 years Panamericana Sur, KM 57.5, Lima, Peru 7 — 1,549 893 2,442 1,203 Various Up to 40 years Av. Elmer Faucett 3462, Lima, Peru 2 1,232 4,112 5,314 9,426 4,656 Various Up to 40 years Calle Los Claveles-Seccion 3, Lima, Peru 1 — 8,179 32,720 40,899 9,227 2010 Up to 40 years 37 1,232 116,111 115,240 231,351 64,325 IRON MOUNTAIN INCORPORATED SCHEDULE III—SCHEDULE OF REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued) DECEMBER 31, 2019 (Dollars in thousands) (A) (B) (C) (D) (E) (F) Region/Country/State/Campus Address Facilities(1) Encumbrances Initial cost to Cost capitalized (1)(2) Gross amount Accumulated Date of Life on which Asia Warehouse No 4, Shanghai, China 1 $ — $ 1,530 $ 671 $ 2,201 $ 373 2013 Up to 40 years Jalan Karanggan Muda Raya No 59, Bogor Indonesia 1 — 7,897 (316 ) 7,581 2,195 2017 Up to 40 years 1 Serangoon North Avenue 6, Singapore 1 — 58,637 21,633 80,270 5,058 2018 (7) Up to 40 years 2 Yung Ho Road, Singapore 1 — 10,395 871 11,266 836 2016 (4) Up to 40 years 26 Chin Bee Drive, Singapore 1 — 15,699 1,315 17,014 1,262 2016 (4) Up to 40 years IC1 69 Moo 2, Soi Wat Namdaeng, Bangkok, Thailand 2 — 13,226 6,136 19,362 2,659 2016 (4) Up to 40 years 7 — 107,384 30,310 137,694 12,383 Australia 8 Whitestone Drive, Austins Ferry, Australia 1 — 681 2,532 3,213 404 2012 Up to 40 years 6 Norwich Street, South Launceston, Australia 1 — 1,090 (83 ) 1,007 93 2015 Up to 40 years 2 — 1,771 2,449 4,220 497 Total 298 $ 1,814 $ 2,437,201 $ 1,419,314 $ 3,856,515 $ 1,072,013 ____________________________________ (1) The above information only includes the real estate facilities that are owned. The gross cost includes the cost for land, land improvements, buildings, building improvements and racking. The listing does not reflect the 1,150 leased facilities in our real estate portfolio. In addition, the above information does not include any value for financing leases for property that is classified as land, buildings and building improvements in our consolidated financial statements. (2) Amount includes cumulative impact of foreign currency translation fluctuations. (3) Date of construction or acquired represents the date we constructed the facility, acquired the facility through purchase or acquisition. (4) Property was acquired in connection with the Recall Transaction. (5) Property was acquired in connection with the IODC Transaction. (6) Property was acquired in connection with the Credit Suisse Transaction. (7) This date represents the date the categorization of the property was changed from a leased facility to an owned facility. IRON MOUNTAIN INCORPORATED SCHEDULE III—SCHEDULE OF REAL ESTATE AND ACCUMULATED DEPRECIATION (Continued) DECEMBER 31, 2019 (Dollars in thousands) (8) The following tables present the changes in gross carrying amount of real estate owned and accumulated depreciation for the years ended December 31, 2019 and 2018: Year Ended December 31, Gross Carrying Amount of Real Estate 2019 2018 Gross amount at beginning of period $ 3,700,307 $ 2,707,925 Additions during period: Discretionary capital projects 278,508 155,901 Acquisitions(1) — 918,091 Other adjustments(2) 25,077 — Foreign currency translation fluctuations 5,978 (58,798 ) 309,563 1,015,194 Deductions during period: Cost of real estate sold, disposed or written-down (153,355 ) (22,812 ) Gross amount at end of period $ 3,856,515 $ 3,700,307 _______________________________________________________________________________ (1) Includes acquisition of sites through business combinations and purchase accounting adjustments. (2) Includes costs associated with real estate we acquired which primarily includes building improvements and racking, which were previously subject to leases. Year Ended December 31, Accumulated Depreciation 2019 2018 Gross amount of accumulated depreciation at beginning of period $ 1,011,050 $ 909,092 Additions during period: Depreciation 122,366 125,280 Other adjustments(1) 1,314 — Foreign currency translation fluctuations 3,514 (16,016 ) 127,194 109,264 Deductions during period: Amount of accumulated depreciation for real estate assets sold, disposed or written-down (66,231 ) (7,306 ) Gross amount of end of period $ 1,072,013 $ 1,011,050 _______________________________________________________________________________ (1) Includes accumulated depreciation associated with building improvements and racking, which were previously subject to leases. The aggregate cost of our real estate assets for federal tax purposes at December 31, 2019 was approximately $3,812,000 . |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Principals of Consolidation | Principles of Consolidation The accompanying financial statements reflect our financial position, results of operations, comprehensive income (loss), equity and cash flows on a consolidated basis. All intercompany transactions and account balances have been eliminated. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires us to make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities at the date of the financial statements and for the period then ended. On an ongoing basis, we evaluate the estimates used. We base our estimates on historical experience, actuarial estimates, current conditions and various other assumptions that we believe to be reasonable under the circumstances. These estimates form the basis for making judgments about the carrying values of assets and liabilities and are not readily apparent from other sources. Actual results may differ from these estimates. |
Cash, Cash Equivalents and Restricted Cash | Cash, Cash Equivalents and Restricted Cash 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. |
Foreign Currency | Foreign Currency |
Derivatives Instruments and Hedging Activities | Derivative Instruments and Hedging Activities Every derivative instrument is required to be recorded in the balance sheet as either an asset or a liability measured at its fair value. Periodically, we acquire derivative instruments that are intended to hedge either cash flows or values that are subject to foreign exchange or other market price risk and not for trading purposes. We have formally documented our hedging relationships, including identification of the hedging instruments and the hedged items, as well as our risk management objectives and strategies for undertaking each hedge transaction. Given the recurring nature of our revenues and the long-term nature of our asset base, we have the ability and the preference to use long-term, fixed interest rate debt to finance our business, thereby preserving our long-term returns on invested capital. We target approximately 75% |
Property, Plant and Equipment | Minor maintenance costs are expensed as incurred. Major improvements which extend the life, increase the capacity or improve the safety or the efficiency of property owned are capitalized and depreciated. Major improvements to leased buildings are capitalized as leasehold improvements and depreciated. Property, plant and equipment are stated at cost and depreciated using the straight-line method with the following useful lives (in years): Range Buildings and building improvements 5 to 40 Leasehold improvements 5 to 10 or life of the lease (whichever is shorter) Racking 1 to 20 or life of the lease (whichever is shorter) Warehouse equipment/vehicles 1 to 10 Furniture and fixtures 1 to 10 Computer hardware and software 2 to 5 We develop various software applications for internal use. Computer software costs associated with internal use software are expensed as incurred until certain capitalization criteria are met. Third party consulting costs, as well as payroll and related costs for employees directly associated with, and devoting time to, the development of internal use computer software projects (to the extent time is spent directly on the project) are capitalized. During the years ended December 31, 2019 , 2018 and 2017 , we capitalized $34,650 , $29,407 and $25,166 of costs, respectively, associated with the development of internal use computer software projects. Capitalization begins when the design stage of the application has been completed and it is probable that the project will be completed and used to perform the function intended. Capitalization ends when the asset is ready for its intended use. Depreciation begins when the software is placed in service. Computer software costs that are capitalized are periodically evaluated for impairment. |
Long-Lived Assets | Long-Lived Assets We review long-lived assets, including all finite-lived intangible assets, for impairment whenever events or changes in circumstances indicate the carrying amount of such assets may not be recoverable. Recoverability of these assets is determined by comparing the sum of the forecasted undiscounted net cash flows of the operation to which the assets relate to their carrying amount. The operations are generally distinguished by the business segment and geographic region in which they operate. If it is determined that we are unable to recover the carrying amount of the assets, the long-lived assets are written down, on a pro rata basis, to fair value. Fair value is determined based on discounted cash flows or appraised values, depending upon the nature of the assets. Long-lived assets, including finite-lived intangible assets, are amortized over their useful lives. Annually, or more frequently if events or circumstances warrant, we assess whether a change in the lives over which long-lived assets, including finite-lived intangible assets, are amortized is necessary. |
Goodwill and Other Intangible Assets | Goodwill and Other Indefinite-Lived Intangible Assets Goodwill and intangible assets with indefinite lives are not amortized but are reviewed annually for impairment or more frequently if impairment indicators arise. Other than goodwill, we currently have no intangible assets that have indefinite lives and which are not amortized. Reporting unit valuations have generally been determined using a combined approach based on the present value of future cash flows (the "Discounted Cash Flow Model") and market multiples (the "Market Approach"). The Discounted Cash Flow Model incorporates significant assumptions including future revenue growth rates, operating margins, discount rates and capital expenditures. The Market Approach requires us to make assumptions related to Adjusted EBITDA multiples. Changes in economic and operating conditions impacting these assumptions or changes in multiples could result in goodwill impairments in future periods. In conjunction with our annual goodwill impairment reviews, we reconcile the sum of the valuations of all of our reporting units to our market capitalization as of such dates. |
Customer Relationships and Acquisitions Costs and Other Intangible Assets | Data Center Intangible Assets and Liabilities Finite-lived intangible assets associated with our Global Data Center Business consist of the following: Data Center In-Place Lease Intangible Assets and Data Center Tenant Relationship Intangible Assets Data Center In-Place Lease Intangible Assets (“Data Center In-Place Leases”) and Data Center Tenant Relationship Intangible Assets (“Data Center Tenant Relationships") are acquired through either business combinations or asset acquisitions in our Global Data Center Business. These intangible assets reflect the value associated with acquiring a data center operation with active tenants as of the date of acquisition. The value of Data Center In-Place Leases is determined based upon an estimate of the economic costs (such as lost revenues, tenant improvement costs, commissions, legal expenses and other costs to acquire new data center leases) avoided by acquiring a data center operation with active tenants that would have otherwise been incurred if the data center operation was purchased vacant. Data Center In-Place Leases are amortized over the weighted average remaining term of the acquired data center leases (weighted average of five years as of December 31, 2019 ) and are included in depreciation and amortization in the accompanying Consolidated Statements of Operations. The value of Data Center Tenant Relationships is determined based upon an estimate of the economic costs avoided upon lease renewal of the acquired tenants, based upon expectations of lease renewal. Data Center Tenant Relationships are amortized over the weighted average remaining anticipated life of the relationship with the acquired tenant (weighted average of eight years as of December 31, 2019 ) and are included in depreciation and amortization in the accompanying Consolidated Statements of Operations. Data Center In-Place Leases and Data Center Tenant Relationships are included in Customer relationships, customer inducements and data center lease-based intangibles in the accompanying Consolidated Balance Sheets. Data Center Above-Market and Below-Market In-Place Lease Intangible Assets Data Center Above-Market In-Place Lease Intangible Assets (“Data Center Above-Market Leases”) and Data Center Below-Market In-Place Lease Intangible Assets (“Data Center Below-Market Leases”) are acquired through either business combinations or asset acquisitions in our Global Data Center Business. We record Data Center Above-Market Leases and Data Center Below-Market Leases at the net present value of the difference between (i) the contractual amounts to be paid pursuant to each in-place lease and (ii) management’s estimate of the fair market lease rates for each corresponding in-place lease. Data Center Above-Market Leases (weighted average of four years as of December 31, 2019 ) and Data Center Below-Market Leases (weighted average of nine years as of December 31, 2019 ) are amortized over the remaining non-cancellable term of the acquired in-place lease to storage revenue in the accompanying Consolidated Statements of Operations. Data Center Above-Market Leases are included in Customer relationships, customer inducements and data center lease-based intangibles in the accompanying Consolidated Balance Sheets. Data Center Below-Market Leases are included in Other long-term liabilities in the accompanying Consolidated Balance Sheets. Other finite-lived intangible assets, including trade names, noncompetition agreements and trademarks, are capitalized and amortized over a weighted average of four years as of December 31, 2019 , and are included in depreciation and amortization in the accompanying Consolidated Statements of Operations. Customer relationship intangible assets, which are acquired through either business combinations or acquisitions of customer relationships, are amortized over periods ranging from 10 to 30 years (weighted average of 17 years at December 31, 2019 ) and are included in depreciation and amortization in the accompanying Consolidated Statements of Operations. The value of customer relationship intangible assets is calculated based upon estimates of their fair value. |
Deferred Financing Costs | Deferred Financing Costs |
Revenues | Customer Inducements Upon the adoption of ASU 2014-09, free intake costs to transport boxes to one of our facilities, which include labor and transportation costs ("Free Move Costs"), are considered a Contract Fulfillment Cost (as defined in Note 2.l.) and, therefore, are now deferred and amortized and included in amortization expense over three years , consistent with the transfer of the performance obligation to the customer to which the asset relates. See Note 2.l. for information regarding the accounting for Free Move Costs, which are now a component of Intake Costs (as defined in Note 2.l.), following the adoption of ASU 2014-09. Payments that are made to a customer's current records management vendor in order to terminate the customer's existing contract with that vendor, or direct payments to a customer ("Permanent Withdrawal Fees"), are amortized over periods ranging from five to 15 years (weighted average of seven years as of December 31, 2019 ) and are included in storage and service revenue in the accompanying Consolidated Statements of Operations. Our accounting for Permanent Withdrawal Fees did not change as a result of the adoption of ASU 2014-09. Free Move Costs (prior to the adoption of ASU 2014-09) and Permanent Withdrawal Fees are collectively referred to as "Customer Inducements". If the customer terminates its relationship with us, the unamortized carrying value of the Customer Inducement intangible asset is charged to expense or revenue. However, in the event of such termination, we generally collect, and record as income, permanent removal fees that generally equal or exceed the amount of the unamortized Customer Inducement intangible asset. Our revenues consist of storage rental revenues as well as service revenues and are reflected net of sales and value-added taxes. Storage rental revenues, which are considered a key driver of financial performance for the storage and information management services industry, consist primarily of recurring periodic rental charges related to the storage of materials or data (generally on a per unit basis) that are typically retained by customers for many years, technology escrow services that protect and manage source code and revenues associated with our data center operations. Service revenues include charges for related service activities, the most significant of which include: (1) the handling of records, including the addition of new records, temporary removal of records from storage, refiling of removed records and courier operations, consisting primarily of the pickup and delivery of records upon customer request; (2) destruction services, consisting primarily of secure shredding of sensitive documents and the subsequent sale of shredded paper for recycling, the price of which can fluctuate from period to period, and customer termination and permanent removal fees; (3) other services, including the scanning, imaging and document conversion services of active and inactive records and project revenues; and (4) consulting services. In May 2014, the Financial Accounting Standards Board ("FASB") issued ASU 2014-09. ASU 2014-09 provides guidance for management to reassess revenue recognition as it relates to: (1) transfer of control, (2) variable consideration, (3) allocation of transaction price based on relative standalone selling price, (4) licenses, (5) time value of money, and (6) contract costs. We adopted ASU 2014-09 as of January 1, 2018 using the modified retrospective method for all of our customer contracts, whereby the cumulative effect of applying ASU 2014-09 is recognized at the date of initial application. At January 1, 2018, we recognized the cumulative effect of initially applying ASU 2014-09 as an adjustment to the opening balance of (Distributions in excess of earnings) Earnings in excess of distributions, resulting in a decrease of approximately $30,200 to stockholders' equity. The reduction of (Distribution in excess of earnings) Earnings in excess of distributions represents the net effect of (i) the write-off of Free Move Costs, net (which were capitalized and amortized prior to the adoption of ASU 2014-09) based upon the net book value of the Free Move Costs as of December 31, 2017, (ii) the recognition of certain Contract Fulfillment Costs, specifically Intake Costs (each as defined below) and commission assets, (iii) the recognition of deferred revenue associated with Intake Costs billed to our customers, and (iv) the deferred income tax impact of the aforementioned items. As we adopted ASU 2014-09 on a modified retrospective basis, the prior period consolidated financial statements were not restated to reflect the adoption of ASU 2014-09 and reflect our revenue policies in place at that time. Storage rental and service revenues are recognized in the month the respective storage rental or service is provided, and customers are generally billed on a monthly basis on contractually agreed-upon terms. Amounts related to future storage rental or prepaid service contracts for customers where storage rental fees or services are billed in advance are accounted for as deferred revenue and recognized ratably over the period the applicable storage rental or service is provided or performed. Revenues from the sales of products, which are included as a component of service revenues, are recognized when products are shipped and title has passed to the customer. Revenues from the sales of products, which represented less than 2% of consolidated revenue for the year ended December 31, 2019 , have historically not been significant. The performance obligation is a series of distinct services (as determined for purposes of ASU 2014-09, a “series”) that have the same pattern of transfer to the customer that is satisfied over time. For those contracts that qualify as a series, we have a right to consideration from the customer in an amount that corresponds directly with the value of the underlying performance obligation transferred to the customer to date. This concept is known as "right to invoice" and we are applying the "right to invoice" practical expedient to all revenues, with the exception of storage revenues in our Global Data Center Business. For all of our businesses, with the exception of the storage component of our Global Data Center Business, each purchasing decision is fully in the control of the customer and, therefore, consideration beyond the current reporting period is variable and allocated to the specific period, which is consistent with the practical expedient described above. Our Global Data Center Business features storage rental provided to the customer at contractually specified rates over a fixed contractual period. The storage rental revenue related to the storage component of our Global Data Center Business is recognized on a straight-line basis over the contract term. The revenue related to the service component of our Global Data Center Business is recognized in the period the related services are provided. 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 (“Contract Fulfillment Costs”). The following describes each of these Contract Fulfillment Costs recognized under ASU 2014-09: Intake Costs (and associated deferred revenue) Upon the adoption of ASU 2014-09, all the costs of the initial intake of customer records into physical storage ("Intake Costs"), regardless of whether or not the services associated with such initial moves are billed to the customer or are provided to the customer at no charge, are deferred and amortized as a component of depreciation and amortization in our Consolidated Statements of Operations over three years, consistent with the transfer of the performance obligation to the customer to which the asset relates. Similarly, in instances where such Intake Costs are billed to the customer, the associated revenue will be deferred and recognized over the same three -year period. Commissions Upon the adoption of ASU 2014-09, certain commission payments that are directly associated with the fulfillment of long-term storage contracts are capitalized and amortized as a component of depreciation and amortization in our Consolidated Statements of Operations over three years, consistent with the transfer of the performance obligation to the customer to which the asset relates. Certain direct commission payments associated with contracts with a duration of one year or less are expensed as incurred under the practical expedient which allows an entity to expense as incurred an incremental cost of obtaining a contract if the amortization period of the asset that the entity otherwise would have recognized is one year or less. |
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. The majority of our leased facilities are classified as operating leases that, on average, have initial lease terms of five to 10 years , with one or more lease renewal options to extend the lease term. Our lease renewal option terms generally range from one to five years . The exercise of the lease renewal option is at our sole discretion and may contain fixed rent, fair market value based rent or Consumer Price Index rent escalation clauses. We include option periods in the lease term when our failure to renew the lease would result in an economic disincentive, thereby making it reasonably certain that we will renew the lease. We recognize straight line rental expense over the life of the lease and any fair market value or Consumer Price Index rent escalations are recognized as variable lease expense in the period in which the obligation is incurred. In addition, we lease certain vehicles and equipment. Vehicle and equipment leases typically have lease terms ranging from one to seven years . In February 2016, FASB issued ASU 2016-02 which requires lessees to recognize assets and liabilities on the balance sheet for the rights and the obligations created by all leases, both operating and financing (formerly referred to as capital leases under ASC 840). ASU 2016-02 requires certain qualitative and quantitative disclosures designed to give financial statement users information on the amount, timing, and uncertainty of cash flows arising from leases. We adopted ASU 2016-02 on January 1, 2019 on a modified retrospective basis under which we recognized and measured leases existing at, or entered into after, the beginning of the period of adoption. Therefore, we applied ASC 840 to all earlier comparative periods (prior to the adoption of ASU 2016-02), including disclosures, and recognized the effects of applying ASU 2016-02 as a cumulative-effect adjustment to (Distributions in excess of earnings) Earnings in excess of distributions as of January 1, 2019, the effective date of the standard. As such, our Consolidated Balance Sheet as of December 31, 2018 has not been restated to reflect the adoption of ASU 2016-02. Accordingly, the majority of the amount presented as deferred rent liabilities on our Consolidated Balance Sheet as of December 31, 2018 is now included in the calculation of operating lease right-of-use assets and any remaining amounts are now classified within other liability line items on our Consolidated Balance Sheet as of December 31, 2019. The transition guidance associated with ASU 2016-02 also permitted certain practical expedients. We elected the "package of 3" practical expedients permitted under the transition guidance which, among other things, allowed us to carry forward our historical lease classifications. We also adopted an accounting policy which provides that leases with an initial term of 12 months or less will not be included within the lease right-of-use assets and lease liabilities recognized on our Consolidated Balance Sheets after the adoption of ASU 2016-02. We will continue to recognize the lease payments for those leases with an initial term of 12 months or less in our Consolidated Statements of Operations on a straight-line basis over the lease term. The lease right-of-use assets and related lease liabilities are classified as either operating or financing. Lease right-of-use assets are calculated as the net present value of future payments plus any capitalized initial direct costs less any tenant improvements or lease incentives. Lease liabilities are calculated as the net present value of future payments. In calculating the present value of the lease payments, we will utilize the rate stated in the lease (in the limited circumstances when such rate is explicitly stated) or, if no rate is explicitly stated, we have elected to utilize a rate that reflects our securitized incremental borrowing rate by geography for the lease term. In July 2018, the FASB issued ASU No. 2018-11, Leases - Targeted Improvements ("ASU 2018-11"). ASU 2018-11 provides a practical expedient which allows lessees to account for nonlease components (which include common area maintenance, taxes, and insurance) with the related lease component. Any variable nonlease components are not included within the lease right-of-use asset and lease liability on our Consolidated Balance Sheets, and instead, are reflected as an expense in the period incurred. We have elected to take this practical expedient upon adoption of ASU 2016-02. |
Stock-Based Compensation | Stock-Based Compensation We record stock-based compensation expense, utilizing the straight-line method, for 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, "Employee Stock-Based Awards"). We offer an ESPP in which participation is available to substantially all United States and Canadian employees who meet certain service eligibility requirements. The ESPP provides a way for our eligible employees to become stockholders on favorable terms. The ESPP provides for the purchase of our common stock by eligible employees through successive offering periods. We have historically had two six -month offering periods per year, the first of which generally runs from June 1 through November 30 and the second of which generally runs from December 1 through May 31. During each offering period, participating employees accumulate after-tax payroll contributions, up to a maximum of 15% of their compensation, to pay the purchase price at the end of the offering. Participating employees may withdraw from an offering before the purchase date and obtain a refund of the amounts withheld as payroll deductions. At the end of the offering period, outstanding options under the ESPP are exercised, and each employee's accumulated contributions are used to purchase our common stock. The price for shares purchased under the ESPP is 95% Stock Options Under our various stock option plans, options are generally granted with exercise prices equal to the market price of the stock on the date of grant; however, in certain instances, options are granted at prices greater than the market price of the stock on the date of grant. The options we issue become exercisable ratably over a period of either (i) three years from the date of grant and have a contractual life of 10 years from the date of grant, unless the holder's employment is terminated sooner, or (ii) five years from the date of grant and have a contractual life of 10 years from the date of grant, unless the holder's employment is terminated sooner. Our non-employee directors are considered employees for purposes of our stock option plans and stock option reporting. Performance Units Under our various equity compensation plans, we may also make awards of PUs. For the majority of outstanding PUs, the number of PUs earned is determined based on our performance against predefined targets of revenue and return on invested capital ("ROIC") and, with PUs granted in 2018, Adjusted EBITDA (as defined in Note 9). The number of PUs earned may range from 0% to 200% of the initial award. The number of PUs earned is determined based on our actual performance as compared to the targets at the end of a three -year performance period. Certain PUs that we grant will be earned based on a market condition associated with the total return on our common stock in relation to either (i) a subset of the Standard & Poor's 500 Index (for certain PUs granted prior to 2017), or (ii) the MSCI United States REIT Index (for certain PUs granted in 2017 and thereafter), rather than the revenue, ROIC and Adjusted EBITDA targets noted above. The number of PUs earned based on this market condition may range from 0% to 200% of the initial award. All of our PUs will be settled in shares of our common stock and are subject to cliff vesting three years from the date of the original PU grant. As detailed above, PUs granted on or after February 20, 2019 are subject to the 2019 Retirement Criteria. PUs granted to recipients who meet the 2019 Retirement Criteria will continue to vest and be delivered in accordance with the original vesting schedule of the applicable PU award and remain subject to the same performance conditions. PUs granted prior to February 20, 2019 to employees who terminate their employment during the three -year performance period and on or after attaining age 55 and completing 10 years of qualifying service are eligible for pro-rated vesting, subject to the actual achievement against the predefined targets or a market condition as discussed above, based on the number of full years of service completed following the grant date (but delivery of the shares remains deferred). As a result, PUs are generally expensed over the three-year performance period. All PUs accrue dividend equivalents associated with the underlying stock as we declare dividends. Dividends will generally be paid to holders of PUs in cash upon the settlement date of the associated PU and will be forfeited if the PU does not vest. three Under our various equity compensation plans, we may also grant RSUs. Our RSUs generally have a vesting period of three years from the date of grant. However, RSUs granted to our non-employee directors vest immediately upon grant. All RSUs accrue dividend equivalents associated with the underlying stock as we declare dividends. Dividends will generally be paid to holders of RSUs in cash upon the vesting date of the associated RSU and will be forfeited if the RSU does not vest. The fair value of RSUs is the excess of the market price of our common stock at the date of grant over the purchase price (which is typically zero). Expected volatility is calculated utilizing daily historical volatility over a period that equates to the expected life of the option. The risk-free interest rate was based on the United States Treasury interest rates whose term is consistent with the expected life (estimated period of time outstanding) of the stock options. Expected dividend yield is considered in the option pricing model and represents our current annualized expected per share dividends over the current trade price of our common stock. The expected life of the stock options granted is estimated using the historical exercise behavior of employees. |
Income Taxes | Income Taxes Accounting for income taxes requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the tax and financial reporting bases of assets and liabilities and for loss and credit carryforwards. Valuation allowances are provided when recovery of deferred tax assets does not meet the more likely than not standard as defined in GAAP. We have elected to recognize interest and penalties associated with uncertain tax positions as a component of the Provision (benefit) for income taxes in the accompanying Consolidated Statements of Operations. |
Income (Loss) Per Share-Basic and Diluted | Income (Loss) Per Share—Basic and Diluted |
Allowance for Doubtful Accounts and Credit Memo Reserves | We maintain an allowance for doubtful accounts and credit memos for estimated losses resulting from the potential inability of our customers to make required payments and potential disputes regarding billing and service issues. When calculating the allowance, we consider our past loss experience, current and prior trends in our aged receivables and credit memo activity, current economic conditions and specific circumstances of individual receivable balances. If the financial condition of our customers were to significantly change, resulting in a significant improvement or impairment of their ability to make payments, an adjustment of the allowance may be required. We write-off uncollectible balances as circumstances warrant, generally, no later than one year past due. |
Concentrations of Credit Risk | As per our risk management investment policy, we limit exposure to concentration of credit risk by limiting the amount invested in any one mutual fund to a maximum of 1% of the fund total assets or in any one financial institution to a maximum of $75,000 |
Fair Value Measurements | Fair Value Measurements Entities are permitted under GAAP to elect to measure certain financial instruments and certain other items at either fair value or cost. We have elected the cost measurement option. Our financial assets or liabilities that are carried at fair value are required to be measured using inputs from the three levels of the fair value hierarchy. A financial asset or liability's classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The three levels of the fair value hierarchy are as follows: Level 1—Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that we have the ability to access at the measurement date. Level 2—Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). |
Redeemable Noncontrolling Interests | Redeemable Noncontrolling Interests Certain unaffiliated third parties own noncontrolling interests in our consolidated subsidiaries in Chile, India and South Africa. The underlying agreements between us and our noncontrolling interest shareholders for these subsidiaries contain provisions under which the noncontrolling interest shareholders can require us to purchase their respective interests in such subsidiaries at certain times and at a purchase price as stipulated in the underlying agreements (generally at fair value). These put options make these noncontrolling interests redeemable and, therefore, these noncontrolling interests are classified as temporary equity outside of stockholders' equity. Redeemable noncontrolling interests are reported at the higher of their redemption value or the noncontrolling interest holders' proportionate share of the underlying subsidiaries net carrying value. Increases or decreases in the redemption value of the noncontrolling interest are offset against Additional Paid-in Capital. |
New Accounting Pronouncements | New Accounting Pronouncements Recently Adopted Accounting Pronouncements In August 2018, the FASB issued ASU No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (a consensus of the FASB Emerging Issues Task Force) ("ASU 2018-15"). ASU 2018-15 aligns the accounting for costs incurred to implement a cloud computing arrangement that is a service arrangement with the guidance on capitalizing costs associated with developing or obtaining internal-use software. We adopted ASU 2018-15 on January 1, 2019. ASU 2018-15 did not have a material impact on our consolidated financial statements. In February 2016, the FASB issued ASU 2016-02. We adopted ASU 2016-02 on January 1, 2019 on a modified retrospective basis. See Note 2.m. for information regarding the impact of the adoption of ASU 2016-02 on our consolidated financial statements. Other As Yet Adopted Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses-Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 changes how entities will measure credit losses on most financial assets. The standard will eliminate the probable initial recognition of estimated losses and will provide a forward-looking expected credit loss model for accounts receivables, loans and other financial instruments. Adoption of the standard will be applied using a modified retrospective approach through a cumulative adjustment to retained earnings as of the effective date to align our credit loss methodology with the new standard. ASU 2016-13 is effective for us on January 1, 2020, with early adoption permitted. Under ASU 2016-13 we will be required to use a forward-looking expected credit loss model for accounts receivable, loans and other financial instruments. We do not expect ASU 2016-13 will have a material impact on our consolidated financial statements. |
Changes in Presentation | We have historically classified our significant acquisition costs which represent operating expenditures associated with (1) the acquisition of Recall Holdings Limited ("Recall") that we completed on May 2, 2016 (the "Recall Transaction"), including: (i) advisory and professional fees to complete the Recall Transaction; (ii) costs associated with the Divestments (as defined in Note 13) required in connection with receipt of regulatory approvals (including transitional services); and (iii) costs to integrate Recall with our existing operations, including moving, severance, facility upgrade, REIT integration and system upgrade costs, as well as certain costs associated with our shared service center initiative for our finance, human resources and information technology functions; and (2) the advisory and professional fees to complete the IODC Transaction (as defined in Note 6) (collectively, "Significant Acquisition Costs"), as components of Selling, general and administrative expenses and Cost of sales. Beginning in 2019, we present Significant Acquisition Costs as its own line item within Operating Expenses in our Consolidated Statements of Operations. All prior periods have been conformed to this presentation. See Note 9 for Significant Acquisition Costs by segment. |
Gains on Sale of Real Estate | Gains on Sale of Real Estate |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Property, Plant and Equipment at cost | Property, plant and equipment are stated at cost and depreciated using the straight-line method with the following useful lives (in years): Range Buildings and building improvements 5 to 40 Leasehold improvements 5 to 10 or life of the lease (whichever is shorter) Racking 1 to 20 or life of the lease (whichever is shorter) Warehouse equipment/vehicles 1 to 10 Furniture and fixtures 1 to 10 Computer hardware and software 2 to 5 Property, plant and equipment (including financing leases in the respective category), at cost, consist of the following: December 31, 2019 2018 Land $ 448,566 $ 400,980 Buildings and building improvements 3,029,309 2,991,307 Leasehold improvements 852,022 770,666 Racking 2,040,832 2,001,831 Warehouse equipment/vehicles 483,218 481,515 Furniture and fixtures 54,275 56,207 Computer hardware and software 689,261 680,283 Construction in progress 451,423 218,160 $ 8,048,906 $ 7,600,949 |
Schedule of carrying value of goodwill, net for each of the reporting units | The carrying value of goodwill, net for each of our reporting units described above as of December 31, 2019 is as follows: Carrying Value North America RIM(1) $ 2,715,550 Europe RIM(1) 572,482 Latin America RIM(1) 140,897 ANZ RIM(1) 274,913 Asia RIM(1) 239,059 Global Data Center(2) 424,568 Fine Arts(3) 37,533 Entertainment Services(3) 34,102 Technology Escrow Services(3) 46,105 Total $ 4,485,209 ______________________________________________________________________ (1) This reporting unit is included in our Global RIM (as defined in Note 9) Business segment. (2) This reporting unit comprises our Global Data Center Business segment. (3) This reporting unit is included in our Corporate and Other Business segment. |
Schedule of changes in the carrying value of goodwill attributable to each reportable operating segment | The carrying value of goodwill, net for each of our reporting units described above as of December 31, 2018 is as follows: Carrying Value North American Records and Information Management(1) $ 2,251,795 North American Data Management(2) 493,491 Consumer Storage(3) — Fine Arts(3) 35,526 Entertainment Services(3) 34,233 Western Europe(4) 381,806 NEE and MEI(5) 169,780 Latin America(5) 136,099 ANZ SA(5) 300,204 Asia(5) 212,140 Global Data Center(6) 425,956 Total $ 4,441,030 _______________________________________________________________________________ (1) This reporting unit comprised our former North American Records and Information Management Business segment. (2) This reporting unit comprised our former North American Data Management Business segment. (3) This reporting unit was included in our Corporate and Other Business segment. (4) This reporting unit comprised our former Western European Business segment. (5) This reporting unit was included in our former Other International Business segment. The changes in the carrying value of goodwill attributable to each reportable operating segment for the years ended December 31, 2019 and 2018 is as follows: Global RIM Business Global Data Center Business Corporate and Other Business Total Goodwill balance, net of accumulated amortization, as of December 31, 2017 $ 3,964,114 $ — $ 106,153 $ 4,070,267 Deductible goodwill acquired during the year 3,251 — 6,644 9,895 Non-deductible goodwill acquired during the year 34,230 429,853 3,620 467,703 Goodwill allocated to IMFS Divestment (see Note 13) (1,202 ) — — (1,202 ) Fair value and other adjustments(1) 3,860 — 609 4,469 Currency effects (105,043 ) (3,897 ) (1,162 ) (110,102 ) Goodwill balance, net of accumulated amortization, as of December 31, 2018 3,899,210 425,956 115,864 4,441,030 Deductible goodwill acquired during the year 16,450 — — 16,450 Non-deductible goodwill acquired during the year 11,228 — 1,904 13,132 Fair value and other adjustments(2) 4,439 258 (417 ) 4,280 Currency effects 11,574 (1,646 ) 389 10,317 Goodwill balance, net of accumulated amortization, as of December 31, 2019 $ 3,942,901 $ 424,568 $ 117,740 $ 4,485,209 Accumulated Goodwill Impairment Balance as of December 31, 2018 $ 132,409 $ — $ 3,011 $ 135,420 Accumulated Goodwill Impairment Balance as of December 31, 2019 $ 132,409 $ — $ 3,011 $ 135,420 ___________________________________________________________________ (1) Total fair value and other adjustments primarily include net adjustments of $(2,717) primarily related to property, plant and equipment, customer relationship intangible assets and other liabilities and $7,186 of cash paid related to certain acquisitions completed in 2017. (2) Total fair value and other adjustments primarily include net adjustments of $4,942 primarily related to property, plant and equipment, customer relationship and data center lease-based intangible assets and deferred income taxes and other liabilities offset by $662 of net cash received related to certain acquisitions completed in 2018. |
Components of amortizable intangible assets | The gross carrying amount and accumulated amortization of our finite-lived intangible assets as of December 31, 2019 and 2018 , respectively, are as follows: December 31, 2019 December 31, 2018 Gross Carrying Accumulated Net Carrying Gross Carrying Accumulated Net Carrying Assets: Customer relationship intangible assets $ 1,751,848 $ (544,721 ) $ 1,207,127 $ 1,718,919 $ (455,705 ) $ 1,263,214 Customer inducements 52,718 (29,397 ) 23,321 56,478 (34,181 ) 22,297 Data center lease-based intangible assets(1) 265,945 (103,210 ) 162,735 271,818 (50,807 ) 221,011 Third-party commissions asset(2) 31,708 (4,134 ) 27,574 30,071 (1,089 ) 28,982 $ 2,102,219 $ (681,462 ) $ 1,420,757 $ 2,077,286 $ (541,782 ) $ 1,535,504 Liabilities: Data center below-market leases $ 12,750 $ (3,937 ) $ 8,813 $ 12,318 $ (1,642 ) $ 10,676 _______________________________________________________________________________ (1) Includes Data Center In-Place Leases, Data Center Tenant Relationships and Data Center Above-Market Leases. (2) Third-party commissions asset is included in Other, a component of Other assets, net in the accompanying Consolidated Balance Sheets as of December 31, 2019 and 2018 . See Note 6 for additional information on the third-party commissions asset. December 31, 2019 December 31, 2018 Gross Carrying Accumulated Net Carrying Gross Carrying Accumulated Net Carrying Other finite-lived intangible assets (included in Other, a component of Other assets, net) $ 19,893 $ (18,405 ) $ 1,488 $ 20,310 $ (14,798 ) $ 5,512 |
Schedule of amortization expenses | Amortization expense associated with finite-lived intangible assets, revenue reduction associated with the amortization of Permanent Withdrawal Fees and net revenue reduction associated with the amortization of Data Center Above-Market Leases and Data Center Below-Market Leases for the years ended December 31, 2019 , 2018 and 2017 are as follows: Year Ended December 31, 2019 2018 2017 Amortization expense included in depreciation and amortization associated with: Customer relationship and customer inducement intangible assets $ 117,972 $ 113,782 $ 109,563 Data center in-place leases and tenant relationships 46,696 43,061 — Third-party commissions asset and other finite-lived intangible assets 7,957 5,713 6,530 Revenue reduction associated with amortization of: Permanent withdrawal fees $ 9,993 $ 11,408 $ 11,253 Data center above-market leases and data center below-market leases 3,710 4,873 — |
Estimated amortization expense for existing intangible assets for the next five succeeding fiscal years | Estimated amortization expense for existing finite-lived intangible assets (excluding deferred financing costs, as disclosed in Note 2.j. and Contract Fulfillment Costs, as defined and disclosed in Note 2.l.) is as follows: Estimated Amortization Included in Depreciation Revenue Reduction Associated with the Amortization of Permanent Withdrawal Fees Revenue Reduction (Increase) Associated with Amortization of Data Center Above-market leases and Below-market leases 2020 $ 160,865 $ 7,760 $ 872 2021 157,647 5,207 234 2022 127,148 3,200 273 2023 121,256 2,112 (470 ) 2024 116,253 1,125 (610 ) Thereafter 712,369 1,303 (3,112 ) |
Schedule of amortization of deferred financing costs | Estimated amortization expense for deferred financing costs, which are amortized as a component of interest expense, is as follows: Estimated Amortization of Deferred Financing Costs 2020 $ 17,132 2021 16,002 2022 14,888 2023 11,618 2024 8,424 Thereafter 18,901 |
Components of prepaid expenses | Accrued expenses, with items greater than 5% of total current liabilities are shown separately, and consist of the following: December 31, 2019 2018 Interest $ 97,987 $ 84,283 Incentive compensation 56,662 75,256 Sales tax and VAT payable 115,352 124,232 Dividend 186,021 181,986 Operating lease liabilities 223,249 — Other 282,481 315,024 Accrued expenses $ 961,752 $ 780,781 |
Schedule of amortization expense associated with commissions asset and Intake Costs | The Contract Fulfillment Costs as of December 31, 2019 and 2018 are as follows: December 31, 2019 December 31, 2018 Description Location in Balance Sheet Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intake Costs asset Other (within Other Assets, Net) $ 41,224 $ (23,579 ) $ 17,645 $ 39,748 $ (24,504 ) $ 15,244 Commissions asset Other (within Other Assets, Net) 68,008 (27,178 ) 40,830 58,424 (34,637 ) 23,787 Amortization expense associated with the Intake Costs asset and capitalized commissions asset for the years ended December 31, 2019 and 2018 are as follows: Year Ended December 31, Description 2019 2018 Intake Costs asset $ 10,144 $ 10,380 Capitalized commissions asset 19,109 13,838 |
Contract with customer, future amortization expense | Estimated amortization expense for Contract Fulfillment Costs is as follows: Year Estimated Amortization 2020 $ 28,156 2021 20,448 2022 9,871 |
Schedule of deferred revenue liabilities | Deferred revenue liabilities are reflected as follows in our Consolidated Balance Sheets: December 31, Description Location in Balance Sheet 2019 2018 Deferred revenue - Current Deferred revenue $ 274,036 $ 264,823 Deferred revenue - Long-term Other Long-term Liabilities 36,029 26,401 |
Schedule of future minimum rental payments for operating leases | The future minimum lease payments we expect to receive under non-cancellable data center operating leases, for which we are the lessor, excluding month to month leases, for the next five years are as follows: Year Future minimum lease payments 2020 $ 202,130 2021 135,911 2022 98,797 2023 80,079 2024 68,376 The estimated minimum future lease payments as of December 31, 2019 , are as follows: Year Operating Leases(1) Sublease Income Financing Leases(1) 2020 $ 339,469 $ (7,695 ) $ 62,271 2021 319,628 (5,282 ) 54,993 2022 295,981 (4,996 ) 44,886 2023 267,809 (4,885 ) 39,130 2024 237,604 (3,543 ) 31,849 Thereafter 1,454,918 (7,691 ) 277,890 Total minimum lease payments 2,915,409 $ (34,092 ) 511,019 Less amounts representing interest or imputed interest (963,474 ) (143,837 ) Present value of lease obligations $ 1,951,935 $ 367,182 The estimated minimum future lease payments as of December 31, 2018 are as follows: Year Operating Leases(1) Sublease Income Financing Leases(1)(2) 2019 $ 323,454 $ (7,525 ) $ 80,513 2020 293,276 (7,200 ) 71,335 2021 267,379 (7,063 ) 61,269 2022 246,128 (6,694 ) 52,832 2023 221,808 (6,409 ) 44,722 Thereafter 1,287,807 (6,279 ) 377,750 Total minimum lease payments $ 2,639,852 $ (41,170 ) 688,421 Less amounts representing interest (241,248 ) Present value of lease obligations $ 447,173 _______________________________________________________________________________ (1) Estimated minimum future lease payments exclude variable common area maintenance charges, insurance and taxes. Differences in estimated lease payments between December 31, 2019 and December 31, 2018 are primarily related to adjustments to account for certain build to suit leases that were accounted for as financing obligations under ASC 840 but are accounted for as operating leases under ASU 2016-02 and foreign currency exchange rate impacts. (2) Includes financing lease and financing obligations associated with build to suit lease transactions at December 31, 2018 . |
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 December 31, 2019 and January 1, 2019 (date of adoption of ASU 2016-02) are as follows: Description Location in Balance Sheet December 31, 2019 January 1, 2019 (Date of Adoption of ASU 2016-02) Assets: Operating lease right-of-use assets(1) Operating lease right-of-use assets $ 1,869,101 $ 1,825,721 Financing lease right-of-use assets, net of accumulated depreciation(2) Property, Plant and Equipment, Net 327,215 361,078 Total $ 2,196,316 $ 2,186,799 Liabilities: Current Operating lease liabilities Accrued expenses and other current liabilities $ 223,249 $ 209,911 Financing lease liabilities Current portion of long-term debt 46,582 50,437 Total current lease liabilities 269,831 260,348 Long-term Operating lease liabilities Long-term Operating Lease Liabilities, net of current portion 1,728,686 1,685,771 Financing lease liabilities Long-term Debt, net of current portion 320,600 350,263 Total long-term lease liabilities 2,049,286 2,036,034 Total $ 2,319,117 $ 2,296,382 ______________________________________________________________ (1) At December 31, 2019 , these assets are comprised of approximately 99% real estate related assets (which include land, buildings and racking) and 1% non-real estate related assets (which include warehouse equipment, vehicles, furniture and fixtures and computer hardware and software). (2) At December 31, 2019 , these assets are comprised of approximately 69% real estate related assets and 31% non-real estate related assets. |
Schedule of lease, cost | Supplemental cash flow information relating to our leases for the year ended December 31, 2019 is as follows: Cash paid for amounts included in measurement of lease liabilities: Year Ended December 31, 2019 Operating cash flows used in operating leases $ 338,059 Operating cash flows used in financing leases (interest) 21,031 Financing cash flows used in financing leases 58,033 Non-cash items: Operating lease modifications and reassessments $ 108,023 New operating leases (including acquisitions) 170,464 New financing leases, modifications and reassessments 32,742 Weighted average remaining lease terms and discount rates as of December 31, 2019 are as follows: Remaining Lease Term Operating leases 11.0 Years Financing leases 11.6 Years Discount Rate Operating leases 7.1 % Financing leases 5.7 % The components of the lease expense for the year ended December 31, 2019 are as follows: Description Location in Statement of Operations December 31, 2019 Operating lease cost(1) Cost of sales and Selling, general and administrative $ 459,619 Financing lease cost: Depreciation of financing lease right-of-use assets Depreciation and amortization $ 59,258 Interest expense for financing lease liabilities Interest Expense, Net 21,031 Total financing lease cost $ 80,289 ______________________________________________________________ (1) Of the $459,619 incurred for the year ended December 31, 2019 , $447,194 is included within Cost of sales and $12,425 is included within Selling, general and administrative expenses. Operating lease cost includes variable lease costs of $105,922 for the year ended December 31, 2019 |
Schedule of future minimum lease payments for capital leases | The estimated minimum future lease payments as of December 31, 2019 , are as follows: Year Operating Leases(1) Sublease Income Financing Leases(1) 2020 $ 339,469 $ (7,695 ) $ 62,271 2021 319,628 (5,282 ) 54,993 2022 295,981 (4,996 ) 44,886 2023 267,809 (4,885 ) 39,130 2024 237,604 (3,543 ) 31,849 Thereafter 1,454,918 (7,691 ) 277,890 Total minimum lease payments 2,915,409 $ (34,092 ) 511,019 Less amounts representing interest or imputed interest (963,474 ) (143,837 ) Present value of lease obligations $ 1,951,935 $ 367,182 The estimated minimum future lease payments as of December 31, 2018 are as follows: Year Operating Leases(1) Sublease Income Financing Leases(1)(2) 2019 $ 323,454 $ (7,525 ) $ 80,513 2020 293,276 (7,200 ) 71,335 2021 267,379 (7,063 ) 61,269 2022 246,128 (6,694 ) 52,832 2023 221,808 (6,409 ) 44,722 Thereafter 1,287,807 (6,279 ) 377,750 Total minimum lease payments $ 2,639,852 $ (41,170 ) 688,421 Less amounts representing interest (241,248 ) Present value of lease obligations $ 447,173 _______________________________________________________________________________ (1) Estimated minimum future lease payments exclude variable common area maintenance charges, insurance and taxes. Differences in estimated lease payments between December 31, 2019 and December 31, 2018 are primarily related to adjustments to account for certain build to suit leases that were accounted for as financing obligations under ASC 840 but are accounted for as operating leases under ASU 2016-02 and foreign currency exchange rate impacts. (2) Includes financing lease and financing obligations associated with build to suit lease transactions at December 31, 2018 . |
Schedule of weighted average assumptions | The weighted average assumptions used for grants in the year ended December 31: Weighted Average Assumptions 2019 2018 2017 Expected volatility 24.3 % 25.4 % 25.7 % Risk-free interest rate 2.47 % 2.65 % 1.96 % Expected dividend yield 7 % 7 % 6 % Expected life 5.0 years 5.0 years 5.0 years |
Summary of stock option activity | A summary of our stock options outstanding as of December 31, 2019 by vesting terms is as follows: December 31, 2019 Stock Options Outstanding % of Three-year vesting period (10 year contractual life) 4,691,321 97.0 % Five-year vesting period (10 year contractual life) 144,400 3.0 % 4,835,721 100.0 % A summary of stock option activity for the year ended December 31, 2019 is as follows: Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding at December 31, 2018 4,271,834 $ 34.78 Granted 920,706 35.71 Exercised (303,543 ) 23.86 Forfeited (23,984 ) 35.21 Expired (29,292 ) 34.78 Outstanding at December 31, 2019 4,835,721 $ 35.64 6.72 $ 3,005 Options exercisable at December 31, 2019 3,068,945 $ 35.80 5.81 $ 3,005 Options expected to vest 1,648,127 $ 35.34 8.47 $ — |
Aggregate intrinsic value of stock options exercised | The aggregate intrinsic value of stock options exercised for the years ended December 31, 2019 , 2018 and 2017 is as follows: Year Ended December 31, 2019 2018 2017 Aggregate intrinsic value of stock options exercised $ 3,148 $ 2,181 $ 8,485 |
Summary of restricted stock and RSU activity | Cash dividends accrued and paid on RSUs for the years ended December 31, 2019 , 2018 and 2017 , are as follows: Year Ended December 31, 2019 2018 2017 Cash dividends accrued on RSUs $ 3,215 $ 2,899 $ 2,590 Cash dividends paid on RSUs 2,369 2,477 2,370 The fair value of RSUs vested during the years ended December 31, 2019 , 2018 and 2017 , are as follows: Year Ended December 31, 2019 2018 2017 Fair value of RSUs vested $ 21,191 $ 20,454 $ 19,825 A summary of RSU activity for the year ended December 31, 2019 is as follows: RSUs Weighted- Non-vested at December 31, 2018 1,196,566 $ 34.33 Granted 823,508 34.72 Vested (678,138 ) 34.06 Forfeited (138,337 ) 34.75 Non-vested at December 31, 2019 1,203,599 $ 34.71 |
Schedule of performance units | Cash dividends accrued and paid on PUs for the years ended December 31, 2019 , 2018 and 2017 , are as follows: Year Ended December 31, 2019 2018 2017 Cash dividends accrued on PUs $ 2,260 $ 1,804 $ 1,290 Cash dividends paid on PUs 1,162 644 205 The fair value of earned PUs that vested during the years ended December 31, 2019 , 2018 and 2017 , is as follows: Year Ended December 31, 2019 2018 2017 Fair value of earned PUs that vested $ 6,503 $ 3,117 $ 1,242 |
Summary of performance unit (PU) activity | A summary of PU activity for the year ended December 31, 2019 is as follows: Original PU Adjustment(1) Total Weighted- Non-vested at December 31, 2018 967,049 (299,948 ) 667,101 $ 36.54 Granted 380,856 — 380,856 36.07 Vested (206,279 ) — (206,279 ) 37.97 Forfeited/Performance or Market Conditions Not Achieved (27,935 ) (14,850 ) (42,785 ) 26.50 Non-vested at December 31, 2019 1,113,691 (314,798 ) 798,893 $ 36.56 _______________________________________________________________________________ (1) Represents an increase or decrease in the number of original PUs awarded based on either the final performance criteria or market condition achievement at the end of the performance period of such PUs or a change in estimated awards based on the forecasted performance against the predefined targets. |
Calculation 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 years ended December 31, 2019 , 2018 and 2017 is as follows: Year Ended December 31, 2019 2018 2017 Income (loss) from continuing operations $ 268,211 $ 367,558 $ 178,015 Less: Net income (loss) attributable to noncontrolling interests 938 1,198 1,611 Income (loss) from continuing operations (utilized in numerator of Earnings Per Share calculation) 267,273 366,360 176,404 Income (loss) from discontinued operations, net of tax 104 (12,427 ) (6,291 ) Net income (loss) attributable to Iron Mountain Incorporated $ 267,377 $ 353,933 $ 170,113 Weighted-average shares—basic 286,971,000 285,913,000 265,898,000 Effect of dilutive potential stock options 145,509 234,558 431,071 Effect of dilutive potential RSUs and PUs 570,435 505,030 509,235 Effect of Over-Allotment Option(1) — — 6,278 Weighted-average shares—diluted 287,686,944 286,652,588 266,844,584 Earnings (losses) per share—basic: Income (loss) from continuing operations $ 0.93 $ 1.28 $ 0.66 (Loss) income from discontinued operations, net of tax — (0.04 ) (0.02 ) Net income (loss) attributable to Iron Mountain Incorporated(2) $ 0.93 $ 1.24 $ 0.64 Earnings (losses) per share—diluted: Income (loss) from continuing operations $ 0.93 $ 1.28 $ 0.66 (Loss) income from discontinued operations, net of tax — (0.04 ) (0.02 ) Net income (loss) attributable to Iron Mountain Incorporated(2) $ 0.93 $ 1.23 $ 0.64 Antidilutive stock options, RSUs and PUs, excluded from the calculation 4,475,745 3,258,078 2,326,344 ___________________________________________________________________ (1) See Note 12. (2) Columns may not foot due to rounding. |
Roll forward of allowance for doubtful accounts and credit memo reserves | Rollforward of allowance for doubtful accounts and credit memo reserves is as follows: Year Ended December 31, Balance at Credit Memos Allowance for Deductions and Other(1) Balance at 2019 $ 43,584 $ 51,846 $ 19,389 $ (71,963 ) $ 42,856 2018 46,648 36,329 18,625 (58,018 ) 43,584 2017 44,290 38,966 14,826 (51,434 ) 46,648 _______________________________________________________________________________ (1) Primarily consists of the issuance of credit memos, the write-off of accounts receivable and the impact associated with currency translation adjustments. |
Assets and liabilities carried at fair value measured on a recurring basis | Fair Value Measurements at December 31, 2019 Using Description Total Carrying Quoted prices Significant other Significant Money Market Funds(1) $ 13,653 $ — $ 13,653 $ — Trading Securities 10,732 10,168 (2) 564 (3) — Derivative Liabilities(4) 9,756 — 9,756 — Fair Value Measurements at Description Total Carrying Quoted prices Significant other Significant Time Deposits(1) $ 956 $ — $ 956 $ — Trading Securities 10,753 10,248 (2) 505 (3) — Derivative Assets(4) 93 — 93 — Derivative Liabilities(4) 973 — 973 — _____________________________________________________________ (1) Money market funds and time deposits are measured based on quoted prices for similar assets and/or subsequent transactions. (2) Certain trading securities are measured at fair value using quoted market prices. (3) Certain trading securities are measured based on inputs other than quoted market prices that are observable. (4) Derivative assets and liabilities include (i) interest rate swap agreements, including forward-starting interest rate swap agreements, to limit our exposure to changes in interest rates on a portion of our floating rate indebtedness, (ii) cross-currency swap agreements to hedge the variability of exchange rates impacts between the United States dollar and the Euro and certain of our Euro denominated subsidiaries and (iii) short-term (six months or less) foreign exchange currency forward contracts that we have entered into to hedge certain of our foreign exchange intercompany exposures. Our derivative financial instruments are measured using industry standard valuation models using market-based observable inputs, including interest rate curves, forward and spot prices for currencies and implied volatilities. Credit risk is also factored into the determination of the fair value of our derivative financial instruments. See Note 3 for additional information on our derivative financial instruments. |
Schedule of changes in accumulated other comprehensive items, net | The changes in accumulated other comprehensive items, net for the years ended December 31, 2019 , 2018 and 2017 are as follows: Foreign Currency Change in Fair Value of Derivative Instruments Total Balance as of December 31, 2016 $ (212,573 ) $ — $ (212,573 ) Other comprehensive (loss) income: Foreign currency translation adjustment(1) 108,584 — 108,584 Total other comprehensive (loss) income 108,584 — 108,584 Balance as of December 31, 2017 (103,989 ) — (103,989 ) Other comprehensive (loss) income: Foreign currency translation adjustment (160,702 ) — (160,702 ) Change in fair value of derivative instruments — (973 ) (973 ) Total other comprehensive (loss) income (160,702 ) (973 ) (161,675 ) Balance as of December 31, 2018 (264,691 ) (973 ) (265,664 ) Other comprehensive (loss) income: Foreign currency translation adjustment 11,866 — 11,866 Change in fair value of derivative instruments — (8,783 ) (8,783 ) Total other comprehensive (loss) income 11,866 (8,783 ) 3,083 Balance as of December 31, 2019 $ (252,825 ) $ (9,756 ) $ (262,581 ) ______________________________________________________________ (1) During the year ended December 31, 2017, approximately $29,100 of cumulative translation adjustment associated with our businesses in Russia and Ukraine was reclassified from accumulated other comprehensive items, net and was included in the gain on sale associated with the Russia and Ukraine Divestment (see Note 13). |
Other expense (income), net | Other expense (income), net for the years ended December 31, 2019 , 2018 and 2017 consists of the following: Year Ended December 31, 2019 2018 2017 Foreign currency transaction losses (gains), net(1) $ 24,852 $ (15,567 ) $ 43,248 Debt extinguishment expense, net — — 78,368 Other, net(2) 9,046 3,875 (42,187 ) Other Expense (Income), Net $ 33,898 $ (11,692 ) $ 79,429 _______________________________________________________________________________ (1) The gain or loss on foreign currency transactions, calculated as the difference between the historical exchange rate and the exchange rate at the applicable measurement date, includes gains or losses primarily related to (i) borrowings in certain foreign currencies under our Revolving Credit Facility and our Former Revolving Credit Facility (each as defined in Note 4), (ii) our Euro Notes (as defined in Note 4), (iii) certain foreign currency denominated intercompany obligations of our foreign subsidiaries to us and between our foreign subsidiaries, which are not considered permanently invested and (iv) amounts that are paid or received on the net settlement amount from forward contracts (as more fully discussed in Note 3). (2) Other, net for the year ended December 31, 2017 includes a gain of $38,869 associated with the Russia and Ukraine Divestment (as defined in Note 13). |
Schedule of immaterial restatement | The following table sets forth the effect of the (i) change in presentation of Significant Acquisition Costs and (ii) correction in presentation of gain on sale of real estate to certain line items of our Consolidated Statements of Operations for December 31, 2018 and 2017. The effect of these items did not impact Income (Loss) from Continuing Operations or Net Income (Loss). Year Ended December 31, 2018 2017 Significant Acquisition Costs Gain on Sale of Real Estate Total Significant Acquisition Costs Gain on Sale of Real Estate Total Cost of sales (excluding depreciation and amortization) $ (7,628 ) $ — $ (7,628 ) $ (20,493 ) $ — $ (20,493 ) Selling, general and administrative $ (43,037 ) $ — $ (43,037 ) $ (64,408 ) $ — $ (64,408 ) Significant Acquisition Costs $ 50,665 $ — $ 50,665 $ 84,901 $ — $ 84,901 (Gain) Loss on disposal/write-down of property, plant and equipment, net $ — $ (63,804 ) $ (63,804 ) $ — $ (1,565 ) $ (1,565 ) Total Operating Expenses $ — $ (63,804 ) $ (63,804 ) $ — $ (1,565 ) $ (1,565 ) Operating Income (Loss) $ — $ 63,804 $ 63,804 $ — $ 1,565 $ 1,565 Income (Loss) from Continuing Operations Before Provision (Benefit) for Income Taxes $ — $ 63,804 $ 63,804 $ — $ 1,565 $ 1,565 Provision (Benefit) for Income Taxes $ — $ 8,476 $ 8,476 $ — $ — $ — Gain on Sale of Real Estate, Net of tax $ — $ 55,328 $ 55,328 $ — $ 1,565 $ 1,565 Year Ended December 31, 2018 2017 Selling, general and administrative $ 11,045 $ 16,623 Total Operating Expenses $ 11,045 $ 16,623 Operating Income (Loss) $ (11,045 ) $ (16,623 ) Interest Expense, Net $ 359 $ 70 Income (Loss) from Continuing Operations Before Provision (Benefit) for Income Taxes $ (11,404 ) $ (16,693 ) Provision (Benefit) for Income Taxes $ (1,986 ) $ (2,985 ) Income (Loss) from Continuing Operations $ (9,418 ) $ (13,708 ) Net Income (Loss) $ (9,418 ) $ (13,708 ) Net Income (Loss) Attributable to Iron Mountain Incorporated $ (9,418 ) $ (13,708 ) Earnings (Losses) per Share - Basic: Income (Loss) from Continuing Operations $ (0.03 ) $ (0.05 ) Net Income (Loss) Attributable to Iron Mountain Incorporated $ (0.03 ) $ (0.05 ) Earnings (Losses) per Share - Diluted: Income (Loss) from Continuing Operations $ (0.03 ) $ (0.05 ) Net Income (Loss) Attributable to Iron Mountain Incorporated $ (0.03 ) $ (0.05 ) The following table sets forth the effect of the immaterial restatement to certain line items of our Consolidated Balance Sheet as of December 31, 2018: December 31, 2018 Total Other Assets, Net $ 4,971 Total Assets $ 4,971 Accrued expenses and other current liabilities $ 28,097 Total Current Liabilities $ 28,097 (Distribution in excess of earnings) Earnings in excess of distributions $ (23,126 ) Total Iron Mountain Incorporated Stockholders' Equity $ (23,126 ) |
Derivative Instruments and He_2
Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss) | As a result, we recorded the following foreign exchange gains (losses) related to the change in fair value of such debt due to the currency translation adjustments, which is a component of Accumulated other comprehensive items, net: Year Ended December 31, 2019 2018 2017 Foreign exchange gains (losses) $ 6,003 $ 11,070 $ (15,015 ) |
Schedule of Net Cash (Receipts) Payments Included in Cash From Operacting Activities Related to Settlements | Net cash payments (receipts) included in cash from operating activities related to settlements associated with foreign currency forward contracts for the years ended December 31, 2019 , 2018 and 2017 , are as follows: Year Ended December 31, 2019 2018 2017 Net payments (receipts) $ 737 $ 5,797 $ (9,073 ) |
Schedule of (Gains) Losses For Derivative Instruments | Losses (gains) for our derivative instruments for the years ended December 31, 2019 , 2018 and 2017 are as follows: Amount of Loss (Gain) Recognized in Income on Derivatives December 31, Derivatives Not Designated as Hedging Instruments Location of Loss (Gain) Recognized in Income on Derivative 2019 2018 2017 Foreign exchange contracts Other expense (income), net $ 737 $ 4,954 $ (8,292 ) |
Debt (Tables)
Debt (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |
Schedule of Carrying Amount and Fair Value of Long-term Debt Instruments | Long-term debt is as follows: December 31, 2019 December 31, 2018 Debt (inclusive of discount) Unamortized Deferred Financing Costs Carrying Amount Fair Debt (inclusive of discount) Unamortized Deferred Financing Costs Carrying Amount Fair Revolving Credit Facility(1) $ 348,808 $ (12,053 ) $ 336,755 $ 348,808 $ 793,832 $ (14,117 ) $ 779,715 $ 793,832 Term Loan A(1) 228,125 — 228,125 228,125 240,625 — 240,625 240,625 Term Loan B(1)(2) 686,395 (7,493 ) 678,902 686,890 693,169 (8,742 ) 684,427 660,013 Australian Dollar Term Loan (the "AUD Term Loan")(3)(4) 226,924 (2,313 ) 224,611 228,156 233,955 (3,084 ) 230,871 235,645 UK Bilateral Revolving Credit Facility (the "UK Bilateral Facility")(4) 184,601 (1,801 ) 182,800 184,601 178,299 (2,357 ) 175,942 178,299 4 3 / 8 % Senior Notes due 2021 (the "4 3 / 8 % Notes")(5)(6)(7) 500,000 (2,436 ) 497,564 503,450 500,000 (4,155 ) 495,845 488,750 6% Senior Notes due 2023 (the "6% Notes due 2023")(5)(6) 600,000 (4,027 ) 595,973 613,500 600,000 (5,126 ) 594,874 606,000 5 3 / 8 % CAD Senior Notes due 2023 (the "CAD Notes due 2023")(5)(7)(8) 192,058 (2,071 ) 189,987 199,380 183,403 (2,506 ) 180,897 186,154 5 3 / 4 % Senior Subordinated Notes due 2024 (the "5 3 / 4 % Notes")(5)(6) 1,000,000 (6,409 ) 993,591 1,010,625 1,000,000 (7,782 ) 992,218 940,000 3% Euro Senior Notes due 2025 (the "Euro Notes")(5)(6)(7) 336,468 (3,462 ) 333,006 345,660 343,347 (4,098 ) 339,249 321,029 3 7 / 8 % GBP Senior Notes due 2025 (the "GBP Notes due 2025")(5)(7)(9) 527,432 (5,809 ) 521,623 539,892 509,425 (6,573 ) 502,852 453,811 5 3 / 8 % Senior Notes due 2026 (the "5 3 / 8 % Notes")(5)(7)(10) 250,000 (2,756 ) 247,244 261,641 250,000 (3,185 ) 246,815 224,375 4 7 / 8 % Senior Notes due 2027 (the "4 7 / 8 % Notes due 2027")(5)(6)(7) 1,000,000 (11,020 ) 988,980 1,029,475 1,000,000 (12,442 ) 987,558 855,000 5 1 / 4 % Senior Notes due 2028 (the "5 1 / 4 % Notes")(5)(6)(7) 825,000 (9,742 ) 815,258 859,598 825,000 (10,923 ) 814,077 713,625 4 7 / 8 % Senior Notes due 2029 (the "4 7 / 8 % Notes due 2029")(5)(6)(7) 1,000,000 (14,104 ) 985,896 1,015,640 — — — — Real Estate Mortgages, Financing Lease Liabilities and Other(11) 523,671 (406 ) 523,265 523,671 606,702 (171 ) 606,531 606,702 Accounts Receivable Securitization Program(12) 272,062 (81 ) 271,981 272,062 221,673 (218 ) 221,455 221,673 Mortgage Securitization Program(13) 50,000 (982 ) 49,018 50,000 50,000 (1,128 ) 48,872 50,000 Total Long-term Debt 8,751,544 (86,965 ) 8,664,579 8,229,430 (86,607 ) 8,142,823 Less Current Portion (389,013 ) — (389,013 ) (126,406 ) — (126,406 ) Long-term Debt, Net of Current Portion $ 8,362,531 $ (86,965 ) $ 8,275,566 $ 8,103,024 $ (86,607 ) $ 8,016,417 ______________________________________________________________ (1) The capital stock or other equity interests of most of our United States subsidiaries, and up to 66% of the capital stock or other equity interests of most of our first-tier foreign subsidiaries, are pledged to secure these debt instruments, together with all intercompany obligations (including promissory notes) of subsidiaries owed to us or to one of our United States subsidiary guarantors. In addition, Iron Mountain Canada Operations ULC ("Canada Company") has pledged 66% of the capital stock of its subsidiaries, and all intercompany obligations (including promissory notes) owed to or held by it, to secure the Canadian dollar subfacility under the Revolving Credit Facility. The fair value (Level 3 of fair value hierarchy described at Note 2.s.) of these debt instruments approximates the carrying value (as borrowings under these debt instruments are based on current variable market interest rates (plus a margin that is subject to change based on our consolidated leverage ratio), as of December 31, 2019 and 2018 . (2) The amount of debt for the Term Loan B (as defined below) reflects an unamortized original issue discount of $1,355 and $1,581 as of December 31, 2019 and 2018 , respectively. (3) The amount of debt for the AUD Term Loan reflects an unamortized original issue discount of $ 1,232 and $1,690 as of December 31, 2019 and 2018 , respectively. (4) The fair value (Level 3 of fair value hierarchy described at Note 2.s.) of this debt instrument approximates the carrying value as borrowings under this debt instrument are based on a current variable market interest rate. (5) The fair values (Level 1 of fair value hierarchy described at Note 2.s.) of these debt instruments are based on quoted market prices for these notes on December 31, 2019 and 2018 , respectively. (6) Collectively, the "Parent Notes". IMI is the direct obligor on the Parent Notes, which are fully and unconditionally guaranteed, on a senior or senior subordinated basis, as the case may be, by IMI's direct and indirect 100% owned United States subsidiaries that represent the substantial majority of our United States operations (the "Guarantors"). These guarantees are joint and several obligations of the Guarantors. The remainder of our subsidiaries do not guarantee the Parent Notes. See Note 5. (7) The 4 3 / 8 % Notes, the CAD Notes due 2023, the Euro Notes, the GBP Notes due 2025, the 5 3 / 8 % Notes, the 4 7 / 8 % Notes due 2027, the 5 1 / 4 % Notes and the 4 7 / 8 % Notes due 2029 (collectively, the "Unregistered Notes") have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or under the securities laws of any other jurisdiction. Unless they are registered, the Unregistered Notes may be offered only in transactions that are exempt from registration under the Securities Act or the securities laws of any other jurisdiction. (8) Canada Company is the direct obligor on the CAD Notes due 2023, which are fully and unconditionally guaranteed, on a senior basis, by IMI and the Guarantors. These guarantees are joint and several obligations of IMI and the Guarantors. See Note 5. (9) Iron Mountain (UK) PLC ("IM UK") is the direct obligor on the GBP Notes due 2025, which are fully and unconditionally guaranteed, on a senior basis, by IMI and the Guarantors. These guarantees are joint and several obligations of IMI and the Guarantors. See Note 5. (10) Iron Mountain US Holdings, Inc. ("IM US Holdings"), one of the Guarantors, is the direct obligor on the 5 3 / 8 % Notes, which are fully and unconditionally guaranteed, on a senior basis, by IMI and the other Guarantors. These guarantees are joint and several obligations of IMI and such Guarantors. See Note 5. (11) Includes (i) real estate mortgages of $27,036 and $18,576 as of December 31, 2019 and 2018 , respectively, which bear interest at approximately 3.9% as of December 31, 2019 and 4.1% as of December 31, 2018 and are payable in various installments through 2024, (ii) financing lease liabilities of $367,182 and $447,173 as of December 31, 2019 and 2018 , respectively, which bear a weighted average interest rate of 5.7% at December 31, 2019 and 2018 and (iii) other notes and other obligations, which were assumed by us as a result of certain acquisitions, of $129,453 and $140,953 as of December 31, 2019 and 2018 , respectively, and bear a weighted average interest rate of 10.8% at December 31, 2019 and 11.1% at December 31, 2018 , respectively. We believe the fair value (Level 3 of fair value hierarchy described at Note 2.s.) of this debt approximates its carrying value. (12) The Accounts Receivable Securitization Special Purpose Subsidiaries are the obligors under this program. We believe the fair value (Level 3 of fair value hierarchy described at Note 2.s.) of this debt approximates its carrying value. (13) The Mortgage Securitization Special Purpose Subsidiary is the obligor under this program. We believe the fair value (Level 3 of fair value hierarchy described at Note 2.s.) of this debt approximates its carrying value. |
Schedule of Redemption Dates and Prices of the Senior or Senior Subordinated Notes | The following table presents the various redemption dates and prices of the senior or senior subordinated notes. The redemption dates reflect the date at or after which the notes may be redeemed at our option at a premium redemption price. After these dates, the notes may be redeemed at 100% of face value: Redemption Date 4 3 / 8 % Notes June 1, 6% Notes CAD Notes 5 3 / 4 % Notes Euro Notes GBP Notes 5 3 / 8 % Notes June 1, 4 7 / 8 % Notes due 2027 5 1 / 4 % Notes 4 7 / 8 % Notes due 2029 2019 101.094 % (1) 102.000 % (1) 104.031 % (1) 100.958 % (1) — — — — — — 2020 100.000 % 101.000 % 102.688 % 100.000 % 101.500 % (1) 101.938 % (1) — — — — 2021 100.000 % 100.000 % 101.344 % 100.000 % 100.750 % 100.969 % 102.688 % (1) — — — 2022 — 100.000 % 100.000 % 100.000 % 100.000 % 100.000 % 101.792 % 102.438 % (1) 102.625 % (1) — 2023 — 100.000 % 100.000 % 100.000 % 100.000 % 100.000 % 100.896 % 101.625 % 101.750 % — 2024 — — — 100.000 % 100.000 % 100.000 % 100.000 % 100.813 % 100.875 % 102.438 % (1) 2025 — — — — 100.000 % 100.000 % 100.000 % 100.000 % 100.000 % 101.609 % 2026 — — — — — — 100.000 % 100.000 % 100.000 % 100.814 % 2027 — — — — — — — 100.000 % 100.000 % 100.000 % 2028 — — — — — — — — 100.000 % 100.000 % 2029 — — — — — — — — — 100.000 % _______________________________________________________________________________ (1) Prior to this date, the relevant notes are redeemable, at our option, in whole or in part, at a specified redemption price or make-whole price, as the case may be. |
Schedule of Net Cash Position in Cash Pool Agreements | The approximate amount of the net cash position, gross position and outstanding debit balances for the QRS Cash Pool and TRS Cash Pool as of December 31, 2019 and 2018 were as follows: December 31, 2019 December 31, 2018 Gross Cash Position Outstanding Debit Balances Net Cash Position Gross Cash Position Outstanding Debit Balances Net Cash Position QRS Cash Pool $ 372,100 $ (369,000 ) $ 3,100 $ 300,800 $ (298,800 ) $ 2,000 TRS Cash Pool 319,800 (301,300 ) 18,500 281,500 (279,300 ) 2,200 |
Schedule of Leverage and Fixed Charge Ratios | Our leverage and fixed charge coverage ratios under the Credit Agreement as of December 31, 2019 and 2018 , as well as our leverage ratio under our indentures as of December 31, 2019 and 2018 are as follows: December 31, 2019 December 31, 2018 Maximum/Minimum Allowable Net total lease adjusted leverage ratio 5.7 5.6 Maximum allowable of 6.5 Net secured debt lease adjusted leverage ratio 2.3 2.6 Maximum allowable of 4.0 Bond leverage ratio (not lease adjusted) 5.9 5.8 Maximum allowable of 6.5-7.0(1) Fixed charge coverage ratio 2.2 2.2 Minimum allowable of 1.5 ______________________________________________________________ (1) The maximum allowable leverage ratio under our indentures for the GBP Notes due 2025, the 4 7 / 8 % Notes due 2027, the 5 1 / 4 % Notes and the 4 7 / 8 % Notes due 2029 is 7.0 , while the maximum allowable leverage ratio under the indentures pertaining to our remaining senior and senior subordinated notes is 6.5 . In certain instances as provided in our indentures, we have the ability to incur additional indebtedness that would result in our bond leverage ratio exceeding the maximum allowable ratio under our indentures and still remain in compliance with the covenant. |
Schedule of Maturities of Long-term Debt | Maturities of long-term debt (gross of discounts) are as follows: Year Amount 2020 $ 389,013 2021 608,584 2022 487,601 2023 1,384,684 2024 1,036,688 Thereafter 4,847,561 8,754,131 Net Discounts (2,587 ) Net Deferred Financing Costs (86,965 ) Total Long-term Debt (including current portion) $ 8,664,579 |
Selected Consolidated Financi_2
Selected Consolidated Financial Statements of Parent, Guarantors, and Non-Guarantors (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Selected Consolidated Financial Statements of Parent, Guarantors, Canada Company and Non-Guarantors | |
Schedule of Selected Consolidated Balance Sheets of Parent, Guarantors and Non-Guarantors | CONSOLIDATED BALANCE SHEETS December 31, 2019 Parent Guarantors Non- Guarantors Eliminations Consolidated ASSETS Current Assets: Cash and cash equivalents(1) $ 105 $ 206,297 $ 163,858 $ (176,705 ) $ 193,555 Accounts receivable — 45,608 805,093 — 850,701 Intercompany receivable — 658,580 — (658,580 ) — Prepaid expenses and other — 104,164 87,948 (29 ) 192,083 Total Current Assets 105 1,014,649 1,056,899 (835,314 ) 1,236,339 Property, Plant and Equipment, Net 597 3,051,426 1,571,014 — 4,623,037 Other Assets, Net: Long-term notes receivable from affiliates and intercompany receivable 5,347,774 — — (5,347,774 ) — Investment in subsidiaries 1,966,978 1,063,178 — (3,030,156 ) — Goodwill — 2,855,424 1,629,785 — 4,485,209 Operating lease right-of-use assets — 986,362 882,739 — 1,869,101 Other — 911,803 691,327 — 1,603,130 Total Other Assets, Net 7,314,752 5,816,767 3,203,851 (8,377,930 ) 7,957,440 Total Assets $ 7,315,454 $ 9,882,842 $ 5,831,764 $ (9,213,244 ) $ 13,816,816 LIABILITIES AND EQUITY Intercompany Payable $ 338,794 $ — $ 319,786 $ (658,580 ) $ — Debit Balances Under Cash Pool — — 176,705 (176,705 ) — Current Portion of Long-term Debt — 51,868 337,174 (29 ) 389,013 Total Other Current Liabilities (includes current portion of operating lease liabilities) 292,673 704,109 563,714 — 1,560,496 Long-term Debt, Net of Current Portion 5,210,269 1,482,571 1,582,726 — 8,275,566 Long-Term Operating Lease Liabilities, Net of Current Portion — 915,840 812,846 — 1,728,686 Long-term Notes Payable to Affiliates and Intercompany Payable — 5,347,774 — (5,347,774 ) — Other Long-term Liabilities 9,756 62,525 258,865 — 331,146 Commitments and Contingencies (see Note 10) Redeemable Noncontrolling Interests (see Note 2.v.) — — 67,682 — 67,682 Total Iron Mountain Incorporated Stockholders' Equity 1,463,962 1,318,155 1,712,001 (3,030,156 ) 1,463,962 Noncontrolling Interests — — 265 — 265 Total Equity 1,463,962 1,318,155 1,712,266 (3,030,156 ) 1,464,227 Total Liabilities and Equity $ 7,315,454 $ 9,882,842 $ 5,831,764 $ (9,213,244 ) $ 13,816,816 ______________________________________________________________ (1) Included within Cash and Cash Equivalents at December 31, 2019 is approximately $198,300 and $0 of cash on deposit associated with our Cash Pools for the Guarantors and Non-Guarantors, respectively. See Note 4 for more information on our Cash Pools. CONSOLIDATED BALANCE SHEETS (Continued) December 31, 2018 Parent Guarantors Non- Guarantors Eliminations Consolidated ASSETS Current Assets: Cash and cash equivalents(1) $ 132 $ 63,407 $ 169,318 $ (67,372 ) $ 165,485 Accounts receivable — 47,472 799,417 — 846,889 Intercompany receivable — 821,324 — (821,324 ) — Prepaid expenses and other 93 109,480 86,196 (29 ) 195,740 Total Current Assets 225 1,041,683 1,054,931 (888,725 ) 1,208,114 Property, Plant and Equipment, Net 190 3,010,767 1,478,600 — 4,489,557 Other Assets, Net: Long-term notes receivable from affiliates and intercompany receivable 4,954,686 — — (4,954,686 ) — Investment in subsidiaries 1,862,048 983,018 — (2,845,066 ) — Goodwill — 2,861,381 1,579,649 — 4,441,030 Other — 982,932 735,585 — 1,718,517 Total Other Assets, Net 6,816,734 4,827,331 2,315,234 (7,799,752 ) 6,159,547 Total Assets $ 6,817,149 $ 8,879,781 $ 4,848,765 $ (8,688,477 ) $ 11,857,218 LIABILITIES AND EQUITY Intercompany Payable $ 462,927 $ — $ 358,397 $ (821,324 ) $ — Debit Balances Under Cash Pools — 10,612 56,760 (67,372 ) — Current Portion of Long-term Debt — 63,859 62,576 (29 ) 126,406 Total Other Current Liabilities 268,373 618,513 477,483 — 1,364,369 Long-term Debt, Net of Current Portion 4,223,822 1,878,079 1,914,516 — 8,016,417 Long-term Notes Payable to Affiliates and Intercompany Payable — 4,954,686 — (4,954,686 ) — Other Long-term Liabilities 973 116,895 299,163 — 417,031 Commitments and Contingencies (see Note 10) Redeemable Noncontrolling Interests (see Note 2.v.) — — 70,532 — 70,532 Total Iron Mountain Incorporated Stockholders' Equity 1,861,054 1,237,137 1,607,929 (2,845,066 ) 1,861,054 Noncontrolling Interests — — 1,409 — 1,409 Total Equity 1,861,054 1,237,137 1,609,338 (2,845,066 ) 1,862,463 Total Liabilities and Equity $ 6,817,149 $ 8,879,781 $ 4,848,765 $ (8,688,477 ) $ 11,857,218 ______________________________________________________________ (1) Included within Cash and Cash Equivalents at December 31, 2018 is approximately $58,900 and $12,700 |
Schedule of Selected Consolidated Statements of Operations of Parent, Guarantors and Non-Guarantors | CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) Year Ended December 31, 2019 Parent Guarantors Non- Guarantors Eliminations Consolidated Revenues: Storage rental $ — $ 1,654,359 $ 1,026,728 $ — $ 2,681,087 Service — 978,227 603,270 — 1,581,497 Intercompany revenues — 4,668 20,233 (24,901 ) — Total Revenues — 2,637,254 1,650,231 (24,901 ) 4,262,584 Operating Expenses: Cost of sales (excluding depreciation and amortization) — 1,048,514 784,801 — 1,833,315 Intercompany cost of sales — 20,233 4,668 (24,901 ) — Selling, general and administrative 444 679,964 311,256 — 991,664 Depreciation and amortization 91 410,524 247,586 — 658,201 Significant Acquisition Costs — 7,055 6,238 — 13,293 Restructuring Charges — 32,218 16,379 — 48,597 (Gain) Loss on disposal/write-down of property, plant and equipment, net — (26,472 ) (37,352 ) — (63,824 ) Total Operating Expenses 535 2,172,036 1,333,576 (24,901 ) 3,481,246 Operating (Loss) Income (535 ) 465,218 316,655 — 781,338 Interest Expense (Income), Net 213,149 18,923 187,226 — 419,298 Other Expense (Income), Net 59 19,271 14,568 — 33,898 (Loss) Income from Continuing Operations Before Provision (Benefit) for Income Taxes (213,743 ) 427,024 114,861 — 328,142 Provision (Benefit) for Income Taxes — 6,698 53,233 — 59,931 Equity in the (Earnings) Losses of Subsidiaries, Net of Tax (481,120 ) (64,490 ) — 545,610 — Income (Loss) from Continuing Operations 267,377 484,816 61,628 (545,610 ) 268,211 Income (Loss) from Discontinued Operations, Net of Tax — 120 (16 ) — 104 Net Income (Loss) 267,377 484,936 61,612 (545,610 ) 268,315 Less: Net Income (Loss) Attributable to Noncontrolling Interests — — 938 — 938 Net Income (Loss) Attributable to Iron Mountain Incorporated $ 267,377 $ 484,936 $ 60,674 $ (545,610 ) $ 267,377 Net Income (Loss) $ 267,377 $ 484,936 $ 61,612 $ (545,610 ) $ 268,315 Other Comprehensive Income (Loss): Foreign Currency Translation Adjustment 6,003 — 5,991 — 11,994 Change in Fair Value of Derivative Instruments (8,783 ) — — — (8,783 ) Equity in Other Comprehensive (Loss) Income of Subsidiaries 5,863 5,714 — (11,577 ) — Total Other Comprehensive Income (Loss) 3,083 5,714 5,991 (11,577 ) 3,211 Comprehensive Income (Loss) 270,460 490,650 67,603 (557,187 ) 271,526 Comprehensive Income (Loss) Attributable to Noncontrolling Interests — — 1,066 — 1,066 Comprehensive Income (Loss) Attributable to Iron Mountain Incorporated $ 270,460 $ 490,650 $ 66,537 $ (557,187 ) $ 270,460 CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Continued) Year Ended December 31, 2018 Parent Guarantors Non- Guarantors Eliminations Consolidated Revenues: Storage rental $ — $ 1,606,346 $ 1,016,109 $ — $ 2,622,455 Service — 974,213 629,093 — 1,603,306 Intercompany revenues — 4,759 18,439 (23,198 ) — Total Revenues — 2,585,318 1,663,641 (23,198 ) 4,225,761 Operating Expenses: Cost of sales (excluding depreciation and amortization) — 1,009,890 784,064 — 1,793,954 Intercompany cost of sales — 18,439 4,759 (23,198 ) — Selling, general and administrative (288 ) 679,740 327,531 — 1,006,983 Depreciation and amortization 122 404,574 234,818 — 639,514 Significant Acquisition Costs — 35,607 15,058 — 50,665 (Gain) Loss on disposal/write-down of property, plant and equipment, net — (2,841 ) (70,781 ) — (73,622 ) Total Operating Expenses (166 ) 2,145,409 1,295,449 (23,198 ) 3,417,494 Operating Income (Loss) 166 439,909 368,192 — 808,267 Interest Expense (Income), Net 199,955 6,392 203,301 — 409,648 Other Expense (Income), Net 2,328 17,158 (31,178 ) — (11,692 ) (Loss) Income from Continuing Operations Before (Benefit) Provision for Income Taxes (202,117 ) 416,359 196,069 — 410,311 (Benefit) Provision for Income Taxes — (1,006 ) 43,759 — 42,753 Equity in the (Earnings) Losses of Subsidiaries, Net of Tax (556,050 ) (147,575 ) — 703,625 — Income (Loss) from Continuing Operations 353,933 564,940 152,310 (703,625 ) 367,558 (Loss) Income from Discontinued Operations, Net of Tax — (12,283 ) (144 ) — (12,427 ) Net Income (Loss) 353,933 552,657 152,166 (703,625 ) 355,131 Less: Net Income (Loss) Attributable to Noncontrolling Interests — — 1,198 — 1,198 Net Income (Loss) Attributable to Iron Mountain Incorporated $ 353,933 $ 552,657 $ 150,968 $ (703,625 ) $ 353,933 Net Income (Loss) $ 353,933 $ 552,657 $ 152,166 $ (703,625 ) $ 355,131 Other Comprehensive (Loss) Income: Foreign Currency Translation Adjustment 11,070 — (175,177 ) — (164,107 ) Change in Fair Value of Derivative Instrument (973 ) — — — (973 ) Equity in Other Comprehensive (Loss) Income of Subsidiaries (171,772 ) (139,971 ) — 311,743 — Total Other Comprehensive (Loss) Income (161,675 ) (139,971 ) (175,177 ) 311,743 (165,080 ) Comprehensive Income (Loss) 192,258 412,686 (23,011 ) (391,882 ) 190,051 Comprehensive (Loss) Income Attributable to Noncontrolling Interests — — (2,207 ) — (2,207 ) Comprehensive Income (Loss) Attributable to Iron Mountain Incorporated $ 192,258 $ 412,686 $ (20,804 ) $ (391,882 ) $ 192,258 CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Continued) Year Ended December 31, 2017 Parent Guarantors Non- Guarantors Eliminations Consolidated Revenues: Storage rental $ — $ 1,443,219 $ 934,338 $ — $ 2,377,557 Service — 866,318 601,703 — 1,468,021 Intercompany revenues — 4,577 24,613 (29,190 ) — Total Revenues — 2,314,114 1,560,654 (29,190 ) 3,845,578 Operating Expenses: Cost of sales (excluding depreciation and amortization) — 922,008 742,817 — 1,664,825 Intercompany cost of sales — 24,613 4,577 (29,190 ) — Selling, general and administrative 161 613,350 323,669 — 937,180 Depreciation and amortization 167 310,962 211,247 — 522,376 Significant Acquisition Costs — 52,621 32,280 — 84,901 Intangible impairments — 3,011 — — 3,011 (Gain) Loss on disposal/write-down of property, plant and equipment, net — (1,001 ) 235 — (766 ) Total Operating Expenses 328 1,925,564 1,314,825 (29,190 ) 3,211,527 Operating (Loss) Income (328 ) 388,550 245,829 — 634,051 Interest Expense (Income), Net 163,541 7,606 182,498 — 353,645 Other Expense (Income), Net 47,176 9,178 23,075 — 79,429 (Loss) Income from Continuing Operations Before Provision (Benefit) for Income Taxes (211,045 ) 371,766 40,256 — 200,977 Provision (Benefit) for Income Taxes — 3,988 18,974 — 22,962 Equity in the (Earnings) Losses of Subsidiaries, Net of Tax (381,158 ) (11,677 ) — 392,835 — Income (Loss) from Continuing Operations 170,113 379,455 21,282 (392,835 ) 178,015 (Loss) Income from Discontinued Operations, Net of Tax — (4,370 ) (1,921 ) — (6,291 ) Net Income (Loss) 170,113 375,085 19,361 (392,835 ) 171,724 Less: Net Income (Loss) Attributable to Noncontrolling Interests — — 1,611 — 1,611 Net Income (Loss) Attributable to Iron Mountain Incorporated $ 170,113 $ 375,085 $ 17,750 $ (392,835 ) $ 170,113 Net Income (Loss) $ 170,113 $ 375,085 $ 19,361 $ (392,835 ) $ 171,724 Other Comprehensive Income (Loss): Foreign Currency Translation Adjustment (15,015 ) — 123,579 — 108,564 Equity in Other Comprehensive Income (Loss) of Subsidiaries 123,599 82,127 — (205,726 ) — Total Other Comprehensive Income (Loss) 108,584 82,127 123,579 (205,726 ) 108,564 Comprehensive Income (Loss) 278,697 457,212 142,940 (598,561 ) 280,288 Comprehensive Income (Loss) Attributable to Noncontrolling Interests — — 1,591 — 1,591 Comprehensive Income (Loss) Attributable to Iron Mountain Incorporated $ 278,697 $ 457,212 $ 141,349 $ (598,561 ) $ 278,697 |
Schedule of Selected Consolidated Statements of Cash Flows of Parent, Guarantors and Non-Guarantors | CONSOLIDATED STATEMENTS OF CASH FLOWS Year Ended December 31, 2019 Parent Guarantors Non- Guarantors Eliminations Consolidated Cash Flows from Operating Activities: Cash Flows from Operating Activities-Continuing Operations $ (157,162 ) $ 850,840 $ 272,977 $ — $ 966,655 Cash Flows from Operating Activities-Discontinued Operations — — — — — Cash Flows from Operating Activities (157,162 ) 850,840 272,977 — 966,655 Cash Flows from Investing Activities: Capital expenditures — (412,725 ) (280,258 ) — (692,983 ) Cash paid for acquisitions, net of cash acquired — (9,508 ) (48,729 ) — (58,237 ) Intercompany loans to subsidiaries (124,897 ) 4,637 — 120,260 — Acquisitions of customer relationships, customer inducements and data center lease-based intangibles — (99,610 ) (32,037 ) — (131,647 ) Investment in joint ventures — (19,222 ) — — (19,222 ) Net proceeds from Divestments — — — — — Proceeds from sales of property and equipment and other, net (including real estate) and proceeds from involuntary conversion of property and equipment — 115,775 50,368 — 166,143 Cash Flows from Investing Activities-Continuing Operations (124,897 ) (420,653 ) (310,656 ) 120,260 (735,946 ) Cash Flows from Investing Activities-Discontinued Operations — 2,564 2,497 — 5,061 Cash Flows from Investing Activities (124,897 ) (418,089 ) (308,159 ) 120,260 (730,885 ) Cash Flows from Financing Activities: Repayment of revolving credit and term loan facilities and other debt — (10,479,101 ) (4,056,014 ) — (14,535,115 ) Proceeds from revolving credit and term loan facilities and other debt — 10,057,145 4,002,673 — 14,059,818 Net proceeds from sales of senior notes 987,500 — — — 987,500 Debit (payments) balances under cash pools — (10,612 ) 119,945 (109,333 ) — Debt (repayment to) financing from and equity (distribution to) contribution from noncontrolling interests, net — — (1,924 ) — (1,924 ) Intercompany loans from parent — 143,767 (23,507 ) (120,260 ) — Parent cash dividends (704,526 ) — — — (704,526 ) Net proceeds (payments) associated with employee stock-based awards 1,027 — — — 1,027 Payment of debt financing and stock issuance costs and other (1,969 ) (1,060 ) (2,724 ) — (5,753 ) Cash Flows from Financing Activities-Continuing Operations 282,032 (289,861 ) 38,449 (229,593 ) (198,973 ) Cash Flows from Financing Activities-Discontinued Operations — — — — — Cash Flows from Financing Activities 282,032 (289,861 ) 38,449 (229,593 ) (198,973 ) Effect of exchange rates on cash and cash equivalents — — (8,727 ) — (8,727 ) Increase (Decrease) in cash and cash equivalents (27 ) 142,890 (5,460 ) (109,333 ) 28,070 Cash and cash equivalents, including Restricted Cash, beginning of year 132 63,407 169,318 (67,372 ) 165,485 Cash and cash equivalents, including Restricted Cash, end of year $ 105 $ 206,297 $ 163,858 $ (176,705 ) $ 193,555 CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued) Year Ended December 31, 2018 Parent Guarantors Non- Eliminations Consolidated Cash Flows from Operating Activities: Cash Flows from Operating Activities-Continuing Operations $ (217,819 ) $ 880,615 $ 273,748 $ — $ 936,544 Cash Flows from Operating Activities-Discontinued Operations — (995 ) — — (995 ) Cash Flows from Operating Activities (217,819 ) 879,620 273,748 — 935,549 Cash Flows from Investing Activities: Capital expenditures — (313,510 ) (146,552 ) — (460,062 ) Cash paid for acquisitions, net of cash acquired — (1,338,888 ) (419,669 ) — (1,758,557 ) Intercompany loans to subsidiaries 805,799 90,569 — (896,368 ) — Acquisitions of customer relationships, customer inducements and data center lease-based intangibles — (76,388 ) (22,299 ) — (98,687 ) Net proceeds from Divestments — 1,019 — — 1,019 Proceeds from sales of property and equipment and other, net (including real estate) and proceeds from involuntary conversion of property and equipment — 299 85,860 — 86,159 Cash Flows from Investing Activities-Continuing Operations 805,799 (1,636,899 ) (502,660 ) (896,368 ) (2,230,128 ) Cash Flows from Investing Activities-Discontinued Operations — 8,250 — — 8,250 Cash Flows from Investing Activities 805,799 (1,628,649 ) (502,660 ) (896,368 ) (2,221,878 ) Cash Flows from Financing Activities: Repayment of revolving credit and term loan facilities and other debt — (7,355,086 ) (6,837,053 ) — (14,192,139 ) Proceeds from revolving credit and term loan facilities and other debt — 8,445,551 6,906,063 — 15,351,614 Debit balances (payments) under cash pools — (45,621 ) 18,267 27,354 — Debt (repayment to) financing from and equity (distribution to) contribution from noncontrolling interests, net — — (2,523 ) — (2,523 ) Intercompany loans from parent — (862,425 ) (33,943 ) 896,368 — Parent cash dividends (673,635 ) — — — (673,635 ) Net payments associated with employee stock-based awards (1,142 ) — — — (1,142 ) Net proceeds associated with the Equity Offering, including Over-Allotment Option 76,192 — — — 76,192 Net proceeds associated with the At The Market (ATM) Program 8,716 — — — 8,716 Payment of debt financing and stock issuance costs and other (412 ) (12,391 ) (3,602 ) — (16,405 ) Cash Flows from Financing Activities-Continuing Operations (590,281 ) 170,028 47,209 923,722 550,678 Cash Flows from Financing Activities-Discontinued Operations — — — — — Cash Flows from Financing Activities (590,281 ) 170,028 47,209 923,722 550,678 Effect of exchange rates on cash and cash equivalents — — (24,563 ) — (24,563 ) (Decrease) Increase in cash and cash equivalents (2,301 ) (579,001 ) (206,266 ) 27,354 (760,214 ) Cash and cash equivalents, including Restricted Cash, beginning of year 2,433 642,408 375,584 (94,726 ) 925,699 Cash and cash equivalents, including Restricted Cash, end of year $ 132 $ 63,407 $ 169,318 $ (67,372 ) $ 165,485 CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued) Year Ended December 31, 2017 Parent Guarantors Non- Eliminations Consolidated Cash Flows from Operating Activities: Cash Flows from Operating Activities-Continuing Operations $ (203,403 ) $ 737,532 $ 190,130 $ — $ 724,259 Cash Flows from Operating Activities-Discontinued Operations — (1,345 ) (1,946 ) — (3,291 ) Cash Flows from Operating Activities (203,403 ) 736,187 188,184 — 720,968 Cash Flows from Investing Activities: Capital expenditures — (237,004 ) (106,127 ) — (343,131 ) Cash paid for acquisitions, net of cash acquired — (96,946 ) (122,759 ) — (219,705 ) Intercompany loans to subsidiaries (990,635 ) (344,919 ) — 1,335,554 — Investment in subsidiaries (16,170 ) — — 16,170 — Acquisitions of customer relationships and customer inducements — (63,759 ) (11,426 ) — (75,185 ) Net proceeds from Divestments — — 29,236 — 29,236 Proceeds from sales of property and equipment and other, net (including real estate) and proceeds from involuntary conversion of property and equipment — 12,963 (3,626 ) — 9,337 Cash Flows from Investing Activities-Continuing Operations (1,006,805 ) (729,665 ) (214,702 ) 1,351,724 (599,448 ) Cash Flows from Investing Activities-Discontinued Operations — — — — — Cash Flows from Investing Activities (1,006,805 ) (729,665 ) (214,702 ) 1,351,724 (599,448 ) Cash Flows from Financing Activities: Repayment of revolving credit and term loan facilities and other debt (262,579 ) (8,077,553 ) (6,089,563 ) — (14,429,695 ) Proceeds from revolving credit and term loan facilities and other debt 224,660 7,650,436 6,041,959 — 13,917,055 Early retirement of senior subordinated and senior notes (1,031,554 ) — (715,302 ) — (1,746,856 ) Net proceeds from sales of senior notes 2,134,870 — 522,078 — 2,656,948 Debit balances (payments) under cash pools — 56,233 38,493 (94,726 ) — Debt (repayment to) financing from and equity (distribution to) contribution from noncontrolling interests, net — — 9,079 — 9,079 Intercompany loans from parent — 992,708 342,846 (1,335,554 ) — Equity contribution from parent — — 16,170 (16,170 ) — Parent cash dividends (439,999 ) — — — (439,999 ) Net proceeds associated with employee stock-based awards 13,095 — — — 13,095 Net proceeds associated with the Equity Offering, including Over-Allotment Option 516,462 — — — 516,462 Net proceeds associated with the At The Market (ATM) Program 59,129 — — — 59,129 Payment of debt financing and stock issuance costs (3,848 ) (9,391 ) (1,554 ) — (14,793 ) Cash Flows from Financing Activities-Continuing Operations 1,210,236 612,433 164,206 (1,446,450 ) 540,425 Cash Flows from Financing Activities-Discontinued Operations — — — — — Cash Flows from Financing Activities 1,210,236 612,433 164,206 (1,446,450 ) 540,425 Effect of exchange rates on cash and cash equivalents — — 27,270 — 27,270 Increase (Decrease) in cash and cash equivalents 28 618,955 164,958 (94,726 ) 689,215 Cash and cash equivalents, including Restricted Cash, beginning of year 2,405 23,453 210,626 — 236,484 Cash and cash equivalents, including Restricted Cash, end of year $ 2,433 $ 642,408 $ 375,584 $ (94,726 ) $ 925,699 |
Acquisitions (Tables)
Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Business Combinations [Abstract] | |
Schedule of Business Acquisition, Pro Forma Information | The unaudited consolidated pro forma financial information (the "Pro Forma Financial Information") below summarizes the combined results of us and IODC on a pro forma basis as if the IODC Transaction had occurred on January 1, 2017. The Pro Forma Financial Information is presented for informational purposes and is not necessarily indicative of the results of operations that would have been achieved if the acquisition had taken place on January 1, 2017. The Pro Forma Financial Information for the period presented includes purchase accounting adjustments (including amortization expenses from acquired intangible assets and depreciation of acquired property, plant and equipment). We and IODC collectively incurred $28,064 of operating expenditures to complete the IODC Transaction (including advisory and professional fees). These operating expenditures have been reflected within the results of operations in the Pro Forma Financial Information as if they were incurred on January 1, 2017. (Unaudited) Year Ended December 31, 2018 2017 Total Revenues $ 4,229,251 $ 3,983,016 Income from Continuing Operations $ 377,510 $ 110,677 Per Share Income from Continuing Operations - Basic $ 1.32 $ 0.39 Per Share Income from Continuing Operations - Diluted $ 1.31 $ 0.39 |
Schedule of recognized identified assets acquired and liabilities assumed | A summary of the cumulative consideration paid and the allocation of the purchase price paid for all of our acquisitions in each respective year is as follows: 2019 2018 2017 Total IODC Transaction Other Fiscal Year 2018 Acquisitions Total Total Cash Paid (gross of cash acquired)(1) $ 53,230 $ 1,347,046 $ 432,078 $ 1,779,124 $ 234,314 Purchase Price Holdbacks and Other(2) 4,135 — 35,218 35,218 20,093 Fair Value of Common Stock Issued — — — — 83,014 Fair Value of Noncontrolling Interests — — — — 1,507 Total Consideration 57,365 1,347,046 467,296 1,814,342 338,928 Fair Value of Identifiable Assets Acquired: Cash 2,260 34,307 10,227 44,534 14,746 Accounts Receivable, Prepaid Expenses and Other Assets 3,102 7,070 17,662 24,732 24,379 Property, Plant and Equipment(3) 5,396 863,027 225,848 1,088,875 150,878 Customer Relationship Intangible Assets(4) 22,071 — 44,622 44,622 116,028 Operating Lease Right-of-Use Assets 16,956 — — — — Data Center In-Place Leases(5) — 104,340 36,130 140,470 6,300 Data Center Tenant Relationships(6) — 77,362 18,410 95,772 — Data Center Above-Market Leases(7) — 16,439 2,381 18,820 — Other Intangible Assets — — — — 14,487 Debt Assumed — — (12,312 ) (12,312 ) (5,287 ) Accounts Payable, Accrued Expenses and Other Liabilities (3,233 ) (36,230 ) (17,206 ) (53,436 ) (24,869 ) Operating Lease Liabilities (16,956 ) — — — — Deferred Income Taxes (1,813 ) — (43,218 ) (43,218 ) (18,122 ) Data Center Below-Market Leases(7) — (11,421 ) (694 ) (12,115 ) — Total Fair Value of Identifiable Net Assets Acquired 27,783 1,054,894 281,850 1,336,744 278,540 Goodwill Initially Recorded(8) $ 29,582 $ 292,152 $ 185,446 $ 477,598 $ 60,388 _______________________________________________________________________________ (1) Included in cash paid for acquisitions in our Consolidated Statement of Cash Flows for the year ended December 31, 2019 is net cash acquired of $2,260 and contingent and other payments, net of $7,267 related to acquisitions made in years prior to 2019 . Included in cash paid for acquisitions in our Consolidated Statement of Cash Flows for the year ended December 31, 2018 is net cash acquired of $44,534 and contingent and other payments, net of $23,967 related to acquisitions made in years prior to 2018 . Included in cash paid for acquisitions in our Consolidated Statement of Cash Flows for the year ended December 31, 2017 is net cash acquired of $14,746 and contingent and other payments, net of $137 related to acquisitions made in years prior to 2017 . (2) Purchase price holdbacks and other includes $18,824 purchase price accrued for the EvoSwitch Transaction in 2018 and $16,771 purchase price accrued for the Santa Fe China Transaction in 2017. (3) Consists primarily of buildings, building improvements, leasehold improvements, data center infrastructure, racking structures, warehouse equipment and computer hardware and software. (4) The weighted average lives of customer relationship intangible assets associated with acquisitions in 2019 , 2018 and 2017 was 16 years, 10 years and 12 years, respectively. (5) The weighted average lives of data center in-place leases associated with acquisitions in 2018 was six years . (6) The weighted average lives of data center tenant relationships associated with acquisitions in 2018 was nine years . (7) The weighted average lives of data center above-market leases associated with acquisitions in 2018 was three years and the weighted average lives of data center below-market leases associated with acquisitions in 2018 was seven years . (8) The goodwill associated with acquisitions, including IODC, 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. |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Components of deferred tax assets and deferred tax liabilities | The deferred tax assets and deferred tax liabilities are presented below: December 31, 2019 2018 Noncurrent deferred tax assets (Included in Other, a component of Other assets, net) $ 16,538 $ 16,648 Deferred income taxes (188,128 ) (183,836 ) The significant components of our deferred tax assets and deferred tax liabilities are presented below: December 31, 2019 2018 Deferred Tax Assets: Accrued liabilities and other adjustments(1) $ 53,197 $ 59,477 Net operating loss carryforwards 99,240 92,952 Federal benefit of unrecognized tax benefits 3,039 2,925 Valuation allowance (60,003 ) (55,666 ) 95,473 99,688 Deferred Tax Liabilities: Other assets, principally due to differences in amortization (177,645 ) (166,469 ) Plant and equipment, principally due to differences in depreciation (67,515 ) (74,147 ) Other (21,903 ) (26,260 ) (267,063 ) (266,876 ) Net deferred tax liability $ (171,590 ) $ (167,188 ) ______________________________________________________________________________ (1) Amounts as of December 31, 2018 has been restated to reflect the impact of the Netherlands VAT liability (as discussed in Note 2.y.) which resulted in an increase in accrued liabilities and other adjustments of $4,971 . |
Roll forward of Valuation allowance | Rollforward of the valuation allowance is as follows: Year Ended December 31, Balance at Beginning of the Year Charged (Credited) to Expense Other Increases/(Decreases)(1) Balance at End of the Year 2019 $ 55,666 $ 6,211 $ (1,874 ) $ 60,003 2018 61,756 3,568 (9,658 ) 55,666 2017 71,359 (4,317 ) (5,286 ) 61,756 _______________________________________________________________________________ (1) Other increases and decreases in valuation allowances are primarily related to changes in foreign currency exchange rates and disposal of certain foreign subsidiaries. |
Components of income (loss) from continuing operations before provision for income taxes | The components of income (loss) from continuing operations before provision (benefit) for income taxes are: Year Ended December 31, 2019 2018 2017 United States $ 203,225 $ 203,078 $ 162,763 Canada 48,326 53,779 50,019 Other Foreign 76,591 153,454 (11,805 ) $ 328,142 $ 410,311 $ 200,977 |
Provision (benefit) for income taxes | The provision (benefit) for income taxes consists of the following components: Year Ended December 31, 2019 2018 2017 Federal—current $ 7,262 $ 703 $ 16,345 Federal—deferred (3,356 ) (4,162 ) (12,655 ) State—current 3,943 918 3,440 State—deferred (1,126 ) 627 (1,276 ) Foreign—current 49,350 45,371 42,532 Foreign—deferred 3,858 (704 ) (25,424 ) Provision (Benefit) for Income Taxes $ 59,931 $ 42,753 $ 22,962 |
Reconciliation of total income tax expense and amount computed by applying the federal income tax rate | A reconciliation of total income tax expense and the amount computed by applying the current federal statutory tax rate of 21.0% to income from continuing operations before provision (benefit) for income taxes for the years ended December 31, 2019 and 2018 and the former federal statutory tax rate of 35.0% to income from continuing operations before provision (benefit) for income taxes for the year ended December 31, 2017 is as follows: Year Ended December 31, 2019 2018 2017 Computed "expected" tax provision $ 68,910 $ 86,165 $ 70,342 Changes in income taxes resulting from: Tax adjustment relating to REIT (40,577 ) (35,165 ) (78,873 ) State taxes (net of federal tax benefit) 2,115 1,599 2,692 Increase (decrease) in valuation allowance (net operating losses) 6,211 3,568 (4,317 ) Foreign repatriation — — 29,476 U.S. Federal Rate Reduction — — (4,685 ) Reserve (reversal) accrual and audit settlements (net of federal tax benefit) 514 (13,985 ) (9,103 ) Foreign tax rate differential 8,562 1,031 (9,639 ) Disallowed foreign interest, Subpart F income, and other foreign taxes 14,241 903 29,325 Other, net (45 ) (1,363 ) (2,256 ) Provision (Benefit) for Income Taxes $ 59,931 $ 42,753 $ 22,962 |
Tax years subject to examination by major tax jurisdictions | A summary of tax years that remain subject to examination by major tax jurisdictions is as follows: Tax Years Tax Jurisdiction See Below United States—Federal and State 2015 to present United Kingdom 2012 to present Canada |
Reconciliation of unrecognized tax benefits | A rollforward of unrecognized tax benefits is as follows: Gross tax contingencies—December 31, 2016 $ 59,466 Gross additions based on tax positions related to the current year 4,067 Gross additions for tax positions of prior years 3,368 Gross reductions for tax positions of prior years(1) (2,789 ) Lapses of statutes (2,629 ) Settlements (22,950 ) Gross tax contingencies—December 31, 2017 38,533 Gross additions based on tax positions related to the current year 3,147 Gross additions for tax positions of prior years 981 Gross reductions for tax positions of prior years (2,865 ) Lapses of statutes (4,462 ) Settlements (14 ) Gross tax contingencies—December 31, 2018 35,320 Gross additions based on tax positions related to the current year 2,914 Gross additions for tax positions of prior years 1,271 Gross reductions for tax positions of prior years (299 ) Lapses of statutes (4,034 ) Settlements (104 ) Gross tax contingencies—December 31, 2019 $ 35,068 _______________________________________________________________________________ (1) This amount includes gross additions related to the Recall Transaction. |
Quarterly Results of Operatio_2
Quarterly Results of Operations (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Results of Operations (Unaudited) | Quarter Ended March 31 June 30 September 30 December 31 2019 Total revenues $ 1,053,863 $ 1,066,907 $ 1,062,224 $ 1,079,590 Operating income (loss) 158,675 193,115 223,474 206,074 Income (loss) from continuing operations 30,476 92,347 108,284 37,104 Total (loss) income from discontinued operations (24 ) 128 — — Net income (loss) 30,452 92,475 108,284 37,104 Net income (loss) attributable to Iron Mountain Incorporated 29,561 92,441 107,675 37,700 (1) Earnings (losses) per Share-Basic: Income (loss) per share from continuing operations 0.10 0.32 0.37 0.13 Total (loss) income per share from discontinued operations — — — — Net income (loss) per share attributable to Iron Mountain Incorporated 0.10 0.32 0.37 0.13 Earnings (losses) per Share-Diluted: Income (loss) per share from continuing operations 0.10 0.32 0.37 0.13 Total (loss) income per share from discontinued operations — — — — Net income (loss) per share attributable to Iron Mountain Incorporated 0.10 0.32 0.37 0.13 2018 Total revenues $ 1,042,458 $ 1,060,823 $ 1,060,991 $ 1,061,489 Operating income (loss) 157,119 201,460 195,635 254,053 Income (loss) from continuing operations(2) 39,389 92,263 77,349 158,557 Total (loss) income from discontinued operations (462 ) (360 ) (11,605 ) — Net income (loss) 38,927 91,903 65,744 158,557 Net income (loss) attributable to Iron Mountain Incorporated 38,459 91,761 65,869 157,844 (3) Earnings (losses) per Share-Basic: Income (loss) per share from continuing operations 0.14 0.32 0.27 0.55 Total (loss) income per share from discontinued operations — — (0.04 ) — Net income (loss) per share attributable to Iron Mountain Incorporated 0.13 0.32 0.23 0.55 Earnings (losses) per Share-Diluted: Income (loss) per share from continuing operations 0.14 0.32 0.27 0.55 Total (loss) income per share from discontinued operations — — (0.04 ) — Net income (loss) per share attributable to Iron Mountain Incorporated 0.13 0.32 0.23 0.55 _______________________________________________________________________________ (1) The change in net income (loss) attributable to Iron Mountain Incorporated in the fourth quarter of 2019 compared to the third quarter of 2019 is primarily attributable to (i) an increase of approximately $63,000 in losses on foreign currency transactions in the fourth quarter of 2019 compared to the third quarter of 2019, (ii) Restructuring Charges of $48,600 , which began in the fourth quarter of 2019 (as described in Note 14), partially offset by (iii) an increase in net gains on disposal/write-down of property, plant and equipment of $37,500 recorded during the fourth quarter of 2019 compared to the third quarter of 2019 and (iv) a decrease of approximately $5,100 in the provision for income taxes recorded in the fourth quarter of 2019 compared to the third quarter of 2019. (2) Income (loss) from continuing operations reflects the immaterial restatement described in Note 2.y., which reduced Income (loss) from continuing operations for the three month periods ended March 31, 2018, June 30, 2018, September 30, 2018 and December 31, 2018 by $6,225 , $1,640 , $1,279 and $274 , respectively. (3) The change in net income (loss) attributable to Iron Mountain Incorporated in the fourth quarter of 2018 compared to the third quarter of 2018 is primarily attributable to (i) gains of approximately $62,500 recorded during the fourth quarter of 2018 associated with the sale of land and buildings in the United Kingdom (see Note 2.g.), (ii) a gain on disposal/write-down of property, plant and equipment (excluding real estate) recorded during the fourth quarter of 2018 of approximately $8,800 related to the receipt of insurance proceeds related to the involuntary conversion of certain assets in a facility we own in Argentina (see Note 2.g.), (iii) a decrease in the provision for income taxes recorded in the fourth quarter of 2018 compared to the third quarter of 2018 of approximately $11,200 , (iv) an increase in gains on foreign currency transactions in the fourth quarter of 2018 compared to the third quarter of 2018 of approximately $20,000 and (v) a charge of $11,100 recorded during the third quarter of 2018 relating to the resolution of the post-closing adjustments to the Access Contingent Consideration (as defined and discussed in Note 13) that did not recur during the fourth quarter of 2018. |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Segment Reporting [Abstract] | |
Schedule of Analysis of Business Segment Information and Reconciliation | An analysis of our business segment information and reconciliation to the accompanying Consolidated Financial Statements is as follows: Global RIM Business Global Data Center Business Corporate and Total As of and for the Year Ended December 31, 2019 Total Revenues $ 3,812,433 $ 257,151 $ 193,000 $ 4,262,584 Storage Rental 2,320,076 246,925 114,086 2,681,087 Service 1,492,357 10,226 78,914 1,581,497 Depreciation and Amortization 454,652 133,927 69,622 658,201 Depreciation 330,534 78,939 46,850 456,323 Amortization 124,118 54,988 22,772 201,878 Adjusted EBITDA 1,563,223 121,517 (247,135 ) 1,437,605 Total Assets(1) 10,753,218 2,535,848 527,750 13,816,816 Expenditures for Segment Assets 398,690 427,935 56,242 882,867 Capital Expenditures 248,232 392,029 52,722 692,983 Cash Paid for Acquisitions, Net of Cash Acquired 54,717 — 3,520 58,237 Acquisitions of Customer Relationships, Customer Inducements, Contract Fulfillment Costs and third-party commissions 95,741 35,906 — 131,647 As of and for the Year Ended December 31, 2018 Total Revenues $ 3,842,600 $ 228,983 $ 154,178 $ 4,225,761 Storage Rental 2,301,344 218,675 102,436 2,622,455 Service 1,541,256 10,308 51,742 1,603,306 Depreciation and Amortization 472,155 105,680 61,679 639,514 Depreciation 341,384 58,707 52,649 452,740 Amortization 130,771 46,973 9,030 186,774 Adjusted EBITDA 1,569,353 99,574 (244,103 ) 1,424,824 Total Assets(1) 9,135,198 2,217,505 504,515 11,857,218 Expenditures for Segment Assets 443,634 1,794,386 79,286 2,317,306 Capital Expenditures 254,308 152,739 53,015 460,062 Cash Paid for Acquisitions, Net of Cash Acquired 93,217 1,639,427 25,913 1,758,557 Acquisitions of Customer Relationships, Customer Inducements and Contract Fulfillment Costs 96,109 2,220 358 98,687 As of and for the Year Ended December 31, 2017 Total Revenues $ 3,706,110 $ 37,694 $ 101,774 $ 3,845,578 Storage Rental 2,261,831 35,839 79,887 2,377,557 Service 1,444,279 1,855 21,887 1,468,021 Depreciation and Amortization 458,634 10,224 53,518 522,376 Depreciation 351,915 8,617 45,751 406,283 Amortization 106,719 1,607 7,767 116,093 Adjusted EBITDA 1,470,579 11,275 (238,281 ) 1,243,573 Total Assets(1) 9,151,755 382,198 1,441,434 10,975,387 Expenditures for Segment Assets 424,628 86,543 126,850 638,021 Capital Expenditures 262,474 32,015 48,642 343,131 Cash Paid for Acquisitions, Net of Cash Acquired(2) 86,969 54,528 78,208 219,705 Acquisitions of Customer Relationships and Customer Inducements 75,185 — — 75,185 _______________________________________________________________________________ (1) Excludes all intercompany receivables or payables and investment in subsidiary balances. Total Assets as of December 31, 2019 reflects the adoption of ASU 2016-02. Total Assets for the Corporate and Other Business segment have been restated to reflect the impact of the Netherlands VAT liability (as discussed in Note 2.y.) which resulted in an increase in total assets for this segment of $4,971 and $2,985 |
Schedule of Reconciliation of Adjusted EBITDA to Income (Loss) From Continuing Operations on a Consolidated Basis | A reconciliation of Adjusted EBITDA to income (loss) from continuing operations on a consolidated basis is as follows: Year Ended December 31, 2019 2018 2017 Adjusted EBITDA $ 1,437,605 $ 1,424,824 $ 1,243,573 (Add)/Deduct: Provision (Benefit) for Income Taxes 59,931 42,753 22,962 Other Expense (Income), Net 33,898 (11,692 ) 79,429 Interest Expense, Net 419,298 409,648 353,645 (Gain) Loss on disposal/write-down of property, plant and equipment, net (63,824 ) (73,622 ) (766 ) Depreciation and amortization 658,201 639,514 522,376 Significant Acquisition Costs 13,293 50,665 84,901 Restructuring Charges 48,597 — — Intangible impairments — — 3,011 Income (Loss) from Continuing Operations $ 268,211 $ 367,558 $ 178,015 |
Schedule of Operations in Different Geographical Areas | Information as to our operations in different geographical areas is as follows: Year Ended December 31, 2019 2018 2017 Revenues: United States $ 2,632,586 $ 2,579,847 $ 2,310,296 United Kingdom 274,931 280,993 246,373 Canada 243,033 249,505 243,625 Australia 143,511 155,367 157,333 Remaining Countries 968,523 960,049 887,951 Total Revenues $ 4,262,584 $ 4,225,761 $ 3,845,578 Long-lived Assets: United States $ 7,862,262 $ 6,902,232 $ 5,476,551 United Kingdom 755,859 547,768 529,233 Canada 556,591 453,398 500,396 Australia 530,755 442,755 470,432 Remaining Countries 2,875,010 2,302,951 2,048,460 Total Long-lived Assets $ 12,580,477 $ 10,649,104 $ 9,025,072 |
Schedule of Revenues By Product and Service Lines | Information as to our revenues by product and service lines by segment are as follows: Global RIM Business Global Data Center Business Corporate and Total For the Year Ended December 31, 2019 Records Management(1) $ 2,866,192 $ — $ 128,954 $ 2,995,146 Data Management(1) 520,082 — 64,046 584,128 Information Destruction(1)(2) 426,159 — — 426,159 Data Center — 257,151 — 257,151 Total Revenues $ 3,812,433 $ 257,151 $ 193,000 $ 4,262,584 For the Year Ended December 31, 2018 Records Management(1) $ 2,871,253 $ — $ 96,669 $ 2,967,922 Data Management(1) 539,035 — 57,509 596,544 Information Destruction(1)(2) 432,312 — — 432,312 Data Center — 228,983 — 228,983 Total Revenues $ 3,842,600 $ 228,983 $ 154,178 $ 4,225,761 For the Year Ended December 31, 2017 Records Management(1) $ 2,778,024 $ — $ 69,667 $ 2,847,691 Data Management(1) 542,148 — 32,103 574,251 Information Destruction(1)(2) 385,938 — 4 385,942 Data Center — 37,694 — 37,694 Total Revenues $ 3,706,110 $ 37,694 $ 101,774 $ 3,845,578 _______________________________________________________________________________ (1) Each of the offerings within our product and service lines has a component of revenue that is storage rental related and a component that is service revenues, except the destruction services offering, which does not have a storage rental component. (2) Includes Secure Shredding services. |
Schedule of Acquisition costs Included in Statement of Operations | Significant Acquisition Costs included in the accompanying Consolidated Statements of Operations by segment are as follows: Year Ended December 31, 2019 2018 2017 Global RIM Business $ 8,223 $ 20,590 $ 47,722 Global Data Center Business 337 11,423 — Corporate and Other Business 4,733 18,652 37,179 Total Significant Acquisition Costs $ 13,293 $ 50,665 $ 84,901 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contractual obligations related to purchase commitments | We have certain contractual obligations related to purchase commitments which require minimum payments as follows: Year Purchase 2020 $ 134,127 2021 68,208 2022 32,480 2023 2,004 2024 1,985 Thereafter 340 $ 239,144 ______________________________________________________________________ (1) Purchase commitments (i) include obligations for future construction costs associated with the expansion of our Global Data Center Business, which represent a significant amount of the purchase commitments due in 2020 and (ii) exclude our operating and financing lease obligations (see Note 2.m.). |
Stockholders' Equity Matters (T
Stockholders' Equity Matters (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Equity [Abstract] | |
Schedule of Dividends Declared and Payments | In 2017 , 2018 and 2019 , our board of directors declared the following dividends: Declaration Date Dividend Per Share Record Date Total Amount Payment Date February 15, 2017 $ 0.5500 March 15, 2017 $ 145,235 April 3, 2017 May 24, 2017 0.5500 June 15, 2017 145,417 July 3, 2017 July 27, 2017 0.5500 September 15, 2017 146,772 October 2, 2017 October 24, 2017 0.5875 December 15, 2017 166,319 January 2, 2018 February 14, 2018 0.5875 March 15, 2018 167,969 April 2, 2018 May 24, 2018 0.5875 June 15, 2018 168,078 July 2, 2018 July 24, 2018 0.5875 September 17, 2018 168,148 October 2, 2018 October 25, 2018 0.6110 December 17, 2018 174,935 January 3, 2019 February 7, 2019 0.6110 March 15, 2019 175,242 April 2, 2019 May 22, 2019 0.6110 June 17, 2019 175,389 July 2, 2019 July 26, 2019 0.6110 September 16, 2019 175,434 October 2, 2019 October 31, 2019 0.6185 December 16, 2019 177,687 January 2, 2020 |
Schedule of Classification of Dividends Paid | For the years ended December 31, 2019 , 2018 , and 2017 , the dividends we paid on our common shares were classified as follows: Year Ended December 31, 2019 2018 2017 Nonqualified ordinary dividends 54.8 % 83.0 % 82.1 % Qualified ordinary dividends 4.5 % 4.8 % 17.9 % Capital gains 14.7 % 5.8 % — % Return of capital 26.0 % 6.4 % — % 100.0 % 100.0 % 100.0 % |
Divestments (Tables)
Divestments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Summary of Operations of the Recall Divestments | The table below summarizes certain results of operations of the Recall Divestments included in discontinued operations for the years ended December 31, 2019 , 2018 and 2017 : Year Ended December 31, Description 2019 2018(1) 2017 Total Revenues $ — $ — $ — Income (Loss) from Discontinued Operations Before Provision (Benefit) for Income Taxes 104 (12,574 ) (8,118 ) (Benefit) Provision for Income Taxes — (147 ) (1,827 ) Income (Loss) from Discontinued Operations, Net of Tax $ 104 $ (12,427 ) $ (6,291 ) ______________________________________________________________________________ (1) As indicated above, on May 4, 2016, we completed the Access Sale. As part of the total consideration for the Access Sale we were entitled to receive up to $25,000 of additional cash proceeds (the "Access Contingent Consideration"). During 2018, we settled the Access Contingent Consideration with Access CIG, as well as indemnification claims Access CIG previously raised in connection with the Access Sale. Changes to the realizable value of the Access Contingent Consideration were recorded to our Consolidated Statement of Operations as a component of discontinued operations. The loss from discontinued operations during the year ended December 31, 2018 primarily relates to losses incurred due to the resolution of the post-closing adjustments to the Access Contingent Consideration in connection with our agreement with Access CIG. |
Restructuring Charges (Tables)
Restructuring Charges (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Restructuring and Related Activities [Abstract] | |
Schedule of restructuring | Restructuring Charges included in the accompanying Consolidated Statement of Operations by segment for the year ended December 31, 2019 is as follows: Year Ended December 31, 2019 Global RIM Business $ 21,900 Global Data Center Business 306 Corporate and Other Business 26,391 Restructuring Charges $ 48,597 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Accounting Policies [Abstract] | ||
Restricted cash | $ 4,865 | $ 15,141 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Derivative Instruments and Hedging Activities (Details) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Target percentage of debt portfolio with fixed interest rates | 75.00% |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Property, Plant and Equipment (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, stated at cost | $ 8,048,906 | $ 7,600,949 | |
Capitalized interest | 15,980 | 3,732 | |
Capitalization of internal use computer software | 34,650 | 29,407 | $ 25,166 |
Asset retirement obligations | 30,831 | 28,256 | |
Land | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, stated at cost | 448,566 | 400,980 | |
Buildings and building improvements | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, stated at cost | 3,029,309 | 2,991,307 | |
Leasehold improvements | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, stated at cost | 852,022 | 770,666 | |
Racking | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, stated at cost | 2,040,832 | 2,001,831 | |
Warehouse equipment/vehicles | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, stated at cost | 483,218 | 481,515 | |
Furniture and fixtures | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, stated at cost | 54,275 | 56,207 | |
Computer hardware and software | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, stated at cost | 689,261 | 680,283 | |
Construction in progress | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, stated at cost | $ 451,423 | $ 218,160 | |
Minimum | Buildings and building improvements | |||
Property, Plant and Equipment [Line Items] | |||
Useful life | 5 years | ||
Minimum | Leasehold improvements | |||
Property, Plant and Equipment [Line Items] | |||
Useful life | 5 years | ||
Minimum | Racking | |||
Property, Plant and Equipment [Line Items] | |||
Useful life | 1 year | ||
Minimum | Warehouse equipment/vehicles | |||
Property, Plant and Equipment [Line Items] | |||
Useful life | 1 year | ||
Minimum | Furniture and fixtures | |||
Property, Plant and Equipment [Line Items] | |||
Useful life | 1 year | ||
Minimum | Computer hardware and software | |||
Property, Plant and Equipment [Line Items] | |||
Useful life | 2 years | ||
Maximum | Buildings and building improvements | |||
Property, Plant and Equipment [Line Items] | |||
Useful life | 40 years | ||
Maximum | Leasehold improvements | |||
Property, Plant and Equipment [Line Items] | |||
Useful life | 10 years | ||
Maximum | Racking | |||
Property, Plant and Equipment [Line Items] | |||
Useful life | 20 years | ||
Maximum | Warehouse equipment/vehicles | |||
Property, Plant and Equipment [Line Items] | |||
Useful life | 10 years | ||
Maximum | Furniture and fixtures | |||
Property, Plant and Equipment [Line Items] | |||
Useful life | 10 years | ||
Maximum | Computer hardware and software | |||
Property, Plant and Equipment [Line Items] | |||
Useful life | 5 years |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies - Long Lived Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
(Gain) Loss on disposal/write-down of property, plant and equipment, net | $ 63,824 | $ 73,622 | $ 766 |
Sale and sale-leaseback transactions | 67,800 | ||
Loss on disposal/write-down of property, plant and equipment | (63,824) | (74,134) | $ (766) |
Iron Mountain Iron Cloud | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Loss on disposal/write-down of property, plant and equipment | 25,000 | ||
United Kingdom | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Gain on sale of real estate, net of tax | $ 63,800 | ||
United States | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Write down of property | 15,700 | ||
Disposed of by sale | United Kingdom | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Gain on sale of real estate, net of tax | $ 36,000 |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies - Goodwill and Other Indefinite-Lived Intangible Assets (Details) unit in Thousands, $ in Thousands | Oct. 01, 2017USD ($) | Dec. 31, 2019USD ($)unit | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) |
Accounting Policies [Abstract] | ||||
Intangible impairments | $ | $ 3,011 | $ 0 | $ 0 | $ 3,011 |
Number of reporting units | unit | 9 |
Summary of Significant Accoun_9
Summary of Significant Accounting Policies - Schedule of Carrying Value of Goodwill, by Reporting Unit (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Goodwill | ||
Goodwill | $ 4,485,209 | $ 4,441,030 |
Global RIM Business | North American Records And Information Management | ||
Goodwill | ||
Goodwill | 2,715,550 | 2,251,795 |
Global RIM Business | Western Europe | ||
Goodwill | ||
Goodwill | 572,482 | |
Global RIM Business | Latin America | ||
Goodwill | ||
Goodwill | 140,897 | |
Global RIM Business | ANZ SA | ||
Goodwill | ||
Goodwill | 274,913 | |
Global RIM Business | Asia | ||
Goodwill | ||
Goodwill | 239,059 | |
North American Data Management Business | North American Data Management | ||
Goodwill | ||
Goodwill | 493,491 | |
Corporate and Other Business | Consumer Storage | ||
Goodwill | ||
Goodwill | 0 | |
Corporate and Other Business | Fine Arts | ||
Goodwill | ||
Goodwill | 37,533 | 35,526 |
Corporate and Other Business | Entertainment Services | ||
Goodwill | ||
Goodwill | 34,102 | 34,233 |
Corporate and Other Business | Technology Escrow Services | ||
Goodwill | ||
Goodwill | 46,105 | |
Western European Business | Western Europe | ||
Goodwill | ||
Goodwill | 381,806 | |
Other International Business | NEE And MEI | ||
Goodwill | ||
Goodwill | 169,780 | |
Other International Business | Latin America | ||
Goodwill | ||
Goodwill | 136,099 | |
Other International Business | ANZ SA | ||
Goodwill | ||
Goodwill | 300,204 | |
Other International Business | Asia | ||
Goodwill | ||
Goodwill | 212,140 | |
Global Data Center Business | Global Data Center | ||
Goodwill | ||
Goodwill | $ 424,568 | $ 425,956 |
Summary of Significant Accou_10
Summary of Significant Accounting Policies - Schedule of Changes in Carrying Value of Goodwill, by Reportable Operating Segment (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Gross amount of goodwill [Roll Forward] | ||
Beginning balance | $ 4,441,030 | $ 4,070,267 |
Deductible goodwill acquired during the year | 16,450 | 9,895 |
Non-deductible goodwill acquired during the year | 13,132 | 467,703 |
Fair value and other adjustments | 4,280 | 4,469 |
Currency effects | 10,317 | (110,102) |
Ending balance | 4,485,209 | 4,441,030 |
Accumulated goodwill impairment | 135,420 | 135,420 |
Accounting adjustments | 4,942 | (2,717) |
Cash paid for previous acquisition | 7,186 | |
Cash received related to certain acquisitions | 662 | |
Global RIM Business | ||
Gross amount of goodwill [Roll Forward] | ||
Beginning balance | 3,899,210 | 3,964,114 |
Deductible goodwill acquired during the year | 16,450 | 3,251 |
Non-deductible goodwill acquired during the year | 11,228 | 34,230 |
Fair value and other adjustments | 4,439 | 3,860 |
Currency effects | 11,574 | (105,043) |
Ending balance | 3,942,901 | 3,899,210 |
Accumulated goodwill impairment | 132,409 | 132,409 |
Global Data Center Business | ||
Gross amount of goodwill [Roll Forward] | ||
Beginning balance | 425,956 | 0 |
Deductible goodwill acquired during the year | 0 | 0 |
Non-deductible goodwill acquired during the year | 0 | 429,853 |
Fair value and other adjustments | 258 | 0 |
Currency effects | (1,646) | (3,897) |
Ending balance | 424,568 | 425,956 |
Accumulated goodwill impairment | 0 | 0 |
Corporate and Other Business | ||
Gross amount of goodwill [Roll Forward] | ||
Beginning balance | 115,864 | 106,153 |
Deductible goodwill acquired during the year | 0 | 6,644 |
Non-deductible goodwill acquired during the year | 1,904 | 3,620 |
Fair value and other adjustments | (417) | 609 |
Currency effects | 389 | (1,162) |
Ending balance | 117,740 | 115,864 |
Accumulated goodwill impairment | $ 3,011 | 3,011 |
Disposal Group, Not Discontinued Operations | IMFS | ||
Gross amount of goodwill [Roll Forward] | ||
Goodwill allocated to IMFS Divestment (see Note 13) | (1,202) | |
Disposal Group, Not Discontinued Operations | IMFS | Global RIM Business | ||
Gross amount of goodwill [Roll Forward] | ||
Goodwill allocated to IMFS Divestment (see Note 13) | (1,202) | |
Disposal Group, Not Discontinued Operations | IMFS | Global Data Center Business | ||
Gross amount of goodwill [Roll Forward] | ||
Goodwill allocated to IMFS Divestment (see Note 13) | 0 | |
Disposal Group, Not Discontinued Operations | IMFS | Corporate and Other Business | ||
Gross amount of goodwill [Roll Forward] | ||
Goodwill allocated to IMFS Divestment (see Note 13) | $ 0 |
Summary of Significant Accou_11
Summary of Significant Accounting Policies - Customer Relationships and Acquisition Costs and Other Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Amortizable intangible assets | |||
Net Carrying Amount | $ 1,393,183 | $ 1,506,522 | |
Amortization | 201,878 | 186,774 | $ 116,093 |
Included in Depreciation and Amortization | |||
Estimated amortization expense for existing intangible assets for the next five succeeding fiscal years | |||
2020 | 160,865 | ||
2021 | 157,647 | ||
2022 | 127,148 | ||
2023 | 121,256 | ||
2024 | 116,253 | ||
Thereafter | 712,369 | ||
Customer relationship intangible assets | |||
Amortizable intangible assets | |||
Gross Carrying Amount | 1,751,848 | 1,718,919 | |
Accumulated Amortization | (544,721) | (455,705) | |
Net Carrying Amount | $ 1,207,127 | 1,263,214 | |
Customer relationship intangible assets | Minimum | |||
Amortizable intangible assets | |||
Useful life of finite-lived intangible assets | 10 years | ||
Customer relationship intangible assets | Maximum | |||
Amortizable intangible assets | |||
Useful life of finite-lived intangible assets | 30 years | ||
Customer relationship intangible assets | Weighted Average | |||
Amortizable intangible assets | |||
Useful life of finite-lived intangible assets | 17 years | ||
Customer Inducements | |||
Amortizable intangible assets | |||
Useful life of finite-lived intangible assets | 3 years | ||
Gross Carrying Amount | $ 52,718 | 56,478 | |
Accumulated Amortization | (29,397) | (34,181) | |
Net Carrying Amount | $ 23,321 | 22,297 | |
Customer Inducements, Current Record Management Vendor Or Payments To Customers | Minimum | |||
Amortizable intangible assets | |||
Useful life of finite-lived intangible assets | 5 years | ||
Customer Inducements, Current Record Management Vendor Or Payments To Customers | Maximum | |||
Amortizable intangible assets | |||
Useful life of finite-lived intangible assets | 15 years | ||
Customer Inducements, Current Record Management Vendor Or Payments To Customers | Weighted Average | |||
Amortizable intangible assets | |||
Useful life of finite-lived intangible assets | 7 years | ||
Data center in-place leases | Weighted Average | |||
Amortizable intangible assets | |||
Remaining amortization period | 5 years | ||
Data center tenant relationships | Weighted Average | |||
Amortizable intangible assets | |||
Remaining amortization period | 8 years | ||
Customer relationship and customer inducement intangible assets | |||
Amortizable intangible assets | |||
Amortization | $ 117,972 | 113,782 | 109,563 |
Data center in-place leases and tenant relationships | |||
Amortizable intangible assets | |||
Amortization | $ 46,696 | 43,061 | 0 |
Data Center Above Market Leases | Weighted Average | |||
Amortizable intangible assets | |||
Remaining amortization period | 4 years | ||
Data Center Below Market Leases | Weighted Average | |||
Amortizable intangible assets | |||
Remaining amortization period | 9 years | ||
Other Intangible Assets | |||
Amortizable intangible assets | |||
Gross Carrying Amount | $ 19,893 | 20,310 | |
Accumulated Amortization | (18,405) | (14,798) | |
Net Carrying Amount | $ 1,488 | 5,512 | |
Other Intangible Assets | Weighted Average | |||
Amortizable intangible assets | |||
Useful life of finite-lived intangible assets | 4 years | ||
Data center lease-based intangible assets | |||
Amortizable intangible assets | |||
Gross Carrying Amount | $ 265,945 | 271,818 | |
Accumulated Amortization | (103,210) | (50,807) | |
Net Carrying Amount | 162,735 | 221,011 | |
Gross Carrying Amount | 12,750 | 12,318 | |
Accumulated Amortization | (3,937) | (1,642) | |
Net Carrying Amount | 8,813 | 10,676 | |
Third-party commissions asset and other finite-lived intangible assets | |||
Amortizable intangible assets | |||
Gross Carrying Amount | 31,708 | 30,071 | |
Accumulated Amortization | (4,134) | (1,089) | |
Net Carrying Amount | 27,574 | 28,982 | |
Amortization | 7,957 | 5,713 | 6,530 |
Permanent withdrawal fees | |||
Amortizable intangible assets | |||
Amortization | 9,993 | 11,408 | 11,253 |
Permanent withdrawal fees | Amortization Expense Charged To Revenues | |||
Estimated amortization expense for existing intangible assets for the next five succeeding fiscal years | |||
2020 | 7,760 | ||
2021 | 5,207 | ||
2022 | 3,200 | ||
2023 | 2,112 | ||
2024 | 1,125 | ||
Thereafter | 1,303 | ||
Data center above-market leases and data center below-market leases | |||
Amortizable intangible assets | |||
Amortization | 3,710 | 4,873 | $ 0 |
Data center above-market leases and data center below-market leases | Amortization Expense Charged To Revenues | |||
Estimated amortization expense for existing intangible assets for the next five succeeding fiscal years | |||
2020 | 872 | ||
2021 | 234 | ||
2022 | 273 | ||
2023 | (470) | ||
2024 | (610) | ||
Thereafter | (3,112) | ||
Customer Relationships, Customer Inducements and Data Center | |||
Amortizable intangible assets | |||
Gross Carrying Amount | 2,102,219 | 2,077,286 | |
Accumulated Amortization | (681,462) | (541,782) | |
Net Carrying Amount | $ 1,420,757 | $ 1,535,504 |
Summary of Significant Accou_12
Summary of Significant Accounting Policies - Deferred Financing Costs (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Accounting Policies [Abstract] | ||
Gross deferred financing costs | $ 144,981 | $ 128,469 |
Accumulated amortization of deferred financing costs | 58,016 | $ 41,862 |
Deferred Financing Costs, Amortization Expense, Rolling Maturity [Abstract] | ||
2020 | 17,132 | |
2021 | 16,002 | |
2022 | 14,888 | |
2023 | 11,618 | |
2024 | 8,424 | |
Thereafter | $ 18,901 |
Summary of Significant Accou_13
Summary of Significant Accounting Policies - Prepaid Expenses and Accrued Expenses (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Accounting Policies [Abstract] | |||
Minimum percentage of current assets and liabilities required to be disclosed separately | 5.00% | 5.00% | |
Interest | $ 97,987 | $ 84,283 | |
Incentive compensation | 56,662 | 75,256 | |
Sales tax and VAT payable | 115,352 | 124,232 | |
Dividend | 186,021 | 181,986 | |
Operating lease liabilities | 223,249 | $ 209,911 | |
Other | 282,481 | 315,024 | |
Accrued expenses | $ 961,752 | $ 780,781 |
Summary of Significant Accou_14
Summary of Significant Accounting Policies - Revenue - Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2018 | |
Capitalized Contract Cost [Line Items] | ||||||||
Revenue from sales of products, percentage | 2.00% | |||||||
Storage rental revenue | $ 2,681,087 | |||||||
Revenues | $ 1,061,489 | $ 1,060,991 | $ 1,060,823 | $ 1,042,458 | $ 4,225,761 | $ 3,845,578 | ||
Intake Costs asset | ||||||||
Capitalized Contract Cost [Line Items] | ||||||||
Capitalized contract cost, amortization period | 3 years | |||||||
Commissions asset | ||||||||
Capitalized Contract Cost [Line Items] | ||||||||
Capitalized contract cost, amortization period | 3 years | |||||||
Contract term | 1 year | |||||||
Storage rental | ||||||||
Capitalized Contract Cost [Line Items] | ||||||||
Revenues | 2,622,455 | 2,377,557 | ||||||
ASU 2014-09 | ||||||||
Capitalized Contract Cost [Line Items] | ||||||||
Decrease to stockholders' equity | 30,233 | $ 30,200 | ||||||
Global Data Center Business | ||||||||
Capitalized Contract Cost [Line Items] | ||||||||
Storage rental revenue | $ 246,925 | |||||||
Revenues | 228,983 | 37,694 | ||||||
Global Data Center Business | Storage rental | ||||||||
Capitalized Contract Cost [Line Items] | ||||||||
Revenues | 218,675 | $ 35,839 | ||||||
Global Data Center Business | Power and connectivity | ||||||||
Capitalized Contract Cost [Line Items] | ||||||||
Storage rental revenue | $ 43,300 | |||||||
Revenues | $ 38,800 |
Summary of Significant Accou_15
Summary of Significant Accounting Policies - Revenue - Contract Fulfillment Costs (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Intake Costs asset | ||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||
Gross Carrying Amount | $ 41,224 | $ 39,748 |
Accumulated Amortization | (23,579) | (24,504) |
Net Carrying Amount | 17,645 | 15,244 |
Commissions asset | ||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||
Gross Carrying Amount | 68,008 | 58,424 |
Accumulated Amortization | (27,178) | (34,637) |
Net Carrying Amount | $ 40,830 | $ 23,787 |
Summary of Significant Accou_16
Summary of Significant Accounting Policies - Revenue - Amortization Expense Associated with Commissions Asset and Intake Costs (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Intake Costs asset | ||
Capitalized Contract Cost [Line Items] | ||
Amortization expense | $ 10,144 | $ 10,380 |
Capitalized commissions asset | ||
Capitalized Contract Cost [Line Items] | ||
Amortization expense | $ 19,109 | $ 13,838 |
Summary of Significant Accou_17
Summary of Significant Accounting Policies - Revenue - Estimated Amortization Expense for Contract Fulfillment Costs (Details) $ in Thousands | Dec. 31, 2019USD ($) |
Accounting Policies [Abstract] | |
2020 | $ 28,156 |
2021 | 20,448 |
2022 | $ 9,871 |
Summary of Significant Accou_18
Summary of Significant Accounting Policies - Revenue - Summary of Deferred Revenue Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Accounting Policies [Abstract] | ||
Deferred revenue - Current | $ 274,036 | $ 264,823 |
Deferred revenue - Long-term | $ 36,029 | $ 26,401 |
Summary of Significant Accou_19
Summary of Significant Accounting Policies - Revenue - Data Center (Details) $ in Thousands | Dec. 31, 2019USD ($) |
Accounting Policies [Abstract] | |
2020 | $ 202,130 |
2021 | 135,911 |
2022 | 98,797 |
2023 | 80,079 |
2024 | $ 68,376 |
Summary of Significant Accou_20
Summary of Significant Accounting Policies - Leases Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2019 | |
Lessee, Lease, Description [Line Items] | |||||
Operating lease rent expense | $ 365,762 | $ 350,403 | |||
Sublease Income | $ 6,637 | ||||
Minimum | |||||
Lessee, Lease, Description [Line Items] | |||||
Lessee, operating lease, term | 5 years | ||||
Lessee, operating lease, renewal term | 1 year | ||||
Maximum | |||||
Lessee, Lease, Description [Line Items] | |||||
Lessee, operating lease, term | 10 years | ||||
Lessee, operating lease, renewal term | 5 years | ||||
Vehicle And Equipment | Minimum | |||||
Lessee, Lease, Description [Line Items] | |||||
Lessee, operating lease, term | 1 year | ||||
Vehicle And Equipment | Maximum | |||||
Lessee, Lease, Description [Line Items] | |||||
Lessee, operating lease, term | 7 years | ||||
ASU 2016-02 | |||||
Lessee, Lease, Description [Line Items] | |||||
Cumulative effect of new accounting principle in period of adoption | $ 5,781 | $ 5,800 | |||
United Kingdom | |||||
Lessee, Lease, Description [Line Items] | |||||
Lessee, operating lease, term | 25 years | ||||
Forecast | United Kingdom | |||||
Lessee, Lease, Description [Line Items] | |||||
Rent expense | $ 5,000 |
Summary of Significant Accou_21
Summary of Significant Accounting Policies - Supplemental Balance Sheet (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Accounting Policies [Abstract] | |||
Operating lease right-of-use assets | $ 1,869,101 | $ 1,825,721 | $ 0 |
Financing lease right-of-use assets, net of accumulated depreciation | 327,215 | 361,078 | |
Total | 2,196,316 | 2,186,799 | |
Current | |||
Operating lease liabilities | 223,249 | 209,911 | |
Financing lease liabilities | 46,582 | 50,437 | |
Total current lease liabilities | 269,831 | 260,348 | |
Long-term | |||
Operating lease liabilities | 1,728,686 | 1,685,771 | $ 0 |
Financing lease liabilities | 320,600 | 350,263 | |
Total long-term lease liabilities | 2,049,286 | 2,036,034 | |
Total | $ 2,319,117 | $ 2,296,382 | |
Operating lease, right-of-use asset, real estate assets, percent | 99.00% | ||
Operating lease, right-of-use asset, non-real estate assets, percent | 1.00% | ||
Finance lease, right-of-use asset, real estate assets, percent | 69.00% | ||
Finance lease, right-of-use asset, non-real estate assets, percent | 31.00% |
Summary of Significant Accou_22
Summary of Significant Accounting Policies - Leases Costs (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Lessee, Lease, Description [Line Items] | |
Operating lease cost | $ 459,619 |
Depreciation of financing lease right-of-use assets | 59,258 |
Interest expense for financing lease liabilities | 21,031 |
Total financing lease cost | 80,289 |
Variable lease costs | $ 105,922 |
Operating leases, Remaining Lease Term | 11 years |
Finance leases, Remaining Lease Term | 11 years 7 months 6 days |
Operating leases, Discount Rate | 7.10% |
Financing leases, Discount Rate | 5.70% |
Cost of Sales | |
Lessee, Lease, Description [Line Items] | |
Operating lease cost | $ 447,194 |
Selling, general and administrative expenses | |
Lessee, Lease, Description [Line Items] | |
Operating lease cost | $ 12,425 |
Summary of Significant Accou_23
Summary of Significant Accounting Policies - Estimated Future Lease Payments (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Leases, Operating [Abstract] | ||
2020 | $ 339,469 | |
2021 | 319,628 | |
2022 | 295,981 | |
2023 | 267,809 | |
2024 | 237,604 | |
Thereafter | 1,454,918 | |
Total minimum lease payments | 2,915,409 | |
Less amounts representing interest or imputed interest | (963,474) | |
Present value of lease obligations | 1,951,935 | |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | ||
2019 | $ 323,454 | |
2020 | 293,276 | |
2021 | 267,379 | |
2022 | 246,128 | |
2023 | 221,808 | |
Thereafter | 1,287,807 | |
Total minimum lease payments | 2,639,852 | |
Lessee, Finance Sublease, Description [Abstract] | ||
2019 | (7,525) | |
2020 | (7,695) | (7,200) |
2021 | (5,282) | (7,063) |
2022 | (4,996) | (6,694) |
2023 | (4,885) | (6,409) |
2024 | (3,543) | |
Thereafter | (7,691) | (6,279) |
Total minimum lease payments | (34,092) | (41,170) |
Finance Lease, Liability, Payment, Due [Abstract] | ||
2020 | 62,271 | |
2021 | 54,993 | |
2022 | 44,886 | |
2023 | 39,130 | |
2024 | 31,849 | |
Thereafter | 277,890 | |
Total minimum lease payments | 511,019 | |
Less amounts representing interest or imputed interest | (143,837) | |
Present value of lease obligations | $ 367,182 | 447,173 |
Capital Lease Obligations [Abstract] | ||
2019 | 80,513 | |
2020 | 71,335 | |
2021 | 61,269 | |
2022 | 52,832 | |
2023 | 44,722 | |
Thereafter | 377,750 | |
Capital Leases, Total minimum lease payments | 688,421 | |
Less amounts representing interest | (241,248) | |
Present value of lease obligations | $ 447,173 |
Summary of Significant Accou_24
Summary of Significant Accounting Policies - Supplemental Cash Flows (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Accounting Policies [Abstract] | |
Operating cash flows used in operating leases | $ 338,059 |
Operating cash flows used in financing leases (interest) | 21,031 |
Financing cash flows used in financing leases | 58,033 |
Operating lease modifications and reassessments | 108,023 |
New operating leases (including acquisitions) | 170,464 |
New financing leases, modifications and reassessments | $ 32,742 |
Summary of Significant Accou_25
Summary of Significant Accounting Policies - Stock-Based Compensation (Details) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($)offering_period$ / sharesshares | Dec. 31, 2018USD ($)$ / sharesshares | Dec. 31, 2017USD ($)$ / sharesshares | |
Employee stock-based awards | |||
Contractual term of awards | 3 years | ||
Stock-based compensation | $ | $ 35,654 | $ 31,167 | $ 30,019 |
Stock-based compensation expense (income), net of tax | $ | $ 33,103 | $ 28,998 | $ 26,512 |
Stock-based compensation expense per basic and diluted share (in dollars per share) | $ / shares | $ 0.12 | $ 0.10 | $ 0.10 |
Certain options as a percentage of total outstanding options | 100.00% | ||
Total amount of shares of common stock reserved and available for issuance pursuant to awards granted under the 2014 Plan (in shares) | 48,253,839 | ||
Summary of option activity | |||
Options outstanding balance, end of period (in shares) | 4,835,721 | ||
Employee Stock Purchase Plan | |||
Employee stock purchase plan, shares available for grant | 4,095,067 | ||
Employee stock-based awards, unrecognized compensation costs on nonvested awards | $ | $ 39,696 | ||
Employee stock-based awards, weighted average recognition period | 1 year 9 months 18 days | ||
Tranche Two | |||
Employee stock-based awards | |||
Certain options as a percentage of total outstanding options | 3.00% | ||
Summary of option activity | |||
Options outstanding balance, end of period (in shares) | 144,400 | ||
Tranche One | |||
Employee stock-based awards | |||
Certain options as a percentage of total outstanding options | 97.00% | ||
Summary of option activity | |||
Options outstanding balance, end of period (in shares) | 4,691,321 | ||
Performance Units Original Awards | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options | |||
Non-vested at the beginning of the period (in shares) | 967,049 | ||
Granted (in shares) | 380,856 | ||
Vested (in shares) | (206,279) | ||
Forfeited (in shares) | (27,935) | ||
Non-vested at the end of the period (in shares) | 1,113,691 | 967,049 | |
Restricted Stock Units (RSUs) | |||
Dividends accrued and paid | |||
Accrued cash dividends | $ | $ 3,215 | $ 2,899 | $ 2,590 |
Cash dividends paid | $ | 2,369 | 2,477 | 2,370 |
Total fair value of shares or units vested | $ | $ 21,191 | $ 20,454 | 19,825 |
PUs Adjustment | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options | |||
Non-vested at the beginning of the period (in shares) | (299,948) | ||
Granted (in shares) | 0 | ||
Vested (in shares) | 0 | ||
Forfeited (in shares) | (14,850) | ||
Non-vested at the end of the period (in shares) | (314,798) | (299,948) | |
Performance Shares | |||
Dividends accrued and paid | |||
Accrued cash dividends | $ | $ 2,260 | $ 1,804 | 1,290 |
Cash dividends paid | $ | 1,162 | 644 | 205 |
Total fair value of shares or units vested | $ | $ 6,503 | $ 3,117 | $ 1,242 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options | |||
Non-vested at the beginning of the period (in shares) | 667,101 | ||
Granted (in shares) | 380,856 | ||
Vested (in shares) | (206,279) | ||
Forfeited (in shares) | (42,785) | ||
Non-vested at the end of the period (in shares) | 798,893 | 667,101 | |
Weighted average grant date fair value | |||
Weighted average grant date fair value, non-vested, beginning of period (in dollars per share) | $ / shares | $ 36.54 | ||
Weighted average grant date fair value, granted (in dollars per share) | $ / shares | 36.07 | ||
Weighted average grant date fair value, vested (in dollars per share) | $ / shares | 37.97 | ||
Weighted average grant date fair value, forfeited (in dollars per share) | $ / shares | 26.50 | ||
Weighted average grant date fair value, non-vested, end of period (in dollars per share) | $ / shares | $ 36.56 | $ 36.54 | |
Performance units disclosure | |||
Period of anniversary from the date of grant | 3 years | ||
Qualifying age for grant of performance units | 55 years | ||
Qualifying service period | 10 years | ||
Performance Shares | Two Thousand Sixteen | |||
Performance units disclosure | |||
Percentage of achievement of the predefined revenue and ROIC targets | 100.00% | ||
Performance Shares | Two Thousand Seventeen | |||
Performance units disclosure | |||
Percentage of achievement of the predefined revenue and ROIC targets | 50.00% | ||
Performance Shares | Two Thousand Eighteen | |||
Performance units disclosure | |||
Percentage of achievement of the predefined revenue and ROIC targets | 100.00% | ||
Performance Shares | Revenue or revenue growth and return on invested capital | |||
Performance units disclosure | |||
Performance period | 3 years | ||
Performance Shares | Market condition associated with shareholder return of common stock | |||
Performance units disclosure | |||
Performance period | 3 years | ||
Performance Shares | Minimum | Predefined Targets Of Revenue And Return On Invested Capital Or Adjusted EBITDA | |||
Performance units disclosure | |||
Percentage payout rate | 0.00% | ||
Performance Shares | Minimum | Market condition associated with shareholder return of common stock | |||
Performance units disclosure | |||
Percentage payout rate | 0.00% | ||
Performance Shares | Maximum | Predefined Targets Of Revenue And Return On Invested Capital Or Adjusted EBITDA | |||
Performance units disclosure | |||
Percentage payout rate | 200.00% | ||
Performance Shares | Maximum | Market condition associated with shareholder return of common stock | |||
Performance units disclosure | |||
Percentage payout rate | 200.00% | ||
Employee Stock Purchase Plan | |||
Employee Stock Purchase Plan | |||
Employee stock purchase plan, number of offering periods | offering_period | 2 | ||
Employee stock purchase plan, duration of offering periods | 6 months | ||
Employee stock purchase plan, maximum employee subscription rate percent | 15.00% | ||
Percentage of market price for the purchase of shares | 95.00% | ||
Employee stock purchase plan, shares issued in period | 129,505 | 119,123 | 102,826 |
Employee stock purchase plan, shares available for grant | 376,140 | ||
Three Year Vesting Option | |||
Employee stock-based awards | |||
Contractual term of awards | 10 years | ||
Award vesting period | 3 years | ||
Five Year Vesting Option | |||
Employee stock-based awards | |||
Contractual term of awards | 10 years | ||
Award vesting period | 5 years | ||
Stock And Cash Incentive Plan2014 | |||
Employee stock-based awards | |||
Total amount of shares of common stock reserved and available for issuance pursuant to awards granted under the 2014 Plan (in shares) | 12,750,000 | ||
Employee And Non Employees Stock Option | |||
Employee stock-based awards | |||
Weighted average fair value of options granted (in dollars per share) | $ / shares | $ 3.58 | $ 3.50 | $ 4.28 |
Weighted average assumptions used for grants | |||
Expected volatility (as a percent) | 24.30% | 25.40% | 25.70% |
Risk-free interest rate (as a percent) | 2.47% | 2.65% | 1.96% |
Expected dividend yield (as a percent) | 7.00% | 7.00% | 6.00% |
Expected life of the option | 5 years | 5 years | 5 years |
Summary of option activity | |||
Options outstanding balance, beginning of period (in shares) | 4,271,834 | ||
Options granted (in shares) | 920,706 | ||
Options exercised (in shares) | (303,543) | ||
Options forfeited (in shares) | (23,984) | ||
Options expired (in shares) | (29,292) | ||
Options outstanding balance, end of period (in shares) | 4,835,721 | 4,271,834 | |
Options exercisable balance (in shares) | 3,068,945 | ||
Options expected to vest (in shares) | 1,648,127 | ||
Weighted Average Exercise Price | |||
Weighted average exercise price, options outstanding balance beginning of period (in dollars per share) | $ / shares | $ 34.78 | ||
Weighted average exercise price, options granted (in dollars per share) | $ / shares | 35.71 | ||
Weighted average exercise price, options exercised (in dollars per share) | $ / shares | 23.86 | ||
Weighted average exercise price, options forfeited (in dollars per share) | $ / shares | 35.21 | ||
Weighted average exercise price, options expired (in dollars per share) | $ / shares | 34.78 | ||
Weighted average exercise price, options outstanding balance end of period (in dollars per share) | $ / shares | 35.64 | $ 34.78 | |
Weighted average exercise price, options exercisable (in dollars per share) | $ / shares | 35.80 | ||
Weighted average exercise price, options expected to vest (in dollars per share) | $ / shares | $ 35.34 | ||
Weighted average remaining contractual term | |||
Weighted average remaining contractual term, options outstanding | 6 years 8 months 19 days | ||
Weighted average remaining contractual term, options exercisable | 5 years 9 months 21 days | ||
Weighted average remaining contractual term, options expected to vest | 8 years 5 months 19 days | ||
Aggregate intrinsic value | |||
Aggregate intrinsic value, options outstanding | $ | $ 3,005 | ||
Aggregate intrinsic value, options exercisable | $ | 3,005 | ||
Aggregate intrinsic value, options expected to vest | $ | 0 | ||
Aggregate intrinsic value of stock options exercised | |||
Aggregate intrinsic value of stock options exercised | $ | $ 3,148 | $ 2,181 | $ 8,485 |
Restricted Stock And Restricted Stock Units | |||
Employee stock-based awards | |||
Award vesting period | 3 years | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options | |||
Non-vested at the beginning of the period (in shares) | 1,196,566 | ||
Granted (in shares) | 823,508 | ||
Vested (in shares) | (678,138) | ||
Forfeited (in shares) | (138,337) | ||
Non-vested at the end of the period (in shares) | 1,203,599 | 1,196,566 | |
Weighted average grant date fair value | |||
Weighted average grant date fair value, non-vested, beginning of period (in dollars per share) | $ / shares | $ 34.33 | ||
Weighted average grant date fair value, granted (in dollars per share) | $ / shares | 34.72 | ||
Weighted average grant date fair value, vested (in dollars per share) | $ / shares | 34.06 | ||
Weighted average grant date fair value, forfeited (in dollars per share) | $ / shares | 34.75 | ||
Weighted average grant date fair value, non-vested, end of period (in dollars per share) | $ / shares | $ 34.71 | $ 34.33 | |
Performance Units Original Awards | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options | |||
Granted (in shares) | 353,507 | 229,692 |
Summary of Significant Accou_26
Summary of Significant Accounting Policies - Income (Loss) Per Share - Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income (Loss) Per Share-Basic and Diluted | |||||||||||
Income (Loss) from Continuing Operations | $ 37,104 | $ 108,284 | $ 92,347 | $ 30,476 | $ 158,557 | $ 77,349 | $ 92,263 | $ 39,389 | $ 268,211 | $ 367,558 | $ 178,015 |
Less: Net income (loss) attributable to noncontrolling interests | 938 | 1,198 | 1,611 | ||||||||
Income (loss) from continuing operations (utilized in numerator of Earnings Per Share calculation) | 267,273 | 366,360 | 176,404 | ||||||||
Income (loss) from discontinued operations, net of tax | 0 | 0 | 128 | (24) | 0 | (11,605) | (360) | (462) | 104 | (12,427) | (6,291) |
Net Income (Loss) Attributable to Iron Mountain Incorporated | $ 37,700 | $ 107,675 | $ 92,441 | $ 29,561 | $ 157,844 | $ 65,869 | $ 91,761 | $ 38,459 | $ 267,377 | $ 353,933 | $ 170,113 |
Weighted-average shares—basic (in shares) | 286,971,000 | 285,913,000 | 265,898,000 | ||||||||
Effect of dilutive potential stock options (in shares) | 145,509 | 234,558 | 431,071 | ||||||||
Effect of dilutive potential RSUs and PUs (in shares) | 570,435 | 505,030 | 509,235 | ||||||||
Effect of Over-Allotment Option (in shares) | 0 | 0 | 6,278 | ||||||||
Weighted-average shares—diluted (in shares) | 287,686,944 | 286,652,588 | 266,844,584 | ||||||||
Earnings (losses) per share—basic: | |||||||||||
Income (loss) from continuing operations (in dollars per share) | $ 0.13 | $ 0.37 | $ 0.32 | $ 0.10 | $ 0.55 | $ 0.27 | $ 0.32 | $ 0.14 | $ 0.93 | $ 1.28 | $ 0.66 |
(Loss) income from discontinued operations, net of tax (in dollars per share) | 0 | 0 | 0 | 0 | 0 | (0.04) | 0 | 0 | 0 | (0.04) | (0.02) |
Net Income (Loss) Attributable to Iron Mountain Incorporated (in dollars per share) | 0.13 | 0.37 | 0.32 | 0.10 | 0.55 | 0.23 | 0.32 | 0.13 | 0.93 | 1.24 | 0.64 |
Earnings (losses) per share—diluted: | |||||||||||
Income (Loss) from Continuing Operations (in dollars per share) | 0.13 | 0.37 | 0.32 | 0.10 | 0.55 | 0.27 | 0.32 | 0.14 | 0.93 | 1.28 | 0.66 |
(Loss) income from discontinued operations, net of tax (in dollars per share) | 0 | 0 | 0 | 0 | 0 | (0.04) | 0 | 0 | 0 | (0.04) | (0.02) |
Net Income (Loss) Attributable to Iron Mountain Incorporated (in dollars per share) | $ 0.13 | $ 0.37 | $ 0.32 | $ 0.10 | $ 0.55 | $ 0.23 | $ 0.32 | $ 0.13 | $ 0.93 | $ 1.23 | $ 0.64 |
Antidilutive stock options, RSUs and PUs, excluded from the calculation (in shares) | 4,475,745 | 3,258,078 | 2,326,344 |
Summary of Significant Accou_27
Summary of Significant Accounting Policies - Allowance for Doubtful Accounts and Credit Memo Reserves (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Valuation Allowance [Line Items] | |||
The general period to charge-off uncollectible balances of receivable, as circumstances warrant, is no later than this period of time past due | 1 year | ||
SEC Schedule, 12-09, Allowance, Credit Loss | |||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at Beginning of the Year | $ 43,584 | $ 46,648 | $ 44,290 |
Credit Memos Charged to Revenue | 51,846 | 36,329 | 38,966 |
Allowance for Bad Debts Charged to Expense | 19,389 | 18,625 | 14,826 |
Deductions and Other | (71,963) | (58,018) | (51,434) |
Balance at End of the Year | $ 42,856 | $ 43,584 | $ 46,648 |
Summary of Significant Accou_28
Summary of Significant Accounting Policies - Concentration of Credit Risk (Details) | 12 Months Ended | |
Dec. 31, 2019USD ($)fund | Dec. 31, 2018USD ($)bank | |
Cash and Cash Equivalents [Line Items] | ||
Number of "Triple A" rated money market funds with cash, cash equivalent and restricted cash held on deposit | fund | 7 | |
Money market funds | $ 13,653,000 | $ 0 |
Number of global banks with cash, cash equivalent and restricted cash held on deposit | bank | 7 | |
Maximum investment limit in any one financial institution | 75,000,000 | |
Cash and cash equivalents | $ 193,555,000 | $ 165,485,000 |
Investment in single mutual fund | Credit Concentration Risk | ||
Cash and Cash Equivalents [Line Items] | ||
Concentration risk percentage | 1.00% |
Summary of Significant Accou_29
Summary of Significant Accounting Policies - Fair Value Measurements (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Assets and liabilities carried at fair value measured on a recurring basis | ||
Money Market Funds | $ 13,653,000 | $ 0 |
Fair Value, Measurements, Recurring | Quoted prices in active markets (Level 1) | ||
Assets and liabilities carried at fair value measured on a recurring basis | ||
Money Market Funds | 0 | 0 |
Trading Securities | 10,168,000 | 10,248,000 |
Derivative Assets | 0 | |
Derivative Liabilities | 0 | 0 |
Fair Value, Measurements, Recurring | Significant other observable inputs (Level 2) | ||
Assets and liabilities carried at fair value measured on a recurring basis | ||
Money Market Funds | 13,653,000 | 956,000 |
Trading Securities | 564,000 | 505,000 |
Derivative Assets | 93,000 | |
Derivative Liabilities | 9,756,000 | 973,000 |
Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) | ||
Assets and liabilities carried at fair value measured on a recurring basis | ||
Money Market Funds | 0 | 0 |
Trading Securities | 0 | 0 |
Derivative Assets | 0 | |
Derivative Liabilities | 0 | 0 |
Fair Value, Measurements, Recurring | Estimated Fair Value | ||
Assets and liabilities carried at fair value measured on a recurring basis | ||
Money Market Funds | 13,653,000 | 956,000 |
Trading Securities | 10,732,000 | 10,753,000 |
Derivative Assets | 93,000 | |
Derivative Liabilities | $ 9,756,000 | $ 973,000 |
Summary of Significant Accou_30
Summary of Significant Accounting Policies - Accumulated Other Comprehensive Income, Other Expenses, and Change in Accounting Pronouncements (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Other comprehensive loss: | |||
Stockholders' equity, beginning balance | $ 1,862,463,000 | $ 2,285,134,000 | $ 1,936,671,000 |
Other comprehensive (loss) income: | |||
Stockholders' equity, ending balance | 1,464,227,000 | 1,862,463,000 | 2,285,134,000 |
Foreign Currency Translation Adjustment | |||
Other comprehensive loss: | |||
Stockholders' equity, beginning balance | (264,691,000) | (103,989,000) | (212,573,000) |
Other comprehensive (loss) income: | |||
Foreign currency translation adjustment | 11,866,000 | (160,702,000) | 108,584,000 |
Change in fair value of derivative instruments | 0 | 0 | |
Total other comprehensive (loss) income | 11,866,000 | (160,702,000) | 108,584,000 |
Stockholders' equity, ending balance | (252,825,000) | (264,691,000) | (103,989,000) |
Change in Fair Value of Derivative Instruments | |||
Other comprehensive loss: | |||
Stockholders' equity, beginning balance | 0 | 0 | |
Other comprehensive (loss) income: | |||
Foreign currency translation adjustment | 0 | ||
Total other comprehensive (loss) income | 0 | ||
Stockholders' equity, ending balance | 0 | ||
Change in Fair Value of Derivative Instruments | |||
Other comprehensive loss: | |||
Stockholders' equity, beginning balance | (973,000) | ||
Other comprehensive (loss) income: | |||
Foreign currency translation adjustment | 0 | 0 | |
Change in fair value of derivative instruments | (8,783,000) | (973,000) | |
Total other comprehensive (loss) income | (8,783,000) | (973,000) | |
Stockholders' equity, ending balance | (9,756,000) | (973,000) | |
Total | |||
Other comprehensive loss: | |||
Stockholders' equity, beginning balance | (265,664,000) | (103,989,000) | (212,573,000) |
Other comprehensive (loss) income: | |||
Foreign currency translation adjustment | 11,866,000 | (160,702,000) | 108,584,000 |
Change in fair value of derivative instruments | (8,783,000) | (973,000) | |
Total other comprehensive (loss) income | 3,083,000 | (161,675,000) | 108,584,000 |
Stockholders' equity, ending balance | $ (262,581,000) | $ (265,664,000) | (103,989,000) |
Disposal Group, Not Discontinued Operations | Russia and Ukraine Divestment | |||
Other comprehensive (loss) income: | |||
Cumulative translation adjustment | $ 29,100,000 |
Summary of Significant Accou_31
Summary of Significant Accounting Policies - Other Expense (Income), Net (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Foreign currency transaction losses (gains), net | $ 24,852 | $ (15,567) | $ 43,248 | |
Debt extinguishment expense, net | 0 | 0 | 78,368 | |
Other, net | 9,046 | 3,875 | (42,187) | |
Other Expense (Income), Net | 33,898 | (11,692) | 79,429 | |
Gain on divestiture | $ 0 | $ 0 | 38,869 | |
Disposal Group, Not Discontinued Operations | Russia and Ukraine Divestment | ||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
Gain on divestiture | $ 38,869 | $ 38,869 |
Summary of Significant Accou_32
Summary of Significant Accounting Policies - Schedule of Effect of Changes in Presentation (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||||||
Selling, general and administrative | $ 991,664 | $ 1,006,983 | $ 937,180 | ||||||||
Significant Acquisition Costs | 13,293 | 50,665 | 84,901 | ||||||||
(Gain) Loss on disposal/write-down of property, plant and equipment, net | $ 37,500 | ||||||||||
Total Operating Expenses | 3,481,246 | 3,417,494 | 3,211,527 | ||||||||
Operating Income (Loss) | $ 206,074 | $ 223,474 | $ 193,115 | $ 158,675 | $ 254,053 | $ 195,635 | $ 201,460 | $ 157,119 | 781,338 | 808,267 | 634,051 |
Provision (Benefit) for Income Taxes | $ 59,931 | 42,753 | 22,962 | ||||||||
Restatement | |||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||||||
Selling, general and administrative | 11,045 | 16,623 | |||||||||
Total Operating Expenses | 11,045 | 16,623 | |||||||||
Operating Income (Loss) | (11,045) | (16,623) | |||||||||
Income (Loss) from Continuing Operations Before Provision (Benefit) for Income Taxes | (11,404) | (16,693) | |||||||||
Provision (Benefit) for Income Taxes | (1,986) | (2,985) | |||||||||
Correction In Presentation | Restatement | |||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||||||
Cost of sales (excluding depreciation and amortization) | (7,628) | (20,493) | |||||||||
Selling, general and administrative | (43,037) | (64,408) | |||||||||
Significant Acquisition Costs | 50,665 | 84,901 | |||||||||
(Gain) Loss on disposal/write-down of property, plant and equipment, net | (63,804) | (1,565) | |||||||||
Total Operating Expenses | (63,804) | (1,565) | |||||||||
Operating Income (Loss) | 63,804 | 1,565 | |||||||||
Income (Loss) from Continuing Operations Before Provision (Benefit) for Income Taxes | 63,804 | 1,565 | |||||||||
Provision (Benefit) for Income Taxes | 8,476 | 0 | |||||||||
Gain on Sale of Real Estate, Net of tax | 55,328 | 1,565 | |||||||||
Correction In Presentation | Restatement | Significant Acquisition Costs | |||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||||||
Cost of sales (excluding depreciation and amortization) | (7,628) | (20,493) | |||||||||
Selling, general and administrative | (43,037) | (64,408) | |||||||||
Significant Acquisition Costs | 50,665 | 84,901 | |||||||||
(Gain) Loss on disposal/write-down of property, plant and equipment, net | 0 | 0 | |||||||||
Total Operating Expenses | 0 | 0 | |||||||||
Operating Income (Loss) | 0 | 0 | |||||||||
Income (Loss) from Continuing Operations Before Provision (Benefit) for Income Taxes | 0 | 0 | |||||||||
Provision (Benefit) for Income Taxes | 0 | 0 | |||||||||
Gain on Sale of Real Estate, Net of tax | 0 | 0 | |||||||||
Correction In Presentation | Restatement | Gain on Sale of Real Estate | |||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||||||
Cost of sales (excluding depreciation and amortization) | 0 | 0 | |||||||||
Selling, general and administrative | 0 | 0 | |||||||||
Significant Acquisition Costs | 0 | 0 | |||||||||
(Gain) Loss on disposal/write-down of property, plant and equipment, net | (63,804) | (1,565) | |||||||||
Total Operating Expenses | (63,804) | (1,565) | |||||||||
Operating Income (Loss) | 63,804 | 1,565 | |||||||||
Income (Loss) from Continuing Operations Before Provision (Benefit) for Income Taxes | 63,804 | 1,565 | |||||||||
Provision (Benefit) for Income Taxes | 8,476 | 0 | |||||||||
Gain on Sale of Real Estate, Net of tax | $ 55,328 | $ 1,565 |
Summary of Significant Accou_33
Summary of Significant Accounting Policies - Immaterial Restatement Narrative (Details) (Details) € in Thousands, $ in Thousands | Dec. 31, 2019USD ($) | Jun. 30, 2019EUR (€) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) |
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||
(Distributions in excess of earnings) Earnings in excess of distributions | $ (2,574,896) | $ (2,139,493) | ||
Tax and Customs Administration, Netherlands | Foreign | ||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||
VAT liability | € 16,800 | 4,971 | ||
Restatement | ||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||
(Distributions in excess of earnings) Earnings in excess of distributions | $ (23,126) | $ (13,708) |
Summary of Significant Accou_34
Summary of Significant Accounting Policies - Immaterial Restatements (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||||||
Selling, general and administrative | $ 991,664 | $ 1,006,983 | $ 937,180 | ||||||||
Total Operating Expenses | 3,481,246 | 3,417,494 | 3,211,527 | ||||||||
Operating Income (Loss) | $ 206,074 | $ 223,474 | $ 193,115 | $ 158,675 | $ 254,053 | $ 195,635 | $ 201,460 | $ 157,119 | 781,338 | 808,267 | 634,051 |
Interest Expense, Net | (419,298) | (409,648) | (353,645) | ||||||||
Provision (Benefit) for Income Taxes | 59,931 | 42,753 | 22,962 | ||||||||
Income (Loss) from Continuing Operations | 37,104 | 108,284 | 92,347 | 30,476 | 158,557 | 77,349 | 92,263 | 39,389 | 268,211 | 367,558 | 178,015 |
Net Income (Loss) | 37,104 | 108,284 | 92,475 | 30,452 | 158,557 | 65,744 | 91,903 | 38,927 | 268,315 | 355,131 | 171,724 |
Net income (loss) attributable to Iron Mountain Incorporated | $ 37,700 | $ 107,675 | $ 92,441 | $ 29,561 | $ 157,844 | $ 65,869 | $ 91,761 | $ 38,459 | $ 267,377 | $ 353,933 | $ 170,113 |
Income (Loss) from Continuing Operations (in dollars per share) | $ 0.13 | $ 0.37 | $ 0.32 | $ 0.10 | $ 0.55 | $ 0.27 | $ 0.32 | $ 0.14 | $ 0.93 | $ 1.28 | $ 0.66 |
Net Income (Loss) Attributable to Iron Mountain Incorporated (in dollars per share) | 0.13 | 0.37 | 0.32 | 0.10 | 0.55 | 0.23 | 0.32 | 0.13 | 0.93 | 1.24 | 0.64 |
Income (Loss) from Continuing Operations (in dollars per share) | 0.13 | 0.37 | 0.32 | 0.10 | 0.55 | 0.27 | 0.32 | 0.14 | 0.93 | 1.28 | 0.66 |
Net Income (Loss) Attributable to Iron Mountain Incorporated (in dollars per share) | $ 0.13 | $ 0.37 | $ 0.32 | $ 0.10 | $ 0.55 | $ 0.23 | $ 0.32 | $ 0.13 | $ 0.93 | $ 1.23 | $ 0.64 |
Total Other Assets, Net | $ 7,957,440 | $ 6,159,547 | $ 7,957,440 | $ 6,159,547 | |||||||
Total Assets | 13,816,816 | 11,857,218 | 13,816,816 | 11,857,218 | $ 10,975,387 | ||||||
Accrued expenses and other current liabilities | 961,752 | 780,781 | 961,752 | 780,781 | |||||||
Total Current Liabilities | 1,949,509 | 1,490,775 | 1,949,509 | 1,490,775 | |||||||
(Distribution in excess of earnings) Earnings in excess of distributions | (2,574,896) | (2,139,493) | (2,574,896) | (2,139,493) | |||||||
Total Iron Mountain Incorporated Stockholders' Equity | $ 1,463,962 | 1,861,054 | $ 1,463,962 | 1,861,054 | |||||||
Restatement | |||||||||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||||||||
Selling, general and administrative | 11,045 | 16,623 | |||||||||
Total Operating Expenses | 11,045 | 16,623 | |||||||||
Operating Income (Loss) | (11,045) | (16,623) | |||||||||
Interest Expense, Net | 359 | 70 | |||||||||
Income (Loss) from Continuing Operations Before Provision (Benefit) for Income Taxes | (11,404) | (16,693) | |||||||||
Provision (Benefit) for Income Taxes | (1,986) | (2,985) | |||||||||
Income (Loss) from Continuing Operations | (9,418) | (13,708) | |||||||||
Net Income (Loss) | (9,418) | (13,708) | |||||||||
Net income (loss) attributable to Iron Mountain Incorporated | $ (9,418) | $ (13,708) | |||||||||
Income (Loss) from Continuing Operations (in dollars per share) | $ (0.03) | $ (0.05) | |||||||||
Net Income (Loss) Attributable to Iron Mountain Incorporated (in dollars per share) | (0.03) | (0.05) | |||||||||
Income (Loss) from Continuing Operations (in dollars per share) | (0.03) | (0.05) | |||||||||
Net Income (Loss) Attributable to Iron Mountain Incorporated (in dollars per share) | $ (0.03) | $ (0.05) | |||||||||
Total Other Assets, Net | 4,971 | $ 4,971 | |||||||||
Total Assets | 4,971 | 4,971 | |||||||||
Accrued expenses and other current liabilities | 28,097 | 28,097 | |||||||||
Total Current Liabilities | 28,097 | 28,097 | |||||||||
(Distribution in excess of earnings) Earnings in excess of distributions | (23,126) | (23,126) | $ (13,708) | ||||||||
Total Iron Mountain Incorporated Stockholders' Equity | $ (23,126) | $ (23,126) |
Derivative Instruments and He_3
Derivative Instruments and Hedging Activities - Interest Rate Swap Agreements (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Jul. 31, 2019 | |
Derivative [Line Items] | |||
Unrealized losses | $ 8,783,000 | $ 973,000 | |
Interest Rate Swap | |||
Derivative [Line Items] | |||
Notional amount of derivatives | 350,000,000 | 350,000,000 | $ 350,000,000 |
Unrealized losses | 7,801,000 | 973,000 | |
Cumulative unrealized losses within accumulated other comprehensive items, net | 8,774,000 | ||
Interest Rate Swap | Other Noncurrent Liabilities | |||
Derivative [Line Items] | |||
Derivative liability | $ 8,774,000 | $ 973,000 |
Derivative Instruments and He_4
Derivative Instruments and Hedging Activities - Net Investment Hedges (Details) - Cross-currency swap agreements - Net Investment Hedging € in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($) | Aug. 31, 2019USD ($) | Aug. 31, 2019EUR (€) | |
Derivative [Line Items] | |||
Notional amount | $ 110,000 | € 99,055 | |
Interest rate | 6.00% | 6.00% | |
Weighted average interest rate | 3.65% | 3.65% | |
Unrealized losses | $ (982) | ||
Other Noncurrent Liabilities | |||
Derivative [Line Items] | |||
Derivative liability | $ 982 |
Derivative Instruments and He_5
Derivative Instruments and Hedging Activities - Hedge of Net Investment (Details) (Details) - Euro Notes - Designated Hedging Instruments - Net Investment Hedging € in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019USD ($) | Dec. 31, 2019EUR (€) | Dec. 31, 2018EUR (€) | Dec. 31, 2017EUR (€) | |
Derivative [Line Items] | ||||
Hedged notes | € | € 284,986 | € 224,424 | € 103,682 | |
Cumulative net gains | $ | $ 20,261 |
Derivative Instruments and He_6
Derivative Instruments and Hedging Activities - Schedule of Foreign Exchange Gains Related to Fair of Debt (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||
Foreign exchange gains (losses) | $ 6,003 | $ 11,070 | $ (15,015) |
Derivative Instruments and He_7
Derivative Instruments and Hedging Activities - Forward Currency Contracts (Details) - Not Designated as Hedging Instrument - Foreign Exchange Currency Forward Contracts € in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2018EUR (€) |
Derivative [Line Items] | |||
Notional amount | $ 0 | ||
Purchase | |||
Derivative [Line Items] | |||
Notional amount | € | € 29,000 | ||
Sell | |||
Derivative [Line Items] | |||
Notional amount | $ 33,374,000 | ||
Prepaid expenses and other | |||
Derivative [Line Items] | |||
Derivative assets | $ 93,000 |
Derivative Instruments and He_8
Derivative Instruments and Hedging Activities - Net Cash (Receipts) Payments Included In Cash From Operating Activities (Details) - Foreign exchange contracts - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Derivative [Line Items] | |||
Net payments | $ 737 | $ 5,797 | |
Net receipts | $ (9,073) |
Derivative Instruments and He_9
Derivative Instruments and Hedging Activities - Amount of (Gains) Losses in Income on Derivatives (Details) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Foreign exchange contracts | Derivatives Not Designated as Hedging Instruments | |||
Derivative [Line Items] | |||
Foreign exchange contracts, other expense (income), net | $ 737 | $ 4,954 | $ (8,292) |
Debt - Schedule of Long Term De
Debt - Schedule of Long Term Debt (Details) $ in Thousands, $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2019AUD ($) | Sep. 30, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2018AUD ($) | Mar. 27, 2018AUD ($) | Sep. 30, 2017USD ($) | Aug. 21, 2017USD ($) | Sep. 28, 2016AUD ($) |
Debt Instrument [Line Items] | |||||||||
Debt (inclusive of discount) | $ 8,751,544 | $ 8,229,430 | |||||||
Unamortized Deferred Financing Costs | (86,965) | (86,607) | |||||||
Total Long-term Debt (including current portion) | 8,664,579 | 8,142,823 | |||||||
Debt, current portion | (389,013) | (126,406) | |||||||
Unamortized deferred financing costs, current portion | 0 | 0 | |||||||
Carrying amount, current portion | (389,013) | (126,406) | |||||||
Long-term debt, net of current portion | 8,362,531 | 8,103,024 | |||||||
Unamortized deferred financing costs | (86,965) | (86,607) | |||||||
Long-term debt, net of current portion | $ 8,275,566 | 8,016,417 | |||||||
Capital stock of subsidiaries pledged to secure debt (as a percent) | 66.00% | 66.00% | |||||||
Unamortized original issue discount | $ 2,587 | ||||||||
Capital lease obligations | 367,182 | 447,173 | |||||||
Revolving Credit Facility | New Credit Agreement | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt (inclusive of discount) | 348,808 | 793,832 | |||||||
Unamortized Deferred Financing Costs | (12,053) | (14,117) | |||||||
Total Long-term Debt (including current portion) | 336,755 | 779,715 | |||||||
Fair Value | 348,808 | 793,832 | |||||||
Revolving Credit Facility | UK Bilateral Revolving Credit Facility | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt (inclusive of discount) | 184,601 | 178,299 | |||||||
Unamortized Deferred Financing Costs | (1,801) | (2,357) | |||||||
Total Long-term Debt (including current portion) | 182,800 | 175,942 | |||||||
Fair Value | 184,601 | 178,299 | |||||||
Term Loan Facility | New Credit Agreement | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt (inclusive of discount) | $ 250,000 | ||||||||
Term Loan Facility | Term Loan A | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt (inclusive of discount) | 228,125 | 240,625 | |||||||
Unamortized Deferred Financing Costs | 0 | 0 | |||||||
Total Long-term Debt (including current portion) | 228,125 | 240,625 | |||||||
Fair Value | 228,125 | 240,625 | |||||||
Term Loan Facility | Term Loan B | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt (inclusive of discount) | 686,395 | 693,169 | |||||||
Unamortized Deferred Financing Costs | (7,493) | (8,742) | |||||||
Total Long-term Debt (including current portion) | 678,902 | 684,427 | |||||||
Fair Value | 686,890 | 660,013 | |||||||
Unamortized original issue discount | 1,355 | 1,581 | |||||||
Australian Dollar Term Loan | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt (inclusive of discount) | 226,924 | 233,955 | $ 350,000 | $ 250,000 | |||||
Unamortized Deferred Financing Costs | (2,313) | (3,084) | |||||||
Total Long-term Debt (including current portion) | 224,611 | 230,871 | |||||||
Fair Value | 228,156 | $ 325,313 | 235,645 | $ 334,063 | |||||
Unamortized original issue discount | 1,232 | 1,690 | |||||||
Senior Notes 4.375 Percent due 2021 | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt (inclusive of discount) | 500,000 | 500,000 | |||||||
Unamortized Deferred Financing Costs | (2,436) | (4,155) | |||||||
Total Long-term Debt (including current portion) | 497,564 | 495,845 | |||||||
Fair Value | $ 503,450 | 488,750 | |||||||
Stated interest rate (as a percent) | 4.375% | 4.375% | |||||||
Senior Notes 6 Percent Due 2023 | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt (inclusive of discount) | $ 600,000 | 600,000 | |||||||
Unamortized Deferred Financing Costs | (4,027) | (5,126) | |||||||
Total Long-term Debt (including current portion) | 595,973 | 594,874 | |||||||
Fair Value | $ 613,500 | 606,000 | |||||||
Stated interest rate (as a percent) | 6.00% | 6.00% | |||||||
CAD 5.375 Percent Senior Notes due 2023 | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt (inclusive of discount) | $ 192,058 | 183,403 | |||||||
Unamortized Deferred Financing Costs | (2,071) | (2,506) | |||||||
Total Long-term Debt (including current portion) | 189,987 | 180,897 | |||||||
Fair Value | $ 199,380 | 186,154 | |||||||
Stated interest rate (as a percent) | 5.375% | 5.375% | |||||||
Senior Subordinated Notes 5.75 Percent due 2024 | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt (inclusive of discount) | $ 1,000,000 | 1,000,000 | |||||||
Unamortized Deferred Financing Costs | (6,409) | (7,782) | |||||||
Total Long-term Debt (including current portion) | 993,591 | 992,218 | |||||||
Fair Value | $ 1,010,625 | 940,000 | |||||||
Stated interest rate (as a percent) | 5.75% | 5.75% | |||||||
Euro Senior Notes 3 Percent due 2025 | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt (inclusive of discount) | $ 336,468 | 343,347 | |||||||
Unamortized Deferred Financing Costs | (3,462) | (4,098) | |||||||
Total Long-term Debt (including current portion) | 333,006 | 339,249 | |||||||
Fair Value | $ 345,660 | 321,029 | |||||||
Stated interest rate (as a percent) | 3.00% | 3.00% | |||||||
GBP Senior Notes 3.875 Percent due 2025 | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt (inclusive of discount) | $ 527,432 | 509,425 | |||||||
Unamortized Deferred Financing Costs | (5,809) | (6,573) | |||||||
Total Long-term Debt (including current portion) | 521,623 | 502,852 | |||||||
Fair Value | $ 539,892 | 453,811 | |||||||
Stated interest rate (as a percent) | 3.875% | 3.875% | |||||||
Senior Notes 5.375 Percent due 2026 | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt (inclusive of discount) | $ 250,000 | 250,000 | |||||||
Unamortized Deferred Financing Costs | (2,756) | (3,185) | |||||||
Total Long-term Debt (including current portion) | 247,244 | 246,815 | |||||||
Fair Value | $ 261,641 | 224,375 | |||||||
Stated interest rate (as a percent) | 5.375% | 5.375% | |||||||
Senior Notes 4.875 Percent due 2027 | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt (inclusive of discount) | $ 1,000,000 | 1,000,000 | $ 1,000,000 | ||||||
Unamortized Deferred Financing Costs | (11,020) | (12,442) | |||||||
Total Long-term Debt (including current portion) | 988,980 | 987,558 | |||||||
Fair Value | $ 1,029,475 | 855,000 | |||||||
Stated interest rate (as a percent) | 4.875% | 4.875% | |||||||
Senior Notes 4.875 Percent due 2029 | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt (inclusive of discount) | $ 825,000 | 825,000 | |||||||
Unamortized Deferred Financing Costs | (9,742) | (10,923) | |||||||
Total Long-term Debt (including current portion) | 815,258 | 814,077 | |||||||
Fair Value | $ 859,598 | 713,625 | |||||||
Stated interest rate (as a percent) | 5.25% | 5.25% | |||||||
Senior Notes 4.875 Percent due 2029 | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt (inclusive of discount) | $ 1,000,000 | $ 1,000,000 | 0 | ||||||
Unamortized Deferred Financing Costs | (14,104) | 0 | |||||||
Total Long-term Debt (including current portion) | 985,896 | 0 | |||||||
Fair Value | $ 1,015,640 | 0 | |||||||
Stated interest rate (as a percent) | 4.875% | 4.875% | |||||||
Real Estate Mortgages, Capital Leases and Other | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt (inclusive of discount) | $ 523,671 | 606,702 | |||||||
Unamortized Deferred Financing Costs | (406) | (171) | |||||||
Total Long-term Debt (including current portion) | 523,265 | 606,531 | |||||||
Fair Value | 523,671 | 606,702 | |||||||
Accounts Receivable Securitization Program | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt (inclusive of discount) | 272,062 | 221,673 | |||||||
Unamortized Deferred Financing Costs | (81) | (218) | |||||||
Total Long-term Debt (including current portion) | 271,981 | 221,455 | |||||||
Fair Value | 272,062 | 221,673 | |||||||
Mortgage Securitization Program | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt (inclusive of discount) | 50,000 | 50,000 | |||||||
Unamortized Deferred Financing Costs | (982) | (1,128) | |||||||
Total Long-term Debt (including current portion) | 49,018 | 48,872 | |||||||
Fair Value | $ 50,000 | 50,000 | |||||||
Credit Agreement | |||||||||
Debt Instrument [Line Items] | |||||||||
Capital stock of subsidiaries pledged to secure debt (as a percent) | 66.00% | 66.00% | |||||||
Mortgages | |||||||||
Debt Instrument [Line Items] | |||||||||
Total Long-term Debt (including current portion) | $ 27,036 | $ 18,576 | |||||||
Stated interest rate (as a percent) | 3.90% | 3.90% | 4.10% | 4.10% | |||||
Capital Lease Obligations | |||||||||
Debt Instrument [Line Items] | |||||||||
Weighted average interest rate (as a percent) | 5.70% | 5.70% | 5.70% | 5.70% | |||||
Other Notes And Obligations | |||||||||
Debt Instrument [Line Items] | |||||||||
Total Long-term Debt (including current portion) | $ 129,453 | $ 140,953 | |||||||
Weighted average interest rate (as a percent) | 10.80% | 10.80% | 11.10% | 11.10% |
Debt - New Credit Agreement Nar
Debt - New Credit Agreement Narrative (Details) € in Thousands, $ in Thousands, $ in Thousands | Jun. 04, 2018 | Aug. 21, 2017USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2019EUR (€) | Dec. 31, 2019CAD ($) | Dec. 31, 2018USD ($) | Mar. 26, 2018 | Mar. 22, 2018USD ($) |
Debt Instrument [Line Items] | ||||||||
Debt | $ 8,751,544 | $ 8,229,430 | ||||||
New Credit Agreement | ||||||||
Debt Instrument [Line Items] | ||||||||
Average interest rate | 3.30% | 3.30% | 3.30% | |||||
Revolving Credit Facility | ||||||||
Debt Instrument [Line Items] | ||||||||
Letters of credit outstanding | $ 4,853 | |||||||
Period of earnings before interest, taxes, depreciation, amortization and rent expense (EBITDAR) for calculation of remaining borrowing capacity | 12 months | |||||||
Remaining amount available for borrowing under credit facility | $ 1,396,339 | |||||||
Revolving Credit Facility | New Credit Agreement | ||||||||
Debt Instrument [Line Items] | ||||||||
Maximum borrowing capacity | $ 1,750,000 | |||||||
Debt | $ 348,808 | 793,832 | ||||||
Optional additional commitments | 500,000 | $ 1,260,000 | ||||||
Reduction in interest rate | 0.25% | |||||||
Average interest rate | 3.20% | 3.20% | 3.20% | |||||
Term Loan Facility | New Credit Agreement | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt | 250,000 | |||||||
Amount of quarterly installments based on the original principal | $ 3,125 | |||||||
Term Loan Facility | Term Loan A | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt | $ 228,125 | 240,625 | ||||||
Average interest rate | 3.50% | 3.50% | 3.50% | |||||
Term Loan Facility | Term Loan B | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt | $ 686,395 | $ 693,169 | ||||||
USD | Term Loan Facility | New Credit Agreement | ||||||||
Debt Instrument [Line Items] | ||||||||
Carrying amount on long-term debt | $ 257,800 | |||||||
CAD | Term Loan Facility | New Credit Agreement | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt | $ 44,300 | |||||||
Euro | Term Loan Facility | New Credit Agreement | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt | € | € 50,800 | |||||||
Minimum | New Credit Agreement | ||||||||
Debt Instrument [Line Items] | ||||||||
Commitment fee percentage | 0.25% | |||||||
Maximum | New Credit Agreement | ||||||||
Debt Instrument [Line Items] | ||||||||
Commitment fee percentage | 0.40% | |||||||
Term Loan Facility | Loans Payable | Term Loan B | ||||||||
Debt Instrument [Line Items] | ||||||||
Maximum borrowing capacity | $ 700,000 | |||||||
Par | 99.75% | |||||||
Proceeds from issuance of debt | $ 689,850 | |||||||
Quarterly payment amount | $ 1,750 | |||||||
Stated interest rate (as a percent) | 3.60% | 3.60% | 3.60% | 1.75% |
Debt - Notes Issued Under Inden
Debt - Notes Issued Under Indentures Narrative (Details) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||||||
Sep. 30, 2019USD ($) | Dec. 31, 2017USD ($) | Nov. 30, 2017USD ($) | Nov. 30, 2017GBP (£) | Sep. 30, 2017USD ($) | Aug. 31, 2017USD ($) | May 30, 2017USD ($) | May 30, 2017EUR (€) | Dec. 31, 2017USD ($) | Sep. 30, 2017USD ($) | Dec. 31, 2019USD ($)debt_instrument | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2019EUR (€)debt_instrument | Dec. 31, 2019CAD ($)debt_instrument | Dec. 31, 2019GBP (£)debt_instrument | Aug. 31, 2017CAD ($) | May 31, 2017EUR (€) | |
Debt Instrument [Line Items] | ||||||||||||||||||
Number of series of subordinated notes | debt_instrument | 10 | 10 | 10 | 10 | ||||||||||||||
Debt (inclusive of discount) | $ 8,751,544,000 | $ 8,229,430,000 | ||||||||||||||||
Long-term debt | 8,664,579,000 | 8,142,823,000 | ||||||||||||||||
Net proceeds from sales of senior notes | $ 987,500,000 | 0 | $ 2,656,948,000 | |||||||||||||||
Redemption price, percentage | 100.00% | |||||||||||||||||
Senior Notes 4.375 Percent due 2021 | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Principal Amount | $ 500,000,000 | |||||||||||||||||
Stated interest rate (as a percent) | 4.375% | 4.375% | 4.375% | 4.375% | ||||||||||||||
Debt (inclusive of discount) | $ 500,000,000 | 500,000,000 | ||||||||||||||||
Long-term debt | 497,564,000 | 495,845,000 | ||||||||||||||||
Senior Notes 6 Percent Due 2023 | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Principal Amount | $ 600,000,000 | |||||||||||||||||
Stated interest rate (as a percent) | 6.00% | 6.00% | 6.00% | 6.00% | ||||||||||||||
Debt (inclusive of discount) | $ 600,000,000 | 600,000,000 | ||||||||||||||||
Long-term debt | $ 595,973,000 | 594,874,000 | ||||||||||||||||
CAD 5.375 Percent Senior Notes due 2023 | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Principal Amount | $ 250,000,000 | |||||||||||||||||
Stated interest rate (as a percent) | 5.375% | 5.375% | 5.375% | 5.375% | ||||||||||||||
Senior Notes 4.875 Percent due 2027 | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Principal Amount | $ 1,000,000,000 | |||||||||||||||||
Stated interest rate (as a percent) | 4.875% | 4.875% | 4.875% | 4.875% | ||||||||||||||
Debt (inclusive of discount) | $ 1,000,000,000 | $ 1,000,000,000 | $ 1,000,000,000 | 1,000,000,000 | ||||||||||||||
Long-term debt | $ 988,980,000 | 987,558,000 | ||||||||||||||||
Net proceeds from sales of senior notes | 987,500,000 | |||||||||||||||||
Senior Subordinated Notes 5.75 Percent due 2024 | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Stated interest rate (as a percent) | 5.75% | 5.75% | 5.75% | 5.75% | ||||||||||||||
Debt (inclusive of discount) | $ 1,000,000,000 | 1,000,000,000 | ||||||||||||||||
Long-term debt | $ 993,591,000 | 992,218,000 | ||||||||||||||||
Euro Notes 3 Percent due 2025 | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Principal Amount | € | € 300,000,000 | |||||||||||||||||
Stated interest rate (as a percent) | 3.00% | 3.00% | 3.00% | 3.00% | ||||||||||||||
Debt (inclusive of discount) | € | € 300,000,000 | |||||||||||||||||
Net proceeds from sales of senior notes | $ 332,683,000 | € 296,250,000 | ||||||||||||||||
GBP Notes due 2025 3.875 Percent | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Principal Amount | £ | £ 400,000,000 | |||||||||||||||||
Stated interest rate (as a percent) | 3.875% | 3.875% | 3.875% | 3.875% | ||||||||||||||
Debt (inclusive of discount) | £ | £ 400,000,000 | |||||||||||||||||
Net proceeds from sales of senior notes | $ 522,077,000 | £ 395,000,000 | ||||||||||||||||
Par | 100.00% | |||||||||||||||||
Senior Notes 5.375 Percent due 2026 | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Principal Amount | $ 250,000,000 | |||||||||||||||||
Stated interest rate (as a percent) | 5.375% | 5.375% | 5.375% | 5.375% | ||||||||||||||
Debt (inclusive of discount) | $ 250,000,000 | 250,000,000 | ||||||||||||||||
Long-term debt | 247,244,000 | 246,815,000 | ||||||||||||||||
Senior Notes due 2028 5.25 Percent | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Principal Amount | $ 825,000,000 | |||||||||||||||||
Stated interest rate (as a percent) | 5.25% | 5.25% | 5.25% | 5.25% | ||||||||||||||
Debt (inclusive of discount) | $ 825,000,000 | $ 825,000,000 | $ 825,000,000 | |||||||||||||||
Net proceeds from sales of senior notes | $ 814,688,000 | |||||||||||||||||
Senior Notes 4.875 Percent due 2029 | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Principal Amount | $ 1,000,000,000 | |||||||||||||||||
Stated interest rate (as a percent) | 4.875% | 4.875% | 4.875% | 4.875% | ||||||||||||||
Debt (inclusive of discount) | $ 1,000,000,000 | $ 1,000,000,000 | 0 | |||||||||||||||
Long-term debt | $ 985,896,000 | $ 0 | ||||||||||||||||
Net proceeds from sales of senior notes | $ 987,500,000 | |||||||||||||||||
GBP Senior Notes 6.125% Due 2022 | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Redemption price, percentage | 104.594% | 104.594% | ||||||||||||||||
Aggregate principal amount outstanding | $ 30,056,000 | |||||||||||||||||
CAD Notes | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Long-term debt | $ 157,458,000 | $ 200,000,000 | ||||||||||||||||
Redemption price, percentage | 103.063% | |||||||||||||||||
Aggregate principal amount outstanding | 6,354,000 | |||||||||||||||||
CAD 6 Percent Senior Notes Due 2020 | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Long-term debt | $ 1,000,000,000 | 1,000,000,000 | ||||||||||||||||
Senior Notes 6 Percent Due 2020 | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Redemption price, percentage | 103.155% | |||||||||||||||||
Aggregate principal amount outstanding | $ 41,738,000 | |||||||||||||||||
Parent | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Number of series of subordinated notes | debt_instrument | 7 | 7 | 7 | 7 | ||||||||||||||
IM US Holdings | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Number of series of subordinated notes | debt_instrument | 1 | 1 | 1 | 1 | ||||||||||||||
Canada Company | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Number of series of subordinated notes | debt_instrument | 1 | 1 | 1 | 1 | ||||||||||||||
Iron Mountain Europe | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Number of series of subordinated notes | debt_instrument | 1 | 1 | 1 | 1 |
Debt - Redemption Rates (Detail
Debt - Redemption Rates (Details) | 12 Months Ended |
Dec. 31, 2019 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
Repurchase price in the event of change of control, percentage of principal plus accrued and unpaid interest | 101.00% |
Senior Notes 4.375 Percent due 2021 | Redemption date 2019 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 101.094% |
Senior Notes 4.375 Percent due 2021 | Redemption date 2020 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
Senior Notes 4.375 Percent due 2021 | Redemption date 2021 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
Senior Notes 6 Percent Due 2023 | Redemption date 2019 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 102.00% |
Senior Notes 6 Percent Due 2023 | Redemption date 2020 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 101.00% |
Senior Notes 6 Percent Due 2023 | Redemption date 2021 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
Senior Notes 6 Percent Due 2023 | Redemption date 2022 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
Senior Notes 6 Percent Due 2023 | Redemption date 2023 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
CAD 5.375 Percent Senior Notes due 2023 | Redemption date 2019 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 104.031% |
CAD 5.375 Percent Senior Notes due 2023 | Redemption date 2020 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 102.688% |
CAD 5.375 Percent Senior Notes due 2023 | Redemption date 2021 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 101.344% |
CAD 5.375 Percent Senior Notes due 2023 | Redemption date 2022 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
CAD 5.375 Percent Senior Notes due 2023 | Redemption date 2023 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
Senior Subordinated Notes 5.75 Percent due 2024 | Redemption date 2019 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.958% |
Senior Subordinated Notes 5.75 Percent due 2024 | Redemption date 2020 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
Senior Subordinated Notes 5.75 Percent due 2024 | Redemption date 2021 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
Senior Subordinated Notes 5.75 Percent due 2024 | Redemption date 2022 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
Senior Subordinated Notes 5.75 Percent due 2024 | Redemption date 2023 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
Senior Subordinated Notes 5.75 Percent due 2024 | Redemption date 2024 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
Euro Notes 3 Percent due 2025 | Redemption date 2020 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 101.50% |
Euro Notes 3 Percent due 2025 | Redemption date 2021 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.75% |
Euro Notes 3 Percent due 2025 | Redemption date 2022 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
Euro Notes 3 Percent due 2025 | Redemption date 2023 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
Euro Notes 3 Percent due 2025 | Redemption date 2024 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
Euro Notes 3 Percent due 2025 | Redemption date 2025 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
GBP Notes due 2025 3.875 Percent | Redemption date 2020 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 101.938% |
GBP Notes due 2025 3.875 Percent | Redemption date 2021 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.969% |
GBP Notes due 2025 3.875 Percent | Redemption date 2022 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
GBP Notes due 2025 3.875 Percent | Redemption date 2023 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
GBP Notes due 2025 3.875 Percent | Redemption date 2024 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
GBP Notes due 2025 3.875 Percent | Redemption date 2025 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100000.00% |
Senior Notes 5.375 Percent due 2026 | Redemption date 2021 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 102.688% |
Senior Notes 5.375 Percent due 2026 | Redemption date 2022 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 101.792% |
Senior Notes 5.375 Percent due 2026 | Redemption date 2023 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.896% |
Senior Notes 5.375 Percent due 2026 | Redemption date 2024 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
Senior Notes 5.375 Percent due 2026 | Redemption date 2025 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
Senior Notes 5.375 Percent due 2026 | Redemption date 2026 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
Senior Notes 4.875 Percent due 2027 | Redemption date 2022 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 102.438% |
Senior Notes 4.875 Percent due 2027 | Redemption date 2023 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 101.625% |
Senior Notes 4.875 Percent due 2027 | Redemption date 2024 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.813% |
Senior Notes 4.875 Percent due 2027 | Redemption date 2025 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
Senior Notes 4.875 Percent due 2027 | Redemption date 2026 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
Senior Notes 4.875 Percent due 2027 | Redemption date 2027 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
Senior Notes due 2028 5.25 Percent | Redemption date 2022 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 102.625% |
Senior Notes due 2028 5.25 Percent | Redemption date 2023 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 101.75% |
Senior Notes due 2028 5.25 Percent | Redemption date 2024 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.875% |
Senior Notes due 2028 5.25 Percent | Redemption date 2025 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
Senior Notes due 2028 5.25 Percent | Redemption date 2026 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
Senior Notes due 2028 5.25 Percent | Redemption date 2027 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100000.00% |
Senior Notes due 2028 5.25 Percent | Redemption date 2028 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100000.00% |
Senior Notes 4.875 Percent due 2029 | Redemption date 2024 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 102.438% |
Senior Notes 4.875 Percent due 2029 | Redemption date 2025 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 101.609% |
Senior Notes 4.875 Percent due 2029 | Redemption date 2026 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.814% |
Senior Notes 4.875 Percent due 2029 | Redemption date 2027 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
Senior Notes 4.875 Percent due 2029 | Redemption date 2028 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
Senior Notes 4.875 Percent due 2029 | Redemption date 2029 | |
Debt Instrument [Line Items] | |
Redemption price, percentage | 100.00% |
Debt - Australian Dollar Term L
Debt - Australian Dollar Term Loan (Details) $ in Thousands, $ in Thousands | Mar. 29, 2018USD ($) | Mar. 29, 2018AUD ($) | Mar. 27, 2018AUD ($) | Sep. 28, 2016AUD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2019AUD ($) | Dec. 31, 2018AUD ($) |
Debt Instrument [Line Items] | |||||||||
Debt (inclusive of discount) | $ 8,751,544 | $ 8,229,430 | |||||||
Net proceeds from sales of senior notes | 987,500 | 0 | $ 2,656,948 | ||||||
Australian Dollar Term Loan | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt (inclusive of discount) | $ 350,000 | $ 250,000 | 226,924 | 233,955 | |||||
Amount of quarterly installments based on the original principal | $ 8,750 | $ 6,250 | |||||||
Par | 99.00% | 99.00% | |||||||
Net proceeds from sales of senior notes | $ 75,600 | $ 99,000 | |||||||
Fair Value | $ 228,156 | $ 235,645 | $ 325,313 | $ 334,063 | |||||
Effective interest rate (as a percent) | 4.80% | 6.00% | 4.80% | 6.00% | |||||
Australian Dollar Term Loan | BBSY | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt instrument, basis spread on variable rate | 3.875% | 4.30% |
Debt - UK Bilateral Revolving C
Debt - UK Bilateral Revolving Credit Facility (Details) - Revolving Credit Facility - UK Bilateral Revolving Credit Facility $ in Thousands | Sep. 24, 2018USD ($) | Sep. 24, 2018GBP (£) | Dec. 31, 2019 | Dec. 31, 2018 |
Debt Instrument [Line Items] | ||||
Maximum borrowing capacity | £ 140,000,000 | |||
Optional additional commitments | 125,000,000 | |||
Proceeds from lines of credit | $ 180,300 | £ 138,250,000 | ||
Debt instrument, basis spread on variable rate | 2.25% | 2.25% | ||
Effective interest rate (as a percent) | 3.10% | 3.10% |
Debt - Accounts Receivable and
Debt - Accounts Receivable and Mortgage Securitization Program Narrative (Details) - Secured Debt - USD ($) | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Jul. 31, 2017 | Oct. 31, 2016 | Mar. 31, 2015 | |
Accounts Receivable Securitization Program | |||||
Debt Instrument [Line Items] | |||||
Maximum borrowing capacity | $ 275,000,000 | $ 250,000,000 | |||
Line of credit | $ 272,062,000 | $ 221,673,000 | |||
Effective interest rate (as a percent) | 2.80% | 3.00% | |||
Commitment fee percentage | 4.00% | ||||
Mortgage Securitization Program | |||||
Debt Instrument [Line Items] | |||||
Maximum borrowing capacity | $ 50,000,000 | ||||
Line of credit | $ 50,000,000 | $ 50,000,000 | |||
Effective interest rate (as a percent) | 3.50% | 3.50% |
Debt - Cash Pooling (Details)
Debt - Cash Pooling (Details) | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2017USD ($) | Dec. 31, 2019USD ($)cash_pool | Dec. 31, 2018USD ($) | |
Debt Instrument [Line Items] | |||
Number of cash pools | cash_pool | 2 | ||
QRS Cash Pool | |||
Debt Instrument [Line Items] | |||
Number of cash pools | cash_pool | 1 | ||
Gross Cash Position | $ 10,000,000 | $ 372,100,000 | $ 300,800,000 |
Outstanding Debit Balances | (369,000,000) | (298,800,000) | |
Net Cash Position | 3,100,000 | 2,000,000 | |
TRS Cash Pool | |||
Debt Instrument [Line Items] | |||
Gross Cash Position | 319,800,000 | 281,500,000 | |
Outstanding Debit Balances | (301,300,000) | (279,300,000) | |
Net Cash Position | $ 18,500,000 | $ 2,200,000 |
Debt - Covenant Ratios (Details
Debt - Covenant Ratios (Details) $ in Thousands | Dec. 31, 2019USD ($) | Dec. 31, 2018 |
Credit Agreement | ||
Debt Instrument [Line Items] | ||
Letters of credit outstanding | $ 35,251 | |
Net total lease adjusted leverage ratio | 5.7 | 5.6 |
Net secured debt lease adjusted leverage ratio | 2.3 | 2.6 |
Bond leverage ratio (not lease adjusted) | 5.9 | 5.8 |
Fixed charge coverage ratio | 2.2 | 2.2 |
Credit Agreement | Maximum | ||
Debt Instrument [Line Items] | ||
Net total lease adjusted leverage ratio | 6.5 | |
Net secured debt lease adjusted leverage ratio | 4 | |
Bond leverage ratio (not lease adjusted) | 7 | |
Credit Agreement | Minimum | ||
Debt Instrument [Line Items] | ||
Bond leverage ratio (not lease adjusted) | 6.5 | |
Fixed charge coverage ratio | 1.5 | |
Revolving Credit Facility | ||
Debt Instrument [Line Items] | ||
Letters of credit outstanding | $ 4,853 | |
Senior And Senior Subordinated Notes | ||
Debt Instrument [Line Items] | ||
Maximum allowable leverage ratio under indentures pertaining to senior and senior subordinated notes | 6.5 | |
GBP Notes due 2025, Senior Notes 4.785 due 2027, Senior Notes 5.25 Notes and Senior Notes 4.785 due 2029 | ||
Debt Instrument [Line Items] | ||
Maximum allowable leverage ratio under indentures pertaining to senior and senior subordinated notes | 7 |
Debt - Maturities of Long Term
Debt - Maturities of Long Term Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Debt Disclosure [Abstract] | ||
2020 | $ 389,013 | |
2021 | 608,584 | |
2022 | 487,601 | |
2023 | 1,384,684 | |
2024 | 1,036,688 | |
Thereafter | 4,847,561 | |
Long-term Debt, Excluding Unamortized (Discount) Premium and Debt Issuance Costs, and Current Maturities | 8,754,131 | |
Net Discounts | (2,587) | |
Net Deferred Financing Costs | (86,965) | $ (86,607) |
Total Long-term Debt (including current portion) | $ 8,664,579 | $ 8,142,823 |
Selected Consolidated Financi_3
Selected Consolidated Financial Statements of Parent, Guarantors, and Non-Guarantors - Additional Information (Details) | Dec. 31, 2019 |
Selected Consolidated Financial Statements of Parent, Guarantors, Canada Company and Non-Guarantors [Abstract] | |
Ownership percentage of subsidiaries | 100.00% |
Selected Consolidated Financi_4
Selected Consolidated Financial Statements of Parent, Guarantors, and Non-Guarantors - Consolidated Balance Sheets (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Current Assets: | |||||
Cash and cash equivalents | $ 193,555 | $ 165,485 | |||
Accounts receivable | 850,701 | 846,889 | |||
Intercompany receivable | 0 | 0 | |||
Prepaid expenses and other | 192,083 | 195,740 | |||
Total Current Assets | 1,236,339 | 1,208,114 | |||
Property, Plant and Equipment, Net | 4,623,037 | ||||
Property, Plant and Equipment, Net | 4,489,557 | ||||
Other Assets, Net: | |||||
Long-term notes receivable from affiliates and intercompany receivable | 0 | 0 | |||
Investment in subsidiaries | 0 | 0 | |||
Goodwill | 4,485,209 | 4,441,030 | |||
Operating lease right-of-use assets | 1,869,101 | $ 1,825,721 | 0 | ||
Other | 1,603,130 | 1,718,517 | |||
Total Other Assets, Net | 7,957,440 | 6,159,547 | |||
Total Assets | 13,816,816 | 11,857,218 | $ 10,975,387 | ||
LIABILITIES AND EQUITY | |||||
Intercompany Payable | 0 | 0 | |||
Debit Balances Under Cash Pool | 0 | 0 | |||
Current Portion of Long-term Debt | 389,013 | 126,406 | |||
Total Other Current Liabilities (includes current portion of operating lease liabilities) | 1,560,496 | 1,364,369 | |||
Long-term Debt, Net of Current Portion | 8,275,566 | 8,016,417 | |||
Long-Term Operating Lease Liabilities, Net of Current Portion | 1,728,686 | $ 1,685,771 | 0 | ||
Long-term Notes Payable to Affiliates and Intercompany Payable | 0 | 0 | |||
Other Long-term Liabilities | 331,146 | 417,031 | |||
Commitments and Contingencies (see Note 10) | |||||
Redeemable Noncontrolling Interests (see Note 2.v.) | 67,682 | 70,532 | |||
Total Iron Mountain Incorporated Stockholders' Equity | 1,463,962 | 1,861,054 | |||
Noncontrolling Interests | 265 | 1,409 | |||
Total Equity | 1,464,227 | 1,862,463 | $ 2,285,134 | $ 1,936,671 | |
Total Liabilities and Equity | 13,816,816 | 11,857,218 | |||
Eliminations | |||||
Current Assets: | |||||
Cash and cash equivalents | (176,705) | (67,372) | |||
Accounts receivable | 0 | 0 | |||
Intercompany receivable | (658,580) | (821,324) | |||
Prepaid expenses and other | (29) | (29) | |||
Total Current Assets | (835,314) | (888,725) | |||
Property, Plant and Equipment, Net | 0 | ||||
Property, Plant and Equipment, Net | 0 | ||||
Other Assets, Net: | |||||
Long-term notes receivable from affiliates and intercompany receivable | (5,347,774) | (4,954,686) | |||
Investment in subsidiaries | (3,030,156) | (2,845,066) | |||
Goodwill | 0 | 0 | |||
Operating lease right-of-use assets | 0 | ||||
Other | 0 | 0 | |||
Total Other Assets, Net | (8,377,930) | (7,799,752) | |||
Total Assets | (9,213,244) | (8,688,477) | |||
LIABILITIES AND EQUITY | |||||
Intercompany Payable | (658,580) | (821,324) | |||
Debit Balances Under Cash Pool | (176,705) | (67,372) | |||
Current Portion of Long-term Debt | (29) | (29) | |||
Total Other Current Liabilities (includes current portion of operating lease liabilities) | 0 | 0 | |||
Long-term Debt, Net of Current Portion | 0 | 0 | |||
Long-Term Operating Lease Liabilities, Net of Current Portion | 0 | ||||
Long-term Notes Payable to Affiliates and Intercompany Payable | (5,347,774) | (4,954,686) | |||
Other Long-term Liabilities | 0 | 0 | |||
Redeemable Noncontrolling Interests (see Note 2.v.) | 0 | 0 | |||
Total Iron Mountain Incorporated Stockholders' Equity | (3,030,156) | (2,845,066) | |||
Noncontrolling Interests | 0 | 0 | |||
Total Equity | (3,030,156) | (2,845,066) | |||
Total Liabilities and Equity | (9,213,244) | (8,688,477) | |||
Parent | Reportable legal entities | |||||
Current Assets: | |||||
Cash and cash equivalents | 105 | 132 | |||
Accounts receivable | 0 | 0 | |||
Intercompany receivable | 0 | 0 | |||
Prepaid expenses and other | 0 | 93 | |||
Total Current Assets | 105 | 225 | |||
Property, Plant and Equipment, Net | 597 | ||||
Property, Plant and Equipment, Net | 190 | ||||
Other Assets, Net: | |||||
Long-term notes receivable from affiliates and intercompany receivable | 5,347,774 | 4,954,686 | |||
Investment in subsidiaries | 1,966,978 | 1,862,048 | |||
Goodwill | 0 | 0 | |||
Operating lease right-of-use assets | 0 | ||||
Other | 0 | 0 | |||
Total Other Assets, Net | 7,314,752 | 6,816,734 | |||
Total Assets | 7,315,454 | 6,817,149 | |||
LIABILITIES AND EQUITY | |||||
Intercompany Payable | 338,794 | 462,927 | |||
Debit Balances Under Cash Pool | 0 | 0 | |||
Current Portion of Long-term Debt | 0 | 0 | |||
Total Other Current Liabilities (includes current portion of operating lease liabilities) | 292,673 | 268,373 | |||
Long-term Debt, Net of Current Portion | 5,210,269 | 4,223,822 | |||
Long-Term Operating Lease Liabilities, Net of Current Portion | 0 | ||||
Long-term Notes Payable to Affiliates and Intercompany Payable | 0 | 0 | |||
Other Long-term Liabilities | 9,756 | 973 | |||
Redeemable Noncontrolling Interests (see Note 2.v.) | 0 | 0 | |||
Total Iron Mountain Incorporated Stockholders' Equity | 1,463,962 | 1,861,054 | |||
Noncontrolling Interests | 0 | 0 | |||
Total Equity | 1,463,962 | 1,861,054 | |||
Total Liabilities and Equity | 7,315,454 | 6,817,149 | |||
Guarantors | |||||
LIABILITIES AND EQUITY | |||||
Deposits | 198,300 | 58,900 | |||
Guarantors | Reportable legal entities | |||||
Current Assets: | |||||
Cash and cash equivalents | 206,297 | 63,407 | |||
Accounts receivable | 45,608 | 47,472 | |||
Intercompany receivable | 658,580 | 821,324 | |||
Prepaid expenses and other | 104,164 | 109,480 | |||
Total Current Assets | 1,014,649 | 1,041,683 | |||
Property, Plant and Equipment, Net | 3,051,426 | ||||
Property, Plant and Equipment, Net | 3,010,767 | ||||
Other Assets, Net: | |||||
Long-term notes receivable from affiliates and intercompany receivable | 0 | 0 | |||
Investment in subsidiaries | 1,063,178 | 983,018 | |||
Goodwill | 2,855,424 | 2,861,381 | |||
Operating lease right-of-use assets | 986,362 | ||||
Other | 911,803 | 982,932 | |||
Total Other Assets, Net | 5,816,767 | 4,827,331 | |||
Total Assets | 9,882,842 | 8,879,781 | |||
LIABILITIES AND EQUITY | |||||
Intercompany Payable | 0 | 0 | |||
Debit Balances Under Cash Pool | 0 | 10,612 | |||
Current Portion of Long-term Debt | 51,868 | 63,859 | |||
Total Other Current Liabilities (includes current portion of operating lease liabilities) | 704,109 | 618,513 | |||
Long-term Debt, Net of Current Portion | 1,482,571 | 1,878,079 | |||
Long-Term Operating Lease Liabilities, Net of Current Portion | 915,840 | ||||
Long-term Notes Payable to Affiliates and Intercompany Payable | 5,347,774 | 4,954,686 | |||
Other Long-term Liabilities | 62,525 | 116,895 | |||
Redeemable Noncontrolling Interests (see Note 2.v.) | 0 | 0 | |||
Total Iron Mountain Incorporated Stockholders' Equity | 1,318,155 | 1,237,137 | |||
Noncontrolling Interests | 0 | 0 | |||
Total Equity | 1,318,155 | 1,237,137 | |||
Total Liabilities and Equity | 9,882,842 | 8,879,781 | |||
Non-Guarantor Subsidiaries | |||||
LIABILITIES AND EQUITY | |||||
Deposits | 0 | 12,700 | |||
Non-Guarantor Subsidiaries | Reportable legal entities | |||||
Current Assets: | |||||
Cash and cash equivalents | 163,858 | 169,318 | |||
Accounts receivable | 805,093 | 799,417 | |||
Intercompany receivable | 0 | 0 | |||
Prepaid expenses and other | 87,948 | 86,196 | |||
Total Current Assets | 1,056,899 | 1,054,931 | |||
Property, Plant and Equipment, Net | 1,571,014 | ||||
Property, Plant and Equipment, Net | 1,478,600 | ||||
Other Assets, Net: | |||||
Long-term notes receivable from affiliates and intercompany receivable | 0 | 0 | |||
Investment in subsidiaries | 0 | 0 | |||
Goodwill | 1,629,785 | 1,579,649 | |||
Operating lease right-of-use assets | 882,739 | ||||
Other | 691,327 | 735,585 | |||
Total Other Assets, Net | 3,203,851 | 2,315,234 | |||
Total Assets | 5,831,764 | 4,848,765 | |||
LIABILITIES AND EQUITY | |||||
Intercompany Payable | 319,786 | 358,397 | |||
Debit Balances Under Cash Pool | 176,705 | 56,760 | |||
Current Portion of Long-term Debt | 337,174 | 62,576 | |||
Total Other Current Liabilities (includes current portion of operating lease liabilities) | 563,714 | 477,483 | |||
Long-term Debt, Net of Current Portion | 1,582,726 | 1,914,516 | |||
Long-Term Operating Lease Liabilities, Net of Current Portion | 812,846 | ||||
Long-term Notes Payable to Affiliates and Intercompany Payable | 0 | 0 | |||
Other Long-term Liabilities | 258,865 | 299,163 | |||
Redeemable Noncontrolling Interests (see Note 2.v.) | 67,682 | 70,532 | |||
Total Iron Mountain Incorporated Stockholders' Equity | 1,712,001 | 1,607,929 | |||
Noncontrolling Interests | 265 | 1,409 | |||
Total Equity | 1,712,266 | 1,609,338 | |||
Total Liabilities and Equity | $ 5,831,764 | $ 4,848,765 |
Selected Consolidated Financi_5
Selected Consolidated Financial Statements of Parent, Guarantors, and Non-Guarantors - Consolidated Statement of Operations and Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | Oct. 01, 2017 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Revenues: | ||||||||||||
Storage rental | $ 2,681,087 | |||||||||||
Intercompany revenues | 0 | $ 0 | $ 0 | |||||||||
Revenues | $ 1,061,489 | $ 1,060,991 | $ 1,060,823 | $ 1,042,458 | 4,225,761 | 3,845,578 | ||||||
Total Revenues | $ 1,079,590 | $ 1,062,224 | $ 1,066,907 | $ 1,053,863 | 4,262,584 | |||||||
Operating Expenses: | ||||||||||||
Cost of sales (excluding depreciation and amortization) | 1,833,315 | 1,793,954 | 1,664,825 | |||||||||
Intercompany cost of sales | 0 | 0 | 0 | |||||||||
Selling, general and administrative | 991,664 | 1,006,983 | 937,180 | |||||||||
Depreciation and amortization | 658,201 | 639,514 | 522,376 | |||||||||
Significant Acquisition Costs | 13,293 | 50,665 | 84,901 | |||||||||
Intangible impairments | $ 3,011 | 0 | 0 | 3,011 | ||||||||
Restructuring Charges | 48,600 | 48,597 | 0 | 0 | ||||||||
(Gain) Loss on disposal/write-down of property, plant and equipment, net | (63,824) | (73,622) | (766) | |||||||||
Total Operating Expenses | 3,481,246 | 3,417,494 | 3,211,527 | |||||||||
Operating (Loss) Income | 206,074 | 223,474 | 193,115 | 158,675 | 254,053 | 195,635 | 201,460 | 157,119 | 781,338 | 808,267 | 634,051 | |
Interest Expense (Income), Net | 419,298 | 409,648 | 353,645 | |||||||||
Other Expense (Income), Net | 33,898 | (11,692) | 79,429 | |||||||||
Income (Loss) from Continuing Operations Before Provision (Benefit) for Income Taxes | 328,142 | 410,311 | 200,977 | |||||||||
Provision (Benefit) for Income Taxes | 59,931 | 42,753 | 22,962 | |||||||||
Equity in the (Earnings) Losses of Subsidiaries, Net of Tax | 0 | 0 | 0 | |||||||||
Income (Loss) from Continuing Operations | 37,104 | 108,284 | 92,347 | 30,476 | 158,557 | 77,349 | 92,263 | 39,389 | 268,211 | 367,558 | 178,015 | |
Income (Loss) from Discontinued Operations, Net of Tax | 0 | 0 | 128 | (24) | 0 | (11,605) | (360) | (462) | 104 | (12,427) | (6,291) | |
Net Income (Loss) | 37,104 | 108,284 | 92,475 | 30,452 | 158,557 | 65,744 | 91,903 | 38,927 | 268,315 | 355,131 | 171,724 | |
Less: Net Income (Loss) Attributable to Noncontrolling Interests | 938 | 1,198 | 1,611 | |||||||||
Net Income (Loss) Attributable to Iron Mountain Incorporated | 37,700 | 107,675 | 92,441 | 29,561 | 157,844 | 65,869 | 91,761 | 38,459 | 267,377 | 353,933 | 170,113 | |
Net Income (Loss) | $ 37,104 | $ 108,284 | $ 92,475 | $ 30,452 | $ 158,557 | $ 65,744 | $ 91,903 | $ 38,927 | 268,315 | 355,131 | 171,724 | |
Other Comprehensive Income (Loss): | ||||||||||||
Foreign Currency Translation Adjustment | 11,994 | (164,107) | 108,564 | |||||||||
Change in Fair Value of Derivative Instruments | (8,783) | (973) | ||||||||||
Equity in Other Comprehensive (Loss) Income of Subsidiaries | 0 | 0 | 0 | |||||||||
Total Other Comprehensive Income (Loss) | 3,211 | (165,080) | 108,564 | |||||||||
Comprehensive Income (Loss) | 271,526 | 190,051 | 280,288 | |||||||||
Comprehensive Income (Loss) Attributable to Noncontrolling Interests | 1,066 | (2,207) | 1,591 | |||||||||
Comprehensive Income (Loss) Attributable to Iron Mountain Incorporated | 270,460 | 192,258 | 278,697 | |||||||||
Eliminations | ||||||||||||
Revenues: | ||||||||||||
Storage rental | 0 | |||||||||||
Intercompany revenues | (24,901) | (23,198) | (29,190) | |||||||||
Revenues | (23,198) | (29,190) | ||||||||||
Total Revenues | (24,901) | |||||||||||
Operating Expenses: | ||||||||||||
Cost of sales (excluding depreciation and amortization) | 0 | 0 | 0 | |||||||||
Intercompany cost of sales | (24,901) | (23,198) | (29,190) | |||||||||
Selling, general and administrative | 0 | 0 | 0 | |||||||||
Depreciation and amortization | 0 | 0 | 0 | |||||||||
Significant Acquisition Costs | 0 | 0 | 0 | |||||||||
Intangible impairments | 0 | |||||||||||
Restructuring Charges | 0 | |||||||||||
(Gain) Loss on disposal/write-down of property, plant and equipment, net | 0 | 0 | 0 | |||||||||
Total Operating Expenses | (24,901) | (23,198) | (29,190) | |||||||||
Operating (Loss) Income | 0 | 0 | 0 | |||||||||
Interest Expense (Income), Net | 0 | 0 | 0 | |||||||||
Other Expense (Income), Net | 0 | 0 | 0 | |||||||||
Income (Loss) from Continuing Operations Before Provision (Benefit) for Income Taxes | 0 | 0 | 0 | |||||||||
Provision (Benefit) for Income Taxes | 0 | 0 | 0 | |||||||||
Equity in the (Earnings) Losses of Subsidiaries, Net of Tax | 545,610 | 703,625 | 392,835 | |||||||||
Income (Loss) from Continuing Operations | (545,610) | (703,625) | (392,835) | |||||||||
Income (Loss) from Discontinued Operations, Net of Tax | 0 | 0 | 0 | |||||||||
Net Income (Loss) | (545,610) | (703,625) | (392,835) | |||||||||
Less: Net Income (Loss) Attributable to Noncontrolling Interests | 0 | 0 | 0 | |||||||||
Net Income (Loss) Attributable to Iron Mountain Incorporated | (545,610) | (703,625) | (392,835) | |||||||||
Net Income (Loss) | (545,610) | (703,625) | (392,835) | |||||||||
Other Comprehensive Income (Loss): | ||||||||||||
Foreign Currency Translation Adjustment | 0 | 0 | 0 | |||||||||
Change in Fair Value of Derivative Instruments | 0 | 0 | ||||||||||
Equity in Other Comprehensive (Loss) Income of Subsidiaries | (11,577) | 311,743 | (205,726) | |||||||||
Total Other Comprehensive Income (Loss) | (11,577) | 311,743 | (205,726) | |||||||||
Comprehensive Income (Loss) | (557,187) | (391,882) | (598,561) | |||||||||
Comprehensive Income (Loss) Attributable to Noncontrolling Interests | 0 | 0 | 0 | |||||||||
Comprehensive Income (Loss) Attributable to Iron Mountain Incorporated | (557,187) | (391,882) | (598,561) | |||||||||
Parent | Reportable legal entities | ||||||||||||
Revenues: | ||||||||||||
Storage rental | 0 | |||||||||||
Intercompany revenues | 0 | 0 | 0 | |||||||||
Revenues | 0 | 0 | ||||||||||
Total Revenues | 0 | |||||||||||
Operating Expenses: | ||||||||||||
Cost of sales (excluding depreciation and amortization) | 0 | 0 | 0 | |||||||||
Intercompany cost of sales | 0 | 0 | 0 | |||||||||
Selling, general and administrative | 444 | (288) | 161 | |||||||||
Depreciation and amortization | 91 | 122 | 167 | |||||||||
Significant Acquisition Costs | 0 | 0 | 0 | |||||||||
Intangible impairments | 0 | |||||||||||
Restructuring Charges | 0 | |||||||||||
(Gain) Loss on disposal/write-down of property, plant and equipment, net | 0 | 0 | 0 | |||||||||
Total Operating Expenses | 535 | (166) | 328 | |||||||||
Operating (Loss) Income | (535) | 166 | (328) | |||||||||
Interest Expense (Income), Net | 213,149 | 199,955 | 163,541 | |||||||||
Other Expense (Income), Net | 59 | 2,328 | 47,176 | |||||||||
Income (Loss) from Continuing Operations Before Provision (Benefit) for Income Taxes | (213,743) | (202,117) | (211,045) | |||||||||
Provision (Benefit) for Income Taxes | 0 | 0 | 0 | |||||||||
Equity in the (Earnings) Losses of Subsidiaries, Net of Tax | (481,120) | (556,050) | (381,158) | |||||||||
Income (Loss) from Continuing Operations | 267,377 | 353,933 | 170,113 | |||||||||
Income (Loss) from Discontinued Operations, Net of Tax | 0 | 0 | 0 | |||||||||
Net Income (Loss) | 267,377 | 353,933 | 170,113 | |||||||||
Less: Net Income (Loss) Attributable to Noncontrolling Interests | 0 | 0 | 0 | |||||||||
Net Income (Loss) Attributable to Iron Mountain Incorporated | 267,377 | 353,933 | 170,113 | |||||||||
Net Income (Loss) | 267,377 | 353,933 | 170,113 | |||||||||
Other Comprehensive Income (Loss): | ||||||||||||
Foreign Currency Translation Adjustment | 6,003 | 11,070 | (15,015) | |||||||||
Change in Fair Value of Derivative Instruments | (8,783) | (973) | ||||||||||
Equity in Other Comprehensive (Loss) Income of Subsidiaries | 5,863 | (171,772) | 123,599 | |||||||||
Total Other Comprehensive Income (Loss) | 3,083 | (161,675) | 108,584 | |||||||||
Comprehensive Income (Loss) | 270,460 | 192,258 | 278,697 | |||||||||
Comprehensive Income (Loss) Attributable to Noncontrolling Interests | 0 | 0 | 0 | |||||||||
Comprehensive Income (Loss) Attributable to Iron Mountain Incorporated | 270,460 | 192,258 | 278,697 | |||||||||
Guarantors | Reportable legal entities | ||||||||||||
Revenues: | ||||||||||||
Storage rental | 1,654,359 | |||||||||||
Intercompany revenues | 4,668 | 4,759 | 4,577 | |||||||||
Revenues | 2,585,318 | 2,314,114 | ||||||||||
Total Revenues | 2,637,254 | |||||||||||
Operating Expenses: | ||||||||||||
Cost of sales (excluding depreciation and amortization) | 1,048,514 | 1,009,890 | 922,008 | |||||||||
Intercompany cost of sales | 20,233 | 18,439 | 24,613 | |||||||||
Selling, general and administrative | 679,964 | 679,740 | 613,350 | |||||||||
Depreciation and amortization | 410,524 | 404,574 | 310,962 | |||||||||
Significant Acquisition Costs | 7,055 | 35,607 | 52,621 | |||||||||
Intangible impairments | 3,011 | |||||||||||
Restructuring Charges | 32,218 | |||||||||||
(Gain) Loss on disposal/write-down of property, plant and equipment, net | (26,472) | (2,841) | (1,001) | |||||||||
Total Operating Expenses | 2,172,036 | 2,145,409 | 1,925,564 | |||||||||
Operating (Loss) Income | 465,218 | 439,909 | 388,550 | |||||||||
Interest Expense (Income), Net | 18,923 | 6,392 | 7,606 | |||||||||
Other Expense (Income), Net | 19,271 | 17,158 | 9,178 | |||||||||
Income (Loss) from Continuing Operations Before Provision (Benefit) for Income Taxes | 427,024 | 416,359 | 371,766 | |||||||||
Provision (Benefit) for Income Taxes | 6,698 | (1,006) | 3,988 | |||||||||
Equity in the (Earnings) Losses of Subsidiaries, Net of Tax | (64,490) | (147,575) | (11,677) | |||||||||
Income (Loss) from Continuing Operations | 484,816 | 564,940 | 379,455 | |||||||||
Income (Loss) from Discontinued Operations, Net of Tax | 120 | (12,283) | (4,370) | |||||||||
Net Income (Loss) | 484,936 | 552,657 | 375,085 | |||||||||
Less: Net Income (Loss) Attributable to Noncontrolling Interests | 0 | 0 | 0 | |||||||||
Net Income (Loss) Attributable to Iron Mountain Incorporated | 484,936 | 552,657 | 375,085 | |||||||||
Net Income (Loss) | 484,936 | 552,657 | 375,085 | |||||||||
Other Comprehensive Income (Loss): | ||||||||||||
Foreign Currency Translation Adjustment | 0 | 0 | 0 | |||||||||
Change in Fair Value of Derivative Instruments | 0 | 0 | ||||||||||
Equity in Other Comprehensive (Loss) Income of Subsidiaries | 5,714 | (139,971) | 82,127 | |||||||||
Total Other Comprehensive Income (Loss) | 5,714 | (139,971) | 82,127 | |||||||||
Comprehensive Income (Loss) | 490,650 | 412,686 | 457,212 | |||||||||
Comprehensive Income (Loss) Attributable to Noncontrolling Interests | 0 | 0 | 0 | |||||||||
Comprehensive Income (Loss) Attributable to Iron Mountain Incorporated | 490,650 | 412,686 | 457,212 | |||||||||
Non-Guarantor Subsidiaries | Reportable legal entities | ||||||||||||
Revenues: | ||||||||||||
Storage rental | 1,026,728 | |||||||||||
Intercompany revenues | 20,233 | 18,439 | 24,613 | |||||||||
Revenues | 1,663,641 | 1,560,654 | ||||||||||
Total Revenues | 1,650,231 | |||||||||||
Operating Expenses: | ||||||||||||
Cost of sales (excluding depreciation and amortization) | 784,801 | 784,064 | 742,817 | |||||||||
Intercompany cost of sales | 4,668 | 4,759 | 4,577 | |||||||||
Selling, general and administrative | 311,256 | 327,531 | 323,669 | |||||||||
Depreciation and amortization | 247,586 | 234,818 | 211,247 | |||||||||
Significant Acquisition Costs | 6,238 | 15,058 | 32,280 | |||||||||
Intangible impairments | 0 | |||||||||||
Restructuring Charges | 16,379 | |||||||||||
(Gain) Loss on disposal/write-down of property, plant and equipment, net | (37,352) | (70,781) | 235 | |||||||||
Total Operating Expenses | 1,333,576 | 1,295,449 | 1,314,825 | |||||||||
Operating (Loss) Income | 316,655 | 368,192 | 245,829 | |||||||||
Interest Expense (Income), Net | 187,226 | 203,301 | 182,498 | |||||||||
Other Expense (Income), Net | 14,568 | (31,178) | 23,075 | |||||||||
Income (Loss) from Continuing Operations Before Provision (Benefit) for Income Taxes | 114,861 | 196,069 | 40,256 | |||||||||
Provision (Benefit) for Income Taxes | 53,233 | 43,759 | 18,974 | |||||||||
Equity in the (Earnings) Losses of Subsidiaries, Net of Tax | 0 | 0 | 0 | |||||||||
Income (Loss) from Continuing Operations | 61,628 | 152,310 | 21,282 | |||||||||
Income (Loss) from Discontinued Operations, Net of Tax | (16) | (144) | (1,921) | |||||||||
Net Income (Loss) | 61,612 | 152,166 | 19,361 | |||||||||
Less: Net Income (Loss) Attributable to Noncontrolling Interests | 938 | 1,198 | 1,611 | |||||||||
Net Income (Loss) Attributable to Iron Mountain Incorporated | 60,674 | 150,968 | 17,750 | |||||||||
Net Income (Loss) | 61,612 | 152,166 | 19,361 | |||||||||
Other Comprehensive Income (Loss): | ||||||||||||
Foreign Currency Translation Adjustment | 5,991 | (175,177) | 123,579 | |||||||||
Change in Fair Value of Derivative Instruments | 0 | 0 | ||||||||||
Equity in Other Comprehensive (Loss) Income of Subsidiaries | 0 | 0 | 0 | |||||||||
Total Other Comprehensive Income (Loss) | 5,991 | (175,177) | 123,579 | |||||||||
Comprehensive Income (Loss) | 67,603 | (23,011) | 142,940 | |||||||||
Comprehensive Income (Loss) Attributable to Noncontrolling Interests | 1,066 | (2,207) | 1,591 | |||||||||
Comprehensive Income (Loss) Attributable to Iron Mountain Incorporated | 66,537 | (20,804) | 141,349 | |||||||||
Storage rental | ||||||||||||
Revenues: | ||||||||||||
Revenues | 2,622,455 | 2,377,557 | ||||||||||
Storage rental | Eliminations | ||||||||||||
Revenues: | ||||||||||||
Revenues | 0 | 0 | ||||||||||
Storage rental | Parent | Reportable legal entities | ||||||||||||
Revenues: | ||||||||||||
Revenues | 0 | 0 | ||||||||||
Storage rental | Guarantors | Reportable legal entities | ||||||||||||
Revenues: | ||||||||||||
Revenues | 1,606,346 | 1,443,219 | ||||||||||
Storage rental | Non-Guarantor Subsidiaries | Reportable legal entities | ||||||||||||
Revenues: | ||||||||||||
Revenues | 1,016,109 | 934,338 | ||||||||||
Service | ||||||||||||
Revenues: | ||||||||||||
Revenues | 1,581,497 | 1,603,306 | 1,468,021 | |||||||||
Service | Eliminations | ||||||||||||
Revenues: | ||||||||||||
Revenues | 0 | 0 | 0 | |||||||||
Service | Parent | Reportable legal entities | ||||||||||||
Revenues: | ||||||||||||
Revenues | 0 | 0 | 0 | |||||||||
Service | Guarantors | Reportable legal entities | ||||||||||||
Revenues: | ||||||||||||
Revenues | 978,227 | 974,213 | 866,318 | |||||||||
Service | Non-Guarantor Subsidiaries | Reportable legal entities | ||||||||||||
Revenues: | ||||||||||||
Revenues | $ 603,270 | $ 629,093 | $ 601,703 |
Selected Consolidated Financi_6
Selected Consolidated Financial Statements of Parent, Guarantors, and Non-Guarantors - Consolidated Statement of Cash Flows (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash Flows from Operating Activities: | |||
Cash Flows from Operating Activities - Continuing Operations | $ 966,655 | $ 936,544 | $ 724,259 |
Cash Flows from Operating Activities-Discontinued Operations | 0 | (995) | (3,291) |
Cash Flows from Operating Activities | 966,655 | 935,549 | 720,968 |
Cash Flows from Investing Activities: | |||
Capital expenditures | (692,983) | (460,062) | (343,131) |
Cash paid for acquisitions, net of cash acquired | (58,237) | (1,758,557) | (219,705) |
Intercompany loans to subsidiaries | 0 | ||
Intercompany loans to subsidiaries | 0 | 0 | |
Investment in subsidiaries | 0 | ||
Acquisitions of customer relationships, customer inducements and data center lease-based intangibles | (131,647) | (98,687) | (75,185) |
Investment in joint ventures | (19,222) | 0 | 0 |
Net proceeds from Divestments | 0 | 1,019 | 29,236 |
Proceeds from sales of property and equipment and other, net (including real estate) and proceeds from involuntary conversion of property and equipment | 166,143 | 86,159 | 9,337 |
Cash Flows from Investing Activities-Continuing Operations | (735,946) | (2,230,128) | (599,448) |
Cash Flows from Investing Activities-Discontinued Operations | 5,061 | 8,250 | 0 |
Cash Flows from Investing Activities | (730,885) | (2,221,878) | (599,448) |
Cash Flows from Financing Activities: | |||
Repayment of revolving credit and term loan facilities and other debt | (14,535,115) | (14,192,139) | (14,429,695) |
Proceeds from revolving credit and term loan facilities and other debt | 14,059,818 | 15,351,614 | 13,917,055 |
Early retirement of senior subordinated and senior notes | 0 | 0 | (1,746,856) |
Net proceeds from sales of senior notes | 987,500 | 0 | 2,656,948 |
Debit balances (payments) under cash pools | 0 | 0 | 0 |
Debt (repayment to) financing from and equity (distribution to) contribution from noncontrolling interests, net | 9,079 | ||
Debt (repayment to) financing from and equity (distribution to) contribution from noncontrolling interests, net | (1,924) | (2,523) | (4,151) |
Debt financing and equity contribution from noncontrolling interests | 0 | 0 | 13,230 |
Intercompany loans from parent | 0 | 0 | 0 |
Equity contribution from parent | 0 | ||
Parent cash dividends | (704,526) | (673,635) | (439,999) |
Net proceeds (payments) associated with employee stock-based awards | (1,142) | ||
Net proceeds (payments) associated with employee stock-based awards | 1,027 | 13,095 | |
Net proceeds associated with the Equity Offering, including Over-Allotment Option | 76,192 | 516,462 | |
Net proceeds associated with the At The Market (ATM) Program | 0 | 8,716 | 59,129 |
Payment of debt financing and stock issuance costs and other | (5,753) | (16,405) | (14,793) |
Cash Flows from Financing Activities-Continuing Operations | (198,973) | 550,678 | 540,425 |
Cash Flows from Financing Activities-Discontinued Operations | 0 | 0 | 0 |
Cash Flows from Financing Activities | (198,973) | 550,678 | 540,425 |
Effect of exchange rates on cash and cash equivalents | (8,727) | (24,563) | 27,270 |
Increase (decrease) in Cash and Cash Equivalents | 28,070 | (760,214) | 689,215 |
Cash and cash equivalents, including Restricted Cash, beginning of year | 165,485 | 925,699 | 236,484 |
Cash and cash equivalents, including Restricted Cash, end of year | 193,555 | 165,485 | 925,699 |
Eliminations | |||
Cash Flows from Operating Activities: | |||
Cash Flows from Operating Activities - Continuing Operations | 0 | 0 | 0 |
Cash Flows from Operating Activities-Discontinued Operations | 0 | 0 | 0 |
Cash Flows from Operating Activities | 0 | 0 | 0 |
Cash Flows from Investing Activities: | |||
Capital expenditures | 0 | 0 | 0 |
Cash paid for acquisitions, net of cash acquired | 0 | 0 | 0 |
Intercompany loans to subsidiaries | (896,368) | ||
Intercompany loans to subsidiaries | 120,260 | 1,335,554 | |
Investment in subsidiaries | 16,170 | ||
Acquisitions of customer relationships, customer inducements and data center lease-based intangibles | 0 | 0 | 0 |
Investment in joint ventures | 0 | ||
Net proceeds from Divestments | 0 | 0 | 0 |
Proceeds from sales of property and equipment and other, net (including real estate) and proceeds from involuntary conversion of property and equipment | 0 | 0 | 0 |
Cash Flows from Investing Activities-Continuing Operations | 120,260 | (896,368) | 1,351,724 |
Cash Flows from Investing Activities-Discontinued Operations | 0 | 0 | 0 |
Cash Flows from Investing Activities | 120,260 | (896,368) | 1,351,724 |
Cash Flows from Financing Activities: | |||
Repayment of revolving credit and term loan facilities and other debt | 0 | 0 | 0 |
Proceeds from revolving credit and term loan facilities and other debt | 0 | 0 | 0 |
Early retirement of senior subordinated and senior notes | 0 | ||
Net proceeds from sales of senior notes | 0 | 0 | |
Debit balances (payments) under cash pools | (109,333) | 27,354 | (94,726) |
Debt (repayment to) financing from and equity (distribution to) contribution from noncontrolling interests, net | 0 | ||
Debt (repayment to) financing from and equity (distribution to) contribution from noncontrolling interests, net | 0 | 0 | |
Intercompany loans from parent | (120,260) | 896,368 | (1,335,554) |
Equity contribution from parent | (16,170) | ||
Parent cash dividends | 0 | 0 | 0 |
Net proceeds (payments) associated with employee stock-based awards | 0 | ||
Net proceeds (payments) associated with employee stock-based awards | 0 | 0 | |
Net proceeds associated with the Equity Offering, including Over-Allotment Option | 0 | 0 | |
Net proceeds associated with the At The Market (ATM) Program | 0 | 0 | |
Payment of debt financing and stock issuance costs and other | 0 | 0 | 0 |
Cash Flows from Financing Activities-Continuing Operations | (229,593) | 923,722 | (1,446,450) |
Cash Flows from Financing Activities-Discontinued Operations | 0 | 0 | 0 |
Cash Flows from Financing Activities | (229,593) | 923,722 | (1,446,450) |
Effect of exchange rates on cash and cash equivalents | 0 | 0 | 0 |
Increase (decrease) in Cash and Cash Equivalents | (109,333) | 27,354 | (94,726) |
Cash and cash equivalents, including Restricted Cash, beginning of year | (67,372) | (94,726) | 0 |
Cash and cash equivalents, including Restricted Cash, end of year | (176,705) | (67,372) | (94,726) |
Parent | Reportable legal entities | |||
Cash Flows from Operating Activities: | |||
Cash Flows from Operating Activities - Continuing Operations | (157,162) | (217,819) | (203,403) |
Cash Flows from Operating Activities-Discontinued Operations | 0 | 0 | 0 |
Cash Flows from Operating Activities | (157,162) | (217,819) | (203,403) |
Cash Flows from Investing Activities: | |||
Capital expenditures | 0 | 0 | 0 |
Cash paid for acquisitions, net of cash acquired | 0 | 0 | 0 |
Intercompany loans to subsidiaries | 805,799 | ||
Intercompany loans to subsidiaries | (124,897) | (990,635) | |
Investment in subsidiaries | (16,170) | ||
Acquisitions of customer relationships, customer inducements and data center lease-based intangibles | 0 | 0 | 0 |
Investment in joint ventures | 0 | ||
Net proceeds from Divestments | 0 | 0 | 0 |
Proceeds from sales of property and equipment and other, net (including real estate) and proceeds from involuntary conversion of property and equipment | 0 | 0 | 0 |
Cash Flows from Investing Activities-Continuing Operations | (124,897) | 805,799 | (1,006,805) |
Cash Flows from Investing Activities-Discontinued Operations | 0 | 0 | 0 |
Cash Flows from Investing Activities | (124,897) | 805,799 | (1,006,805) |
Cash Flows from Financing Activities: | |||
Repayment of revolving credit and term loan facilities and other debt | 0 | 0 | (262,579) |
Proceeds from revolving credit and term loan facilities and other debt | 0 | 0 | 224,660 |
Early retirement of senior subordinated and senior notes | (1,031,554) | ||
Net proceeds from sales of senior notes | 987,500 | 2,134,870 | |
Debit balances (payments) under cash pools | 0 | 0 | 0 |
Debt (repayment to) financing from and equity (distribution to) contribution from noncontrolling interests, net | 0 | ||
Debt (repayment to) financing from and equity (distribution to) contribution from noncontrolling interests, net | 0 | 0 | |
Intercompany loans from parent | 0 | 0 | 0 |
Equity contribution from parent | 0 | ||
Parent cash dividends | (704,526) | (673,635) | (439,999) |
Net proceeds (payments) associated with employee stock-based awards | (1,142) | ||
Net proceeds (payments) associated with employee stock-based awards | 1,027 | 13,095 | |
Net proceeds associated with the Equity Offering, including Over-Allotment Option | 76,192 | 516,462 | |
Net proceeds associated with the At The Market (ATM) Program | 8,716 | 59,129 | |
Payment of debt financing and stock issuance costs and other | (1,969) | (412) | (3,848) |
Cash Flows from Financing Activities-Continuing Operations | 282,032 | (590,281) | 1,210,236 |
Cash Flows from Financing Activities-Discontinued Operations | 0 | 0 | 0 |
Cash Flows from Financing Activities | 282,032 | (590,281) | 1,210,236 |
Effect of exchange rates on cash and cash equivalents | 0 | 0 | 0 |
Increase (decrease) in Cash and Cash Equivalents | (27) | (2,301) | 28 |
Cash and cash equivalents, including Restricted Cash, beginning of year | 132 | 2,433 | 2,405 |
Cash and cash equivalents, including Restricted Cash, end of year | 105 | 132 | 2,433 |
Guarantors | Reportable legal entities | |||
Cash Flows from Operating Activities: | |||
Cash Flows from Operating Activities - Continuing Operations | 850,840 | 880,615 | 737,532 |
Cash Flows from Operating Activities-Discontinued Operations | 0 | (995) | (1,345) |
Cash Flows from Operating Activities | 850,840 | 879,620 | 736,187 |
Cash Flows from Investing Activities: | |||
Capital expenditures | (412,725) | (313,510) | (237,004) |
Cash paid for acquisitions, net of cash acquired | (9,508) | (1,338,888) | (96,946) |
Intercompany loans to subsidiaries | 90,569 | ||
Intercompany loans to subsidiaries | 4,637 | (344,919) | |
Investment in subsidiaries | 0 | ||
Acquisitions of customer relationships, customer inducements and data center lease-based intangibles | (99,610) | (76,388) | (63,759) |
Investment in joint ventures | (19,222) | ||
Net proceeds from Divestments | 0 | 1,019 | 0 |
Proceeds from sales of property and equipment and other, net (including real estate) and proceeds from involuntary conversion of property and equipment | 115,775 | 299 | 12,963 |
Cash Flows from Investing Activities-Continuing Operations | (420,653) | (1,636,899) | (729,665) |
Cash Flows from Investing Activities-Discontinued Operations | 2,564 | 8,250 | 0 |
Cash Flows from Investing Activities | (418,089) | (1,628,649) | (729,665) |
Cash Flows from Financing Activities: | |||
Repayment of revolving credit and term loan facilities and other debt | (10,479,101) | (7,355,086) | (8,077,553) |
Proceeds from revolving credit and term loan facilities and other debt | 10,057,145 | 8,445,551 | 7,650,436 |
Early retirement of senior subordinated and senior notes | 0 | ||
Net proceeds from sales of senior notes | 0 | 0 | |
Debit balances (payments) under cash pools | (10,612) | (45,621) | 56,233 |
Debt (repayment to) financing from and equity (distribution to) contribution from noncontrolling interests, net | 0 | ||
Debt (repayment to) financing from and equity (distribution to) contribution from noncontrolling interests, net | 0 | 0 | |
Intercompany loans from parent | 143,767 | (862,425) | 992,708 |
Equity contribution from parent | 0 | ||
Parent cash dividends | 0 | 0 | 0 |
Net proceeds (payments) associated with employee stock-based awards | 0 | ||
Net proceeds (payments) associated with employee stock-based awards | 0 | 0 | |
Net proceeds associated with the Equity Offering, including Over-Allotment Option | 0 | 0 | |
Net proceeds associated with the At The Market (ATM) Program | 0 | 0 | |
Payment of debt financing and stock issuance costs and other | (1,060) | (12,391) | (9,391) |
Cash Flows from Financing Activities-Continuing Operations | (289,861) | 170,028 | 612,433 |
Cash Flows from Financing Activities-Discontinued Operations | 0 | 0 | 0 |
Cash Flows from Financing Activities | (289,861) | 170,028 | 612,433 |
Effect of exchange rates on cash and cash equivalents | 0 | 0 | 0 |
Increase (decrease) in Cash and Cash Equivalents | 142,890 | (579,001) | 618,955 |
Cash and cash equivalents, including Restricted Cash, beginning of year | 63,407 | 642,408 | 23,453 |
Cash and cash equivalents, including Restricted Cash, end of year | 206,297 | 63,407 | 642,408 |
Non-Guarantor Subsidiaries | Reportable legal entities | |||
Cash Flows from Operating Activities: | |||
Cash Flows from Operating Activities - Continuing Operations | 272,977 | 273,748 | 190,130 |
Cash Flows from Operating Activities-Discontinued Operations | 0 | 0 | (1,946) |
Cash Flows from Operating Activities | 272,977 | 273,748 | 188,184 |
Cash Flows from Investing Activities: | |||
Capital expenditures | (280,258) | (146,552) | (106,127) |
Cash paid for acquisitions, net of cash acquired | (48,729) | (419,669) | (122,759) |
Intercompany loans to subsidiaries | 0 | ||
Intercompany loans to subsidiaries | 0 | 0 | |
Investment in subsidiaries | 0 | ||
Acquisitions of customer relationships, customer inducements and data center lease-based intangibles | (32,037) | (22,299) | (11,426) |
Investment in joint ventures | 0 | ||
Net proceeds from Divestments | 0 | 0 | 29,236 |
Proceeds from sales of property and equipment and other, net (including real estate) and proceeds from involuntary conversion of property and equipment | 50,368 | 85,860 | (3,626) |
Cash Flows from Investing Activities-Continuing Operations | (310,656) | (502,660) | (214,702) |
Cash Flows from Investing Activities-Discontinued Operations | 2,497 | 0 | 0 |
Cash Flows from Investing Activities | (308,159) | (502,660) | (214,702) |
Cash Flows from Financing Activities: | |||
Repayment of revolving credit and term loan facilities and other debt | (4,056,014) | (6,837,053) | (6,089,563) |
Proceeds from revolving credit and term loan facilities and other debt | 4,002,673 | 6,906,063 | 6,041,959 |
Early retirement of senior subordinated and senior notes | (715,302) | ||
Net proceeds from sales of senior notes | 0 | 522,078 | |
Debit balances (payments) under cash pools | 119,945 | 18,267 | 38,493 |
Debt (repayment to) financing from and equity (distribution to) contribution from noncontrolling interests, net | 9,079 | ||
Debt (repayment to) financing from and equity (distribution to) contribution from noncontrolling interests, net | (1,924) | (2,523) | |
Intercompany loans from parent | (23,507) | (33,943) | 342,846 |
Equity contribution from parent | 16,170 | ||
Parent cash dividends | 0 | 0 | 0 |
Net proceeds (payments) associated with employee stock-based awards | 0 | ||
Net proceeds (payments) associated with employee stock-based awards | 0 | 0 | |
Net proceeds associated with the Equity Offering, including Over-Allotment Option | 0 | 0 | |
Net proceeds associated with the At The Market (ATM) Program | 0 | 0 | |
Payment of debt financing and stock issuance costs and other | (2,724) | (3,602) | (1,554) |
Cash Flows from Financing Activities-Continuing Operations | 38,449 | 47,209 | 164,206 |
Cash Flows from Financing Activities-Discontinued Operations | 0 | 0 | 0 |
Cash Flows from Financing Activities | 38,449 | 47,209 | 164,206 |
Effect of exchange rates on cash and cash equivalents | (8,727) | (24,563) | 27,270 |
Increase (decrease) in Cash and Cash Equivalents | (5,460) | (206,266) | 164,958 |
Cash and cash equivalents, including Restricted Cash, beginning of year | 169,318 | 375,584 | 210,626 |
Cash and cash equivalents, including Restricted Cash, end of year | $ 163,858 | $ 169,318 | $ 375,584 |
Acquisitions - Narrative (Detai
Acquisitions - Narrative (Details) $ / shares in Units, € in Thousands, £ in Thousands, $ in Thousands | May 25, 2018USD ($) | May 25, 2018EUR (€) | Mar. 08, 2018USD ($)data_center | Mar. 08, 2018GBP (£)data_center | Mar. 08, 2018SGD ($)data_center | Jan. 10, 2018USD ($)data_center | Feb. 28, 2019USD ($) | Dec. 31, 2017USD ($) | Sep. 30, 2017USD ($)$ / sharesshares | Sep. 30, 2017GBP (£)shares | Dec. 31, 2019USD ($)company | Dec. 31, 2018USD ($)company | Dec. 31, 2017USD ($)acquisitioncompany |
Storage and Data Management Company | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Number of companies acquired | company | 10 | 11 | |||||||||||
Storage, Records Management And Art Storage Companies | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Cash consideration | $ 51,000,000 | ||||||||||||
Storage, Records Management And Art Storage Companies | Maximum | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Purchase price | 12,500,000 | ||||||||||||
Storage, Records Management And Art Storage Companies | Minimum | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Purchase price | 700,000 | ||||||||||||
IO Data Center LLC | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Cash consideration | $ 1,347,046,000 | ||||||||||||
Purchase price | $ 1,347,000,000 | $ 31,000,000 | $ 1,347,046,000 | ||||||||||
Number of data centers | data_center | 4 | ||||||||||||
Operating expenditures | $ 28,064 | ||||||||||||
EvoSwitch | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Cash consideration | $ 222,000,000 | € 189,000 | |||||||||||
Potential additional payments to be made | $ 25,000,000 | ||||||||||||
Credit Suisse Data Center Acquisition | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Purchase price | $ 111,400,000 | £ 34,600 | $ 81,000 | ||||||||||
Number of data centers | data_center | 2 | 2 | 2 | ||||||||||
Art Storage Company | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Number of companies acquired | company | 1 | 3 | 1 | ||||||||||
Other 2018 Individually Immaterial Business Acquisitions | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Purchase price | $ 98,100,000 | ||||||||||||
Other 2018 Individually Immaterial Business Acquisitions | Maximum | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Purchase price | 34,100,000 | ||||||||||||
Other 2018 Individually Immaterial Business Acquisitions | Minimum | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Purchase price | $ 1,000,000 | ||||||||||||
Santa Fe China Transaction | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Purchase price | $ 16,800,000 | ||||||||||||
Bonded Transaction | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Purchase price | $ 83,000,000 | £ 62,000 | |||||||||||
FORTRUST | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Cash consideration | 54,500,000 | ||||||||||||
Purchase price | $ 137,500,000 | ||||||||||||
Share price (in dollars per share) | $ / shares | $ 37.84 | ||||||||||||
FORTRUST | Common Stock | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Issuance of common stock (in shares) | shares | 2,193,637 | 2,193,637 | |||||||||||
Storage and Records Management Company | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Number of companies acquired | acquisition | 12 | ||||||||||||
Other 2017 Individually Immaterial Business Acquisitions | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Purchase price | $ 98,200,000 | ||||||||||||
Other 2017 Individually Immaterial Business Acquisitions | Maximum | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Purchase price | 28,500,000 | ||||||||||||
Other 2017 Individually Immaterial Business Acquisitions | Minimum | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Purchase price | $ 100,000 |
Acquisitions - Pro Forma Financ
Acquisitions - Pro Forma Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Business Combinations [Abstract] | ||
Total Revenues | $ 4,229,251 | $ 3,983,016 |
Income from Continuing Operations | $ 377,510 | $ 110,677 |
Per Share Income from Continuing Operations - Basic (in dollars per share) | $ 1.32 | $ 0.39 |
Per Share Income from Continuing Operations - Diluted (in dollars per share) | $ 1.31 | $ 0.39 |
Acquisitions - Schedule of Purc
Acquisitions - Schedule of Purchase Price Allocation (Details) € in Thousands, $ in Thousands | May 25, 2018USD ($) | May 25, 2018EUR (€) | Jan. 10, 2018USD ($) | Feb. 28, 2019USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Jan. 01, 2019USD ($) |
Consideration paid for acquisitions | |||||||||
Accrued Purchase Price and Other Holdbacks (see Note 6) | $ 4,135 | $ 35,218 | $ 20,093 | ||||||
Fair Value of Identifiable Assets Acquired: | |||||||||
Operating lease right-of-use assets | 1,869,101 | 0 | $ 1,825,721 | ||||||
Operating Lease Liabilities | (1,728,686) | 0 | $ (1,685,771) | ||||||
Goodwill Initially Recorded | 4,485,209 | 4,441,030 | |||||||
Cash paid for previous acquisition | 7,186 | ||||||||
Other Acquisitions | |||||||||
Consideration paid for acquisitions | |||||||||
Cash Paid (gross of cash acquired) | 53,230 | 432,078 | 234,314 | ||||||
Accrued Purchase Price and Other Holdbacks (see Note 6) | 4,135 | 35,218 | 20,093 | ||||||
Fair Value of Common Stock Issued | 0 | 0 | 83,014 | ||||||
Fair Value of Noncontrolling Interests | $ 1,507 | 0 | 0 | 1,507 | |||||
Total Consideration | 57,365 | 467,296 | 338,928 | ||||||
Fair Value of Identifiable Assets Acquired: | |||||||||
Cash | 14,746 | 2,260 | 10,227 | 14,746 | |||||
Accounts Receivable, Prepaid Expenses and Other Assets | 24,379 | 3,102 | 17,662 | 24,379 | |||||
Property, Plant and Equipment | 150,878 | 5,396 | 225,848 | 150,878 | |||||
Customer Relationship Intangible Assets | 116,028 | 22,071 | 44,622 | 116,028 | |||||
Operating lease right-of-use assets | 0 | 16,956 | 0 | 0 | |||||
Data Center In-Place Leases | 6,300 | 0 | 36,130 | 6,300 | |||||
Data Center Tenant Relationships | 0 | 0 | 18,410 | 0 | |||||
Data Center Above-Market Leases | 0 | 0 | 2,381 | 0 | |||||
Other Intangible Assets | 14,487 | 0 | 0 | 14,487 | |||||
Debt Assumed | (5,287) | 0 | (12,312) | (5,287) | |||||
Accounts Payable, Accrued Expenses and Other Liabilities | (24,869) | (3,233) | (17,206) | (24,869) | |||||
Operating Lease Liabilities | 0 | (16,956) | 0 | 0 | |||||
Deferred Income Taxes | (18,122) | (1,813) | (43,218) | (18,122) | |||||
Data Center Below-Market Leases | 0 | 0 | (694) | 0 | |||||
Total Fair Value of Identifiable Net Assets Acquired | 278,540 | 27,783 | 281,850 | 278,540 | |||||
Goodwill Initially Recorded | 60,388 | 29,582 | 185,446 | 60,388 | |||||
Cash acquired from acquisition | 2,260 | 44,534 | 14,746 | ||||||
Cash paid for previous acquisition | $ 7,267 | 23,967 | 137 | ||||||
IO Data Center LLC | |||||||||
Consideration paid for acquisitions | |||||||||
Cash Paid (gross of cash acquired) | 1,347,046 | ||||||||
Accrued Purchase Price and Other Holdbacks (see Note 6) | 0 | ||||||||
Fair Value of Common Stock Issued | 0 | ||||||||
Fair Value of Noncontrolling Interests | 0 | ||||||||
Total Consideration | $ 1,347,000 | $ 31,000 | 1,347,046 | ||||||
Fair Value of Identifiable Assets Acquired: | |||||||||
Cash | 34,307 | ||||||||
Accounts Receivable, Prepaid Expenses and Other Assets | 7,070 | ||||||||
Property, Plant and Equipment | 863,027 | ||||||||
Customer Relationship Intangible Assets | 0 | ||||||||
Operating lease right-of-use assets | 0 | ||||||||
Data Center In-Place Leases | 104,340 | ||||||||
Data Center Tenant Relationships | 77,362 | ||||||||
Data Center Above-Market Leases | 16,439 | ||||||||
Other Intangible Assets | 0 | ||||||||
Debt Assumed | 0 | ||||||||
Accounts Payable, Accrued Expenses and Other Liabilities | (36,230) | ||||||||
Operating Lease Liabilities | 0 | ||||||||
Deferred Income Taxes | 0 | ||||||||
Data Center Below-Market Leases | (11,421) | ||||||||
Total Fair Value of Identifiable Net Assets Acquired | 1,054,894 | ||||||||
Goodwill Initially Recorded | 292,152 | ||||||||
Series of Individually Immaterial Business Acquisitions and IODC | |||||||||
Consideration paid for acquisitions | |||||||||
Cash Paid (gross of cash acquired) | 1,779,124 | ||||||||
Accrued Purchase Price and Other Holdbacks (see Note 6) | 35,218 | ||||||||
Fair Value of Common Stock Issued | 0 | ||||||||
Fair Value of Noncontrolling Interests | 0 | ||||||||
Total Consideration | 1,814,342 | ||||||||
Fair Value of Identifiable Assets Acquired: | |||||||||
Cash | 44,534 | ||||||||
Accounts Receivable, Prepaid Expenses and Other Assets | 24,732 | ||||||||
Property, Plant and Equipment | 1,088,875 | ||||||||
Customer Relationship Intangible Assets | 44,622 | ||||||||
Data Center In-Place Leases | 140,470 | ||||||||
Data Center Tenant Relationships | 95,772 | ||||||||
Data Center Above-Market Leases | 18,820 | ||||||||
Other Intangible Assets | 0 | ||||||||
Debt Assumed | (12,312) | ||||||||
Accounts Payable, Accrued Expenses and Other Liabilities | (53,436) | ||||||||
Deferred Income Taxes | (43,218) | ||||||||
Data Center Below-Market Leases | (12,115) | ||||||||
Total Fair Value of Identifiable Net Assets Acquired | 1,336,744 | ||||||||
Goodwill Initially Recorded | 477,598 | ||||||||
EvoSwitch | |||||||||
Consideration paid for acquisitions | |||||||||
Cash Paid (gross of cash acquired) | $ 222,000 | € 189,000 | |||||||
Accrued Purchase Price and Other Holdbacks (see Note 6) | $ 18,824 | ||||||||
Santa Fe China Transaction | |||||||||
Consideration paid for acquisitions | |||||||||
Accrued Purchase Price and Other Holdbacks (see Note 6) | $ 16,771 | ||||||||
Total Consideration | $ 16,800 | ||||||||
Customer relationship intangible assets | |||||||||
Fair Value of Identifiable Assets Acquired: | |||||||||
Acquired finite-lived intangible assets, weighted average useful life | 16 years | 10 years | 12 years | ||||||
Data center in-place leases | |||||||||
Fair Value of Identifiable Assets Acquired: | |||||||||
Acquired finite-lived intangible assets, weighted average useful life | 6 years | ||||||||
Data center tenant relationships | |||||||||
Fair Value of Identifiable Assets Acquired: | |||||||||
Acquired finite-lived intangible assets, weighted average useful life | 9 years | ||||||||
Data center above-market leases | |||||||||
Fair Value of Identifiable Assets Acquired: | |||||||||
Acquired finite-lived intangible assets, weighted average useful life | 3 years | ||||||||
Data center below-market leases | |||||||||
Fair Value of Identifiable Assets Acquired: | |||||||||
Acquired finite-lived intangible assets, weighted average useful life | 7 years |
Income Taxes - Narrative (Detai
Income Taxes - Narrative (Details) € in Thousands | 12 Months Ended | ||||
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Jun. 30, 2019EUR (€) | Dec. 31, 2016USD ($) | |
Tax carryforwards | |||||
Transition tax | $ 160,000,000 | ||||
REIT taxable income | 70,900,000 | ||||
GILTI estimate | $ 0 | $ 41,944,000 | |||
Net operating loss carryforwards, tax effected | 99,240,000 | 92,952,000 | |||
Benefit for income taxes | $ (59,931,000) | $ (42,753,000) | $ (22,962,000) | ||
Federal tax rate | 21.00% | 21.00% | 35.00% | ||
Effective tax rate | 18.30% | 10.40% | 11.40% | ||
Tax adjustment relating to REIT | $ 40,577,000 | $ 35,165,000 | $ 78,873,000 | ||
Foreign tax rate differential provision (benefit) | 8,562,000 | 1,031,000 | (9,639,000) | ||
Tax benefit as a result of the resolution of a tax matter | 14,000,000 | ||||
Increase in valuation allowance (net operating losses) | (6,211,000) | (3,568,000) | 4,317,000 | ||
Tax expense | 24,791,000 | ||||
Incremental foreign earnings | 279,700,000 | ||||
Increase in gross interest and penalties recorded | 1,780,000 | 1,961,000 | 289,000 | ||
Accrued interest and penalties recorded | 9,282,000 | 7,557,000 | |||
Unrecognized tax benefits | 35,068,000 | 35,320,000 | $ 38,533,000 | $ 59,466,000 | |
Unrecognized tax benefits included in other long-term liabilities | 31,992,000 | 32,144,000 | |||
Deferred income taxes including unrecognized tax benefits | 3,076,000 | 3,176,000 | |||
Unrecognized tax benefits net of federal benefits | 32,311,000 | ||||
Unrecognized tax benefits that would impact tax rate | 7,400,000 | ||||
Unrecognized tax benefits that would impact tax rate, net of federal tax benefit | 4,587,000 | ||||
Foreign | |||||
Tax carryforwards | |||||
Net operating loss carryforwards, tax effected | $ 90,811,000 | ||||
Net operating loss carryforwards subject to valuation allowance (as a percent) | 64.00% | ||||
Tax and Customs Administration, Netherlands | Foreign | |||||
Tax carryforwards | |||||
VAT liability | $ 4,971,000 | € 16,800 | |||
Federal | |||||
Tax carryforwards | |||||
Net operating loss carryforwards, before tax effect | $ 152,743,000 | ||||
Net operating loss carryforwards, tax effected | 39,156,000 | ||||
Benefit for income taxes | $ 8,223,000 |
Income Taxes - Significant Comp
Income Taxes - Significant Components To Deferred Tax Assets and Deferred Tax Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Deferred Tax Assets: | ||
Accrued liabilities and other adjustments | $ 53,197 | $ 59,477 |
Net operating loss carryforwards | 99,240 | 92,952 |
Federal benefit of unrecognized tax benefits | 3,039 | 2,925 |
Valuation allowance | (60,003) | (55,666) |
Deferred tax assets | 95,473 | 99,688 |
Deferred Tax Liabilities: | ||
Other assets, principally due to differences in amortization | (177,645) | (166,469) |
Plant and equipment, principally due to differences in depreciation | (67,515) | (74,147) |
Other | (21,903) | (26,260) |
Deferred tax liabilities | (267,063) | (266,876) |
Net deferred tax liability | $ (171,590) | $ (167,188) |
Income Taxes - Current and Nonc
Income Taxes - Current and Noncurrent Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Income Tax Disclosure [Abstract] | ||
Noncurrent deferred tax assets (Included in Other, a component of Other assets, net) | $ 16,538 | $ 16,648 |
Deferred income taxes | $ (188,128) | $ (183,836) |
Income Taxes - Rollforward of V
Income Taxes - Rollforward of Valuation Allowance (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Roll forward of valuation allowance: | |||
Balance at Beginning of the Year | $ 55,666 | ||
Balance at the End of the Year | 60,003 | $ 55,666 | |
Valuation Allowance of Deferred Tax Assets | |||
Roll forward of valuation allowance: | |||
Balance at Beginning of the Year | 55,666 | 61,756 | $ 71,359 |
Charged (Credited) to Expense | 6,211 | 3,568 | (4,317) |
Other Increases/(Decreases) | (1,874) | (9,658) | (5,286) |
Balance at the End of the Year | $ 60,003 | $ 55,666 | $ 61,756 |
Income Taxes - Components Of In
Income Taxes - Components Of Income (Loss) From Continuing Operations (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||
United States | $ 203,225 | $ 203,078 | $ 162,763 |
Canada | 48,326 | 53,779 | 50,019 |
Other Foreign | 76,591 | 153,454 | (11,805) |
Income (Loss) from Continuing Operations Before Provision (Benefit) for Income Taxes | $ 328,142 | $ 410,311 | $ 200,977 |
Income Taxes - Income Tax Recon
Income Taxes - Income Tax Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Provision (benefit) for income taxes: | |||
Federal—current | $ 7,262 | $ 703 | $ 16,345 |
Federal—deferred | (3,356) | (4,162) | (12,655) |
State—current | 3,943 | 918 | 3,440 |
State—deferred | (1,126) | 627 | (1,276) |
Foreign—current | 49,350 | 45,371 | 42,532 |
Foreign—deferred | 3,858 | (704) | (25,424) |
Provision (Benefit) for Income Taxes | 59,931 | 42,753 | 22,962 |
Changes in income taxes resulting from: | |||
Computed expected tax provision | 68,910 | 86,165 | 70,342 |
Tax adjustment relating to REIT | (40,577) | (35,165) | (78,873) |
State taxes (net of federal tax benefit) | 2,115 | 1,599 | 2,692 |
Increase (decrease) in valuation allowance (net operating losses) | 6,211 | 3,568 | (4,317) |
Foreign repatriation | 0 | 0 | 29,476 |
U.S. Federal Rate Reduction | 0 | 0 | (4,685) |
Reserve (reversal) accrual and audit settlements (net of federal tax benefit) | 514 | (13,985) | (9,103) |
Foreign tax rate differential | 8,562 | 1,031 | (9,639) |
Disallowed foreign interest, Subpart F income, and other foreign taxes | 14,241 | 903 | 29,325 |
Other, net | (45) | (1,363) | (2,256) |
Provision (Benefit) for Income Taxes | $ 59,931 | $ 42,753 | $ 22,962 |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Reconciliation of unrecognized tax benefits: | |||
Gross tax contingencies - beginning of the period | $ 35,320 | $ 38,533 | $ 59,466 |
Gross additions based on tax positions related to the current year | 2,914 | 3,147 | 4,067 |
Gross additions for tax positions of prior years | 1,271 | 981 | 3,368 |
Gross reductions for tax positions of prior years | (299) | (2,865) | (2,789) |
Lapses of statutes | (4,034) | (4,462) | (2,629) |
Settlements | (104) | (14) | (22,950) |
Gross tax contingencies - end of the period | $ 35,068 | $ 35,320 | $ 38,533 |
Quarterly Results of Operatio_3
Quarterly Results of Operations (Unaudited) (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Total revenues | $ 1,079,590,000 | $ 1,062,224,000 | $ 1,066,907,000 | $ 1,053,863,000 | $ 4,262,584,000 | ||||||
Total revenues | $ 1,061,489,000 | $ 1,060,991,000 | $ 1,060,823,000 | $ 1,042,458,000 | $ 4,225,761,000 | $ 3,845,578,000 | |||||
Operating income (loss) | 206,074,000 | 223,474,000 | 193,115,000 | 158,675,000 | 254,053,000 | 195,635,000 | 201,460,000 | 157,119,000 | 781,338,000 | 808,267,000 | 634,051,000 |
Income (loss) from continuing operations | 37,104,000 | 108,284,000 | 92,347,000 | 30,476,000 | 158,557,000 | 77,349,000 | 92,263,000 | 39,389,000 | 268,211,000 | 367,558,000 | 178,015,000 |
Total (loss) income from discontinued operations | 0 | 0 | 128,000 | (24,000) | 0 | (11,605,000) | (360,000) | (462,000) | 104,000 | (12,427,000) | (6,291,000) |
Net Income (Loss) | 37,104,000 | 108,284,000 | 92,475,000 | 30,452,000 | 158,557,000 | 65,744,000 | 91,903,000 | 38,927,000 | 268,315,000 | 355,131,000 | 171,724,000 |
Net income (loss) attributable to Iron Mountain Incorporated | $ 37,700,000 | $ 107,675,000 | $ 92,441,000 | $ 29,561,000 | $ 157,844,000 | $ 65,869,000 | $ 91,761,000 | $ 38,459,000 | $ 267,377,000 | $ 353,933,000 | $ 170,113,000 |
Earnings (Losses) per Share—Basic: | |||||||||||
Income (loss) per share from continuing operations (in dollars per share) | $ 0.13 | $ 0.37 | $ 0.32 | $ 0.10 | $ 0.55 | $ 0.27 | $ 0.32 | $ 0.14 | $ 0.93 | $ 1.28 | $ 0.66 |
Total (loss) income per share from discontinued operations (in dollars per share) | 0 | 0 | 0 | 0 | 0 | (0.04) | 0 | 0 | 0 | (0.04) | (0.02) |
Net income (loss) per share attributable to Iron Mountain Incorporated (in dollars per share) | 0.13 | 0.37 | 0.32 | 0.10 | 0.55 | 0.23 | 0.32 | 0.13 | 0.93 | 1.24 | 0.64 |
Earnings (Losses) per Share—Diluted: | |||||||||||
Income (loss) per share from continuing operations (in dollars per share) | 0.13 | 0.37 | 0.32 | 0.10 | 0.55 | 0.27 | 0.32 | 0.14 | 0.93 | 1.28 | 0.66 |
Total (loss) income per share from discontinued operations (in dollars per share) | 0 | 0 | 0 | 0 | 0 | (0.04) | 0 | 0 | 0 | (0.04) | (0.02) |
Net income (loss) per share attributable to Iron Mountain Incorporated (in dollars per share) | $ 0.13 | $ 0.37 | $ 0.32 | $ 0.10 | $ 0.55 | $ 0.23 | $ 0.32 | $ 0.13 | $ 0.93 | $ 1.23 | $ 0.64 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||
Increase in gains (losses) on foreign currency transactions | $ (63,000,000) | $ 20,000,000 | |||||||||
Restructuring Charges | 48,600,000 | $ 48,597,000 | $ 0 | $ 0 | |||||||
(Gain) Loss on disposal/write-down of property, plant and equipment, net | 37,500,000 | ||||||||||
Decrease in tax provision | $ 5,100,000 | 11,200,000 | |||||||||
Initial United States Divestments | Discontinued Operations, Disposed of by Sale | |||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||
Charge related to resolution of post-closing adjustment to Access Contingent Consideration | 11,100,000 | ||||||||||
United Kingdom | |||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Total revenues | $ 274,931,000 | ||||||||||
Total revenues | $ 280,993,000 | $ 246,373,000 | |||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||
(Gain) Loss on disposal/write-down of property, plant and equipment, net | 62,500,000 | ||||||||||
Income (Loss) From Continuing Operations | |||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||
Immaterial misstatement | $ 274,000 | $ 1,279,000 | $ 1,640,000 | $ 6,225,000 |
Segment Information - Additiona
Segment Information - Additional Information (Details) | 12 Months Ended |
Dec. 31, 2019segment | |
Segment Reporting [Abstract] | |
Number of operating segments | 3 |
Segment Information - Revenue a
Segment Information - Revenue and Expenditures (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Segment information | |||||||||||
Total Revenues | $ 1,079,590 | $ 1,062,224 | $ 1,066,907 | $ 1,053,863 | $ 4,262,584 | ||||||
Storage rental | 2,681,087 | ||||||||||
Revenues | $ 1,061,489 | $ 1,060,991 | $ 1,060,823 | $ 1,042,458 | $ 4,225,761 | $ 3,845,578 | |||||
Depreciation and Amortization | 658,201 | 639,514 | 522,376 | ||||||||
Depreciation | 456,323 | 452,740 | 406,283 | ||||||||
Amortization | 201,878 | 186,774 | 116,093 | ||||||||
Adjusted EBITDA | 1,437,605 | 1,424,824 | 1,243,573 | ||||||||
Total Assets | 13,816,816 | 11,857,218 | 13,816,816 | 11,857,218 | 10,975,387 | ||||||
Expenditures for Segment Assets | 882,867 | 2,317,306 | 638,021 | ||||||||
Capital Expenditures | 692,983 | 460,062 | 343,131 | ||||||||
Cash Paid for Acquisitions, Net of Cash Acquired | 58,237 | 1,758,557 | 219,705 | ||||||||
Acquisitions of Customer Relationships, Customer Inducements, Contract Fulfillment Costs and third-party commissions | 131,647 | 98,687 | 75,185 | ||||||||
Global RIM Business | |||||||||||
Segment information | |||||||||||
Total Revenues | 3,812,433 | ||||||||||
Storage rental | 2,320,076 | ||||||||||
Revenues | 3,842,600 | 3,706,110 | |||||||||
Depreciation and Amortization | 454,652 | 472,155 | 458,634 | ||||||||
Depreciation | 330,534 | 341,384 | 351,915 | ||||||||
Amortization | 124,118 | 130,771 | 106,719 | ||||||||
Adjusted EBITDA | 1,563,223 | 1,569,353 | 1,470,579 | ||||||||
Total Assets | 10,753,218 | 9,135,198 | 10,753,218 | 9,135,198 | 9,151,755 | ||||||
Expenditures for Segment Assets | 398,690 | 443,634 | 424,628 | ||||||||
Capital Expenditures | 248,232 | 254,308 | 262,474 | ||||||||
Cash Paid for Acquisitions, Net of Cash Acquired | 54,717 | 93,217 | 86,969 | ||||||||
Acquisitions of Customer Relationships, Customer Inducements, Contract Fulfillment Costs and third-party commissions | 95,741 | 96,109 | 75,185 | ||||||||
Global Data Center Business | |||||||||||
Segment information | |||||||||||
Total Revenues | 257,151 | ||||||||||
Storage rental | 246,925 | ||||||||||
Revenues | 228,983 | 37,694 | |||||||||
Depreciation and Amortization | 133,927 | 105,680 | 10,224 | ||||||||
Depreciation | 78,939 | 58,707 | 8,617 | ||||||||
Amortization | 54,988 | 46,973 | 1,607 | ||||||||
Adjusted EBITDA | 121,517 | 99,574 | 11,275 | ||||||||
Total Assets | 2,535,848 | 2,217,505 | 2,535,848 | 2,217,505 | 382,198 | ||||||
Expenditures for Segment Assets | 427,935 | 1,794,386 | 86,543 | ||||||||
Capital Expenditures | 392,029 | 152,739 | 32,015 | ||||||||
Cash Paid for Acquisitions, Net of Cash Acquired | 0 | 1,639,427 | 54,528 | ||||||||
Acquisitions of Customer Relationships, Customer Inducements, Contract Fulfillment Costs and third-party commissions | 35,906 | 2,220 | 0 | ||||||||
Corporate and Other Business | |||||||||||
Segment information | |||||||||||
Total Revenues | 193,000 | ||||||||||
Storage rental | 114,086 | ||||||||||
Revenues | 154,178 | 101,774 | |||||||||
Depreciation and Amortization | 69,622 | 61,679 | 53,518 | ||||||||
Depreciation | 46,850 | 52,649 | 45,751 | ||||||||
Amortization | 22,772 | 9,030 | 7,767 | ||||||||
Adjusted EBITDA | (247,135) | (244,103) | (238,281) | ||||||||
Total Assets | $ 527,750 | 504,515 | 527,750 | 504,515 | 1,441,434 | ||||||
Expenditures for Segment Assets | 56,242 | 79,286 | 126,850 | ||||||||
Capital Expenditures | 52,722 | 53,015 | 48,642 | ||||||||
Cash Paid for Acquisitions, Net of Cash Acquired | 3,520 | 25,913 | 78,208 | ||||||||
Acquisitions of Customer Relationships, Customer Inducements, Contract Fulfillment Costs and third-party commissions | 0 | 358 | 0 | ||||||||
Storage rental | |||||||||||
Segment information | |||||||||||
Revenues | 2,622,455 | 2,377,557 | |||||||||
Storage rental | Global RIM Business | |||||||||||
Segment information | |||||||||||
Revenues | 2,301,344 | 2,261,831 | |||||||||
Storage rental | Global Data Center Business | |||||||||||
Segment information | |||||||||||
Revenues | 218,675 | 35,839 | |||||||||
Storage rental | Corporate and Other Business | |||||||||||
Segment information | |||||||||||
Revenues | 102,436 | 79,887 | |||||||||
Service | |||||||||||
Segment information | |||||||||||
Revenues | 1,581,497 | 1,603,306 | 1,468,021 | ||||||||
Service | Global RIM Business | |||||||||||
Segment information | |||||||||||
Revenues | 1,492,357 | 1,541,256 | 1,444,279 | ||||||||
Service | Global Data Center Business | |||||||||||
Segment information | |||||||||||
Revenues | 10,226 | 10,308 | 1,855 | ||||||||
Service | Corporate and Other Business | |||||||||||
Segment information | |||||||||||
Revenues | $ 78,914 | 51,742 | 21,887 | ||||||||
ASU 2016-02 | Corporate and Other Business | |||||||||||
Segment information | |||||||||||
Total Assets | $ 4,971 | $ 4,971 | $ 2,985 |
Segment Information - Reconcili
Segment Information - Reconciliation of Adjusted EBITDA to Income (Loss) from Continuing Operations (Details) - USD ($) $ in Thousands | Oct. 01, 2017 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Reconciliation of Adjusted EBITDA to income from continuing operations | ||||||||||||
Adjusted EBITDA | $ 1,437,605 | $ 1,424,824 | $ 1,243,573 | |||||||||
Provision (Benefit) for Income Taxes | 59,931 | 42,753 | 22,962 | |||||||||
Other Expense (Income), Net | 33,898 | (11,692) | 79,429 | |||||||||
Interest Expense (Income), Net | 419,298 | 409,648 | 353,645 | |||||||||
(Gain) Loss on disposal/write-down of property, plant and equipment, net | (63,824) | (73,622) | (766) | |||||||||
Depreciation and amortization | 658,201 | 639,514 | 522,376 | |||||||||
Significant Acquisition Costs | 13,293 | 50,665 | 84,901 | |||||||||
Restructuring Charges | 48,597 | 0 | 0 | |||||||||
Intangible impairments | $ 3,011 | 0 | 0 | 3,011 | ||||||||
Income (Loss) from Continuing Operations | $ 37,104 | $ 108,284 | $ 92,347 | $ 30,476 | $ 158,557 | $ 77,349 | $ 92,263 | $ 39,389 | 268,211 | 367,558 | 178,015 | |
Recall Transaction and IODC Transaction | ||||||||||||
Reconciliation of Adjusted EBITDA to income from continuing operations | ||||||||||||
Significant Acquisition Costs | $ 13,293 | $ 50,665 | $ 84,901 |
Segment Information - Revenue_2
Segment Information - Revenue and Asset Information by Geography and Service Line (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Revenues by product and service lines | |||||||||||
Total Revenues | $ 1,079,590 | $ 1,062,224 | $ 1,066,907 | $ 1,053,863 | $ 4,262,584 | ||||||
Revenues | $ 1,061,489 | $ 1,060,991 | $ 1,060,823 | $ 1,042,458 | $ 4,225,761 | $ 3,845,578 | |||||
Long-Lived Assets | 12,580,477 | 10,649,104 | 12,580,477 | 10,649,104 | 9,025,072 | ||||||
Records Management | |||||||||||
Revenues by product and service lines | |||||||||||
Total Revenues | 2,995,146 | ||||||||||
Revenues | 2,967,922 | 2,847,691 | |||||||||
Data Management | |||||||||||
Revenues by product and service lines | |||||||||||
Total Revenues | 584,128 | ||||||||||
Revenues | 596,544 | 574,251 | |||||||||
Information Destruction | |||||||||||
Revenues by product and service lines | |||||||||||
Total Revenues | 426,159 | ||||||||||
Revenues | 432,312 | 385,942 | |||||||||
Data Center | |||||||||||
Revenues by product and service lines | |||||||||||
Total Revenues | 257,151 | ||||||||||
Revenues | 228,983 | 37,694 | |||||||||
United States | |||||||||||
Revenues by product and service lines | |||||||||||
Total Revenues | 2,632,586 | ||||||||||
Revenues | 2,579,847 | 2,310,296 | |||||||||
Long-Lived Assets | 7,862,262 | 6,902,232 | 7,862,262 | 6,902,232 | 5,476,551 | ||||||
United Kingdom | |||||||||||
Revenues by product and service lines | |||||||||||
Total Revenues | 274,931 | ||||||||||
Revenues | 280,993 | 246,373 | |||||||||
Long-Lived Assets | 755,859 | 547,768 | 755,859 | 547,768 | 529,233 | ||||||
Canada | |||||||||||
Revenues by product and service lines | |||||||||||
Total Revenues | 243,033 | ||||||||||
Revenues | 249,505 | 243,625 | |||||||||
Long-Lived Assets | 556,591 | 453,398 | 556,591 | 453,398 | 500,396 | ||||||
Australia | |||||||||||
Revenues by product and service lines | |||||||||||
Total Revenues | 143,511 | ||||||||||
Revenues | 155,367 | 157,333 | |||||||||
Long-Lived Assets | 530,755 | 442,755 | 530,755 | 442,755 | 470,432 | ||||||
Remaining Countries | |||||||||||
Revenues by product and service lines | |||||||||||
Total Revenues | 968,523 | ||||||||||
Revenues | 960,049 | 887,951 | |||||||||
Long-Lived Assets | $ 2,875,010 | $ 2,302,951 | 2,875,010 | 2,302,951 | 2,048,460 | ||||||
Global RIM Business | |||||||||||
Revenues by product and service lines | |||||||||||
Total Revenues | 3,812,433 | ||||||||||
Revenues | 3,842,600 | 3,706,110 | |||||||||
Global RIM Business | Records Management | |||||||||||
Revenues by product and service lines | |||||||||||
Total Revenues | 2,866,192 | ||||||||||
Revenues | 2,871,253 | 2,778,024 | |||||||||
Global RIM Business | Data Management | |||||||||||
Revenues by product and service lines | |||||||||||
Total Revenues | 520,082 | ||||||||||
Revenues | 539,035 | 542,148 | |||||||||
Global RIM Business | Information Destruction | |||||||||||
Revenues by product and service lines | |||||||||||
Total Revenues | 426,159 | ||||||||||
Revenues | 432,312 | 385,938 | |||||||||
Global RIM Business | Data Center | |||||||||||
Revenues by product and service lines | |||||||||||
Total Revenues | 0 | ||||||||||
Revenues | 0 | 0 | |||||||||
Global Data Center Business | |||||||||||
Revenues by product and service lines | |||||||||||
Total Revenues | 257,151 | ||||||||||
Revenues | 228,983 | 37,694 | |||||||||
Global Data Center Business | Records Management | |||||||||||
Revenues by product and service lines | |||||||||||
Total Revenues | 0 | ||||||||||
Revenues | 0 | 0 | |||||||||
Global Data Center Business | Data Management | |||||||||||
Revenues by product and service lines | |||||||||||
Total Revenues | 0 | ||||||||||
Revenues | 0 | 0 | |||||||||
Global Data Center Business | Information Destruction | |||||||||||
Revenues by product and service lines | |||||||||||
Total Revenues | 0 | ||||||||||
Revenues | 0 | 0 | |||||||||
Global Data Center Business | Data Center | |||||||||||
Revenues by product and service lines | |||||||||||
Total Revenues | 257,151 | ||||||||||
Revenues | 228,983 | 37,694 | |||||||||
Corporate and Other Business | |||||||||||
Revenues by product and service lines | |||||||||||
Total Revenues | 193,000 | ||||||||||
Revenues | 154,178 | 101,774 | |||||||||
Corporate and Other Business | Records Management | |||||||||||
Revenues by product and service lines | |||||||||||
Total Revenues | 128,954 | ||||||||||
Revenues | 96,669 | 69,667 | |||||||||
Corporate and Other Business | Data Management | |||||||||||
Revenues by product and service lines | |||||||||||
Total Revenues | 64,046 | ||||||||||
Revenues | 57,509 | 32,103 | |||||||||
Corporate and Other Business | Information Destruction | |||||||||||
Revenues by product and service lines | |||||||||||
Total Revenues | 0 | ||||||||||
Revenues | 0 | 4 | |||||||||
Corporate and Other Business | Data Center | |||||||||||
Revenues by product and service lines | |||||||||||
Total Revenues | $ 0 | ||||||||||
Revenues | $ 0 | $ 0 |
Segment Information - Significa
Segment Information - Significant Acquisition Costs by Segment (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Segment information | |||
Total Significant Acquisition Costs | $ 13,293 | $ 50,665 | $ 84,901 |
Global RIM Business | |||
Segment information | |||
Total Significant Acquisition Costs | 8,223 | 20,590 | 47,722 |
Global Data Center Business | |||
Segment information | |||
Total Significant Acquisition Costs | 337 | 11,423 | 0 |
Corporate and Other Business | |||
Segment information | |||
Total Significant Acquisition Costs | $ 4,733 | $ 18,652 | $ 37,179 |
Commitments and Contingencies -
Commitments and Contingencies - Purchase Commitments (Details) $ in Thousands | Dec. 31, 2019USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
2020 | $ 134,127 |
2021 | 68,208 |
2022 | 32,480 |
2023 | 2,004 |
2024 | 1,985 |
Thereafter | 340 |
Total | $ 239,144 |
Commitments and Contingencies_2
Commitments and Contingencies - Additional Information (Details) € in Thousands, box in Thousands, $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||
Dec. 31, 2018USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2019USD ($)customerlawsuitclaim | Dec. 31, 2019EUR (€)customerlawsuit | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Jun. 30, 2019EUR (€) | Jan. 31, 2015customerbox | |
Commitments and Contingencies | ||||||||
Self-insured accrual | $ 41,328 | $ 41,328 | $ 43,127 | $ 41,328 | ||||
Gain on disposal/write-down of property, plant and equipment (excluding real estate), net | 63,824 | 74,134 | $ 766 | |||||
Insurance Settlement | ||||||||
Commitments and Contingencies | ||||||||
Loss contingencies, reasonably possible loss exposure in excess of the amount currently accrued | $ 6,000 | |||||||
Italy Fire | ||||||||
Commitments and Contingencies | ||||||||
Number of customer lawsuits | customer | 6 | 6 | ||||||
Number of settled lawsuits | lawsuit | 4 | 4 | ||||||
Number of pending lawsuits | lawsuit | 2 | |||||||
Damages sought (Euros) | € | € 42,600 | |||||||
Argentina Fire | ||||||||
Commitments and Contingencies | ||||||||
Facility revenue as a percentage of consolidated revenues (less than) | 0.50% | 0.50% | ||||||
Insurance proceeds received | 13,700 | |||||||
Gain on disposal/write-down of property, plant and equipment (excluding real estate), net | 8,814 | |||||||
Insurance Claims | ||||||||
Commitments and Contingencies | ||||||||
Number of pending lawsuits | claim | 1 | |||||||
Number of cartons of customer records lost | box | 900 | |||||||
Number of customers impacted by fire | customer | 1,200 | |||||||
Tax and Customs Administration, Netherlands | Foreign | ||||||||
Commitments and Contingencies | ||||||||
VAT liability | $ 4,971 | $ 4,971 | $ 4,971 | € 16,800 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Makespace | |
Related Party Transaction [Line Items] | |
Revenue from related party | $ 22,500 |
Stockholders' Equity Matters -
Stockholders' Equity Matters - Dividends Declared (Details) - USD ($) $ / shares in Units, $ in Thousands | Jan. 02, 2020 | Oct. 31, 2019 | Oct. 02, 2019 | Jul. 26, 2019 | Jul. 02, 2019 | May 22, 2019 | Apr. 02, 2019 | Feb. 07, 2019 | Jan. 03, 2019 | Oct. 25, 2018 | Oct. 02, 2018 | Jul. 24, 2018 | Jul. 02, 2018 | May 24, 2018 | Apr. 02, 2018 | Feb. 14, 2018 | Jan. 02, 2018 | Oct. 24, 2017 | Oct. 02, 2017 | Jul. 27, 2017 | Jul. 03, 2017 | May 24, 2017 | Apr. 03, 2017 | Feb. 15, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Subsequent Event [Line Items] | |||||||||||||||||||||||||||
Dividends per share (in dollars per share) | $ 0.6185 | $ 0.6110 | $ 0.6110 | $ 0.6110 | $ 0.6110 | $ 0.5875 | $ 0.5875 | $ 0.5875 | $ 0.5875 | $ 0.5500 | $ 0.5500 | $ 0.5500 | $ 2.45 | $ 2.38 | $ 2.27 | ||||||||||||
Dividends declared | $ 175,434 | $ 175,389 | $ 175,242 | $ 174,935 | $ 168,148 | $ 168,078 | $ 167,969 | $ 166,319 | $ 146,772 | $ 145,417 | $ 145,235 | $ 708,561 | $ 683,519 | $ 606,476 | |||||||||||||
Subsequent Event | |||||||||||||||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||||||||||||||
Dividends declared | $ 177,687 |
Stockholders' Equity Matters _2
Stockholders' Equity Matters - Additional Information (Details) | Oct. 31, 2019$ / shares | Jul. 26, 2019$ / shares | May 22, 2019$ / shares | Feb. 07, 2019$ / shares | Oct. 25, 2018$ / shares | Jul. 24, 2018$ / shares | May 24, 2018$ / shares | Feb. 14, 2018$ / shares | Jan. 02, 2018USD ($) | Dec. 12, 2017USD ($)bank$ / sharesshares | Oct. 24, 2017$ / shares | Jul. 27, 2017$ / shares | May 24, 2017$ / shares | Feb. 15, 2017$ / shares | Oct. 31, 2017USD ($)bank | Dec. 31, 2019USD ($)$ / sharesshares | Dec. 31, 2018USD ($)$ / sharesshares | Dec. 31, 2017USD ($)$ / sharesshares |
Class of Stock [Line Items] | ||||||||||||||||||
Amount of declared distributions | $ 703,752,000 | $ 679,130,000 | $ 603,743,000 | |||||||||||||||
Dividends per share (in dollars per share) | $ / shares | $ 0.6185 | $ 0.6110 | $ 0.6110 | $ 0.6110 | $ 0.6110 | $ 0.5875 | $ 0.5875 | $ 0.5875 | $ 0.5875 | $ 0.5500 | $ 0.5500 | $ 0.5500 | $ 2.45 | $ 2.38 | $ 2.27 | |||
Percent of dividends paid | 100.00% | 100.00% | 100.00% | |||||||||||||||
Sale of stock consideration received on transaction, gross | $ 0 | $ 8,716,000 | $ 59,129,000 | |||||||||||||||
Common stock, par value (in dollars per share) | $ / shares | $ 0.01 | $ 0.01 | ||||||||||||||||
At The Market (ATM) Equity Program | ||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||
Number of banks | bank | 10 | |||||||||||||||||
Sale of stock, authorized amount | $ 500,000,000 | |||||||||||||||||
Sale of stock, number of shares issued in transaction (in shares) | shares | 0 | 273,486 | 1,481,053 | |||||||||||||||
Sale of stock consideration received on transaction, gross | $ 8,800,000 | $ 60,000,000 | ||||||||||||||||
Sale of stock, consideration received on transaction | 8,716,000 | 59,100,000 | ||||||||||||||||
Payment of stock trading commission costs | $ 90,000 | $ 900,000 | ||||||||||||||||
Sale of stock, remaining aggregate sale price of stock available for distribution | $ 431,200,000 | |||||||||||||||||
Equity Offering | ||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||
Number of banks | bank | 16 | |||||||||||||||||
Sale of stock, number of shares issued in transaction (in shares) | shares | 14,500,000 | |||||||||||||||||
Sale of stock, consideration received on transaction | $ 516,462,000 | |||||||||||||||||
Common stock, par value (in dollars per share) | $ / shares | $ 37 | |||||||||||||||||
Payments of stock issuance costs per share (in dollars per share) | $ / shares | $ 1.38195 | |||||||||||||||||
Over-Allotment Option | ||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||
Sale of stock, number of shares issued in transaction (in shares) | shares | 2,175,000 | |||||||||||||||||
Sale of stock, consideration received on transaction | $ 76,200,000 | |||||||||||||||||
Capital gains | ||||||||||||||||||
Class of Stock [Line Items] | ||||||||||||||||||
Percent of dividends paid | 14.70% | 5.80% | 0.00% |
Stockholders' Equity Matters _3
Stockholders' Equity Matters - Classification of Dividends Paid (Details) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Class of Stock [Line Items] | |||
Percent of dividends paid | 100.00% | 100.00% | 100.00% |
Nonqualified ordinary dividends | |||
Class of Stock [Line Items] | |||
Percent of dividends paid | 54.80% | 83.00% | 82.10% |
Qualified ordinary dividends | |||
Class of Stock [Line Items] | |||
Percent of dividends paid | 4.50% | 4.80% | 17.90% |
Capital gains | |||
Class of Stock [Line Items] | |||
Percent of dividends paid | 14.70% | 5.80% | 0.00% |
Return of capital | |||
Class of Stock [Line Items] | |||
Percent of dividends paid | 26.00% | 6.40% | 0.00% |
Divestments - Additional Inform
Divestments - Additional Information (Details) - USD ($) $ in Thousands | Mar. 19, 2019 | May 30, 2017 | May 04, 2016 | Mar. 31, 2019 | Jun. 30, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 09, 2020 | Sep. 28, 2018 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||
Investments in joint ventures | $ 19,222 | $ 0 | $ 0 | |||||||
Gain on divestiture | 0 | 0 | 38,869 | |||||||
Net proceeds from divestments | 0 | 1,019 | 29,236 | |||||||
Disposal Group, Not Discontinued Operations | Consumer Storage | ||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||
Gain on divestiture | $ 4,200 | |||||||||
Disposal Group, Not Discontinued Operations | Russia and Ukraine Divestment | ||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||
Gain on divestiture | $ 38,869 | $ 38,869 | ||||||||
Ownership interest after disposal | 25.00% | |||||||||
Cumulative translation adjustment | $ 29,100 | |||||||||
Carrying value of net assets excluding goodwill | 4,716 | |||||||||
Goodwill | 3,515 | |||||||||
Disposal Group, Not Discontinued Operations | Other Assets | Russia and Ukraine Divestment | ||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||
Fair value of previously held equity interests | 18,000 | |||||||||
Equity method investments | $ 20,869 | |||||||||
Discontinued Operations, Disposed of by Sale | IMFS | ||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||
Disposal consideration | $ 3,000 | |||||||||
Discontinued Operations, Disposed of by Sale | Initial United States Divestments | ||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||
Net proceeds from divestments | $ 25,000 | |||||||||
Corporate Joint Venture | Makespace | ||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||
Investments in joint ventures | $ 20,000 | |||||||||
Equity interest | 34.00% | |||||||||
Fair value of previously held equity interests | $ 27,500 | |||||||||
Equity method investments | 18,570 | |||||||||
Corporate Joint Venture | OSG Investment | ||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||
Equity method investments | $ 17,012 | $ 17,514 | ||||||||
Subsequent Event | OSG Acquisition | ||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||
Equity interest acquired | 75.00% |
Divestments - Results of Operat
Divestments - Results of Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||
Income (Loss) from Discontinued Operations, Net of Tax | $ 0 | $ 0 | $ 128 | $ (24) | $ 0 | $ (11,605) | $ (360) | $ (462) | $ 104 | $ (12,427) | $ (6,291) |
Recall Divestments | Disposal Group, Disposed of by Sale, Not Discontinued Operations | |||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||
Total Revenues | 0 | 0 | 0 | ||||||||
Income (Loss) from Discontinued Operations Before Provision (Benefit) for Income Taxes | 104 | (12,574) | (8,118) | ||||||||
(Benefit) Provision for Income Taxes | 0 | (147) | (1,827) | ||||||||
Income (Loss) from Discontinued Operations, Net of Tax | $ 104 | $ (12,427) | $ (6,291) |
Restructuring Charges - Additio
Restructuring Charges - Additional Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | 27 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2021 | |
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring Charges | $ 48,600 | $ 48,597 | $ 0 | $ 0 | |
Forecast | Project Summit Costs | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring Charges | $ 240,000 |
Restructuring Charges - Restruc
Restructuring Charges - Restructuring Charges (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Charges | $ 48,600 | $ 48,597 | $ 0 | $ 0 |
Global RIM Business | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Charges | 21,900 | |||
Global Data Center Business | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Charges | 306 | |||
Corporate and Other Business | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Charges | $ 26,391 |
Subsequent Events (Details)
Subsequent Events (Details) - OSG Acquisition - Subsequent Event $ in Thousands | Jan. 09, 2020USD ($) | Jan. 09, 2020RUB (₽) |
Subsequent Event [Line Items] | ||
Equity interest acquired | 75.00% | 75.00% |
Cash consideration | $ 95,100 | ₽ 6,026,020,000 |
SCHEDULE III - SCHEDULE OF RE_2
SCHEDULE III - SCHEDULE OF REAL ESTATE AND ACCUMULATED DEPRECIATION - Additional Information (Details) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2019USD ($)facility | Dec. 31, 2018USD ($) | |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract] | ||||
Number of facilities leased | facility | 1,150 | |||
Gross Amount of Real Estate Assets, As Reported on Schedule III | $ 3,700,307 | $ 2,707,925 | $ 3,856,515 | $ 3,700,307 |
Book value of racking included in leased facilities | 1,321,159 | |||
Book value of financing leases | 439,166 | |||
Book value of construction in progress | 280,108 | |||
Book value of other | 73,182 | |||
Total Reconciling Items | 2,113,615 | |||
Gross Amount of Real Estate Assets, As Disclosed in Note 2.f. | 5,970,130 | |||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | 1,072,013 | 909,092 | 1,072,013 | 1,011,050 |
Accumulated Depreciation, Non-Real Estate Assets | 1,412,193 | |||
Accumulated Depreciation, Racking In Lease Facilities | 817,069 | |||
Accumulated Depreciation, Financing Leases | 124,594 | |||
Accumulated Depreciation, Reconciling Items | 2,353,856 | |||
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $ 3,425,869 | 3,111,392 | ||
Activity in Real Estate | ||||
Gross amount at beginning of period | 3,700,307 | 2,707,925 | ||
Additions during period: | ||||
Discretionary capital projects | 278,508 | 155,901 | ||
Acquisitions | 0 | 918,091 | ||
Other adjustments | 25,077 | 0 | ||
Foreign currency translation fluctuations | 5,978 | (58,798) | ||
Total additions | 309,563 | 1,015,194 | ||
Deductions during period: | ||||
Cost of real estate sold, disposed or written-down | (153,355) | (22,812) | ||
Gross amount at end of period | 3,856,515 | 3,700,307 | ||
Change in accumulated depreciation | ||||
Gross amount of accumulation depreciation at beginning of year: | 1,011,050 | 909,092 | ||
Additions during period: | ||||
Depreciation | 122,366 | 125,280 | ||
Other adjustments | 1,314 | 0 | ||
Foreign currency translation fluctuations | 3,514 | (16,016) | ||
Total additions | 127,194 | 109,264 | ||
Deductions during period | ||||
Amount of accumulated depreciation for real estate assets sold, disposed or written-down | (66,231) | (7,306) | ||
Gross amount of end of period | $ 1,072,013 | $ 1,011,050 | ||
Aggregate Cost of Real Estate Assets | $ 3,812,000 |
SCHEDULE III - SCHEDULE OF RE_3
SCHEDULE III - SCHEDULE OF REAL ESTATE AND ACCUMULATED DEPRECIATION (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($)facility | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 298 | ||
Encumbrances | $ 1,814 | ||
Initial cost to Company | 2,437,201 | ||
Cost capitalized subsequent to acquisition | 1,419,314 | ||
Gross amount carried at close of current period | 3,856,515 | $ 3,700,307 | $ 2,707,925 |
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,072,013 | $ 1,011,050 | $ 909,092 |
Number of facilities leased | facility | 1,150 | ||
North America | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 195 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,980,277 | ||
Cost capitalized subsequent to acquisition | 1,148,758 | ||
Gross amount carried at close of current period | 3,129,035 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 856,220 | ||
United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 179 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,908,077 | ||
Cost capitalized subsequent to acquisition | 1,070,345 | ||
Gross amount carried at close of current period | 2,978,422 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 791,249 | ||
Canada | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 16 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 72,200 | ||
Cost capitalized subsequent to acquisition | 78,413 | ||
Gross amount carried at close of current period | 150,613 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 64,971 | ||
Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 57 | ||
Encumbrances | $ 582 | ||
Initial cost to Company | 231,658 | ||
Cost capitalized subsequent to acquisition | 122,557 | ||
Gross amount carried at close of current period | 354,215 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 138,588 | ||
Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Latin America | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 37 | ||
Encumbrances | $ 1,232 | ||
Initial cost to Company | 116,111 | ||
Cost capitalized subsequent to acquisition | 115,240 | ||
Gross amount carried at close of current period | 231,351 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 64,325 | ||
Asia Pacific | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 7 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 107,384 | ||
Cost capitalized subsequent to acquisition | 30,310 | ||
Gross amount carried at close of current period | 137,694 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 12,383 | ||
Australia | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 2 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,771 | ||
Cost capitalized subsequent to acquisition | 2,449 | ||
Gross amount carried at close of current period | 4,220 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 497 | ||
140 Oxmoor Ct, Birmingham, Alabama | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,322 | ||
Cost capitalized subsequent to acquisition | 953 | ||
Gross amount carried at close of current period | 2,275 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,107 | ||
140 Oxmoor Ct, Birmingham, Alabama | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
1420 North Fiesta Blvd, Gilbert, Arizona | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,637 | ||
Cost capitalized subsequent to acquisition | 2,737 | ||
Gross amount carried at close of current period | 4,374 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,937 | ||
1420 North Fiesta Blvd, Gilbert, Arizona | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
4802 East Van Buren, Phoenix, Arizona | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 15,599 | ||
Cost capitalized subsequent to acquisition | 141,274 | ||
Gross amount carried at close of current period | 156,873 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 257 | ||
4802 East Van Buren, Phoenix, Arizona | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
615 North 48th Street, Phoenix, Arizona | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 423,107 | ||
Cost capitalized subsequent to acquisition | 15,322 | ||
Gross amount carried at close of current period | 438,429 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 28,395 | ||
615 North 48th Street, Phoenix, Arizona | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
2955 S. 18th Place, Phoenix, Arizona | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 12,178 | ||
Cost capitalized subsequent to acquisition | 11,461 | ||
Gross amount carried at close of current period | 23,639 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 5,227 | ||
2955 S. 18th Place, Phoenix, Arizona | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
4449 South 36th St, Phoenix, Arizona | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 7,305 | ||
Cost capitalized subsequent to acquisition | 1,045 | ||
Gross amount carried at close of current period | 8,350 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 5,002 | ||
4449 South 36th St, Phoenix, Arizona | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
8521 E. Princess Drive, Scottsdale, Arizona | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 87,865 | ||
Cost capitalized subsequent to acquisition | 1,302 | ||
Gross amount carried at close of current period | 89,167 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 8,139 | ||
8521 E. Princess Drive, Scottsdale, Arizona | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
13379 Jurupa Ave, Fontana, California | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 10,472 | ||
Cost capitalized subsequent to acquisition | 8,714 | ||
Gross amount carried at close of current period | 19,186 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 9,930 | ||
13379 Jurupa Ave, Fontana, California | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
600 Burning Tree Rd, Fullerton, California | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 4,762 | ||
Cost capitalized subsequent to acquisition | 1,897 | ||
Gross amount carried at close of current period | 6,659 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,969 | ||
600 Burning Tree Rd, Fullerton, California | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
21063 Forbes St., Hayward, California | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 13,407 | ||
Cost capitalized subsequent to acquisition | 351 | ||
Gross amount carried at close of current period | 13,758 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,666 | ||
21063 Forbes St., Hayward, California | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
5086 4th St, Irwindale, California | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 6,800 | ||
Cost capitalized subsequent to acquisition | 2,523 | ||
Gross amount carried at close of current period | 9,323 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 3,589 | ||
5086 4th St, Irwindale, California | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
6933 Preston Ave, Livermore, California | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 14,585 | ||
Cost capitalized subsequent to acquisition | 13,927 | ||
Gross amount carried at close of current period | 28,512 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 10,535 | ||
6933 Preston Ave, Livermore, California | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
1006 North Mansfield, Los Angeles, California | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 749 | ||
Cost capitalized subsequent to acquisition | 0 | ||
Gross amount carried at close of current period | 749 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 109 | ||
1006 North Mansfield, Los Angeles, California | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
1025 North Highland Ave, Los Angeles, California | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 10,168 | ||
Cost capitalized subsequent to acquisition | 26,191 | ||
Gross amount carried at close of current period | 36,359 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 13,914 | ||
1025 North Highland Ave, Los Angeles, California | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
1350 West Grand Ave, Oakland, California | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 15,172 | ||
Cost capitalized subsequent to acquisition | 6,224 | ||
Gross amount carried at close of current period | 21,396 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 14,882 | ||
1350 West Grand Ave, Oakland, California | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
1760 North Saint Thomas Circle, Orange, California | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 4,576 | ||
Cost capitalized subsequent to acquisition | 495 | ||
Gross amount carried at close of current period | 5,071 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,842 | ||
1760 North Saint Thomas Circle, Orange, California | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
8700 Mercury Lane, Pico Rivera, California | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 27,957 | ||
Cost capitalized subsequent to acquisition | 213 | ||
Gross amount carried at close of current period | 28,170 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 9,584 | ||
8700 Mercury Lane, Pico Rivera, California | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
8661 Kerns St, San Diego, California | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 10,512 | ||
Cost capitalized subsequent to acquisition | 6,821 | ||
Gross amount carried at close of current period | 17,333 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 7,352 | ||
8661 Kerns St, San Diego, California | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
1915 South Grand Ave, Santa Ana, California | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 3,420 | ||
Cost capitalized subsequent to acquisition | 1,261 | ||
Gross amount carried at close of current period | 4,681 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,954 | ||
1915 South Grand Ave, Santa Ana, California | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
2680 Sequoia Dr, South Gate, California | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 6,329 | ||
Cost capitalized subsequent to acquisition | 2,251 | ||
Gross amount carried at close of current period | 8,580 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 4,177 | ||
2680 Sequoia Dr, South Gate, California | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
336 Oyster Point Blvd, South San Francisco, California | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 15,100 | ||
Cost capitalized subsequent to acquisition | 18 | ||
Gross amount carried at close of current period | 15,118 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,168 | ||
336 Oyster Point Blvd, South San Francisco, California | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
25250 South Schulte Rd, Tracy, California | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 3,049 | ||
Cost capitalized subsequent to acquisition | 1,774 | ||
Gross amount carried at close of current period | 4,823 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,080 | ||
25250 South Schulte Rd, Tracy, California | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
3576 N. Moline, Aurora, Colorado | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,583 | ||
Cost capitalized subsequent to acquisition | 4,390 | ||
Gross amount carried at close of current period | 5,973 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,810 | ||
3576 N. Moline, Aurora, Colorado | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
North Stone Ave, Colorado Springs, Colorado | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 2 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 761 | ||
Cost capitalized subsequent to acquisition | 2,718 | ||
Gross amount carried at close of current period | 3,479 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,771 | ||
North Stone Ave, Colorado Springs, Colorado | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
4300 Brighton Boulevard, Denver, Colorado | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 116,336 | ||
Cost capitalized subsequent to acquisition | 19,117 | ||
Gross amount carried at close of current period | 135,453 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 9,503 | ||
4300 Brighton Boulevard, Denver, Colorado | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
11333 E 53rd Ave, Denver, Colorado | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 7,403 | ||
Cost capitalized subsequent to acquisition | 10,215 | ||
Gross amount carried at close of current period | 17,618 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 9,330 | ||
11333 E 53rd Ave, Denver, Colorado | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
5151 E. 46th Ave, Denver, Colorado | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 6,312 | ||
Cost capitalized subsequent to acquisition | 709 | ||
Gross amount carried at close of current period | 7,021 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,528 | ||
5151 E. 46th Ave, Denver, Colorado | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
20 Eastern Park Rd, East Hartford, Connecticut | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 7,417 | ||
Cost capitalized subsequent to acquisition | 1,891 | ||
Gross amount carried at close of current period | 9,308 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 6,125 | ||
20 Eastern Park Rd, East Hartford, Connecticut | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Bennett Rd, Suffield, Connecticut | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 2 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,768 | ||
Cost capitalized subsequent to acquisition | 933 | ||
Gross amount carried at close of current period | 2,701 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,373 | ||
Bennett Rd, Suffield, Connecticut | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Kennedy Road, Windsor, Connecticut | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 2 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 10,447 | ||
Cost capitalized subsequent to acquisition | 31,140 | ||
Gross amount carried at close of current period | 41,587 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 20,432 | ||
Kennedy Road, Windsor, Connecticut | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
293 Ella Grasso Rd, Windsor Locks, Connecticut | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 4,021 | ||
Cost capitalized subsequent to acquisition | 2,019 | ||
Gross amount carried at close of current period | 6,040 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,846 | ||
293 Ella Grasso Rd, Windsor Locks, Connecticut | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
150-200 Todds Ln, Wilmington, Delaware | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 7,226 | ||
Cost capitalized subsequent to acquisition | 1,044 | ||
Gross amount carried at close of current period | 8,270 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 5,036 | ||
150-200 Todds Ln, Wilmington, Delaware | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
13280 Vantage Way, Jacksonville, Florida | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,853 | ||
Cost capitalized subsequent to acquisition | 567 | ||
Gross amount carried at close of current period | 2,420 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 938 | ||
13280 Vantage Way, Jacksonville, Florida | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
12855 Starkey Rd, Largo, Florida | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 3,293 | ||
Cost capitalized subsequent to acquisition | 2,966 | ||
Gross amount carried at close of current period | 6,259 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 3,187 | ||
12855 Starkey Rd, Largo, Florida | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
7801 Riviera Blvd, Miramar, Florida | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 8,250 | ||
Cost capitalized subsequent to acquisition | 221 | ||
Gross amount carried at close of current period | 8,471 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 808 | ||
7801 Riviera Blvd, Miramar, Florida | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
10002 Satellite Blvd, Orlando, Florida | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,927 | ||
Cost capitalized subsequent to acquisition | 295 | ||
Gross amount carried at close of current period | 2,222 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 886 | ||
10002 Satellite Blvd, Orlando, Florida | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
3501 Electronics Way, West Palm Beach, Florida | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 4,201 | ||
Cost capitalized subsequent to acquisition | 13,678 | ||
Gross amount carried at close of current period | 17,879 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 6,968 | ||
3501 Electronics Way, West Palm Beach, Florida | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
1890 MacArthur Blvd, Atlanta Georgia | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,786 | ||
Cost capitalized subsequent to acquisition | 742 | ||
Gross amount carried at close of current period | 2,528 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,123 | ||
1890 MacArthur Blvd, Atlanta Georgia | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
3881 Old Gordon Rd, Atlanta, Georgia | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,185 | ||
Cost capitalized subsequent to acquisition | 326 | ||
Gross amount carried at close of current period | 1,511 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 863 | ||
3881 Old Gordon Rd, Atlanta, Georgia | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
5319 Tulane Drive SW, Atlanta, Georgia | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 2,808 | ||
Cost capitalized subsequent to acquisition | 3,940 | ||
Gross amount carried at close of current period | 6,748 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 3,146 | ||
5319 Tulane Drive SW, Atlanta, Georgia | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
6111 Live Oak Parkway, Norcross, Georgia | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 3,542 | ||
Cost capitalized subsequent to acquisition | 1,648 | ||
Gross amount carried at close of current period | 5,190 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 390 | ||
6111 Live Oak Parkway, Norcross, Georgia | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
3150 Nifda Dr, Smyrna, Georgia | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 463 | ||
Cost capitalized subsequent to acquisition | 770 | ||
Gross amount carried at close of current period | 1,233 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 731 | ||
3150 Nifda Dr, Smyrna, Georgia | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
1301 S. Rockwell St, Chicago, Illinois | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 7,947 | ||
Cost capitalized subsequent to acquisition | 19,657 | ||
Gross amount carried at close of current period | 27,604 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 15,927 | ||
1301 S. Rockwell St, Chicago, Illinois | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
2211 W. Pershing Rd, Chicago, Illinois | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 4,264 | ||
Cost capitalized subsequent to acquisition | 13,979 | ||
Gross amount carried at close of current period | 18,243 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 8,435 | ||
2211 W. Pershing Rd, Chicago, Illinois | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
2425 South Halsted St, Chicago, Illinois | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 7,470 | ||
Cost capitalized subsequent to acquisition | 1,658 | ||
Gross amount carried at close of current period | 9,128 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 4,310 | ||
2425 South Halsted St, Chicago, Illinois | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
2604 West 13th St, Chicago, Illinois | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 404 | ||
Cost capitalized subsequent to acquisition | 2,818 | ||
Gross amount carried at close of current period | 3,222 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,799 | ||
2604 West 13th St, Chicago, Illinois | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
2255 Pratt Blvd, Elk Grove, Illinois | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,989 | ||
Cost capitalized subsequent to acquisition | 3,892 | ||
Gross amount carried at close of current period | 5,881 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,516 | ||
2255 Pratt Blvd, Elk Grove, Illinois | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
4175 Chandler Dr Opus No. Corp, Hanover Park, Illinois | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 22,048 | ||
Cost capitalized subsequent to acquisition | 2,461 | ||
Gross amount carried at close of current period | 24,509 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 9,552 | ||
4175 Chandler Dr Opus No. Corp, Hanover Park, Illinois | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
2600 Beverly Drive, Lincoln, Illinois | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,378 | ||
Cost capitalized subsequent to acquisition | 923 | ||
Gross amount carried at close of current period | 2,301 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 254 | ||
2600 Beverly Drive, Lincoln, Illinois | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
6090 NE 14th Street, Des Moines, Iowa | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 622 | ||
Cost capitalized subsequent to acquisition | 504 | ||
Gross amount carried at close of current period | 1,126 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 408 | ||
6090 NE 14th Street, Des Moines, Iowa | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
South 7th St, Louisville, Kentucky | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 4 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 709 | ||
Cost capitalized subsequent to acquisition | 13,427 | ||
Gross amount carried at close of current period | 14,136 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 5,302 | ||
South 7th St, Louisville, Kentucky | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
26 Parkway Drive (fka 133 Pleasant), Scarborough, Maine | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 8,337 | ||
Cost capitalized subsequent to acquisition | 387 | ||
Gross amount carried at close of current period | 8,724 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 3,151 | ||
26 Parkway Drive (fka 133 Pleasant), Scarborough, Maine | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
8928 McGaw Ct, Columbia, Maryland | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 2,198 | ||
Cost capitalized subsequent to acquisition | 6,416 | ||
Gross amount carried at close of current period | 8,614 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 3,591 | ||
8928 McGaw Ct, Columbia, Maryland | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
10641 Iron Bridge Rd, Jessup, Maryland | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 3,782 | ||
Cost capitalized subsequent to acquisition | 1,337 | ||
Gross amount carried at close of current period | 5,119 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,618 | ||
10641 Iron Bridge Rd, Jessup, Maryland | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
8275 Patuxent Range Rd, Jessup, Maryland | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 10,105 | ||
Cost capitalized subsequent to acquisition | 7,703 | ||
Gross amount carried at close of current period | 17,808 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 10,037 | ||
8275 Patuxent Range Rd, Jessup, Maryland | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
96 High St, Billerica, Massachusetts | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 3,221 | ||
Cost capitalized subsequent to acquisition | 3,926 | ||
Gross amount carried at close of current period | 7,147 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 3,661 | ||
96 High St, Billerica, Massachusetts | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
120 Hampden St, Boston, Massachusetts | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 164 | ||
Cost capitalized subsequent to acquisition | 930 | ||
Gross amount carried at close of current period | 1,094 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 542 | ||
120 Hampden St, Boston, Massachusetts | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
32 George St, Boston, Massachusetts | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,820 | ||
Cost capitalized subsequent to acquisition | 5,391 | ||
Gross amount carried at close of current period | 7,211 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 5,431 | ||
32 George St, Boston, Massachusetts | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
3435 Sharps Lot Rd, Dighton, Massachusetts | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,911 | ||
Cost capitalized subsequent to acquisition | 788 | ||
Gross amount carried at close of current period | 2,699 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,085 | ||
3435 Sharps Lot Rd, Dighton, Massachusetts | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
77 Constitution Boulevard, Franklin, Massachusetts | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 5,413 | ||
Cost capitalized subsequent to acquisition | 218 | ||
Gross amount carried at close of current period | 5,631 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 713 | ||
77 Constitution Boulevard, Franklin, Massachusetts | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
216 Canal St, Lawrence, Massachusetts | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,298 | ||
Cost capitalized subsequent to acquisition | 1,089 | ||
Gross amount carried at close of current period | 2,387 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,270 | ||
216 Canal St, Lawrence, Massachusetts | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Bearfoot Road, Northboro, Massachusetts | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 2 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 55,923 | ||
Cost capitalized subsequent to acquisition | 12,506 | ||
Gross amount carried at close of current period | 68,429 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 40,067 | ||
Bearfoot Road, Northboro, Massachusetts | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
38300 Plymouth Road, Livonia, Michigan | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 10,285 | ||
Cost capitalized subsequent to acquisition | 1,243 | ||
Gross amount carried at close of current period | 11,528 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 3,937 | ||
38300 Plymouth Road, Livonia, Michigan | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
6601 Sterling Dr South, Sterling Heights, Michigan | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,294 | ||
Cost capitalized subsequent to acquisition | 1,150 | ||
Gross amount carried at close of current period | 2,444 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,240 | ||
6601 Sterling Dr South, Sterling Heights, Michigan | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
1985 Bart Ave, Warren, Michigan | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,802 | ||
Cost capitalized subsequent to acquisition | 530 | ||
Gross amount carried at close of current period | 2,332 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,113 | ||
1985 Bart Ave, Warren, Michigan | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Wahl Court, Warren, Michigan | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 2 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 3,426 | ||
Cost capitalized subsequent to acquisition | 2,635 | ||
Gross amount carried at close of current period | 6,061 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 3,705 | ||
Wahl Court, Warren, Michigan | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
31155 Wixom Rd, Wixom, Michigan | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 4,000 | ||
Cost capitalized subsequent to acquisition | 1,381 | ||
Gross amount carried at close of current period | 5,381 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,687 | ||
31155 Wixom Rd, Wixom, Michigan | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
3140 Ryder Trail South, Earth City, Missouri | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 3,072 | ||
Cost capitalized subsequent to acquisition | 3,398 | ||
Gross amount carried at close of current period | 6,470 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,351 | ||
3140 Ryder Trail South, Earth City, Missouri | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Missouri Bottom Road, Hazelwood, Missouri | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 4 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 28,282 | ||
Cost capitalized subsequent to acquisition | 4,969 | ||
Gross amount carried at close of current period | 33,251 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 7,708 | ||
Missouri Bottom Road, Hazelwood, Missouri | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Leavenworth St/18th St, Omaha, Nebraska | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 3 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 2,924 | ||
Cost capitalized subsequent to acquisition | 19,736 | ||
Gross amount carried at close of current period | 22,660 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 7,533 | ||
Leavenworth St/18th St, Omaha, Nebraska | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
4105 North Lamb Blvd, Las Vegas, Nevada | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 3,430 | ||
Cost capitalized subsequent to acquisition | 8,957 | ||
Gross amount carried at close of current period | 12,387 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 5,850 | ||
4105 North Lamb Blvd, Las Vegas, Nevada | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
17 Hydro Plant Rd, Milton, New Hampshire | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 6,179 | ||
Cost capitalized subsequent to acquisition | 4,351 | ||
Gross amount carried at close of current period | 10,530 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 6,523 | ||
17 Hydro Plant Rd, Milton, New Hampshire | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Kimberly Rd, East Brunsick, New Jersey | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 3 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 22,105 | ||
Cost capitalized subsequent to acquisition | 5,924 | ||
Gross amount carried at close of current period | 28,029 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 14,303 | ||
Kimberly Rd, East Brunsick, New Jersey | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
3003 Woodbridge Avenue, Edison, New Jersey | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 310,404 | ||
Cost capitalized subsequent to acquisition | 36,772 | ||
Gross amount carried at close of current period | 347,176 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 19,038 | ||
3003 Woodbridge Avenue, Edison, New Jersey | Asia Pacific | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
811 Route 33, Freehold, New Jersey | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 3 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 38,697 | ||
Cost capitalized subsequent to acquisition | 55,396 | ||
Gross amount carried at close of current period | 94,093 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 52,431 | ||
811 Route 33, Freehold, New Jersey | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
51-69 & 77-81 Court St, Newark, New Jersey | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 11,734 | ||
Cost capitalized subsequent to acquisition | 9,774 | ||
Gross amount carried at close of current period | 21,508 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,478 | ||
51-69 & 77-81 Court St, Newark, New Jersey | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
560 Irvine Turner Blvd, Newark, New Jersey | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 9,522 | ||
Cost capitalized subsequent to acquisition | 709 | ||
Gross amount carried at close of current period | 10,231 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 858 | ||
560 Irvine Turner Blvd, Newark, New Jersey | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
231 Johnson Ave, Newark, New Jersey | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 8,945 | ||
Cost capitalized subsequent to acquisition | 1,855 | ||
Gross amount carried at close of current period | 10,800 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 905 | ||
231 Johnson Ave, Newark, New Jersey | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
650 Howard Avenue, Somerset, New Jersey | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 3,585 | ||
Cost capitalized subsequent to acquisition | 11,808 | ||
Gross amount carried at close of current period | 15,393 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 6,027 | ||
650 Howard Avenue, Somerset, New Jersey | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
100 Bailey Ave, Buffalo, New York | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,324 | ||
Cost capitalized subsequent to acquisition | 11,086 | ||
Gross amount carried at close of current period | 12,410 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 6,584 | ||
100 Bailey Ave, Buffalo, New York | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
64 Leone Ln, Chester, New York | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 5,086 | ||
Cost capitalized subsequent to acquisition | 1,132 | ||
Gross amount carried at close of current period | 6,218 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 3,482 | ||
64 Leone Ln, Chester, New York | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
1368 County Rd 8, Farmington, New York | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 2,611 | ||
Cost capitalized subsequent to acquisition | 4,788 | ||
Gross amount carried at close of current period | 7,399 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 4,609 | ||
1368 County Rd 8, Farmington, New York | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
County Rd 10, Linlithgo, New York | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 2 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 102 | ||
Cost capitalized subsequent to acquisition | 2,959 | ||
Gross amount carried at close of current period | 3,061 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,646 | ||
County Rd 10, Linlithgo, New York | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
77 Seaview Blvd, N. Hempstead New York | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 5,719 | ||
Cost capitalized subsequent to acquisition | 1,442 | ||
Gross amount carried at close of current period | 7,161 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,721 | ||
77 Seaview Blvd, N. Hempstead New York | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
37 Hurds Corner Road, Pawling, New York | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 4,323 | ||
Cost capitalized subsequent to acquisition | 1,285 | ||
Gross amount carried at close of current period | 5,608 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,271 | ||
37 Hurds Corner Road, Pawling, New York | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Ulster Ave/Route 9W, Port Ewen, New York | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 3 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 23,137 | ||
Cost capitalized subsequent to acquisition | 11,277 | ||
Gross amount carried at close of current period | 34,414 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 22,318 | ||
Ulster Ave/Route 9W, Port Ewen, New York | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Binnewater Rd, Rosendale, New York | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 2 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 5,142 | ||
Cost capitalized subsequent to acquisition | 11,664 | ||
Gross amount carried at close of current period | 16,806 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 7,062 | ||
Binnewater Rd, Rosendale, New York | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
220 Wavel St, Syracuse, New York | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 2,929 | ||
Cost capitalized subsequent to acquisition | 2,712 | ||
Gross amount carried at close of current period | 5,641 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,924 | ||
220 Wavel St, Syracuse, New York | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
2235 Cessna Drive, Burlington, North Carolina | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,602 | ||
Cost capitalized subsequent to acquisition | 328 | ||
Gross amount carried at close of current period | 1,930 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 222 | ||
2235 Cessna Drive, Burlington, North Carolina | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
14500 Weston Pkwy, Cary, North Carolina | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,880 | ||
Cost capitalized subsequent to acquisition | 2,224 | ||
Gross amount carried at close of current period | 4,104 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,909 | ||
14500 Weston Pkwy, Cary, North Carolina | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
826 Church Street, Morrisville, North Carolina | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 7,087 | ||
Cost capitalized subsequent to acquisition | 266 | ||
Gross amount carried at close of current period | 7,353 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,335 | ||
826 Church Street, Morrisville, North Carolina | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
1275 East 40th, Cleveland, Ohio | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 3,129 | ||
Cost capitalized subsequent to acquisition | 599 | ||
Gross amount carried at close of current period | 3,728 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,041 | ||
1275 East 40th, Cleveland, Ohio | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
7208 Euclid Avenue, Cleveland, Ohio | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 3,336 | ||
Cost capitalized subsequent to acquisition | 3,268 | ||
Gross amount carried at close of current period | 6,604 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 3,185 | ||
7208 Euclid Avenue, Cleveland, Ohio | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
4260 Tuller Ridge Rd, Dublin, Ohio | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,030 | ||
Cost capitalized subsequent to acquisition | 1,881 | ||
Gross amount carried at close of current period | 2,911 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,483 | ||
4260 Tuller Ridge Rd, Dublin, Ohio | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
3366 South Tech Boulevard, Miamisburg, Ohio | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 29,092 | ||
Cost capitalized subsequent to acquisition | 507 | ||
Gross amount carried at close of current period | 29,599 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,013 | ||
3366 South Tech Boulevard, Miamisburg, Ohio | Latin America | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
302 South Byrne Rd, Toledo, Ohio | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 602 | ||
Cost capitalized subsequent to acquisition | 1,081 | ||
Gross amount carried at close of current period | 1,683 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 752 | ||
302 South Byrne Rd, Toledo, Ohio | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Partnership Drive, Oklahoma City, Oklahoma | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 3 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 11,437 | ||
Cost capitalized subsequent to acquisition | 313 | ||
Gross amount carried at close of current period | 11,750 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 3,286 | ||
Partnership Drive, Oklahoma City, Oklahoma | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
7530 N. Leadbetter Road, Portland, Oregon | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 5,187 | ||
Cost capitalized subsequent to acquisition | 1,874 | ||
Gross amount carried at close of current period | 7,061 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 4,170 | ||
7530 N. Leadbetter Road, Portland, Oregon | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Branchton Rd, Boyers, Pennsylvania | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 3 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 21,166 | ||
Cost capitalized subsequent to acquisition | 232,609 | ||
Gross amount carried at close of current period | 253,775 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 61,886 | ||
Branchton Rd, Boyers, Pennsylvania | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
800 Carpenters Crossings, Folcroft, Pennsylvania | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 2,457 | ||
Cost capitalized subsequent to acquisition | 953 | ||
Gross amount carried at close of current period | 3,410 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,069 | ||
800 Carpenters Crossings, Folcroft, Pennsylvania | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
36 Great Valley Pkwy, Malvern, Pennsylvania | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 2,397 | ||
Cost capitalized subsequent to acquisition | 7,076 | ||
Gross amount carried at close of current period | 9,473 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 4,420 | ||
36 Great Valley Pkwy, Malvern, Pennsylvania | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
2300 Newlins Mill Road, Palmer Township, Pennsylvania | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 18,365 | ||
Cost capitalized subsequent to acquisition | 9,027 | ||
Gross amount carried at close of current period | 27,392 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,412 | ||
2300 Newlins Mill Road, Palmer Township, Pennsylvania | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Henderson Dr/Elmwood Ave, Sharon Hill, Pennsylvania | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 2 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 24,153 | ||
Cost capitalized subsequent to acquisition | 105 | ||
Gross amount carried at close of current period | 24,258 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 12,362 | ||
Henderson Dr/Elmwood Ave, Sharon Hill, Pennsylvania | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Las Flores Industrial Park, Rio Grande, Puerto Rico | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 4,185 | ||
Cost capitalized subsequent to acquisition | 3,447 | ||
Gross amount carried at close of current period | 7,632 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 4,416 | ||
Las Flores Industrial Park, Rio Grande, Puerto Rico | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
24 Snake Hill Road, Chepachet, Rhode Island | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 2,659 | ||
Cost capitalized subsequent to acquisition | 2,202 | ||
Gross amount carried at close of current period | 4,861 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,928 | ||
24 Snake Hill Road, Chepachet, Rhode Island | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
1061 Carolina Pines Road, Columbia, South Carolina | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 11,776 | ||
Cost capitalized subsequent to acquisition | 2,340 | ||
Gross amount carried at close of current period | 14,116 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 3,223 | ||
1061 Carolina Pines Road, Columbia, South Carolina | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
2301 Prosperity Way, Florence, South Carolina | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 2,846 | ||
Cost capitalized subsequent to acquisition | 1,258 | ||
Gross amount carried at close of current period | 4,104 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,217 | ||
2301 Prosperity Way, Florence, South Carolina | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Mitchell Street, Knoxville, Tennessee | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 2 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 718 | ||
Cost capitalized subsequent to acquisition | 4,557 | ||
Gross amount carried at close of current period | 5,275 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,022 | ||
Mitchell Street, Knoxville, Tennessee | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
6005 Dana Way, Nashville, Tennessee | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 2 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,827 | ||
Cost capitalized subsequent to acquisition | 2,915 | ||
Gross amount carried at close of current period | 4,742 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,921 | ||
6005 Dana Way, Nashville, Tennessee | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
11406 Metric Blvd, Austin, Texas | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 5,489 | ||
Cost capitalized subsequent to acquisition | 2,211 | ||
Gross amount carried at close of current period | 7,700 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 4,090 | ||
11406 Metric Blvd, Austin, Texas | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
6600 Metropolis Drive, Austin, Texas | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 4,519 | ||
Cost capitalized subsequent to acquisition | 454 | ||
Gross amount carried at close of current period | 4,973 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,358 | ||
6600 Metropolis Drive, Austin, Texas | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Capital Parkway, Carrollton, Texas | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 3 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 8,299 | ||
Cost capitalized subsequent to acquisition | 246 | ||
Gross amount carried at close of current period | 8,545 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,661 | ||
Capital Parkway, Carrollton, Texas | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
1800 Columbian Club Dr, Carrolton, Texas | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 19,673 | ||
Cost capitalized subsequent to acquisition | 1,179 | ||
Gross amount carried at close of current period | 20,852 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 9,438 | ||
1800 Columbian Club Dr, Carrolton, Texas | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
1905 John Connally Dr, Carrolton, Texas | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 2,174 | ||
Cost capitalized subsequent to acquisition | 791 | ||
Gross amount carried at close of current period | 2,965 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,387 | ||
1905 John Connally Dr, Carrolton, Texas | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
13425 Branchview Ln, Dallas, Texas | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 3,518 | ||
Cost capitalized subsequent to acquisition | 3,680 | ||
Gross amount carried at close of current period | 7,198 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 4,193 | ||
13425 Branchview Ln, Dallas, Texas | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Cockrell Ave, Dallas, Texas | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,277 | ||
Cost capitalized subsequent to acquisition | 1,596 | ||
Gross amount carried at close of current period | 2,873 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,979 | ||
Cockrell Ave, Dallas, Texas | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
1819 S. Lamar St, Dallas, Texas | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 3,215 | ||
Cost capitalized subsequent to acquisition | 1,083 | ||
Gross amount carried at close of current period | 4,298 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,578 | ||
1819 S. Lamar St, Dallas, Texas | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
2000 Robotics Place Suite B, Fort Worth, Texas | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 5,328 | ||
Cost capitalized subsequent to acquisition | 2,065 | ||
Gross amount carried at close of current period | 7,393 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,951 | ||
2000 Robotics Place Suite B, Fort Worth, Texas | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
1202 Ave R, Grand Prairie, Texas | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 8,354 | ||
Cost capitalized subsequent to acquisition | 2,173 | ||
Gross amount carried at close of current period | 10,527 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 5,947 | ||
1202 Ave R, Grand Prairie, Texas | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
15333 Hempstead Hwy, Houston, Texas | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 3 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 6,327 | ||
Cost capitalized subsequent to acquisition | 37,648 | ||
Gross amount carried at close of current period | 43,975 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 13,034 | ||
15333 Hempstead Hwy, Houston, Texas | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
2600 Center Street, Houston, Texas | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 2,840 | ||
Cost capitalized subsequent to acquisition | 2,172 | ||
Gross amount carried at close of current period | 5,012 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,575 | ||
2600 Center Street, Houston, Texas | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
3502 Bissonnet St, Houston, Texas | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 7,687 | ||
Cost capitalized subsequent to acquisition | 692 | ||
Gross amount carried at close of current period | 8,379 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 5,840 | ||
3502 Bissonnet St, Houston, Texas | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
5249 Glenmont Ave, Houston, Texas | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 3,467 | ||
Cost capitalized subsequent to acquisition | 2,401 | ||
Gross amount carried at close of current period | 5,868 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,753 | ||
5249 Glenmont Ave, Houston, Texas | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
5707 Chimney Rock, Houston, Texas | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,032 | ||
Cost capitalized subsequent to acquisition | 1,189 | ||
Gross amount carried at close of current period | 2,221 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,089 | ||
5707 Chimney Rock, Houston, Texas | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
5757 Royalton Dr, Houston, Texas | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,795 | ||
Cost capitalized subsequent to acquisition | 994 | ||
Gross amount carried at close of current period | 2,789 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,300 | ||
5757 Royalton Dr, Houston, Texas | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
6203 Bingle Rd, Houston, Texas | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 3,188 | ||
Cost capitalized subsequent to acquisition | 11,476 | ||
Gross amount carried at close of current period | 14,664 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 8,672 | ||
6203 Bingle Rd, Houston, Texas | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
7800 Westpark, Houston, Texas | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 6,323 | ||
Cost capitalized subsequent to acquisition | 1,276 | ||
Gross amount carried at close of current period | 7,599 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,832 | ||
7800 Westpark, Houston, Texas | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
9601 West Tidwell, Houston, Texas | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,680 | ||
Cost capitalized subsequent to acquisition | 2,305 | ||
Gross amount carried at close of current period | 3,985 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,302 | ||
9601 West Tidwell, Houston, Texas | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
15300 FM 1825, Pflugerville, Texas | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 2 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 3,811 | ||
Cost capitalized subsequent to acquisition | 7,952 | ||
Gross amount carried at close of current period | 11,763 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 5,042 | ||
15300 FM 1825, Pflugerville, Texas | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
930 Avenue B, San Antonio, Texas | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 393 | ||
Cost capitalized subsequent to acquisition | 245 | ||
Gross amount carried at close of current period | 638 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 259 | ||
930 Avenue B, San Antonio, Texas | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
931 North Broadway, San Antonio, Texas | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 3,526 | ||
Cost capitalized subsequent to acquisition | 1,144 | ||
Gross amount carried at close of current period | 4,670 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,857 | ||
931 North Broadway, San Antonio, Texas | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
1665 S. 5350 West, Salt Lake City, Utah | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 6,239 | ||
Cost capitalized subsequent to acquisition | 4,270 | ||
Gross amount carried at close of current period | 10,509 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 5,236 | ||
1665 S. 5350 West, Salt Lake City, Utah | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
11052 Lakeridge Pkwy, Ashland, Virginia | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,709 | ||
Cost capitalized subsequent to acquisition | 1,924 | ||
Gross amount carried at close of current period | 3,633 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,842 | ||
11052 Lakeridge Pkwy, Ashland, Virginia | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
2301 International Parkway, Fredericksburg, Virginia | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 20,980 | ||
Cost capitalized subsequent to acquisition | 30 | ||
Gross amount carried at close of current period | 21,010 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 5,777 | ||
2301 International Parkway, Fredericksburg, Virginia | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
4555 Progress Road, Norfolk, Virginia | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 6,527 | ||
Cost capitalized subsequent to acquisition | 1,088 | ||
Gross amount carried at close of current period | 7,615 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 3,297 | ||
4555 Progress Road, Norfolk, Virginia | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
3725 Thirlane Rd. N.W., Roanoke, Virginia | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 2,577 | ||
Cost capitalized subsequent to acquisition | 172 | ||
Gross amount carried at close of current period | 2,749 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,119 | ||
3725 Thirlane Rd. N.W., Roanoke, Virginia | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
7700-7730 Southern Dr, Springfield, Virginia | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 14,167 | ||
Cost capitalized subsequent to acquisition | 2,651 | ||
Gross amount carried at close of current period | 16,818 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 9,475 | ||
7700-7730 Southern Dr, Springfield, Virginia | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
8001 Research Way, Springfield, Virginia | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 5,230 | ||
Cost capitalized subsequent to acquisition | 2,790 | ||
Gross amount carried at close of current period | 8,020 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 3,384 | ||
8001 Research Way, Springfield, Virginia | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
22445 Randolph Dr, Sterling, Virginia | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 7,598 | ||
Cost capitalized subsequent to acquisition | 3,724 | ||
Gross amount carried at close of current period | 11,322 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 6,018 | ||
22445 Randolph Dr, Sterling, Virginia | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
307 South 140th St, Burien, Washington | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 2,078 | ||
Cost capitalized subsequent to acquisition | 2,367 | ||
Gross amount carried at close of current period | 4,445 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,323 | ||
307 South 140th St, Burien, Washington | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
8908 W. Hallett Rd, Cheney, Washington | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 510 | ||
Cost capitalized subsequent to acquisition | 4,259 | ||
Gross amount carried at close of current period | 4,769 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,066 | ||
8908 W. Hallett Rd, Cheney, Washington | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
6600 Hardeson Rd, Everett, Washington | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 5,399 | ||
Cost capitalized subsequent to acquisition | 3,404 | ||
Gross amount carried at close of current period | 8,803 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 3,543 | ||
6600 Hardeson Rd, Everett, Washington | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
19826 Russell Rd, South, Kent, Washington | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 14,793 | ||
Cost capitalized subsequent to acquisition | 9,752 | ||
Gross amount carried at close of current period | 24,545 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 10,705 | ||
19826 Russell Rd, South, Kent, Washington | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
1201 N. 96th St, Seattle, Washington | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 4,496 | ||
Cost capitalized subsequent to acquisition | 2,112 | ||
Gross amount carried at close of current period | 6,608 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 3,556 | ||
1201 N. 96th St, Seattle, Washington | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
4330 South Grove Road, Spokane, Washington | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 3,906 | ||
Cost capitalized subsequent to acquisition | 850 | ||
Gross amount carried at close of current period | 4,756 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 472 | ||
4330 South Grove Road, Spokane, Washington | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
12021 West Bluemound Road, Wauwatosa, Wisconsin | United States | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,307 | ||
Cost capitalized subsequent to acquisition | 2,124 | ||
Gross amount carried at close of current period | 3,431 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,445 | ||
12021 West Bluemound Road, Wauwatosa, Wisconsin | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
One Command Court, Bedford | Canada | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 3,847 | ||
Cost capitalized subsequent to acquisition | 4,482 | ||
Gross amount carried at close of current period | 8,329 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 4,126 | ||
One Command Court, Bedford | Canada | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
195 Summerlea Road, Brampton | Canada | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 5,403 | ||
Cost capitalized subsequent to acquisition | 6,479 | ||
Gross amount carried at close of current period | 11,882 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 5,357 | ||
195 Summerlea Road, Brampton | Canada | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
10 Tilbury Court, Brampton | Canada | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 5,007 | ||
Cost capitalized subsequent to acquisition | 17,257 | ||
Gross amount carried at close of current period | 22,264 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 7,916 | ||
10 Tilbury Court, Brampton | Canada | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
8825 Northbrook Court, Burnaby | Canada | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 8,091 | ||
Cost capitalized subsequent to acquisition | 2,062 | ||
Gross amount carried at close of current period | 10,153 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 4,648 | ||
8825 Northbrook Court, Burnaby | Canada | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
8088 Glenwood Drive, Burnaby | Canada | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 4,326 | ||
Cost capitalized subsequent to acquisition | 7,114 | ||
Gross amount carried at close of current period | 11,440 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 4,658 | ||
8088 Glenwood Drive, Burnaby | Canada | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
5811 26th Street S.E., Calgary | Canada | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 14,658 | ||
Cost capitalized subsequent to acquisition | 8,509 | ||
Gross amount carried at close of current period | 23,167 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 11,114 | ||
5811 26th Street S.E., Calgary | Canada | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
3905-101 Street, Edmonton | Canada | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 2,020 | ||
Cost capitalized subsequent to acquisition | 640 | ||
Gross amount carried at close of current period | 2,660 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,578 | ||
3905-101 Street, Edmonton | Canada | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
68 Grant Timmins Drive, Kingston | Canada | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 3,639 | ||
Cost capitalized subsequent to acquisition | 660 | ||
Gross amount carried at close of current period | 4,299 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 330 | ||
68 Grant Timmins Drive, Kingston | Canada | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
3005 Boul. Jean-Baptiste Deschamps, Lachine | Canada | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 2,751 | ||
Cost capitalized subsequent to acquisition | 138 | ||
Gross amount carried at close of current period | 2,889 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,382 | ||
3005 Boul. Jean-Baptiste Deschamps, Lachine | Canada | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
1655 Fleetwood, Laval | Canada | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 8,196 | ||
Cost capitalized subsequent to acquisition | 18,161 | ||
Gross amount carried at close of current period | 26,357 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 12,687 | ||
1655 Fleetwood, Laval | Canada | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
4005 Richelieu, Montreal | Canada | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,800 | ||
Cost capitalized subsequent to acquisition | 2,531 | ||
Gross amount carried at close of current period | 4,331 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,699 | ||
4005 Richelieu, Montreal | Canada | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
1209 Algoma Rd, Ottawa | Canada | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,059 | ||
Cost capitalized subsequent to acquisition | 6,899 | ||
Gross amount carried at close of current period | 7,958 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 4,019 | ||
1209 Algoma Rd, Ottawa | Canada | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
1650 Comstock Rd, Ottawa | Canada | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 7,478 | ||
Cost capitalized subsequent to acquisition | (70) | ||
Gross amount carried at close of current period | 7,408 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,647 | ||
1650 Comstock Rd, Ottawa | Canada | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
235 Edson Street, Saskatoon | Canada | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 829 | ||
Cost capitalized subsequent to acquisition | 1,676 | ||
Gross amount carried at close of current period | 2,505 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 855 | ||
235 Edson Street, Saskatoon | Canada | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
640 Coronation Drive, Scarborough | Canada | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,853 | ||
Cost capitalized subsequent to acquisition | 1,208 | ||
Gross amount carried at close of current period | 3,061 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,279 | ||
640 Coronation Drive, Scarborough | Canada | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
610 Sprucewood Ave, Windsor | Canada | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,243 | ||
Cost capitalized subsequent to acquisition | 667 | ||
Gross amount carried at close of current period | 1,910 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 676 | ||
610 Sprucewood Ave, Windsor | Canada | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Gewerbeparkstr. 3, Vienna, Austria | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 6,542 | ||
Cost capitalized subsequent to acquisition | 8,051 | ||
Gross amount carried at close of current period | 14,593 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 3,514 | ||
Gewerbeparkstr. 3, Vienna, Austria | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Woluwelaan 147, Diegem, Belgium | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 2,541 | ||
Cost capitalized subsequent to acquisition | 6,309 | ||
Gross amount carried at close of current period | 8,850 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 4,218 | ||
Woluwelaan 147, Diegem, Belgium | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Stupničke Šipkovine 62, Zagreb, Croatia | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,408 | ||
Cost capitalized subsequent to acquisition | 572 | ||
Gross amount carried at close of current period | 1,980 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 33 | ||
Stupničke Šipkovine 62, Zagreb, Croatia | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Kratitirion 9 Kokkinotrimithia Industrial District, Nicosia, Cyprus | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 3,136 | ||
Cost capitalized subsequent to acquisition | 3,227 | ||
Gross amount carried at close of current period | 6,363 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 434 | ||
Kratitirion 9 Kokkinotrimithia Industrial District, Nicosia, Cyprus | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Karyatidon 1, Agios Sylas Industrial Area (3rd), Limassol, Cyprus | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,935 | ||
Cost capitalized subsequent to acquisition | (46) | ||
Gross amount carried at close of current period | 1,889 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 158 | ||
Karyatidon 1, Agios Sylas Industrial Area (3rd), Limassol, Cyprus | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
65 Egerton Road, Birmingham, England | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 6,980 | ||
Cost capitalized subsequent to acquisition | 1,550 | ||
Gross amount carried at close of current period | 8,530 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 4,888 | ||
65 Egerton Road, Birmingham, England | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Corby 278, Long Croft Road, Corby, England | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 20,486 | ||
Cost capitalized subsequent to acquisition | 744 | ||
Gross amount carried at close of current period | 21,230 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 537 | ||
Corby 278, Long Croft Road, Corby, England | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Otterham Quay Lane, Gillingham, England | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 9 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 7,418 | ||
Cost capitalized subsequent to acquisition | 3,430 | ||
Gross amount carried at close of current period | 10,848 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 5,269 | ||
Otterham Quay Lane, Gillingham, England | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Pennine Way, Hemel Hempstead, England | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 10,847 | ||
Cost capitalized subsequent to acquisition | 6,113 | ||
Gross amount carried at close of current period | 16,960 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 7,002 | ||
Pennine Way, Hemel Hempstead, England | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Kemble Industrial Park, Kemble, England | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 2 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 5,277 | ||
Cost capitalized subsequent to acquisition | 6,990 | ||
Gross amount carried at close of current period | 12,267 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 8,524 | ||
Kemble Industrial Park, Kemble, England | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Gayton Road, Kings Lynn, England | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 3 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 3,119 | ||
Cost capitalized subsequent to acquisition | 1,829 | ||
Gross amount carried at close of current period | 4,948 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,872 | ||
Gayton Road, Kings Lynn, England | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Cody Road, London, England | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 3 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 20,307 | ||
Cost capitalized subsequent to acquisition | 8,816 | ||
Gross amount carried at close of current period | 29,123 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 11,398 | ||
Cody Road, London, England | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
17 Broadgate, Oldham, England | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 4,039 | ||
Cost capitalized subsequent to acquisition | 342 | ||
Gross amount carried at close of current period | 4,381 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,342 | ||
17 Broadgate, Oldham, England | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Harpway Lane, Sopley, England | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 681 | ||
Cost capitalized subsequent to acquisition | 1,445 | ||
Gross amount carried at close of current period | 2,126 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,384 | ||
Harpway Lane, Sopley, England | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Unit 1A Broadmoor Road, Swindom, England | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 2,636 | ||
Cost capitalized subsequent to acquisition | 478 | ||
Gross amount carried at close of current period | 3,114 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,190 | ||
Unit 1A Broadmoor Road, Swindom, England | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Jeumont-Schneider, Champagne Sur Seine, France | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 3 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,750 | ||
Cost capitalized subsequent to acquisition | 2,429 | ||
Gross amount carried at close of current period | 4,179 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,214 | ||
Jeumont-Schneider, Champagne Sur Seine, France | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Bat I-VII Rue de Osiers, Coignieres, France | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 4 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 21,318 | ||
Cost capitalized subsequent to acquisition | (747) | ||
Gross amount carried at close of current period | 20,571 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 3,904 | ||
Bat I-VII Rue de Osiers, Coignieres, France | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
26 Rue de I Industrie, Fergersheim, France | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,322 | ||
Cost capitalized subsequent to acquisition | (80) | ||
Gross amount carried at close of current period | 1,242 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 235 | ||
26 Rue de I Industrie, Fergersheim, France | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Bat A, B, C1, C2, C3 Rue Imperiale, Gue de Longroi, France | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 3,390 | ||
Cost capitalized subsequent to acquisition | 700 | ||
Gross amount carried at close of current period | 4,090 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 846 | ||
Bat A, B, C1, C2, C3 Rue Imperiale, Gue de Longroi, France | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Le Petit Courtin Site de Dois, Gueslin, Mingieres, France | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 14,141 | ||
Cost capitalized subsequent to acquisition | (272) | ||
Gross amount carried at close of current period | 13,869 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,838 | ||
Le Petit Courtin Site de Dois, Gueslin, Mingieres, France | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
ZI des Sables, Morangis, France | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 582 | ||
Initial cost to Company | 12,407 | ||
Cost capitalized subsequent to acquisition | 15,136 | ||
Gross amount carried at close of current period | 27,543 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 18,712 | ||
ZI des Sables, Morangis, France | Latin America | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
45 Rue de Savoie, Manissieux, Saint Priest, France | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 5,546 | ||
Cost capitalized subsequent to acquisition | (185) | ||
Gross amount carried at close of current period | 5,361 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 779 | ||
45 Rue de Savoie, Manissieux, Saint Priest, France | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Gutenbergstrabe 55, Hamburg, Germany | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 4,022 | ||
Cost capitalized subsequent to acquisition | 742 | ||
Gross amount carried at close of current period | 4,764 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 966 | ||
Gutenbergstrabe 55, Hamburg, Germany | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Brommer Weg 1, Wipshausen, Germany | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 3,220 | ||
Cost capitalized subsequent to acquisition | 1,571 | ||
Gross amount carried at close of current period | 4,791 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 3,272 | ||
Brommer Weg 1, Wipshausen, Germany | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Warehouse and Offices 4 Springhill, Cork, Ireland | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 9,040 | ||
Cost capitalized subsequent to acquisition | 2,534 | ||
Gross amount carried at close of current period | 11,574 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 4,604 | ||
Warehouse and Offices 4 Springhill, Cork, Ireland | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
17 Crag Terrace, Dublin, Ireland | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 2,818 | ||
Cost capitalized subsequent to acquisition | 742 | ||
Gross amount carried at close of current period | 3,560 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,333 | ||
17 Crag Terrace, Dublin, Ireland | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Damastown Industrial Park, Dublin, Ireland | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 16,034 | ||
Cost capitalized subsequent to acquisition | 6,983 | ||
Gross amount carried at close of current period | 23,017 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 7,689 | ||
Damastown Industrial Park, Dublin, Ireland | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Portsmuiden 46, Amsterdam, The Netherlands | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,852 | ||
Cost capitalized subsequent to acquisition | 1,824 | ||
Gross amount carried at close of current period | 3,676 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,255 | ||
Portsmuiden 46, Amsterdam, The Netherlands | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Schepenbergweg 1, Amsterdam, The Netherlands | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,258 | ||
Cost capitalized subsequent to acquisition | (657) | ||
Gross amount carried at close of current period | 601 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 300 | ||
Schepenbergweg 1, Amsterdam, The Netherlands | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Vareseweg 130, Rotterdam, The Netherlands | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,357 | ||
Cost capitalized subsequent to acquisition | 1,022 | ||
Gross amount carried at close of current period | 2,379 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,691 | ||
Vareseweg 130, Rotterdam, The Netherlands | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Howemoss Drive, Aberdeen, Scotland | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 2 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 6,970 | ||
Cost capitalized subsequent to acquisition | 5,556 | ||
Gross amount carried at close of current period | 12,526 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 4,912 | ||
Howemoss Drive, Aberdeen, Scotland | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Traquair Road, Innerleithen, Scotland | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 113 | ||
Cost capitalized subsequent to acquisition | 2,170 | ||
Gross amount carried at close of current period | 2,283 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,101 | ||
Traquair Road, Innerleithen, Scotland | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Nettlehill Road, Houston Industrial Estate, Livingston, Scotland | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 11,517 | ||
Cost capitalized subsequent to acquisition | 25,433 | ||
Gross amount carried at close of current period | 36,950 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 17,916 | ||
Nettlehill Road, Houston Industrial Estate, Livingston, Scotland | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Av Madrid s/n Poligono Industrial Matillas, Alcala de Henares, Spain | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 186 | ||
Cost capitalized subsequent to acquisition | 317 | ||
Gross amount carried at close of current period | 503 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 264 | ||
Av Madrid s/n Poligono Industrial Matillas, Alcala de Henares, Spain | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Calle Bronce, 37, Chiloeches, Spain | United States | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Calle Bronce, 37, Chiloeches, Spain | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 11,011 | ||
Cost capitalized subsequent to acquisition | 1,845 | ||
Gross amount carried at close of current period | 12,856 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 3,088 | ||
Ctra M.118 , Km.3 Parcela 3, Madrid, Spain | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 3,981 | ||
Cost capitalized subsequent to acquisition | 5,719 | ||
Gross amount carried at close of current period | 9,700 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 6,460 | ||
Ctra M.118 , Km.3 Parcela 3, Madrid, Spain | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Fundicion 8, Rivas-Vaciamadrid, Spain | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Abanto Ciervava, Spain | Europe | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 2 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,053 | ||
Cost capitalized subsequent to acquisition | (75) | ||
Gross amount carried at close of current period | 978 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 446 | ||
Abanto Ciervava, Spain | Europe | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Amancio Alcorta 2396, Buenos Aires, Argentina | Latin America | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 2 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 655 | ||
Cost capitalized subsequent to acquisition | 1,188 | ||
Gross amount carried at close of current period | 1,843 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 535 | ||
Amancio Alcorta 2396, Buenos Aires, Argentina | Latin America | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Azara 1245, Buenos Aires, Argentina | Latin America | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 166 | ||
Cost capitalized subsequent to acquisition | (162) | ||
Gross amount carried at close of current period | 4 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 0 | ||
Azara 1245, Buenos Aires, Argentina | Latin America | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Saraza 6135, Buenos Aires, Argentina | Latin America | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 144 | ||
Cost capitalized subsequent to acquisition | 98 | ||
Gross amount carried at close of current period | 242 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 52 | ||
Saraza 6135, Buenos Aires, Argentina | Latin America | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Spegazzini, Ezeiza Buenos Aires, Argentina | Latin America | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 12,773 | ||
Cost capitalized subsequent to acquisition | (9,554) | ||
Gross amount carried at close of current period | 3,219 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 582 | ||
Spegazzini, Ezeiza Buenos Aires, Argentina | Latin America | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Av Ernest de Moraes 815, Bairro Fim do Campo, Jarinu Brazil | Latin America | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 12,562 | ||
Cost capitalized subsequent to acquisition | (2,267) | ||
Gross amount carried at close of current period | 10,295 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,524 | ||
Av Ernest de Moraes 815, Bairro Fim do Campo, Jarinu Brazil | Latin America | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Rua Peri 80, Jundiai, Brazil | Latin America | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 2 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 8,894 | ||
Cost capitalized subsequent to acquisition | (1,760) | ||
Gross amount carried at close of current period | 7,134 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,141 | ||
Rua Peri 80, Jundiai, Brazil | Latin America | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Francisco de Souza e Melo, Rio de Janerio, Brazil | Latin America | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 3 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,868 | ||
Cost capitalized subsequent to acquisition | 10,436 | ||
Gross amount carried at close of current period | 12,304 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 3,341 | ||
Francisco de Souza e Melo, Rio de Janerio, Brazil | Latin America | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Hortolandia, Sao Paulo, Brazil | Latin America | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 24,078 | ||
Cost capitalized subsequent to acquisition | 1,279 | ||
Gross amount carried at close of current period | 25,357 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 3,569 | ||
Hortolandia, Sao Paulo, Brazil | Latin America | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
El Taqueral 99, Santiago, Chile | Latin America | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 2 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 2,629 | ||
Cost capitalized subsequent to acquisition | 32,773 | ||
Gross amount carried at close of current period | 35,402 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 11,212 | ||
El Taqueral 99, Santiago, Chile | Latin America | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Panamericana Norte 18900, Santiago, Chile | Latin America | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 5 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 4,001 | ||
Cost capitalized subsequent to acquisition | 18,831 | ||
Gross amount carried at close of current period | 22,832 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 7,261 | ||
Panamericana Norte 18900, Santiago, Chile | Latin America | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Avenida Prolongacion del Colli 1104, Guadalajara, Mexico | Latin America | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 374 | ||
Cost capitalized subsequent to acquisition | 1,292 | ||
Gross amount carried at close of current period | 1,666 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,016 | ||
Avenida Prolongacion del Colli 1104, Guadalajara, Mexico | Latin America | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Privada Las Flores No. 25 (G3), Guadalajara, Mexico | Latin America | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 905 | ||
Cost capitalized subsequent to acquisition | 1,278 | ||
Gross amount carried at close of current period | 2,183 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 998 | ||
Privada Las Flores No. 25 (G3), Guadalajara, Mexico | Latin America | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Tula KM Parque de Las, Huehuetoca, Mexico | Latin America | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 2 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 19,937 | ||
Cost capitalized subsequent to acquisition | (771) | ||
Gross amount carried at close of current period | 19,166 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,864 | ||
Tula KM Parque de Las, Huehuetoca, Mexico | Latin America | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Carretera Pesqueria Km2.5(M3), Monterrey, Mexico | Latin America | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 2 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 3,537 | ||
Cost capitalized subsequent to acquisition | 3,691 | ||
Gross amount carried at close of current period | 7,228 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,636 | ||
Carretera Pesqueria Km2.5(M3), Monterrey, Mexico | Latin America | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Lote 2, Manzana A, (T2& T3), Toluca, Mexico | Latin America | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 2,204 | ||
Cost capitalized subsequent to acquisition | 4,790 | ||
Gross amount carried at close of current period | 6,994 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 5,167 | ||
Lote 2, Manzana A, (T2& T3), Toluca, Mexico | Latin America | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Prolongacion de la Calle 7 (T4), Toluca, Mexico | Latin America | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 7,544 | ||
Cost capitalized subsequent to acquisition | 15,171 | ||
Gross amount carried at close of current period | 22,715 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 7,341 | ||
Prolongacion de la Calle 7 (T4), Toluca, Mexico | Latin America | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Panamericana Sur, KM 57.5, Lima, Peru | Latin America | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 7 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,549 | ||
Cost capitalized subsequent to acquisition | 893 | ||
Gross amount carried at close of current period | 2,442 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,203 | ||
Panamericana Sur, KM 57.5, Lima, Peru | Latin America | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Av. Elmer Faucett 3462, Lima, Peru | Latin America | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 2 | ||
Encumbrances | $ 1,232 | ||
Initial cost to Company | 4,112 | ||
Cost capitalized subsequent to acquisition | 5,314 | ||
Gross amount carried at close of current period | 9,426 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 4,656 | ||
Av. Elmer Faucett 3462, Lima, Peru | Latin America | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Calle Los Claveles-Seccion 3, Lima, Peru | Latin America | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 8,179 | ||
Cost capitalized subsequent to acquisition | 32,720 | ||
Gross amount carried at close of current period | 40,899 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 9,227 | ||
Calle Los Claveles-Seccion 3, Lima, Peru | Latin America | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Warehouse No 4, Shanghai, China | Asia Pacific | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,530 | ||
Cost capitalized subsequent to acquisition | 671 | ||
Gross amount carried at close of current period | 2,201 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 373 | ||
Warehouse No 4, Shanghai, China | Asia Pacific | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
Jalan Karanggan Muda Raya No 59, Bogor Indonesia | Asia Pacific | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 7,897 | ||
Cost capitalized subsequent to acquisition | (316) | ||
Gross amount carried at close of current period | 7,581 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,195 | ||
Life on which depreciation in latest income statement is computed | 40 years | ||
1 Serangoon North Avenue 6, Singapore | Asia | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
1 Serangoon North Avenue 6, Singapore | Asia Pacific | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 58,637 | ||
Cost capitalized subsequent to acquisition | 21,633 | ||
Gross amount carried at close of current period | 80,270 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 5,058 | ||
2 Yung Ho Road, Singapore | Asia Pacific | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 10,395 | ||
Cost capitalized subsequent to acquisition | 871 | ||
Gross amount carried at close of current period | 11,266 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 836 | ||
2 Yung Ho Road, Singapore | Asia Pacific | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
26 Chin Bee Drive, Singapore | Asia Pacific | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 15,699 | ||
Cost capitalized subsequent to acquisition | 1,315 | ||
Gross amount carried at close of current period | 17,014 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 1,262 | ||
26 Chin Bee Drive, Singapore | Asia Pacific | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
IC1 69 Moo 2, Soi Wat Namdaeng, Bangkok, Thailand | Asia Pacific | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 2 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 13,226 | ||
Cost capitalized subsequent to acquisition | 6,136 | ||
Gross amount carried at close of current period | 19,362 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 2,659 | ||
IC1 69 Moo 2, Soi Wat Namdaeng, Bangkok, Thailand | Asia Pacific | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
8 Whitestone Drive, Austins Ferry, Australia | Asia Pacific | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
8 Whitestone Drive, Austins Ferry, Australia | Australia | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 681 | ||
Cost capitalized subsequent to acquisition | 2,532 | ||
Gross amount carried at close of current period | 3,213 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 404 | ||
6 Norwich Street, South Launceston, Australia | Asia Pacific | Maximum | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Life on which depreciation in latest income statement is computed | 40 years | ||
6 Norwich Street, South Launceston, Australia | Australia | |||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||
Facilities | facility | 1 | ||
Encumbrances | $ 0 | ||
Initial cost to Company | 1,090 | ||
Cost capitalized subsequent to acquisition | (83) | ||
Gross amount carried at close of current period | 1,007 | ||
Accumulated Depreciation of Real Estate Assets, As Reported on Schedule III | $ 93 |