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Debt (Tables)
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Schedule of Carrying Amount and Fair Value of Long-term Debt Instruments
Long-term debt is as follows:
 DECEMBER 31, 2023DECEMBER 31, 2022
 DEBT (INCLUSIVE OF DISCOUNT)UNAMORTIZED DEFERRED FINANCING COSTSCARRYING AMOUNTFAIR
VALUE		DEBT (INCLUSIVE OF DISCOUNT)UNAMORTIZED DEFERRED FINANCING COSTSCARRYING AMOUNTFAIR
VALUE
Revolving Credit Facility(1)
$— $(4,621)$(4,621)$— $1,072,200 $(6,790)$1,065,410 $1,072,200 
Term Loan A(1)
228,125 — 228,125 228,125 240,625 — 240,625 240,625 
Term Loan B due 2026(1)(2)
659,298 (2,498)656,800 659,750 666,073 (3,747)662,326 666,750 
Term Loan B due 2031(1)(3)
1,191,000 (13,026)1,177,974 1,200,000 — — — — 
Virginia 3 Term Loans(5)
101,218 (4,641)96,577 101,218 — — — — 
Virginia 4/5 Term Loans(5)
16,338 (5,892)10,446 16,338 — — — — 
Australian Dollar Term Loan (4)(5)
197,743 (482)197,261 199,195 202,641 (633)202,008 204,623 
UK Bilateral Revolving Credit Facility(5)
178,239 — 178,239 178,239 169,361 — 169,361 169,361 
37/8% GBP Senior Notes due 2025 (the "GBP Notes")(6)(8)(9)
509,254 (1,763)507,491 489,108 483,888 (2,589)481,299 445,206 
47/8% Senior Notes due 2027 (the “47/8% Notes due 2027")(6)(7)(8)
1,000,000 (5,332)994,668 967,500 1,000,000 (6,754)993,246 917,500 
51/4% Senior Notes due 2028 (the “51/4% Notes due 2028")(6)(7)(8)
825,000 (5,019)819,981 800,250 825,000 (6,200)818,800 754,875 
5% Senior Notes due 2028 (the “5% Notes due 2028")(6)(7)(8)
500,000 (3,316)496,684 478,750 500,000 (4,039)495,961 450,000 
7% Senior Notes due 2029 (the "7% Notes due 2029")(6)(7)(8)
1,000,000 (10,813)989,187 1,027,500 — — — — 
47/8% Senior Notes due 2029 (the “47/8% Notes due 2029")(6)(7)(8)
1,000,000 (8,318)991,682 945,000 1,000,000 (9,764)990,236 865,000 
51/4% Senior Notes due 2030 (the “51/4% Notes due 2030")(6)(7)(8)
1,300,000 (9,903)1,290,097 1,241,500 1,300,000 (11,407)1,288,593 1,111,500 
41/2% Senior Notes due 2031 (the “41/2% Notes")(6)(7)(8)
1,100,000 (8,917)1,091,083 995,500 1,100,000 (10,161)1,089,839 891,000 
5% Senior Notes due 2032 (the “5% Notes due 2032")(6)(8)(10)
750,000 (11,206)738,794 684,375 750,000 (12,511)737,489 622,500 
55/8% Senior Notes due 2032 (the “55/8% Notes")(6)(7)(8)
600,000 (4,985)595,015 567,000 600,000 (5,566)594,434 520,500 
Real Estate Mortgages, Financing Lease Liabilities and Other(11)
519,907 (403)519,504 519,907 425,777 (578)425,199 425,777 
Accounts Receivable Securitization Program(12)
358,500 (317)358,183 358,183 314,700 (531)314,169 314,700 
Total Long-term Debt12,034,622 (101,452)11,933,170 10,650,265 (81,270)10,568,995 
Less Current Portion(120,670)— (120,670)(87,546)— (87,546)
Long-term Debt, Net of Current Portion$11,913,952 $(101,452)$11,812,500 $10,562,719 $(81,270)$10,481,449 
(1)The capital stock or other equity interests of our United States subsidiaries representing the substantial majority of our United States operations, 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 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 Revolving Credit Facility. The fair value (Level 2 and Level 3 of fair value hierarchy described at Note 2.p.) 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, 2023 and 2022 (collectively, the “Credit Agreement Collateral”).
(2)The amount of debt for the Term Loan B due 2026 (as defined below) reflects an unamortized original issue discount of $452 and $677 as of December 31, 2023 and 2022, respectively.
(3)The amount of debt for the Term Loan B due 2031 (as defined below) reflects an unamortized original issue discount of $9,000 as of December 31, 2023.
(4)The amount of debt for the AUD Term Loan reflects an unamortized original issue discount of $1,452 and $1,982 as of December 31, 2023 and 2022, respectively.
(5)The fair value (Level 2 of fair value hierarchy described at Note 2.p.) of this debt instrument approximates the carrying value as borrowings under this debt instrument are based on a current variable market interest rate.
(6)The fair values (Level 2 of fair value hierarchy described at Note 2.p.) of these debt instruments are based on quoted market prices for comparable notes on December 31, 2023 and 2022, respectively.
(7)Collectively, the "Parent Notes". IMI is the direct obligor on the Parent Notes, which are fully and unconditionally guaranteed, on a senior basis, by IMI’s United States subsidiaries that represent the substantial majority of our United States operations (the "Note Guarantors"). These guarantees are joint and several obligations of the Note Guarantors. The remainder of our subsidiaries do not guarantee the Parent Notes.
(8)Collectively, the "Unregistered Notes". 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.
(9)Iron Mountain (UK) PLC ("IM UK") is the direct obligor on the GBP Notes, which are fully and unconditionally guaranteed, on a senior basis, by IMI and the Note Guarantors. These guarantees are joint and several obligations of IMI and the Note Guarantors. The remainder of our subsidiaries do not guarantee the GBP Notes.
(10)Iron Mountain Information Management Services, Inc. ("IMIM Services") is the direct obligor on the 5% Notes due 2032, which are fully and unconditionally guaranteed, on a senior basis, by IMI and the Note Guarantors. These guarantees are joint and several obligations of IMI and the Note Guarantors. The remainder of our subsidiaries do not guarantee the 5% Notes due 2032.
(11)We believe the fair value (Level 2 of fair value hierarchy described at Note 2.p.) of this debt approximates its carrying value as these borrowings are based on current market interest rates. This debt includes the following:
 DECEMBER 31, 2023DECEMBER 31, 2022
Real estate mortgages(1)
$57,753 $58,355 
Financing lease liabilities(2)
349,865 332,905 
Other notes and other obligations(3)
112,289 34,517 
 $519,907 $425,777 
(1)Bear interest at approximately 3.6% at both December 31, 2023 and 2022, and includes $50,000 outstanding under our Mortgage Securitization Program at both December 31, 2023 and 2022.
(2)Bear a weighted average interest rate of 6.1% and 5.2% at December 31, 2023 and 2022.
(3)These notes and other obligations, which were assumed by us as a result of certain acquisitions bear a weighted average interest rate of 8.5% and 10.1% at December 31, 2023 and 2022.
(12) The Accounts Receivable Securitization Special Purpose Subsidiaries are the obligors under this program. We believe the fair value (Level 2 of fair value hierarchy described at Note 2.p.) of this debt approximates its carrying value as borrowings under this debt instrument are based on a current variable market interest rate.
On May 15, 2023, IMI completed a private offering of:
SERIES OF NOTESAGGREGATE PRINCIPAL AMOUNT
7% Notes due 2029
$1,000,000 
Schedule of Redemption Dates and Prices of the Senior or Senior Subordinated Notes
The key terms of our indentures are as follows:
SENIOR NOTESAGGREGATE
PRINCIPAL
AMOUNT		DIRECT
OBLIGOR		MATURITY DATECONTRACTUAL INTEREST RATEINTEREST PAYMENTS DUE
PAR CALL DATE(1)
GBP Notes£400,000  
IM UK
November 15, 2025
37/8%
May 15 and November 15November 15, 2022
47/8% Notes due 2027
$1,000,000 
IMI
September 15, 2027
47/8%
March 15 and September 15September 15, 2025
51/4% Notes due 2028
$825,000 
IMI
March 15, 2028
51/4%
March 15 and September 15March 15, 2025
5% Notes due 2028$500,000 
IMI
July 15, 2028
5%
January 15 and July 15July 15, 2025
7% Notes due 2029$1,000,000 
IMI
February 15, 20297%February 15 and August 15August 15, 2025
47/8% Notes due 2029
$1,000,000 
IMI
September 15, 2029
47/8%
March 15 and September 15September 15, 2027
51/4% Notes due 2030
$1,300,000 
IMI
July 15, 2030
51/4%
January 15 and July 15July 15, 2028
41/2% Notes
$1,100,000 
IMI
February 15, 2031
41/2%
February 15 and August 15February 15, 2029
5% Notes due 2032$750,000 IMIM ServicesJuly 15, 20325%May 15 and November 15July 15, 2027
55/8% Notes
$600,000 
IMI
July 15, 2032
55/8%
January 15 and July 15July 15, 2029
(1)We may redeem the notes at any time, at our option, in whole or in part. Prior to the par call date, we may redeem the notes at the redemption price or make-whole premium specified in the applicable indenture, together with accrued and unpaid interest to, but excluding, the redemption date. On or after the par call date, we may redeem the notes at a price equal to 100% of the principal amount being redeemed, together with accrued and unpaid interest to, but excluding, the redemption date.
Schedule of Maturities of Long-term Debt MATURITIES OF LONG-TERM DEBT (GROSS OF DISCOUNTS) ARE AS FOLLOWS:
YEARAMOUNT
2024$120,670 
20251,221,903 
20261,055,120 
20271,238,920 
20281,393,004 
Thereafter7,015,909 
12,045,526 
Net Discounts(10,904)
Net Deferred Financing Costs (101,452)
Total Long-term Debt (including current portion)$11,933,170