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Segment Information
9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION
Our reportable segments as of December 31, 2023 are described in Note 11 to Notes to Consolidated Financial Statements included in our Annual Report and are as follows:
Global RIM Business
Global Data Center Business
The remaining activities of our business consist primarily of our Fine Arts and ALM businesses and other corporate items ("Corporate and Other").
The operations associated with acquisitions completed during the first nine months of 2024 have been incorporated into Corporate and Other.
An analysis of our business segment information and reconciliation to the accompanying Condensed Consolidated Financial Statements for the three and nine months ended September 30, 2024 and 2023 is as follows:
THREE MONTHS ENDED SEPTEMBER 30,NINE MONTHS ENDED SEPTEMBER 30,
2024202320242023
Global RIM Business
Total Revenues$1,260,358 $1,182,652 $3,721,092 $3,469,045 
Adjusted EBITDA568,994 516,548 1,644,004 1,493,394 
Global Data Center Business
Total Revenues$153,206 $127,535 $449,845 $357,873 
Adjusted EBITDA66,796 53,216 194,381 157,660 
Corporate and Other
Total Revenues$143,794 $77,988 $397,693 $233,542 
Adjusted EBITDA(67,677)(69,802)(207,056)(214,626)
Total Consolidated
Total Revenues$1,557,358 $1,388,175 $4,568,630 $4,060,460 
Adjusted EBITDA568,113 499,962 1,631,329 1,436,428 
Adjusted EBITDA for each segment is defined as net income (loss) before interest expense, net, provision (benefit) for income taxes, depreciation and amortization (inclusive of our share of Adjusted EBITDA from our unconsolidated joint ventures), and excluding certain items we do not believe to be indicative of our core operating results, specifically:
EXCLUDED
Acquisition and Integration Costs
Restructuring and other transformation
Loss (gain) on disposal/write-down of property, plant and equipment, net (including real estate)
Other expense (income), net
Stock-based compensation expense
Intangible impairments

Internally, we use Adjusted EBITDA as the basis for evaluating the performance of, and allocating resources to, our operating segments.
A reconciliation of Net (Loss) Income to Adjusted EBITDA on a consolidated basis for the three and nine months ended September 30, 2024 and 2023 is as follows:
 THREE MONTHS ENDED SEPTEMBER 30,NINE MONTHS ENDED SEPTEMBER 30,
2024202320242023
Net (Loss) Income$(33,665)$91,391 $77,981 $158,069 
Add/(Deduct):
Interest expense, net186,067 152,801 527,107 434,148 
Provision (benefit) for income taxes12,400 9,912 42,328 30,925 
Depreciation and amortization232,240 198,757 666,296 576,218 
Acquisition and Integration Costs11,262 9,909 28,573 13,015 
Restructuring and other transformation37,282 38,861 124,562 121,362 
Loss (gain) on disposal/write-down of property, plant and equipment, net (including real estate)
5,091 (4,416)8,270 (18,982)
Other expense (income), net, excluding our share of losses (gains) from our unconsolidated joint ventures
85,532 (17,626)76,954 58,559 
Stock-based compensation expense29,563 18,313 73,491 53,195 
Our share of Adjusted EBITDA reconciling items from our unconsolidated joint ventures2,341 2,060 5,767 9,919 
Adjusted EBITDA$568,113 $499,962 $1,631,329 $1,436,428 
Segment revenue by product and service lines for the three and nine months ended September 30, 2024 and 2023 is as follows:
THREE MONTHS ENDED SEPTEMBER 30,NINE MONTHS ENDED SEPTEMBER 30,
2024202320242023
Global RIM Business
Records Management(1)
$990,333 $926,424 $2,901,465 $2,693,046 
Data Management(1)
127,583 128,191 390,706 388,036 
Information Destruction(1)(2)
142,442 128,037 428,921 387,963 
Data Center(1)
— — — — 
Global Data Center Business
Records Management(1)
$— $— $— $— 
Data Management(1)
— — — — 
Information Destruction(1)
— — — — 
Data Center(1)
153,206 127,535 449,845 357,873 
Corporate and Other
Records Management(1)
$41,460 $36,092 $121,528 $107,849 
Data Management(1)
— — — — 
Information Destruction(1)(3)
102,334 41,896 276,165 125,693 
Data Center(1)
— — — — 
Total Consolidated
Records Management(1)
$1,031,793 $962,516 $3,022,993 $2,800,895 
Data Management(1)
127,583 128,191 390,706 388,036 
Information Destruction(1)(2)(3)
244,776 169,933 705,086 513,656 
Data Center(1)
153,206 127,535 449,845 357,873 
(1)Each of these offerings has a component of revenue that is storage rental related and a component that is service related, except for information destruction, which does not have a storage rental component.
(2)Information destruction revenue for our Global RIM Business includes secure shredding services.
(3)Information destruction revenue for Corporate and Other includes product revenue from our ALM business.