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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2013
Summary of Significant Accounting Policies  
Useful lives of Property, Plant and Equipment

 

Building and building improvements

   5 to 40 years

Leasehold improvements

   10 years or the life of the lease, whichever is shorter

Racking

   1 to 20 years

Warehouse equipment and vehicles

   1 to 10 years

Furniture and fixtures

   2 to 10 years

Computer hardware and software

   3 to 5 years
Property, Plant and Equipment at cost

 

 
   December 31,  
 
   2012   2013  

Land

   $ 199,354   $ 203,423  

Buildings and building improvements

     1,217,107     1,283,458  

Leasehold improvements

     461,927     499,906  

Racking

     1,481,377     1,536,212  

Warehouse equipment/vehicles

     366,754     365,171  

Furniture and fixtures

     81,093     53,590  

Computer hardware and software

     526,973     511,927  

Construction in progress

     108,738     177,380  
           
​ ​ ​ ​ ​ ​ ​ ​

 

   $ 4,443,323   $ 4,631,067  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           
Reconciliation of liabilities for asset retirement obligations (included in other long-term liabilities)

 

 
   December 31,  
 
   2012   2013  

Asset Retirement Obligations, beginning of the year

   $ 10,116   $ 10,982  

Liabilities Incurred

     389     480  

Liabilities Settled

     (785 )   (687 )

Accretion Expense

     1,056     1,123  

Foreign Currency Exchange Movement

     206     (89 )
           
​ ​ ​ ​ ​ ​ ​ ​

Asset Retirement Obligations, end of the year

   $ 10,982   $ 11,809  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           
Changes in the carrying value of goodwill attributable to each reportable operating segment

 

 
   North American
Records and
Information
Management
Business		   North American
Data
Management
Business		   International
Business		   Total
Consolidated		  

Gross Balance as of December 31, 2011

   $ 1,608,193   $ 402,048   $ 564,044   $ 2,574,285  

Deductible goodwill acquired during the year

     6,084     1,521     32,609     40,214  

Non-deductible goodwill acquired during the year

     —     —     18,079     18,079  

Currency effects

     4,900     1,225     16,796     22,921  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Gross Balance as of December 31, 2012

     1,619,177     404,794     631,528     2,655,499  

Deductible goodwill acquired during the year

     40,046     10,011     13,983     64,040  

Non-deductible goodwill acquired during the year

     34,066     8,517     35,129     77,712  

Fair value and other adjustments

     7,144     1,786     (408 )   8,522(1 )

Currency effects

     (12,153 )   (3,038 )   (6,897 )   (22,088 )
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Gross Balance as of December 31, 2013

   $ 1,688,280   $ 422,070   $ 673,335   $ 2,783,685  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   

Accumulated Amortization Balance as of December 31, 2011

   $ 209,090   $ 52,272   $ 58,655   $ 320,017  

Currency effects

     242     60     421     723  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Accumulated Amortization Balance as of December 31, 2012

     209,332     52,332     59,076     320,740  

Currency effects

     (603 )   (151 )   347     (407 )
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Accumulated Amortization Balance as of December 31, 2013

   $ 208,729   $ 52,181   $ 59,423   $ 320,333  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   

Net Balance as of December 31, 2012

   $ 1,409,845   $ 352,462   $ 572,452   $ 2,334,759  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   

Net Balance as of December 31, 2013

   $ 1,479,551   $ 369,889   $ 613,912   $ 2,463,352  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   

Accumulated Goodwill Impairment Balance as of December 31, 2012

   $ 85,909   $ —   $ 46,500   $ 132,409  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   

Accumulated Goodwill Impairment Balance as of December 31, 2013

   $ 85,909   $ —   $ 46,500   $ 132,409  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   
(1)
Total fair value and other adjustments primarily include $8,446 in net adjustments to property, plant and equipment, net, customer relationships and deferred income taxes, as well as $76 of cash paid related to acquisitions made in previous years.
Gross carrying amount and accumulated amortization

 

 
   December 31,  
 
   2012   2013  

Gross Carrying Amount

              

Customer relationship and acquisition costs

   $ 685,898   $ 879,378  

Other intangible assets (included in other assets, net)

     9,778     9,475  

Accumulated Amortization

              

Customer relationship and acquisition costs

   $ 229,778   $ 273,894  

Other intangible assets (included in other assets, net)

     5,875     7,305  
Amortization expense

 

 
   Year Ended December 31,  
 
   2011   2012   2013  

Customer relationship and acquisition costs:

                    

Amortization expense included in depreciation and amortization

   $ 27,900   $ 34,806   $ 37,725  

Amortization expense offsetting revenues

     10,100     10,784     11,788  

Other intangible assets:

                    

Amortization expense included in depreciation and amortization

     961     940     1,456  
Estimated amortization expense for existing intangible assets for the next five succeeding fiscal years

 

 
   Estimated Amortization  
 
   Included in Depreciation
and Amortization		   Charged to
Revenues		  

2014

   $ 46,606   $ 7,466  

2015

     46,295     6,403  

2016

     46,068     4,854  

2017

     44,373     2,917  

2018

     43,703     2,228  
Components of prepaid expenses

 

 
   December 31,  
 
   2012   2013  

Income tax receivable

   $ 68,312   $ 31,915  

Other

     96,401     112,886  
           
​ ​ ​ ​ ​ ​ ​ ​

Prepaid expenses

   $ 164,713   $ 144,801  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           
Components of accrued expenses

 

 
   December 31,  
 
   2012   2013  

Interest

   $ 64,227   $ 71,971  

Payroll and vacation

     80,931     91,519  

Incentive compensation

     63,828     58,562  

Dividend

     53,042     55,142  

Self-insured liabilities (Note 10.b.)

     34,806     32,850  

Other

     129,979     151,294  
           
​ ​ ​ ​ ​ ​ ​ ​

Accrued expenses

   $ 426,813   $ 461,338  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           
Stock-based compensation expense for Employee Stock-Based Awards related to continuing operations

 

 
   Year Ended December 31,  
 
   2011   2012   2013  

Cost of sales (excluding depreciation and amortization)

   $ 914   $ 1,392   $ 293  

Selling, general and administrative expenses

     16,336     28,968     30,061  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total stock-based compensation

   $ 17,250   $ 30,360   $ 30,354  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               
Summary of the weighted average assumptions used for stock option grants

 

Weighted Average Assumptions
  2011   2012   2013  

Expected volatility

     33.4 %   33.8 %   33.8 %

Risk-free interest rate

     2.40 %   1.24 %   1.13 %

Expected dividend yield

     3 %   3 %   3 %

Expected life

     6.3 years     6.3 years     6.3 years  
Summary of stock option activity

 

 
   Options   Weighted
Average
Exercise
Price		   Weighted
Average
Remaining
Contractual
Term		   Aggregate
Intrinsic
Value		  

Outstanding at December 31, 2012

     5,908,102   $ 23.39              

Granted

     261,698     33.03              

Exercised

     (895,372 )   22.30              

Forfeited

     (121,006 )   21.81              

Expired

     (7,683 )   28.71              
                         
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Outstanding at December 31, 2013

     5,145,739   $ 24.09     4.69   $ 33,618  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   

Options exercisable at December 31, 2013

     3,779,348   $ 23.66     4.10   $ 25,990  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   

Options expected to vest

     1,193,816   $ 25.37     6.91   $ 6,605  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   
Aggregate intrinsic value of stock options exercised

 

 
   Year Ended December 31,  
 
   2011   2012   2013  

Aggregate intrinsic value of stock options exercised

   $ 37,901   $ 15,859   $ 11,024  
Summary of restricted stock and RSU activity

 

 
   Restricted
Stock and RSUs		   Weighted-
Average
Grant-Date
Fair Value		  

Non-vested at December 31, 2012

     1,303,664   $ 29.89  

Granted

     758,799     29.75  

Vested

     (555,776 )   29.94  

Forfeited

     (71,457 )   30.62  
             
​ ​ ​ ​ ​ ​ ​ ​

Non-vested at December 31, 2013

     1,435,230   $ 29.76  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           
Summary of Performance Unit (PU) activity

 

 
   Original
PU Awards		   PU Adjustment(1)   Total
PU Awards		   Weighted-
Average
Grant-Date
Fair Value		  

Non-vested at December 31, 2012

     236,093     (4,447 )   231,646   $ 29.12  

Granted

     198,869     (25,536 )   173,333     38.81  

Vested

     (94,019 )   6,251     (87,768 )   33.74  

Forfeited

     (6,395 )   —     (6,395 )   30.77  
                     
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Non-vested at December 31, 2013

     334,548     (23,732 )   310,816   $ 33.18  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   
(1)
Represents an increase or decrease in the number of original PUs awarded based on either (a) the final performance criteria achievement at the end of the defined performance period of such PUs or (b) 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

 

 
   Year Ended December 31,  
 
   2011   2012   2013  

Income (loss) from continuing operations

   $ 246,412   $ 183,493   $ 99,961  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

Total income (loss) from discontinued operations (see Note 14)

   $ 153,180   $ (8,659 ) $ 831  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

Net income (loss) attributable to Iron Mountain Incorporated

   $ 395,538   $ 171,708   $ 97,262  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

Weighted-average shares—basic

     194,777,000     173,604,000     190,994,000  

Effect of dilutive potential stock options

     1,060,477     914,308     995,836  

Effect of dilutive potential restricted stock, RSUs and PUs

     100,136     349,128     422,045  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Weighted-average shares—diluted

     195,937,613     174,867,436     192,411,881  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

Earnings (losses) per share—basic:

                    

Income (loss) from continuing operations

   $ 1.27   $ 1.06   $ 0.52  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

Total income (loss) from discontinued operations (see Note 14)

   $ 0.79   $ (0.05 ) $ 0.00  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

Net income (loss) attributable to Iron Mountain Incorporated—basic

   $ 2.03   $ 0.99   $ 0.51  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

Earnings (losses) per share—diluted:

                    

Income (loss) from continuing operations

   $ 1.26   $ 1.05   $ 0.52  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

Total income (loss) from discontinued operations (see Note 14)

   $ 0.78   $ (0.05 ) $ 0.00  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

Net income (loss) attributable to Iron Mountain Incorporated—diluted

   $ 2.02   $ 0.98   $ 0.51  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

Antidilutive stock options, RSUs and PUs, excluded from the calculation

     3,973,760     1,286,150     903,416  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               
Roll forward of allowance for doubtful accounts and credit memo reserves

 

Year Ended December 31,
  Balance at
Beginning of
the Year		   Credit Memos
Charged to
Revenue		   Allowance for
Bad Debts
Charged to
Expense		   Other(1)   Deductions(2)   Balance at
End of
the Year		  

2011

   $ 20,747   $ 39,343   $ 9,506   $ (205 ) $ (46,114 ) $ 23,277  

2012

     23,277     39,723     8,323     977     (47,091 )   25,209  

2013

     25,209     49,483     11,321     3,612     (54,980 )   34,645  
(1)
Primarily consists of recoveries of previously written-off accounts receivable, allowances of businesses acquired and the impact associated with currency translation adjustments.

(2)
Primarily consists of the issuance of credit memos and the write-off of accounts receivable.
Assets and liabilities carried at fair value measured on a recurring basis

 

 
    
   Fair Value Measurements at December 31,
2012 Using		  
Description
  Total Carrying
Value at
December 31,
2012		   Quoted prices
in active
markets
(Level 1)		   Significant other
observable
inputs
(Level 2)		   Significant
unobservable
inputs
(Level 3)		  

Money Market Funds(1)

   $ 68,800   $ —   $ 68,800   $ —  

Time Deposits(1)

     149,829     —     149,829     —  

Trading Securities

     11,071     10,525 (2)   546 (1)   —  

Derivative Liabilities(3)

     1,522     —     1,522     —  


 

 
    
   Fair Value Measurements at December 31,
2013 Using		  
Description
  Total Carrying
Value at
December 31,
2013		   Quoted prices
in active
markets
(Level 1)		   Significant other
observable
inputs
(Level 2)		   Significant
unobservable
inputs
(Level 3)		  

Money Market Funds(1)

   $ 33,860   $ —   $ 33,860   $ —  

Time Deposits(1)

     2,753     —     2,753     —  

Trading Securities

     13,386     12,785 (2)   601 (1)   —  

Derivative Assets(3)

     72     —     72     —  

Derivative Liabilities(3)

     5,592     —     5,592     —  
(1)
Money market funds and time deposits (including certain trading securities) are measured based on quoted prices for similar assets and/or subsequent transactions.

(2)
Securities are measured at fair value using quoted market prices.

(3)
Our derivative assets and liabilities primarily relate to short- term (six months or less) foreign currency contracts that we have entered into to hedge our intercompany exposures denominated in British pounds sterling, Euros and Australian dollars. We calculate the fair value of such forward contracts by adjusting the spot rate utilized at the balance sheet date for translation purposes by an estimate of the forward points observed in active markets.
Schedule of accumulated other comprehensive items, net

 

 
   December 31,  
 
   2012   2013  

Foreign currency translation adjustments

   $ 20,314   $ (9,586 )

Market value adjustments for securities, net of tax

     0     926  
           
​ ​ ​ ​ ​ ​ ​ ​

 

   $ 20,314   $ (8,660 )
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           
Other expense (income), net

 

 
   Year Ended December 31,  
 
   2011   2012   2013  

Foreign currency transaction losses (gains), net

   $ 17,352   $ 10,223   $ 36,201  

Debt extinguishment expense, net

     993     10,628     43,724  

Other, net

     (5,302 )   (4,789 )   (4,723 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 13,043   $ 16,062   $ 75,202  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​