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Segment Information
3 Months Ended
Mar. 31, 2019
Segment Reporting [Abstract]  
Segment Information
Our six reportable operating segments as of December 31, 2018 are described in Note 9 to Notes to Consolidated Financial Statements included in our Annual Report and are as follows:
North American Records and Information Management Business
North American Data Management Business
Western European Business
Other International Business
Global Data Center Business
Corporate and Other Business

There have been no changes made to our reportable operating segments since December 31, 2018, other than the impact of the Consumer Storage Transaction (as defined in Note 9). Prior to the Consumer Storage Transaction, our consumer storage business was a component of our Corporate and Other Business Segment. The previously reported segment information has been restated to conform to the current presentation and reflects the changes to our reportable operating segments that occurred in fourth quarter of 2018 as described in Note 9 to Notes to Consolidated Financial Statements included in our Annual Report. The operations associated with acquisitions completed during the first three months of 2019 have been incorporated into our existing reportable operating segments.

An analysis of our business segment information and reconciliation to the accompanying Condensed Consolidated Financial Statements is as follows:
 
 
North American
Records and
Information
Management
Business
 
North American
Data
Management
Business
 
Western European Business
 
Other International Business
 
Global Data Center Business
 
Corporate
and Other
Business
 
Total
Consolidated
As of and for the Three Months Ended March 31, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Revenues
 
$
527,380

 
$
96,747

 
$
128,753

 
$
200,956

 
$
61,536

 
$
38,491

 
$
1,053,863

Storage Rental
 
306,986

 
66,572

 
80,695

 
129,473

 
59,718

 
19,530

 
662,974

Service
 
220,394

 
30,175

 
48,058

 
71,483

 
1,818

 
18,961

 
390,889

Depreciation and Amortization
 
60,002

 
10,202

 
15,257

 
30,599

 
31,632

 
14,791

 
162,483

Depreciation
 
45,752

 
8,013

 
10,947

 
18,218

 
19,013

 
12,668

 
114,611

Amortization
 
14,250

 
2,189

 
4,310

 
12,381

 
12,619

 
2,123

 
47,872

Adjusted EBITDA
 
223,683

 
50,552

 
39,209

 
58,124

 
26,011

 
(73,073
)
 
324,506

Total Assets(1)
 
5,823,817

 
902,514

 
1,414,878

 
2,686,938

 
2,310,001

 
551,215

 
13,689,363

Expenditures for Segment Assets
 
56,265

 
5,632

 
30,101

 
31,254

 
153,705

 
15,143

 
292,100

Capital Expenditures (see Liquidity and Capital Resources section of Management's Discussion & Analysis of Financial Condition and Results of Operations)
 
28,688

 
5,632

 
2,116

 
15,149

 
121,557

 
11,623

 
184,765

Cash Paid (Received) for Acquisitions, Net of Cash Acquired
 
9,876

 

 
11,484

 
14,543

 

 
3,520

 
39,423

Acquisitions of Customer Relationships, Customer Inducements and Contract Fulfillment Costs and third-party commissions.
 
17,701

 

 
16,501

 
1,562

 
32,148

 

 
67,912

As of and for the Three Months Ended March 31, 2018
 
 

 
 

 
 
 
 

 
 
 
 

 
 

Total Revenues
 
$
526,843

 
$
99,964

 
$
134,075

 
$
210,767

 
$
46,603

 
$
24,206

 
$
1,042,458

Storage Rental
 
304,819

 
69,246

 
83,952

 
131,747

 
45,495

 
15,890

 
651,149

Service
 
222,024

 
30,718

 
50,123

 
79,020

 
1,108

 
8,316

 
391,309

Depreciation and Amortization
 
62,752

 
10,104

 
17,556

 
31,873

 
22,268

 
16,025

 
160,578

Depreciation
 
49,138

 
8,023

 
12,758

 
19,064

 
11,380

 
13,069

 
113,432

Amortization
 
13,614

 
2,081

 
4,798

 
12,809

 
10,888

 
2,956

 
47,146

Adjusted EBITDA
 
225,738

 
53,852

 
43,966

 
60,747

 
20,790

 
(62,078
)
 
343,015

Total Assets(1)
 
5,030,238

 
833,690

 
917,155

 
2,441,685

 
1,875,766

 
899,615

 
11,998,149

Expenditures for Segment Assets
 
43,181

 
6,853

 
7,480

 
32,160

 
1,438,012

 
14,939

 
1,542,625

Capital Expenditures (see Liquidity and Capital Resources section of Management's Discussion & Analysis of Financial Condition and Results of Operations)
 
29,870

 
6,853

 
6,047

 
25,142

 
13,111

 
14,582

 
95,605

Cash Paid (Received) for Acquisitions, Net of Cash Acquired
 
1,551

 

 

 
3,208

 
1,424,215

 

 
1,428,974

Acquisitions of Customer Relationships, Customer Inducements and Contract Fulfillment Costs
 
11,760

 

 
1,433

 
3,810

 
686

 
357

 
18,046


______________________________________________________________
(1)
Excludes all intercompany receivables or payables and investment in subsidiary balances. Total assets as of March 31, 2019 reflects the adoption of ASU 2016-02.

The accounting policies of the reportable operating segments are the same as those described in Note 2 and in Note 2 to Notes to Consolidated Financial Statements included in our Annual Report. 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: (i) (gain) loss on disposal/write-down of property, plant and equipment, net (including real estate); (ii) intangible impairments; (iii) other expense (income), net (which includes foreign currency transaction (gains) losses, net); and (iv) Significant Acquisition Costs (as defined below). Internally, we use Adjusted EBITDA as the basis for evaluating the performance of, and allocating resources to, our operating segments.
A reconciliation of Adjusted EBITDA to income (loss) from continuing operations on a consolidated basis is as follows:
 
Three Months Ended
March 31,
 
2019
 
2018
Adjusted EBITDA
$
324,506

 
$
343,015

(Add)/Deduct:
 
 
 
Provision (Benefit) for Income Taxes
10,553

 
1,168

Other Expense (Income), Net
15,210

 
20,151

Interest Expense, Net
102,436

 
97,626

Loss (gain) on disposal/write-down of property, plant and equipment, net
602

 
(1,130
)
Depreciation and Amortization
162,483

 
160,578

Significant Acquisition Costs(1)
2,746

 
19,008

Income (Loss) from Continuing Operations
$
30,476

 
$
45,614

_______________________________________________________________________________

(1)
As defined in Note 9 to Notes to Consolidated Financial Statements included in our Annual Report.

Information as to our revenues by product and service lines by segment are as follows:
 
 
North
American
Records and Information Management Business
 
North
American
Data
Management
Business
 
Western European Business
 
Other International Business
 
Global Data Center Business
 
Corporate and
Other Business
 
Total
Consolidated
For the Three Months Ended March 31, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Records Management(1)
 
$
427,367

 
$

 
$
108,707

 
$
172,977

 
$

 
$
24,345

 
$
733,396

Data Management(1)
 

 
93,989

 
19,886

 
19,227

 

 
14,146

 
147,248

Information Destruction(1)(2)
 
100,013

 
2,758

 
160

 
8,752

 

 

 
111,683

Data Center
 

 

 

 

 
61,536

 

 
61,536

Total Revenues
 
$
527,380

 
$
96,747


$
128,753

 
$
200,956

 
$
61,536

 
$
38,491

 
$
1,053,863

For the Three Months Ended March 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Records Management(1)
 
$
435,002

 
$

 
$
113,759

 
$
181,330

 
$

 
$
10,404

 
$
740,495

Data Management(1)
 

 
97,594

 
20,219

 
20,478

 

 
13,802

 
152,093

Information Destruction(1)(2)
 
91,841

 
2,370

 
97

 
8,959

 

 

 
103,267

Data Center
 

 

 

 

 
46,603

 

 
46,603

Total Revenues
 
$
526,843

 
$
99,964

 
$
134,075

 
$
210,767

 
$
46,603

 
$
24,206

 
$
1,042,458

_______________________________________________________________________________

(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 for information destruction, which does not have a storage rental component.
(2)
Includes secure shredding services.