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Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Schedule of changes in the carrying value of goodwill attributable to each reportable operating segment

The changes in the carrying value of goodwill attributable to each reportable operating segment for the six months ended June 30, 2019 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
Goodwill balance, net of accumulated amortization as of December 31, 2018	$	2,251,795			$	493,491			$	381,806			$	818,223			$	425,956			$	69,759			$	4,441,030
Deductible goodwill acquired during the year	5,501				—				—				2,758				—				—				8,259
Non-deductible goodwill acquired during the year	—				—				5,011				4,387				—				1,904				11,302
Fair value and other adjustments(1)	55				—				959				2,842				258				(422		)		3,692
Currency effects	7,704				2,093				(2,851		)		1,907				193				95				9,141
Goodwill balance, net accumulated amortization as of June 30, 2019	$	2,265,055			$	495,584			$	384,925			$	830,117			$	426,407			$	71,336			$	4,473,424
Accumulated Goodwill Impairment Balance as of December 31, 2018	$	85,909			$	—			$	46,500			$	—			$	—			$	3,011			$	135,420
Accumulated Goodwill Impairment Balance as of June 30, 2019	$	85,909			$	—			$	46,500			$	—			$	—			$	3,011			$	135,420

_______________________________________________________________________________

(1) Total fair value and other adjustments primarily include $3,755 in net adjustments related to property, plant and equipment, customer relationships and data center lease-based intangible assets and deferred income taxes and other liabilities offset by $63 of cash received related to certain acquisitions completed in 2018.

Components of amortizable intangible assets

The other finite-lived intangible assets as of June 30, 2019 and December 31, 2018 are as follows:

	June 30, 2019												December 31, 2018
	Gross Carrying Amount				Accumulated Amortization				Net Carrying Amount				Gross Carrying Amount				Accumulated Amortization				Net Carrying Amount
Other finite-lived intangible assets (included in Other, a component of other assets, net)	$	19,960			$	(16,482	)		$	3,478			$	20,310			$	(14,798	)		$	5,512

The gross carrying amount and accumulated amortization of our finite-lived intangible assets as of June 30, 2019 and December 31, 2018 are as follows:

	June 30, 2019												December 31, 2018
	Gross Carrying Amount				Accumulated Amortization				Net Carrying Amount				Gross Carrying Amount				Accumulated Amortization				Net Carrying Amount
Assets:
Customer relationship intangible assets	$	1,766,769			$	(511,672	)		$	1,255,097			$	1,718,919			$	(455,705	)		$	1,263,214
Customer inducements	52,542				(29,091		)		23,451				56,478				(34,181		)		22,297
Data center lease-based intangible assets(1)	266,263				(77,786		)		188,477				271,818				(50,807		)		221,011
Third-party commissions asset(2)	31,391				(1,874		)		29,517				30,071				(1,089		)		28,982
	$	2,116,965			$	(620,423	)		$	1,496,542			$	2,077,286			$	(541,782	)		$	1,535,504
Liabilities:
Data center below-market leases	$	12,765			$	(2,954	)		$	9,811			$	12,318			$	(1,642	)		$	10,676

_______________________________________________________________________________

(1) Includes data center in-place lease intangible assets, data center tenant relationship intangible assets and data center above-market in-place lease intangible assets.

(2) Third-party commissions asset is included in Other, a component of Other assets, net in the accompanying Condensed Consolidated Balance Sheets as of June 30, 2019 and December 31, 2018. The third-party commissions asset is primarily comprised of additional payments associated with the execution of future customer contracts through the one-year anniversary of the acquisition of IODC, as described in Note 3.

Schedule of amortization expenses

Amortization expense associated with finite-lived intangible assets, revenue reduction associated with the amortization of customer inducements and net revenue reduction associated with the amortization of data center above-market leases and data center below-market leases for the three and six months ended June 30, 2019 and 2018 are as follows:

		Three Months Ended June 30,								Six Months Ended June 30,
		2019				2018				2019				2018
Amortization expense included in depreciation and amortization associated with:
Customer relationship and customer inducement intangible assets		$	28,283			$	28,813			$	56,164			$	57,619
Data center in-place leases and tenant relationships		11,372				7,563				23,981				18,401
Third-party commissions asset and other finite-lived intangible assets		2,184				1,659				2,941				2,844
Revenue reduction associated with amortization of:
Customer inducements		$	2,598			$	2,968			$	5,338			$	5,553
Data center above-market leases and data center below-market leases		935				1,293				1,840				2,372

Schedule of amortization expense associated with commissions asset and Intake Costs

The costs of the initial intake of customer records into physical storage ("Intake Costs") and capitalized commissions asset (collectively, "Contract Fulfillment Costs") as of June 30, 2019 and December 31, 2018 are as follows:

				June 30, 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)		$	34,915			$	(19,398	)		$	15,517			$	39,748			$	(24,504	)		$	15,244
Capitalized commissions asset		Other (within Other Assets, Net)		48,564				(17,895		)		30,669				58,424				(34,637		)		23,787

Amortization expense associated with the Intake Costs asset and capitalized commissions asset for the three and six months ended June 30, 2019 and 2018 are as follows:

	Three Months Ended June 30,								Six Months Ended June 30,
	2019				2018				2019				2018
Intake Costs asset	$	2,835			$	2,891			$	5,514			$	5,621
Capitalized commissions asset	5,935				3,793				9,881				7,380

Schedule of deferred revenue liabilities

Deferred revenue liabilities are reflected as follows in our Condensed Consolidated Balance Sheets:

Description		Location in Balance Sheet		June 30, 2019				December 31, 2018
Deferred revenue - Current		Deferred revenue		$	268,779			$	264,823
Deferred revenue - Long-term		Other Long-term Liabilities		25,436				26,401

Operating and financing lease right-of-use assets and lease liabilities

Operating and financing lease right-of-use assets and lease liabilities as of June 30, 2019 and January 1, 2019 (date of adoption of ASU 2016-02) are as follows:

Description		Location in Balance Sheet		June 30, 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		$	1,793,807			$	1,825,721
Financing lease right-of-use assets, net of accumulated depreciation(2)		Property, plant and equipment, net		344,320				361,078
Total				$	2,138,127			$	2,186,799
Liabilities:
Current
Operating lease liabilities		Accrued expenses and other current liabilities		$	212,968			$	209,911
Financing lease liabilities		Current portion of long-term debt		50,116				50,437
Total current lease liabilities				263,084				260,348
Long-term
Operating lease liabilities		Long-term operating lease liabilities, net of current portion		1,655,477				1,685,771
Financing lease liabilities		Long-term Debt, net of current portion		331,233				350,263
Total long-term lease liabilities				1,986,710				2,036,034
Total				$	2,249,794			$	2,296,382

______________________________________________________________

(1) At June 30, 2019, these assets are comprised of approximately 98% real estate related assets (which include land, buildings and racking) and 2% non-real estate related assets (which include warehouse equipment, vehicles, furniture and fixtures and computer hardware and software).

(2) At June 30, 2019, these assets are comprised of approximately 62% real estate related assets and 38% non-real estate related assets.

Lease, cost

Supplemental cash flow information relating to our leases for the six months ended June 30, 2019 is as follows:

Cash paid for amounts included in measurement of lease liabilities:		Six Months Ended June 30, 2019
Operating cash flows used in operating leases		$	167,426
Financing cash flows used in financing leases		$	31,146
Non-cash items:
Operating lease modifications and reassessments		$	14,024
New operating leases (including acquisitions)		$	87,482
New financing leases, modifications and reassessments		$	13,662

Weighted average remaining lease terms and discount rates as of June 30, 2019 are as follows:

Remaining Lease Term:
Operating leases		11.0 Years
Financing leases		11.0 Years
Discount Rate:
Operating leases		7.1%
Financing leases		5.6%

The components of the lease expense for the three and six months ended June 30, 2019 are as follows:

Description		Location in Statement of Operations		Three Months Ended June 30, 2019				Six Months Ended June 30, 2019
Operating lease cost(1)		Cost of sales and Selling, general and administrative		$	113,392			$	222,571
Financing lease cost:
Depreciation of financing lease right-of-use assets		Depreciation and amortization		$	14,942			$	31,271
Interest expense for financing lease liabilities		Interest expense, net		4,925				11,067
Total financing lease cost				$	19,867			$	42,338

______________________________________________________________

(1) Of the $113,392 incurred for the three months ended June 30, 2019, $110,441 is included within Cost of sales and $2,951 is included within Selling, general and administrative expenses. Of the $222,571 incurred for the six months ended June 30, 2019, $216,335 is included within Cost of sales and $6,236 is included within Selling, general and administrative expenses. Operating lease cost includes variable lease costs of $23,847 and $46,610 for the three and six months ended June 30, 2019, respectively.

Schedule of future minimum lease payments for capital leases

The estimated minimum future lease payments as of June 30, 2019, are as follows:

Year		Operating Leases(1)				Sublease Income				Financing Leases(1)
2019 (excluding the six months ended June 30, 2019)		$	171,378			$	(3,494	)		$	40,635
2020		321,670				(5,728		)		60,377
2021		295,696				(4,828		)		54,766
2022		271,552				(4,462		)		48,071
2023		246,252				(4,333		)		40,351
Thereafter		1,482,286				(10,185		)		296,260
Total minimum lease payments		2,788,834				$	(33,030	)		540,460
Less amounts representing interest or imputed interest		(920,389		)						(159,111		)
Present value of lease obligations		$	1,868,445							$	381,349

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 June 30, 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 capital lease and financing obligations associated with build to suit lease transactions at December 31, 2018.

Finance lease, liability, maturity

The estimated minimum future lease payments as of June 30, 2019, are as follows:

Year		Operating Leases(1)				Sublease Income				Financing Leases(1)
2019 (excluding the six months ended June 30, 2019)		$	171,378			$	(3,494	)		$	40,635
2020		321,670				(5,728		)		60,377
2021		295,696				(4,828		)		54,766
2022		271,552				(4,462		)		48,071
2023		246,252				(4,333		)		40,351
Thereafter		1,482,286				(10,185		)		296,260
Total minimum lease payments		2,788,834				$	(33,030	)		540,460
Less amounts representing interest or imputed interest		(920,389		)						(159,111		)
Present value of lease obligations		$	1,868,445							$	381,349

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 June 30, 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 capital lease and financing obligations associated with build to suit lease transactions at December 31, 2018.

Lessee, operating lease, liability, maturity

The estimated minimum future lease payments as of June 30, 2019, are as follows:

Year		Operating Leases(1)				Sublease Income				Financing Leases(1)
2019 (excluding the six months ended June 30, 2019)		$	171,378			$	(3,494	)		$	40,635
2020		321,670				(5,728		)		60,377
2021		295,696				(4,828		)		54,766
2022		271,552				(4,462		)		48,071
2023		246,252				(4,333		)		40,351
Thereafter		1,482,286				(10,185		)		296,260
Total minimum lease payments		2,788,834				$	(33,030	)		540,460
Less amounts representing interest or imputed interest		(920,389		)						(159,111		)
Present value of lease obligations		$	1,868,445							$	381,349

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 June 30, 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 capital lease and financing obligations associated with build to suit lease transactions at December 31, 2018.

Lessor, operating lease, maturity

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:

	Future minimum lease payments
2019 (excluding the six months ended June 30, 2019)	$	103,016
2020	155,581
2021	111,945
2022	79,763
2023	61,684

Summary of stock option activity

A summary of stock option activity for the six months ended June 30, 2019 is as follows:

	Stock Options
Outstanding at December 31, 2018	4,271,834
Granted	920,706
Exercised	(194,480	)
Forfeited	(12,525	)
Expired	(15,647	)
Outstanding at June 30, 2019	4,969,888
Options exercisable at June 30, 2019	3,160,175
Options expected to vest	1,704,441

Summary of restricted stock and RSU activity

The fair value of RSUs vested during the three and six months ended June 30, 2019 and 2018 is as follows:

	Three Months Ended June 30,								Six Months Ended June 30,
	2019				2018				2019				2018
Fair value of RSUs vested	$	2,375			$	676			$	17,710			$	16,006

A summary of RSU activity for the six months ended June 30, 2019 is as follows:

	RSUs
Non-vested at December 31, 2018	1,196,566
Granted	731,801
Vested	(527,239	)
Forfeited	(55,070	)
Non-vested at June 30, 2019	1,346,058

Schedule of performance units

The fair value of earned PUs that vested during the three and six months ended June 30, 2019 and 2018 is as follows:

	Three Months Ended June 30,								Six Months Ended June 30,
	2019				2018				2019				2018
Fair value of earned PUs that vested	$	—			$	—			$	6,503			$	3,033

Summary of Performance Unit (PU) activity

A summary of PU activity for the six months ended June 30, 2019 is as follows:

	Original PU Awards			PU Adjustment(1)			Total PU Awards
Non-vested at December 31, 2018	967,049			(299,948	)		667,101
Granted	380,856			—			380,856
Vested	(169,523	)		—			(169,523	)
Forfeited/Performance or Market Conditions Not Achieved	(11,093	)		(14,850	)		(25,943	)
Non-vested at June 30, 2019	1,167,289			(314,798	)		852,491

_______________________________________________________________________________

(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 three and six months ended June 30, 2019 and 2018 are as follows:

	Three Months Ended June 30,								Six Months Ended June 30,
	2019				2018				2019				2018
Income (loss) from continuing operations	$	92,347			$	92,263			$	122,823			$	131,652
Less: Net income (loss) attributable to noncontrolling interests	34				142				925				610
Income (loss) from continuing operations (utilized in numerator of Earnings Per Share calculation)	$	92,313			$	92,121			$	121,898			$	131,042
Income (loss) from discontinued operations, net of tax	$	128			$	(360	)		$	104			$	(822	)
Net income (loss) attributable to Iron Mountain Incorporated	$	92,441			$	91,761			$	122,002			$	130,220
Weighted-average shares—basic	286,925,000				285,984,000				286,727,000				285,622,000
Effect of dilutive potential stock options	148,629				237,708				190,016				243,636
Effect of dilutive potential RSUs and PUs	407,659				347,543				570,040				415,929
Weighted-average shares—diluted	287,481,288				286,569,251				287,487,056				286,281,565
Earnings (losses) per share—basic:
Income (loss) from continuing operations	$	0.32			$	0.32			$	0.43			$	0.46
Income (loss) from discontinued operations, net of tax	—				—				—				—
Net income (loss) attributable to Iron Mountain Incorporated(1)	$	0.32			$	0.32			$	0.43			$	0.46
Earnings (losses) per share—diluted:
Income (loss) from continuing operations	$	0.32			$	0.32			$	0.42			$	0.46
Income (loss) from discontinued operations, net of tax	—				—				—				—
Net income (loss) attributable to Iron Mountain Incorporated(1)	$	0.32			$	0.32			$	0.42			$	0.45
Antidilutive stock options, RSUs and PUs, excluded from the calculation	5,004,112				3,272,502				4,494,637				3,257,322

_______________________________________________________________________________

(1) Columns may not foot due to rounding.

Schedule of effective income tax rate reconciliation

Our effective tax rates for the three and six months ended June 30, 2019 and 2018 are as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2019(1)			2018(1)			2019(1)			2018(2)
Effective Tax Rate	10.3	%		22.0	%		14.7	%		16.5	%

_______________________________________________________________________________

(1) The primary reconciling items between the federal statutory tax rate of 21.0% and our overall effective tax rate for the three and six months ended June 30, 2019 and for the three months ended June 30, 2018 were the benefit derived from the dividends paid deduction and the impact of differences in the tax rates at which our foreign earnings are subject, including foreign exchange gains and losses in different jurisdictions with different tax rates.  

(2)

The primary reconciling items between the federal statutory tax rate of 21.0% and our overall effective tax rate for the six months ended June 30, 2018 were the benefit derived from the dividends paid deduction, a discrete tax benefit of approximately $14,000 associated with the resolution of a tax matter and the impact of differences in the tax rates at which our foreign earnings are subject, including foreign exchange gains and losses in different jurisdictions with different tax rates.

Assets and liabilities carried at fair value measured on a recurring basis

The assets and liabilities carried at fair value measured on a recurring basis as of June 30, 2019 and December 31, 2018, respectively, are as follows:

						Fair Value Measurements at June 30, 2019 Using
Description		Total Carrying Value at June 30, 2019				Quoted prices in active markets (Level 1)						Significant other observable inputs (Level 2)						Significant unobservable inputs (Level 3)
Money Market Funds(1)		$	4,418			$	—					$	4,418					$	—
Trading Securities		10,366				9,744				(2)		622				(3)		—
Interest Rate Swap Agreements Liabilities(5)		8,578				—						8,578						—

						Fair Value Measurements at December 31, 2018 Using
Description		Total Carrying Value at December 31, 2018				Quoted prices in active markets (Level 1)						Significant other observable inputs (Level 2)						Significant unobservable inputs (Level 3)
Time Deposits(1)		$	956			$	—					$	956					$	—
Trading Securities		10,753				10,248				(2)		505				(3)		—
Derivative Assets(4)		93				—						93						—
Interest Rate Swap Agreements Liabilities(5)		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 that are observable other than quoted market prices.

(4) Derivative assets and liabilities relate to short-term (six months or less) foreign currency contracts that we have entered into to hedge certain of our foreign exchange intercompany exposures. We calculate the 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. As of June 30, 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. We have not designated any of the forward contracts we have entered into as hedges.

(5)

We have 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 June 30, 2019 and December 31, 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 rate interest specified in the interest rate swap agreements). We have designated these interest rate swaps as cash flow hedges. Unrealized gains are recognized as assets while unrealized losses are recognized as liabilities. The fair value of the interest rate swaps are estimated using industry standard valuation models using market-based observable inputs, including interest rate curves.

Schedule of changes in accumulated other comprehensive items, net

The changes in accumulated other comprehensive items, net for the three and six months ended June 30, 2019, respectively, are as follows:

	Three Months Ended June 30, 2019												Six Months Ended June 30, 2019
	Foreign Currency Translation Adjustments				Fair Value Adjustments for Interest Rate Swap Agreements				Total				Foreign Currency Translation Adjustments				Fair Value Adjustments for Interest Rate Swap Agreements				Total
Beginning of Period	$	(247,313	)		$	(3,647	)		$	(250,960	)		$	(264,691	)		$	(973	)		$	(265,664	)
Other comprehensive (loss) income:
Foreign currency translation adjustment(1)	(5,930		)		—				(5,930		)		11,448				—				11,448
Fair value adjustments for interest rate swap agreements	—				(4,931		)		(4,931		)		—				(7,605		)		(7,605		)
Total other comprehensive (loss) income	(5,930		)		(4,931		)		(10,861		)		11,448				(7,605		)		3,843
End of Period	$	(253,243	)		$	(8,578	)		$	(261,821	)		$	(253,243	)		$	(8,578	)		$	(261,821	)

_____________________________________________________________

(1) This amount includes foreign exchange losses (gains) of $4,280 and $(1,861) for the three and six months ended June 30, 2019, respectively, related to the change in fair value of the portion of our Euro Notes (as defined and discussed more fully in Note 4) designated as a hedge of net investment of certain of our Euro denominated subsidiaries. For the six months ended June 30, 2019, we designated, on average, 274,161 Euros of our Euro Notes as a hedge of net investment of certain of our Euro denominated subsidiaries. As of June 30, 2019, cumulative net gains of $16,119 net of tax, are recorded in accumulated other comprehensive items, net associated with this net investment hedge.

The changes in accumulated other comprehensive items, net for the three and six months ended June 30, 2018, respectively, are as follows:

	Three Months Ended June 30, 2018												Six Months Ended June 30, 2018
	Foreign Currency Translation Adjustments				Fair Value Adjustments for Interest Rate Swap Agreements				Total				Foreign Currency Translation Adjustments				Fair Value Adjustments for Interest Rate Swap Agreements				Total
Beginning of Period	$	(73,897	)		$	(185	)		$	(74,082	)		$	(103,989	)		$	—			$	(103,989	)
Other comprehensive (loss) income:
Foreign currency translation adjustment(1)	(135,756		)		—				(135,756		)		(105,664		)		—				(105,664		)
Fair value adjustments for interest rate swap agreements	—				2,388				2,388				—				2,203				2,203
Total other comprehensive (loss) income	(135,756		)		2,388				(133,368		)		(105,664		)		2,203				(103,461		)
End of Period	$	(209,653	)		$	2,203			$	(207,450	)		$	(209,653	)		$	2,203			$	(207,450	)

______________________________________________________________

(1) This amount includes foreign exchange gains of $10,257 and $4,622 for the three and six months ended June 30, 2018, respectively, related to the change in fair value of the portion of our Euro Notes designated as a hedge of net investment of certain of our Euro denominated subsidiaries. For the six months ended June 30, 2018, we designated, on average, 179,881 Euros of our Euro Notes as a hedge of net investment of certain of our Euro denominated subsidiaries.

Other expense (income), net

Other (income) expense, net for the three and six months ended June 30, 2019 and 2018 consists of the following:

	Three Months Ended June 30,								Six Months Ended June 30,
	2019				2018				2019				2018
Foreign currency transaction (gains) losses, net	$	(19,331	)		$	(18,624	)		$	(1,634	)		$	3,161
Other, net	4,139				(432		)		1,652				(2,066		)
	$	(15,192	)		$	(19,056	)		$	18			$	1,095

Schedule of immaterial restatement

The following table sets forth the effect of the immaterial restatement to certain line items of our Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2018:

		Three Months Ended June 30, 2018				Six Months Ended June 30, 2018
Selling, general and administrative		$	1,899			$	9,339
Total Operating Expenses		$	1,899			$	9,339
Operating Income (Loss)		$	(1,899	)		$	(9,339	)
Interest Expense, Net		$	89			$	165
Income (Loss) from Continuing Operations Before Provision (Benefit) for Income Taxes		$	(1,988	)		$	(9,504	)
Provision (Benefit) for Income Taxes		$	(348	)		$	(1,639	)
Income (Loss) from Continuing Operations		$	(1,640	)		$	(7,865	)
Net Income (Loss)		$	(1,640	)		$	(7,865	)
Net Income (Loss) Attributable to Iron Mountain Incorporated		$	(1,640	)		$	(7,865	)
Earnings (Losses) per Share - Basic:
Income (Loss) from Continuing Operations		$	(0.01	)		$	(0.03	)
Net Income (Loss) from Continuing Operations Attributable to Iron Mountain		$	(0.01	)		$	(0.03	)
Earnings (Losses) per Share - Diluted:
Income (Loss) from Continuing Operations		$	(0.01	)		$	(0.03	)
Net Income (Loss) from Continuing Operations Attributable to Iron Mountain		$	(0.01	)		$	(0.03	)

The following table sets forth the effect of the immaterial restatement to certain line items of our Condensed 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	)

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