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Debt Debt (Tables)
 6 Months Ended
Jun. 30, 2020
Debt Disclosure [Abstract]  
Schedule of Carrying Amount and Fair Value of Long-Term Debt Instruments
Long-term debt is as follows:
 
 
June 30, 2020
 
 
December 31, 2019
 
 
Debt (inclusive of discount)
 
Unamortized Deferred Financing Costs
 
Carrying Amount
 
Fair
Value
 
 
Debt (inclusive of discount)
 
Unamortized Deferred Financing Costs
 
Carrying Amount
 
Fair
Value
Revolving Credit Facility(1)
 
$
362,106

 
$
(10,343
)
 
$
351,763

 
$
362,106

 
 
$
348,808


$
(12,053
)

$
336,755

 
$
348,808

Term Loan A(1)
 
221,875

 
—

 
221,875

 
221,875

 
 
228,125


—


228,125

 
228,125

Term Loan B(2)
 
683,008

 
(6,869
)
 
676,139

 
684,250

 
 
686,395

 
(7,493
)
 
678,902

 
686,890

Australian Dollar Term Loan (the "AUD Term Loan")(3)
 
219,717

 
(1,875
)
 
217,842

 
220,706

 
 
226,924


(2,313
)

224,611

 
228,156

UK Bilateral Revolving Credit Facility (the "UK Bilateral Facility")(4)
 
172,580

 
(1,488
)
 
171,092

 
172,580

 
 
184,601

 
(1,801
)
 
182,800

 
184,601

43/8% Senior Notes due 2021 (the "43/8% Notes")(5)
 
—

 
—

 
—

 
—

 
 
500,000


(2,436
)

497,564

 
503,450

6% Senior Notes due 2023 (the "6% Notes due 2023")(5)
 
—

 
—

 
—

 
—

 
 
600,000


(4,027
)

595,973

 
613,500

53/8% CAD Senior Notes due 2023 (the "CAD Notes")
 
183,252

 
(1,713
)
 
181,539

 
184,168

 
 
192,058


(2,071
)

189,987

 
199,380

53/4% Senior Subordinated Notes due 2024 (the "53/4% Notes")(5)
 
1,000,000

 
(5,722
)
 
994,278

 
1,007,500

 
 
1,000,000


(6,409
)

993,591

 
1,010,625

3% Euro Senior Notes due 2025 (the "Euro Notes")(5)
 
336,869

 
(3,142
)
 
333,727

 
328,043

 
 
336,468


(3,462
)

333,006

 
345,660

37/8% GBP Senior Notes due 2025 (the "GBP Notes")
 
493,085

 
(4,965
)
 
488,120

 
468,890

 
 
527,432


(5,809
)

521,623

 
539,892

53/8% Senior Notes due 2026 (the "53/8% Notes")
 
250,000

 
(2,541
)
 
247,459

 
251,250

 
 
250,000


(2,756
)

247,244

 
261,641

47/8% Senior Notes due 2027 (the "47/8% Notes due 2027")(5)
 
1,000,000

 
(10,309
)
 
989,691

 
975,000

 
 
1,000,000


(11,020
)

988,980

 
1,029,475

51/4% Senior Notes due 2028 (the "51/4% Notes due 2028")(5)
 
825,000

 
(9,152
)
 
815,848

 
822,938

 
 
825,000


(9,742
)

815,258

 
859,598

5% Senior Notes due 2028 (the "5% Notes")(5)
 
500,000

 
(5,837
)
 
494,163

 
490,625

 
 
—

 
—

 
—

 
—

47/8% Senior Notes due 2029 (the "47/8% Notes due 2029")(5)
 
1,000,000

 
(13,381
)
 
986,619

 
973,750

 
 
1,000,000

 
(14,104
)
 
985,896

 
1,015,640

51/4% Senior Notes due 2030 (the "51/4 Notes due 2030")(5)
 
1,300,000

 
(15,110
)
 
1,284,890

 
1,274,000

 
 
—

 
—

 
—

 
—

55/8% Senior Notes due 2032 (the "55/8% Notes")(5)
 
600,000

 
(6,974
)
 
593,026

 
600,000

 
 
—

 
—

 
—

 
—

Real Estate Mortgages, Financing Lease Liabilities and Other
 
486,619

 
(257
)
 
486,362

 
486,619

 
 
523,671


(406
)

523,265

 
523,671

Accounts Receivable Securitization Program
 
47,000

 
(196
)
 
46,804

 
47,000

 
 
272,062


(81
)

271,981

 
272,062

Mortgage Securitization Program(6)
 
50,000

 
(909
)
 
49,091

 
50,000

 
 
50,000

 
(982
)
 
49,018

 
50,000

Total Long-term Debt
 
9,731,111

 
(100,783
)
 
9,630,328

 
 

 
 
8,751,544

 
(86,965
)
 
8,664,579

 
 
Less Current Portion(7)
 
(880,212
)
 
—

 
(880,212
)
 
 

 
 
(389,013
)

—


(389,013
)
 
 

Long-term Debt, Net of Current Portion
 
$
8,850,899

 
$
(100,783
)
 
$
8,750,116

 
 

 
 
$
8,362,531


$
(86,965
)
 
$
8,275,566

 
 

__________________________________________________
(1)
Collectively, the credit agreement (the "Credit Agreement"). The Credit Agreement consists of a revolving credit facility (the "Revolving Credit Facility") and a term loan (the "Term Loan A"). The Credit Agreement is scheduled to mature on June 3, 2023. Of the $362,106 of outstanding borrowings under the Revolving Credit Facility as of June 30, 2020, $316,700 was denominated in United States dollars, 9,400 was denominated in Canadian dollars and 34,300 was denominated in Euros. In addition, we also had various outstanding letters of credit totaling $3,197. The remaining amount available for borrowing under the Revolving Credit Facility as of June 30, 2020 was $1,384,697 (which amount represents the maximum availability as of such date). The average interest rate in effect under the Credit Agreement was 1.9% as of June 30, 2020. The average interest rate in effect under the Revolving Credit Facility as of June 30, 2020 was 1.9% and the interest rate in effect under Term Loan A as of June 30, 2020 was 1.9%.
(2)
Consists of an incremental term loan B borrowed by IMI's wholly owned subsidiary, Iron Mountain Information Management, LLC, with an original principal amount of $700,000 (the "Term Loan B"). The Term Loan B is scheduled to mature on January 2, 2026. The interest rate in effect as of June 30, 2020 was 1.9%. The amount of debt for the Term Loan B reflects an unamortized original issue discount of $1,242 and $1,355 as of June 30, 2020 and December 31, 2019, respectively.
(3)
The interest rate in effect as of June 30, 2020 was 4.0%. We had 320,938 Australian dollars outstanding on the AUD Term Loan as of June 30, 2020. The amount of debt for the AUD Term Loan reflects an unamortized original issue discount of $989 and $1,232 as of June 30, 2020 and December 31, 2019, respectively.
(4)
The interest rate in effect as of June 30, 2020 was 2.8%.
(5)
Collectively, the "Parent Notes".
(6)
The interest rate in effect as of June 30, 2020 was 3.5%.
(7)
The Current portion of long-term debt as of June 30, 2020 includes $755,000 in aggregate principal amount of our outstanding 53/4% Notes. The $755,000 presented within the Current portion of long-term debt represents the portion of the 53/4% Notes we redeemed on July 2, 2020 utilizing funds that were received from the June 2020 Offerings (as defined and described below) and temporarily invested in money market funds as of June 30, 2020.
Schedule of Net Cash Position in Cash Pool Agreements
The approximate amount of the net cash position for our QRS Cash Pool and the TRS Cash Pool and the approximate amount of the gross position and outstanding debit balances for each of these pools as of June 30, 2020 and December 31, 2019 are as follows:
 
June 30, 2020
 
December 31, 2019
 
Gross Cash Position
 
Outstanding Debit Balances
 
Net Cash Position
 
Gross Cash Position
 
Outstanding Debit Balances
 
Net Cash Position
QRS Cash Pool
$
350,500

 
$
(347,300
)
 
$
3,200

 
$
372,100

 
$
(369,000
)
 
$
3,100

TRS Cash Pool
355,900

 
(355,000
)
 
900

 
319,800

 
(301,300
)
 
18,500