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v3.23.3

Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
Schedule of Analysis of Business Segment Information | 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, 2023 and 2022 is as follows:
| THREE MONTHS ENDED SEPTEMBER 30, |  | NINE MONTHS ENDED SEPTEMBER 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Global RIM Business |  |  |  |  |  |  |
Total Revenues | $ | 1,182,652 |  |  | $ | 1,091,102 |  |  | $ | 3,469,045 |  |  | $ | 3,210,469 |
Adjusted EBITDA | 516,548 |  |  | 483,862 |  |  | 1,493,394 |  |  | 1,402,025 |
Global Data Center Business |  |  |  |  |  |  |
Total Revenues | $ | 127,535 |  |  | $ | 100,309 |  |  | $ | 357,873 |  |  | $ | 297,384 |
Adjusted EBITDA | 53,216 |  |  | 42,660 |  |  | 157,660 |  |  | 126,944 |
Corporate and Other |  |  |  |  |  |  |
Total Revenues | $ | 77,988 |  |  | $ | 95,534 |  |  | $ | 233,542 |  |  | $ | 316,672 |
Adjusted EBITDA | (69,802) |  |  | (57,088) |  |  | (214,626) |  |  | (173,835) |
Total Consolidated |  |  |  |  |  |  |
Total Revenues | $ | 1,388,175 |  |  | $ | 1,286,945 |  |  | $ | 4,060,460 |  |  | $ | 3,824,525 |
Adjusted EBITDA | 499,962 |  |  | 469,434 |  |  | 1,436,428 |  |  | 1,355,134 |
Schedule of Reconciliation of Net Income (Loss) to Adjusted EBITDA | A reconciliation of Net Income (Loss) to Adjusted EBITDA on a consolidated basis for the three and nine months ended September 30, 2023 and 2022 is as follows:
| THREE MONTHS ENDED SEPTEMBER 30, |  | NINE MONTHS ENDED SEPTEMBER 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Net Income (Loss) | $ | 91,391 |  |  | $ | 192,931 |  |  | $ | 158,069 |  |  | $ | 436,496 |
Add/(Deduct): |  |  |  |  |  |  |
Interest expense, net | 152,801 |  |  | 121,767 |  |  | 434,148 |  |  | 351,266 |
Provision (benefit) for income taxes | 9,912 |  |  | 23,934 |  |  | 30,925 |  |  | 52,097 |
Depreciation and amortization | 198,757 |  |  | 175,077 |  |  | 576,218 |  |  | 536,946 |
Acquisition and Integration Costs | 9,909 |  |  | 5,554 |  |  | 13,015 |  |  | 38,093 |
Restructuring and other transformation | 38,861 |  |  | 3,382 |  |  | 121,362 |  |  | 3,382 |
(Gain) loss on disposal/write-down of property, plant and equipment, net (including real estate) | (4,416) |  |  | (14,170) |  |  | (18,982) |  |  | (66,124) |
Other (income) expense, net, excluding our share of losses (gains) from our unconsolidated joint ventures | (17,626) |  |  | (56,226) |  |  | 58,559 |  |  | (48,814) |
Stock-based compensation expense | 18,313 |  |  | 14,326 |  |  | 53,195 |  |  | 45,923 |
Our share of Adjusted EBITDA reconciling items from our unconsolidated joint ventures | 2,060 |  |  | 2,859 |  |  | 9,919 |  |  | 5,869 |
Adjusted EBITDA | $ | 499,962 |  |  | $ | 469,434 |  |  | $ | 1,436,428 |  |  | $ | 1,355,134 |
Schedule of Revenues by Product and Service Lines by Segment | Information as to our revenues by product and service lines by segment for the three and nine months ended September 30, 2023 and 2022 is as follows:
|  | THREE MONTHS ENDED SEPTEMBER 30, |  | NINE MONTHS ENDED SEPTEMBER 30,
|  | 2023 |  | 2022 |  | 2023 |  | 2022
Global RIM Business |  |  |  |  |  |  |  |
Records Management(1) |  | $ | 926,424 |  |  | $ | 829,357 |  |  | $ | 2,693,046 |  |  | $ | 2,450,903 |
Data Management(1) |  | 128,191 |  |  | 127,226 |  |  | 388,036 |  |  | 385,276 |
Information Destruction(1)(2) |  | 128,037 |  |  | 134,519 |  |  | 387,963 |  |  | 374,290 |
Data Center(1) |  | — |  |  | — |  |  | — |  |  | — |
Global Data Center Business |  |  |  |  |  |  |  |
Records Management(1) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Data Management(1) |  | — |  |  | — |  |  | — |  |  | — |
Information Destruction(1) |  | — |  |  | — |  |  | — |  |  | — |
Data Center(1) |  | 127,535 |  |  | 100,309 |  |  | 357,873 |  |  | 297,384 |
Corporate and Other |  |  |  |  |  |  |  |
Records Management(1) |  | $ | 36,092 |  |  | $ | 35,787 |  |  | $ | 107,849 |  |  | $ | 103,826 |
Data Management(1) |  | — |  |  | — |  |  | — |  |  | — |
Information Destruction(1)(3) |  | 41,896 |  |  | 59,747 |  |  | 125,693 |  |  | 212,846 |
Data Center(1) |  | — |  |  | — |  |  | — |  |  | — |
Total Consolidated |  |  |  |  |  |  |  |
Records Management(1) |  | $ | 962,516 |  |  | $ | 865,144 |  |  | $ | 2,800,895 |  |  | $ | 2,554,729 |
Data Management(1) |  | 128,191 |  |  | 127,226 |  |  | 388,036 |  |  | 385,276 |
Information Destruction(1)(2)(3) |  | 169,933 |  |  | 194,266 |  |  | 513,656 |  |  | 587,136 |
Data Center(1) |  | 127,535 |  |  | 100,309 |  |  | 357,873 |  |  | 297,384 |
(1)Each of these offerings has a component of revenue that is storage rental related and a component that is service revenue, except for information destruction, which does not have a storage rental component. (2)Includes secure shredding services. (3)Includes product revenue from ITRenew.

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