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Segment Information
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Segment Information
As of December 31, 2023, our two reportable segments are described as follows:
(1)Global Records and Information Management ("Global RIM") Business includes several distinct offerings:
(i)Records Management, which stores physical records and provides information services, vital records services, courier operations, and the collection, handling and disposal of sensitive documents ("Records Management") for customers in 60 countries around the globe.
(ii)Data Management, which provides storage and rotation of backup computer media as part of corporate disaster recovery plans, including service and courier operations, server and computer backup services and related services offerings ("Data Management").
(iii)Global Digital Solutions, which develops, implements and supports comprehensive storage and information management solutions for the complete lifecycle of our customers’ information, including the management of physical records, conversion of documents to digital formats and digital storage of information.
(iv)Secure Shredding, which includes the scheduled pick-up of office records that customers accumulate in specially designed secure containers we provide and is a natural extension of our hardcopy records management operations, completing the lifecycle of a record. Through a combination of shredding facilities and mobile shredding units consisting of custom built trucks, we are able to offer secure shredding services to our customers.
(v)Entertainment Services, which help entertainment and media services clients store, safeguard and deliver physical media of all types, and provides digital content repository systems that house, distribute, and archive key media assets.
(vi)Consumer Storage, which provides on-demand, valet storage for consumers utilizing data analytics and machine learning to provide effective customer acquisition and a convenient and seamless consumer storage experience.
(2)Global Data Center Business, which provides enterprise-class data center facilities and hyperscale-ready capacity to protect mission-critical assets and ensure the continued operation of our customers’ IT infrastructure, with secure, reliable and flexible data center options.
The remaining activities of our business consist primarily of our Fine Arts and ALM businesses and other corporate items ("Corporate and Other").
(i)Fine Arts provides technical expertise in the handling, installation and storing of art.
(ii)ALM provides hyperscale and corporate IT infrastructure managers with services and solutions that enable the decommissioning, data erasure, processing and disposition or sale of IT hardware and component assets. ALM services are enabled by: secure logistics, chain of custody and complete asset traceability practices, environmentally-responsible asset processing and recycling, and data sanitization and asset refurbishment services that enable value recovery through asset remarketing. In addition, ALM also offers workplace IT asset management services including storage, configuration, deployment, device support and end-of-life disposition for employee IT devices. Our ALM services focus on protecting and eradicating customer data while maintaining strong, auditable and transparent chain of custody practices.
(iii)Corporate and Other also includes costs related to executive and staff functions, including finance, human resources and IT, which benefit the enterprise as a whole.
An analysis of our business segment information and reconciliation to the accompanying Consolidated Financial Statements is as follows:
GLOBAL RIM BUSINESSGLOBAL
DATA CENTER BUSINESS		CORPORATE 
AND OTHER 		TOTAL
CONSOLIDATED
As of and for the Year Ended December 31, 2023   
Total Revenues$4,661,776 $495,026 $323,487 $5,480,289 
Storage Rental2,834,352 474,066 62,227 3,370,645 
Service1,827,424 20,960 261,260 2,109,644 
Depreciation and Amortization470,934 158,817 146,408 776,159 
Depreciation313,956 117,738 94,156 525,850 
Amortization156,978 41,079 52,252 250,309 
Adjusted EBITDA2,027,037 215,945 (281,305)1,961,677 
Total Assets(1)
10,876,225 4,788,600 1,808,977 17,473,802 
Expenditures for Segment Assets391,889 946,791 143,390 1,482,070 
Capital Expenditures284,978 928,883 125,362 1,339,223 
Cash Paid for Acquisitions, Net of Cash Acquired24,919 (764)17,694 41,849 
Acquisitions of Customer Relationships, Customer Inducements and Contract Costs81,992 18,672 334 100,998 
As of and for the Year Ended December 31, 2022   
Total Revenues$4,295,115 $401,125 $407,334 $5,103,574 
Storage Rental2,606,721 372,208 55,094 3,034,023 
Service1,688,394 28,917 352,240 2,069,551 
Depreciation and Amortization469,419 140,028 118,148 727,595 
Depreciation308,207 103,953 66,824 478,984 
Amortization161,212 36,075 51,324 248,611 
Adjusted EBITDA1,887,589 175,622 (236,154)1,827,057 
Total Assets(1)
10,654,650 3,752,088 1,733,776 16,140,514 
Expenditures for Segment Assets303,342 650,534 803,733 1,757,609 
Capital Expenditures246,216 551,232 77,930 875,378 
Cash Paid for Acquisitions, Net of Cash Acquired(23)78,103 725,610 803,690 
Acquisitions of Customer Relationships, Customer Inducements and Contract Costs57,149 21,199 193 78,541 
As of and for the Year Ended December 31, 2021   
Total Revenues$3,994,988 $326,898 $169,645 $4,491,531 
Storage Rental2,517,208 289,592 63,319 2,870,119 
Service1,477,780 37,306 106,326 1,621,412 
Depreciation and Amortization477,713 148,023 54,686 680,422 
Depreciation320,451 93,679 50,942 465,072 
Amortization157,262 54,344 3,744 215,350 
Adjusted EBITDA1,709,525 137,349 (212,175)1,634,699 
Total Assets(1)
11,101,557 2,911,823 436,651 14,450,031 
Expenditures for Segment Assets369,749 422,274 94,875 886,898 
Capital Expenditures213,395 320,768 76,919 611,082 
Cash Paid for Acquisitions, Net of Cash Acquired97,044 88,998 17,956 203,998 
Acquisitions of Customer Relationships, Customer Inducements and Contract Costs59,310 12,508 — 71,818 
(1)Excludes all intercompany receivables or payables and investment in subsidiary balances.
The accounting policies of the reportable segments are the same as those described in Note 2. Adjusted EBITDA for each segment is defined as net income (loss) before interest expense, net, provision (benefit) for income taxes, depreciation and amortization (inclusive of our share of Adjusted EBITDA from our unconsolidated joint ventures), and excluding certain items we do not believe to be indicative of our core operating results, specifically:
EXCLUDED
•Acquisition and Integration Costs
•Restructuring and other transformation
•(Gain) loss on disposal/write-down of property, plant and equipment, net (including real estate)

•Other expense (income), net
•Stock-based compensation expense


Internally, we use Adjusted EBITDA as the basis for evaluating the performance of, and allocating resources to, our operating segments.
A reconciliation of Net Income (Loss) to Adjusted EBITDA on a consolidated basis for the years ended December 31, 2023, 2022 and 2021 is as follows:
 YEAR ENDED DECEMBER 31,
 202320222021
Net Income (Loss)$187,263 $562,149 $452,725 
Add/(Deduct):
Interest expense, net585,932 488,014 417,961 
Provision (benefit) for income taxes39,943 69,489 176,290 
Depreciation and amortization776,159 727,595 680,422 
Acquisition and Integration Costs25,875 47,746 12,764 
Restructuring and other transformation
175,215 41,933 206,426 
(Gain) loss on disposal/write-down of property, plant and equipment, net (including real estate)(12,825)(93,268)(172,041)
Other expense (income), net, excluding our share of losses (gains) from our unconsolidated joint ventures(1)
98,891 (83,268)(205,746)
Stock-based compensation expense73,799 56,861 61,001 
Our share of Adjusted EBITDA reconciling items from our unconsolidated joint ventures11,425 9,806 4,897 
Adjusted EBITDA$1,961,677 $1,827,057 $1,634,699 
(1)Includes foreign currency transaction losses (gains), net, debt extinguishment expense and other, net.
Information as to our operations in different geographical areas for the years ended December 31, 2023, 2022 and 2021 is as follows:
 YEAR ENDED DECEMBER 31,
 202320222021
Revenues:   
United States$3,507,134 $3,262,755 $2,713,147 
United Kingdom393,917 332,556 294,675 
Canada279,325 270,836 252,385 
Australia143,815 144,840 148,431 
Remaining Countries1,156,098 1,092,587 1,082,893 
Long-lived Assets:  
United States$9,492,911 $8,925,643 $7,867,841 
United Kingdom1,315,715 1,062,641 914,732 
Canada498,511 514,777 562,911 
Australia484,005 490,172 528,703 
Remaining Countries3,947,115 3,600,136 3,134,577 
Information as to our revenues by product and service lines by segment for the years ended December 31, 2023, 2022 and 2021 is as follows:
GLOBAL RIM BUSINESSGLOBAL
 DATA CENTER BUSINESS		CORPORATE 
AND OTHER		TOTAL
CONSOLIDATED
For the Year Ended December 31, 2023   
Records Management(1)
$3,625,264 $— $146,389 $3,771,653 
Data Management(1)
520,194 — — 520,194 
Information Destruction(1)(2)(3)
516,318 — 177,098 693,416 
Data Center(1)
— 495,026 — 495,026 
For the Year Ended December 31, 2022
Records Management(1)
$3,287,237 $— $137,845 $3,425,082 
Data Management(1)
510,107 — 185 510,292 
Information Destruction(1)(2)(3)
497,771 — 269,304 767,075 
Data Center(1)
— 401,125 — 401,125 
For the Year Ended December 31, 2021
Records Management(1)
$3,074,605 $— $125,571 $3,200,176 
Data Management(1)
529,416 — — 529,416 
Information Destruction(1)(2)(3)
390,967 — 44,074 435,041 
Data Center(1)
— 326,898 — 326,898 
(1)Each of these offerings has a component of revenue that is storage rental related and a component that is service related, except for information destruction, which does not have a storage rental component.
(2)Information destruction revenue for our Global RIM Business includes secure shredding services.
(3)Information destruction revenue for Corporate and Other includes product revenue from our ALM business.