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Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2024
Accounting Policies [Abstract]  
Schedule of Allowance for Credit Loss The rollforward of the allowance for doubtful accounts and credit memo reserves for the nine months ended September 30, 2024 is as follows:
Balance as of December 31, 2023
$74,762 
Credit memos charged to revenue73,762 
Allowance for bad debts charged to expense37,668 
Deductions and other(1)
(102,002)
Balance as of September 30, 2024
$84,190 
(1)Primarily consists of the issuance of credit memos, the write-off of accounts receivable and the impact associated with currency translation adjustments.
Schedule of Operating and Financing Lease Right-of-Use Assets and Lease Liabilities
Operating and financing lease right-of-use assets and lease liabilities as of September 30, 2024 and December 31, 2023 are as follows:
DESCRIPTIONSEPTEMBER 30, 2024DECEMBER 31, 2023
Assets:
Operating lease right-of-use assets$2,591,238 $2,696,024 
Financing lease right-of-use assets, net of accumulated depreciation(1)
367,500 304,600 
Liabilities:
Current
Operating lease liabilities$315,093 $291,795 
Financing lease liabilities(1)
50,455 39,089 
Long-term
Operating lease liabilities$2,438,905 $2,562,394 
Financing lease liabilities(1)
363,155 310,776 
(1)Financing lease right-of-use assets, current financing lease liabilities and long-term financing lease liabilities are included within Property, plant and equipment, net, Current portion of long-term debt and Long-term debt, net of current portion, respectively, within our Condensed Consolidated Balance Sheets.
Schedule of Lease Costs and Other Information
The components of the lease expense for the three and nine months ended September 30, 2024 and 2023 are as follows:
THREE MONTHS ENDED SEPTEMBER 30,NINE MONTHS ENDED SEPTEMBER 30,
DESCRIPTION2024202320242023
Operating lease cost(1)
$168,308 $172,040 $512,789 $489,153 
Financing lease cost:
Depreciation of financing lease right-of-use assets$13,907 $11,004 $36,929 $31,214 
Interest expense for financing lease liabilities5,593 4,843 16,031 13,600 
(1)Operating lease cost, the majority of which is included in Cost of sales, includes variable lease costs of $42,785 and $120,473 for the three and nine months ended September 30, 2024, respectively, and $34,866 and $100,864 for the three and nine months ended September 30, 2023, respectively.
Supplemental cash flow information relating to our leases for the nine months ended September 30, 2024 and 2023 is as follows:
NINE MONTHS ENDED SEPTEMBER 30,
CASH PAID FOR AMOUNTS INCLUDED IN MEASUREMENT OF LEASE LIABILITIES:20242023
Operating cash flows used in operating leases$355,509 $334,806 
Operating cash flows used in financing leases (interest)16,031 13,600 
Financing cash flows used in financing leases41,079 35,124 
NON-CASH ITEMS:
Operating lease modifications and reassessments$9,536 $65,874 
New operating leases (including acquisitions and sale-leaseback transactions)97,708 234,194 
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 segment and Corporate and Other (as defined in Note 9) for the nine months ended September 30, 2024 are as follows:
GLOBAL RIM BUSINESSGLOBAL DATA CENTER BUSINESSCORPORATE AND OTHERTOTAL CONSOLIDATED
Goodwill balance, net of accumulated amortization, as of December 31, 2023
$3,911,945 $478,930 $627,037 $5,017,912 
Tax deductible goodwill acquired during the period— — 131,790 131,790 
Non-tax deductible goodwill acquired during the period— — 36,499 36,499 
Fair value and other adjustments984 (186)(186)612 
Currency effects9,686 1,062 899 11,647 
Goodwill balance, net of accumulated amortization, as of September 30, 2024
$3,922,615 $479,806 $796,039 $5,198,460 
Accumulated goodwill impairment balance as of September 30, 2024
$132,409 $— $26,011 $158,420 
Schedule of 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 September 30, 2024 and December 31, 2023 are as follows:
  
FAIR VALUE MEASUREMENTS AT SEPTEMBER 30, 2024 USING
DESCRIPTION
TOTAL CARRYING
VALUE AT
SEPTEMBER 30, 2024
QUOTED PRICES IN
ACTIVE MARKETS
(LEVEL 1)		SIGNIFICANT OTHER
OBSERVABLE INPUTS
(LEVEL 2)
SIGNIFICANT
UNOBSERVABLE
INPUTS (LEVEL 3)(2)
Money Market Funds$17,581 $— $17,581 $— 
Time Deposits30,462 — 30,462 — 
Trading Securities8,013 6,283 1,730 — 
Derivative Liabilities29,824 — 29,824 — 
Deferred Purchase Obligations(1)
117,050 — — 117,050 
  FAIR VALUE MEASUREMENTS AT DECEMBER 31, 2023 USING
DESCRIPTION
TOTAL CARRYING
VALUE AT
DECEMBER 31, 2023
QUOTED PRICES IN
ACTIVE MARKETS
(LEVEL 1)		SIGNIFICANT OTHER
OBSERVABLE INPUTS
(LEVEL 2)
SIGNIFICANT
UNOBSERVABLE
INPUTS (LEVEL 3)(2)
Money Market Funds$66,008 $— $66,008 $— 
Time Deposits15,913 — 15,913 — 
Trading Securities9,952 6,149 3,803 — 
Derivative Assets6,359 — 6,359 — 
Derivative Liabilities5,769 — 5,769 — 
Deferred Purchase Obligations(1)
208,265 — — 208,265 
(1)Primarily relates to the fair values of the deferred purchase obligations associated with the ITRenew Transaction (as defined in Note 3 to Notes to Consolidated Financial Statements included in our Annual Report) and the Regency Transaction (as defined in Note 3).
(2)The following is a rollforward of the Level 3 liabilities presented above for December 31, 2023 through September 30, 2024:
Balance as of December 31, 2023
$208,265 
Additions63,700 
Payments(158,677)
Other changes, including accretion3,762 
Balance as of September 30, 2024
$117,050 
Schedule of Changes in Accumulated Other Comprehensive Items, Net
The changes in Accumulated other comprehensive items, net for the three and nine months ended September 30, 2024 and 2023 are as follows:
THREE MONTHS ENDED SEPTEMBER 30, 2024
THREE MONTHS ENDED SEPTEMBER 30, 2023
 FOREIGN
CURRENCY
TRANSLATION AND OTHER
ADJUSTMENTS		DERIVATIVE FINANCIAL
INSTRUMENTS		TOTALFOREIGN
CURRENCY
TRANSLATION AND OTHER
ADJUSTMENTS		DERIVATIVE FINANCIAL
INSTRUMENTS		TOTAL
Beginning of Period$(471,935)$10,844 $(461,091)$(396,677)$14,433 $(382,244)
Other comprehensive income (loss):
Foreign currency translation and other adjustments106,861 — 106,861 (79,416)— (79,416)
Change in fair value of derivative instruments— (34,281)(34,281)— 6,184 6,184 
Reclassifications from accumulated other comprehensive items, net— — — — (2,527)(2,527)
Total other comprehensive income (loss)106,861 (34,281)72,580 (79,416)3,657 (75,759)
End of Period$(365,074)$(23,437)$(388,511)$(476,093)$18,090 $(458,003)
NINE MONTHS ENDED SEPTEMBER 30, 2024
NINE MONTHS ENDED SEPTEMBER 30, 2023
 FOREIGN
CURRENCY
TRANSLATION AND OTHER
ADJUSTMENTS		DERIVATIVE FINANCIAL
INSTRUMENTS		TOTALFOREIGN
CURRENCY
TRANSLATION AND OTHER
ADJUSTMENTS		DERIVATIVE FINANCIAL
INSTRUMENTS		TOTAL
Beginning of Period$(373,628)$2,472 $(371,156)$(454,509)$12,506 $(442,003)
Other comprehensive income (loss):
Foreign currency translation and other adjustments8,554 — 8,554 (21,584)— (21,584)
Change in fair value of derivative instruments— (23,381)(23,381)— 10,638 10,638 
Reclassifications from accumulated other comprehensive items, net— (2,528)(2,528)— (5,054)(5,054)
Total other comprehensive income (loss)8,554 (25,909)(17,355)(21,584)5,584 (16,000)
End of Period$(365,074)$(23,437)$(388,511)$(476,093)$18,090 $(458,003)
Schedule of Cost and Accumulated Amortization Associated with Contract Fulfillment Costs Contract Costs as of September 30, 2024 and December 31, 2023 are as follows:
SEPTEMBER 30, 2024DECEMBER 31, 2023
GROSS
CARRYING
AMOUNT		ACCUMULATED
AMORTIZATION		NET
CARRYING
AMOUNT		GROSS
CARRYING
AMOUNT		ACCUMULATED
AMORTIZATION		NET
CARRYING
AMOUNT
Intake Costs asset$84,021 $(40,865)$43,156 $76,150 $(39,617)$36,533 
Commissions asset190,432 (72,480)117,952 156,639 (64,279)92,360 
Schedule of Deferred Revenue Liabilities
Deferred revenue liabilities are reflected in our Condensed Consolidated Balance Sheets as follows:
DESCRIPTIONLOCATION IN BALANCE SHEETSEPTEMBER 30, 2024DECEMBER 31, 2023
Deferred revenue - CurrentDeferred revenue$294,545 $325,665 
Deferred revenue - Long-termOther Long-term Liabilities85,795 100,770 
Schedule of Revenue Storage rental revenue associated with our Global Data Center Business for the three and nine months ended September 30, 2024 and 2023 is as follows:
THREE MONTHS ENDED SEPTEMBER 30,NINE MONTHS ENDED SEPTEMBER 30,
2024202320242023
Storage rental revenue$150,796 $123,655 $438,221 $342,080 
Schedule of Stock-based Compensation Expense
Stock-based compensation expense for the Employee Stock-Based Awards for the three and nine months ended September 30, 2024 and 2023 is as follows:
THREE MONTHS ENDED SEPTEMBER 30,NINE MONTHS ENDED SEPTEMBER 30,
2024202320242023
Stock-based compensation expense$29,563 $18,313 $73,491 $53,195 
Schedule of Acquisition and Integration Costs
Acquisition and Integration Costs for the three and nine months ended September 30, 2024 and 2023 are as follows:
THREE MONTHS ENDED SEPTEMBER 30,NINE MONTHS ENDED SEPTEMBER 30,
2024202320242023
Acquisition and Integration Costs$11,262 $9,909 $28,573 $13,015 
Schedule of (Loss) Gain on Disposal/Write-Down of Property, Plant and Equipment, Net
Loss (gain) on disposal/write-down of property, plant and equipment, net for the three and nine months ended September 30, 2024 and 2023 is as follows:
THREE MONTHS ENDED SEPTEMBER 30,NINE MONTHS ENDED SEPTEMBER 30,
202420232024
2023(1)
Loss (gain) on disposal/write-down of property, plant and equipment, net
$5,091 $(4,416)$8,270 $(18,982)
(1)    The gains for the nine months ended September 30, 2023 primarily consist of a gain of approximately $18,500 associated with a sale-leaseback transaction of a facility in Singapore during the first quarter 2023. The gains recognized during 2023 are the result of our program to monetize a small portion of our industrial assets through sale and sale-leaseback transactions. The terms for these leases are consistent with the terms of our lease portfolio, which are disclosed in detail in Note 2.j. to Notes to Consolidated Financial Statements included in our Annual Report.
Schedule of Other Expense (Income), Net
Other expense (income), net for the three and nine months ended September 30, 2024 and 2023 consists of the following:
 THREE MONTHS ENDED SEPTEMBER 30,NINE MONTHS ENDED SEPTEMBER 30,
DESCRIPTION2024202320242023
Foreign currency transaction losses (gains), net(1)(2)
$46,657 $(29,310)$31,291 $177 
Debt extinguishment expense5,417 — 5,417 — 
Other, net(3)(4)
34,288 13,039 42,957 67,702 
Other Expense (Income), Net
$86,362 $(16,271)$79,665 $67,879 
(1)The losses for the three and nine months ended September 30, 2024 primarily consist of the impact of changes in the exchange rate of the British pound sterling and the Euro against the United States dollar on our intercompany balances with and between certain of our subsidiaries.
(2)The gains for the three months ended September 30, 2023 primarily consist of the impact of changes in the exchange rate of the British pound sterling against the United States dollar on our intercompany balances with and between certain of our subsidiaries.
(3)Other, net for the three and nine months ended September 30, 2024 primarily consists of approximately $29,200 in charges associated with the agreement to purchase the remaining interest in the Web Werks JV (as defined and discussed in Note 3) as well as losses on our equity method investments and the change in value of our deferred purchase obligations.
(4)Other, net for the nine months ended September 30, 2023 primarily consists of a loss of approximately $38,000 associated with the remeasurement to fair value of our previously held equity interest in the Clutter JV (as defined and discussed in Note 10) as well as losses on our equity method investments and the change in value of our deferred purchase obligations.
Schedule of Income Taxes Our effective tax rates for the three and nine months ended September 30, 2024 and 2023 are as follows:
 THREE MONTHS ENDED SEPTEMBER 30,NINE MONTHS ENDED SEPTEMBER 30,
2024(1)
2023(2)
2024(1)
2023(2)
Effective Tax Rate58.3 %9.8 %35.2 %16.4 %
(1)The primary reconciling items between the federal statutory tax rate of 21.0% and our overall effective tax rate for the three and nine months ended September 30, 2024 were the lack of tax benefits recognized for the year to date ordinary losses of certain entities, the benefits derived from the dividends paid deduction and the differences in the tax rates to which our foreign earnings are subject. In addition, we recorded gains and losses in Other expense (income), net during the period, for which there was no tax impact.
(2)The primary reconciling items between the federal statutory tax rate of 21.0% and our overall effective tax rate for the three and nine months ended September 30, 2023 were the benefits derived from the dividends paid deduction and the differences in the tax rates to which our foreign earnings are subject. In addition, we recorded gains and losses in Other expense (income), net during the period, for which there was no tax impact.
Schedule of Basic and Diluted Net Income (Loss) Per Share Attributable to the Entity
The calculations of basic and diluted income (loss) per share for the three and nine months ended September 30, 2024 and 2023 are as follows:
 THREE MONTHS ENDED SEPTEMBER 30,NINE MONTHS ENDED SEPTEMBER 30,
 2024202320242023
Net (Loss) Income$(33,665)$91,391 $77,981 $158,069 
Less: Net (Loss) Income Attributable to Noncontrolling Interests(45)348 1,757 2,317 
Net (Loss) Income Attributable to Iron Mountain Incorporated (utilized in numerator of Earnings Per Share calculation)$(33,620)$91,043 $76,224 $155,752 
Weighted-average shares—basic293,603,000 292,148,000 293,229,000 291,805,000 
Effect of dilutive potential stock options— 1,592,000 2,143,000 1,376,000 
Effect of dilutive potential RSUs and PUs— 529,000 540,000 434,000 
Weighted-average shares—diluted293,603,000 294,269,000 295,912,000 293,615,000 
Net (Loss) Income Per Share Attributable to Iron Mountain Incorporated:  
 Basic$(0.11)$0.31 $0.26 $0.53 
 Diluted$(0.11)$0.31 $0.26 $0.53 
Antidilutive stock options, RSUs and PUs excluded from the calculation3,083,222 16,820 293,457 106,561