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Debt (Tables)
 9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
Schedule of Carrying Amount and Fair Value of Long-Term Debt Instruments
Long-term debt is as follows:
 SEPTEMBER 30, 2024DECEMBER 31, 2023
 
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)
$1,005,000 $(3,763)$1,001,237 $1,005,000 $— $(4,621)$(4,621)$— 
Term Loan A(1)
218,750 — 218,750 218,750 228,125 — 228,125 228,125 
Term Loan B due 2026(1)
— — — — 659,298 (2,498)656,800 659,750 
Term Loan B due 2031(1)
1,849,096 (15,462)1,833,634 1,860,045 1,191,000 (13,026)1,177,974 1,200,000 
Virginia 3 Term Loans(2)
246,188 (3,336)242,852 246,188 101,218 (4,641)96,577 101,218 
Virginia 4/5 Term Loans(2)
70,280 (3,483)66,797 70,280 16,338 (5,892)10,446 16,338 
Virginia 6 Term Loans(3)
95,062 (5,106)89,956 95,062 — — — — 
Australian Dollar Term Loan(2)
197,427 (336)197,091 198,501 197,743 (482)197,261 199,195 
UK Bilateral Revolving Credit Facility(2)
187,431 (1,168)186,263 187,431 178,239 — 178,239 178,239 
GBP Notes(2)
535,518 (1,095)534,423 527,239 509,254 (1,763)507,491 489,108 
47/8% Notes due 2027(2)
1,000,000 (4,266)995,734 987,500 1,000,000 (5,332)994,668 967,500 
51/4% Notes due 2028(2)
825,000 (4,133)820,867 818,813 825,000 (5,019)819,981 800,250 
5% Notes due 2028(2)
500,000 (2,773)497,227 491,250 500,000 (3,316)496,684 478,750 
7% Notes due 2029(2)
1,000,000 (9,218)990,782 1,037,500 1,000,000 (10,813)989,187 1,027,500 
47/8% Notes due 2029(2)
1,000,000 (7,233)992,767 975,000 1,000,000 (8,318)991,682 945,000 
51/4% Notes due 2030(2)
1,300,000 (8,775)1,291,225 1,280,500 1,300,000 (9,903)1,290,097 1,241,500 
41/2% Notes(2)
1,100,000 (7,985)1,092,015 1,039,500 1,100,000 (8,917)1,091,083 995,500 
5% Notes due 2032(2)
750,000 (10,227)739,773 721,875 750,000 (11,206)738,794 684,375 
55/8% Notes(2)
600,000 (4,549)595,451 595,500  600,000 (4,985)595,015 567,000 
Real Estate Mortgages, Financing Lease Liabilities and Other611,321 (1,922)609,399 611,321 519,907 (403)519,504 519,907 
Accounts Receivable Securitization Program386,500 (734)385,766 386,500 358,500 (317)358,183 358,183 
Total Long-term Debt13,477,573 (95,564)13,382,009  12,034,622 (101,452)11,933,170 
Less Current Portion(136,547)— (136,547) (120,670)— (120,670) 
Long-term Debt, Net of Current Portion$13,341,026 $(95,564)$13,245,462  $11,913,952 $(101,452)$11,812,500  
(1)Collectively, the “Credit Agreement”. The Credit Agreement consists of a revolving credit facility (the “Revolving Credit Facility”), a term loan A facility (the “Term Loan A”) and a term loan B facility (the "Term Loan B due 2031"). The Credit Agreement also included a second term loan B facility (the "Term Loan B due 2026") until its extinguishment in August 2024. The remaining amount available for borrowing under the Revolving Credit Facility as of September 30, 2024 was $1,237,020 (which represents the maximum availability as of such date). The weighted average interest rate in effect under the Revolving Credit Facility was 7.0% as of September 30, 2024. Due to the discontinuance of the Canadian Dollar Offered Rate reference rate on June 28, 2024, the Credit Agreement was amended on June 7, 2024 to update the interest rate benchmark available for Canadian currency borrowings under our Revolving Credit Facility to the Canadian Overnight Repo Rate Average, effective July 1, 2024. All other material terms of the Revolving Credit Facility remain the same as disclosed in Note 7 to Notes to Consolidated Financial Statements included in our Annual Report.
(2)Each as defined in Note 7 to Notes to Consolidated Financial Statements included in our Annual Report.
(3)The fair value (Level 2 of the fair value hierarchy described at Note 2.e.) of this debt instrument approximates the carrying value as borrowings under this debt instrument are based on a current variable market interest rate.
These agreements primarily consist of the following term loan facilities:
AGREEMENTMAXIMUM BORROWING
AMOUNT
OUTSTANDING BORROWINGS AS OF SEPTEMBER 30, 2024
DIRECT
OBLIGOR		CONTRACTUAL INTEREST RATEUNUSED COMMITMENT FEE
MATURITY DATE(1)
Virginia 6 Term Loans(2)
$210,000 $95,062 Iron Mountain Data Centers Virginia 6, LLCSOFR plus 2.75%0.75%May 3, 2027
Virginia 7 Term Loans(3)
300,000 — Iron Mountain Data Centers Virginia 7, LLCSOFR plus 2.50%0.75%April 12, 2027
(1)All obligations will become due on the specified maturity dates. Each agreement includes two one-year options that allow us to extend the initial maturity date, subject to the conditions specified in the agreements.
(2)On May 3, 2024, Iron Mountain Data Centers Virginia 6, LLC, a wholly-owned subsidiary of Iron Mountain Data Centers Virginia 6/7 JV, LLC, entered into a credit agreement (the "Virginia 6 Credit Agreement"). The Virginia 6 Credit Agreement consists of a term loan facility (the "Virginia 6 Term Loans") and a letter of credit facility. The Virginia 6 Credit Agreement is secured by the equity interests and assets of Iron Mountain Data Centers Virginia 6, LLC. As of September 30, 2024, the interest rate in effect under the Virginia 6 Credit Agreement was 4.9%.
(3)On April 12, 2024, Iron Mountain Data Centers Virginia 7, LLC, a wholly-owned subsidiary of Iron Mountain Data Centers Virginia 6/7 JV, LLC, entered into a credit agreement (the "Virginia 7 Credit Agreement"). The Virginia 7 Credit Agreement consists of a term loan facility and a letter of credit facility. The Virginia 7 Credit Agreement is secured by the equity interests and assets of Iron Mountain Data Centers Virginia 7, LLC.