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Debt (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Carrying Amount and Fair Value of Long-term Debt Instruments
Long-term debt is as follows:
 DECEMBER 31, 2024DECEMBER 31, 2023
 DEBT (INCLUSIVE OF DISCOUNT)UNAMORTIZED DEFERRED FINANCING COSTSCARRYING AMOUNTFAIR
VALUE		DEBT (INCLUSIVE OF DISCOUNT)UNAMORTIZED DEFERRED FINANCING COSTSCARRYING AMOUNTFAIR
VALUE
Revolving Credit Facility(1)
$121,000 $(9,253)$111,747 $121,000 $— $(4,621)$(4,621)$— 
Term Loan A(1)
216,016 — 216,016 216,016 228,125 — 228,125 228,125 
Term Loan B due 2026(1)(2)
— — — — 659,298 (2,498)656,800 659,750 
Term Loan B due 2031(1)(3)
1,840,181 (14,690)1,825,491 1,850,698 1,191,000 (13,026)1,177,974 1,200,000 
Virginia 3 Term Loans(4)
271,079 (3,013)268,066 271,079 101,218 (4,641)96,577 101,218 
Virginia 4/5 Term Loans(4)
76,535 (2,752)73,783 76,535 16,338 (5,892)10,446 16,338 
Virginia 6 Term Loans(4)
137,495 (4,605)132,890 137,495 — — — — 
Virginia 7 Term Loans(4)
32,074 (7,591)24,483 32,074 — — — — 
Australian Dollar Term Loan(4)(5)
175,813 (265)175,548 176,655 197,743 (482)197,261 199,195 
UK Bilateral Revolving Credit Facility(4)
175,503 (1,034)174,469 175,503 178,239 — 178,239 178,239 
37/8% GBP Senior Notes due 2025 (the "GBP Notes")(6)(7)(8)
501,437 (789)500,648 490,155 509,254 (1,763)507,491 489,108 
47/8% Senior Notes due 2027 (the “47/8% Notes due 2027")(6)(7)(9)
1,000,000 (3,910)996,090 972,500 1,000,000 (5,332)994,668 967,500 
51/4% Senior Notes due 2028 (the “51/4% Notes due 2028")(6)(7)(9)
825,000 (3,838)821,162 804,375 825,000 (5,019)819,981 800,250 
5% Senior Notes due 2028 (the “5% Notes due 2028")(6)(7)(9)
500,000 (2,592)497,408 481,250 500,000 (3,316)496,684 478,750 
7% Senior Notes due 2029 (the "7% Notes due 2029")(6)(7)(9)
1,000,000 (8,686)991,314 1,020,000 1,000,000 (10,813)989,187 1,027,500 
47/8% Senior Notes due 2029 (the “47/8% Notes due 2029")(6)(7)(9)
1,000,000 (6,871)993,129 945,000 1,000,000 (8,318)991,682 945,000 
51/4% Senior Notes due 2030 (the “51/4% Notes due 2030")(6)(7)(9)
1,300,000 (8,399)1,291,601 1,235,000 1,300,000 (9,903)1,290,097 1,241,500 
41/2% Senior Notes due 2031 (the “41/2% Notes")(6)(7)(9)
1,100,000 (7,674)1,092,326 1,001,000 1,100,000 (8,917)1,091,083 995,500 
5% Senior Notes due 2032 (the “5% Notes due 2032")(6)(7)(10)
750,000 (9,900)740,100 688,125 750,000 (11,206)738,794 684,375 
55/8% Senior Notes due 2032 (the “55/8% Notes")(6)(7)(9)
600,000 (4,404)595,596 570,000 600,000 (4,985)595,015 567,000 
61/4% Senior Notes due 2033 (the “61/4% Notes")(6)(7)(9)
1,200,000 (14,517)1,185,483 1,194,000 — — — — 
Real Estate Mortgages, Financing Lease Liabilities and Other(11)
614,231 (1,825)612,406 614,231 519,907 (403)519,504 519,907 
Accounts Receivable Securitization Program(4)(12)
400,000 (670)399,330 400,000 358,500 (317)358,183 358,183 
Total Long-term Debt13,836,364 (117,278)13,719,086 12,034,622 (101,452)11,933,170 
Less Current Portion(715,109)— (715,109)(120,670)— (120,670)
Long-term Debt, Net of Current Portion$13,121,255 $(117,278)$13,003,977 $11,913,952 $(101,452)$11,812,500 
(1)The capital stock or other equity interests of our United States subsidiaries representing the substantial majority of our United States operations, and up to 66% of the capital stock or other equity interests of most of our first-tier foreign subsidiaries, are pledged to secure these debt instruments, together with all intercompany obligations (including promissory notes) of subsidiaries owed to us or to one of our United States subsidiary guarantors. In addition, Iron Mountain Canada Operations ULC has pledged 66% of the capital stock of its subsidiaries, and all intercompany obligations (including promissory notes) owed to or held by it, to secure the Revolving Credit Facility. The fair value (Level 2 and Level 3 of fair value hierarchy described at Note 2.p.) of these debt instruments approximates the carrying value (as borrowings under these debt instruments are based on current variable market interest rates (plus a margin that is subject to change based on our consolidated leverage ratio), as of December 31, 2024 and 2023 (collectively, the "Credit Agreement Collateral").
(2)The amount of debt for the Term Loan B due 2026 (as defined below) reflects an unamortized original issue discount of $452 as of December 31, 2023.
(3)The amount of debt for the Term Loan B due 2031 (as defined below) reflects an unamortized original issue discount of $10,517 and $9,000 as of December 31, 2024 and 2023, respectively.
(4)The fair value (Level 2 of fair value hierarchy described at Note 2.p.) of this debt instrument approximates the carrying value as borrowings under this debt instrument are based on a current variable market interest rate.
(5)The amount of debt for the AUD Term Loan (as defined below) reflects an unamortized original issue discount of $842 and $1,452 as of December 31, 2024 and 2023, respectively.
(6)The fair values (Level 2 of fair value hierarchy described at Note 2.p.) of these debt instruments are based on quoted market prices for comparable notes on December 31, 2024 and 2023, respectively.
(7)Collectively, the "Unregistered Notes". The Unregistered Notes have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or under the securities laws of any other jurisdiction. Unless they are registered, the Unregistered Notes may be offered only in transactions that are exempt from registration under the Securities Act or the securities laws of any other jurisdiction.
(8)Iron Mountain (UK) PLC ("IM UK") is the direct obligor on the GBP Notes, which are fully and unconditionally guaranteed, on a senior basis, by IMI and IMI’s United States subsidiaries that represent the substantial majority of our United States operations (the "Note Guarantors"). These guarantees are joint and several obligations of IMI and the Note Guarantors. The remainder of our subsidiaries do not guarantee the GBP Notes. The full amount of the GBP Notes is classified within the current portion of long-term debt in our Consolidated Balance Sheet at December 31, 2024.
(9)Collectively, the "Parent Notes". IMI is the direct obligor on the Parent Notes, which are fully and unconditionally guaranteed, on a senior basis, by the Note Guarantors. These guarantees are joint and several obligations of the Note Guarantors. The remainder of our subsidiaries do not guarantee the Parent Notes.
(10)Iron Mountain Information Management Services, Inc. ("IMIM Services") is the direct obligor on the 5% Notes due 2032, which are fully and unconditionally guaranteed, on a senior basis, by IMI and the Note Guarantors. These guarantees are joint and several obligations of IMI and the Note Guarantors. The remainder of our subsidiaries do not guarantee the 5% Notes due 2032.
(11)We believe the fair value (Level 2 of fair value hierarchy described at Note 2.p.) of this debt approximates its carrying value as these borrowings are based on current market interest rates. This debt includes the following:
 DECEMBER 31, 2024DECEMBER 31, 2023
Real estate mortgages(1)
$74,250 $57,753 
Financing lease liabilities(2)
406,841 349,865 
Other notes and other obligations(3)
133,140 112,289 
 $614,231 $519,907 
(1)Bear interest at approximately 4.4% and 3.6% at December 31, 2024 and 2023, respectively, and includes $50,000 outstanding under our Mortgage Securitization Program at both December 31, 2024 and 2023.
(2)Bear a weighted average interest rate of 5.2% and 6.1% at December 31, 2024 and 2023, respectively.
(3)These notes and other obligations, which were assumed by us as a result of certain acquisitions, bear a weighted average interest rate of 7.2% and 8.5% at December 31, 2024 and 2023, respectively.
(12) The Accounts Receivable Securitization Special Purpose Subsidiaries (as defined below) are the obligors under this program.
These agreements primarily consist of term loan facilities with the following terms:
AGREEMENTMAXIMUM BORROWING
AMOUNT
OUTSTANDING BORROWINGS AS OF DECEMBER 31, 2024
DIRECT
OBLIGOR		CONTRACTUAL INTEREST RATEUNUSED COMMITMENT FEE
MATURITY DATE(1)
Virginia 4/5(2)
$204,987 $76,535 Iron Mountain Data Centers Virginia 4/5 Subsidiary, LLC
SOFR plus a credit spread adjustment of 0.1% plus 1.625%
0.49 %October 31, 2025
Virginia 3(3)
275,000 271,079 Iron Mountain Data Centers Virginia 3, LLC
SOFR plus 2.50%
0.75 %August 31, 2026
Virginia 7 Term Loans(4)
300,000 32,074 Iron Mountain Data Centers Virginia 7, LLC
SOFR plus 2.50%
0.75 %April 12, 2027
Virginia 6 Term Loans(5)
210,000 137,495 Iron Mountain Data Centers Virginia 6, LLC
SOFR plus 2.75%
0.75 %May 3, 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)Iron Mountain Data Centers Virginia 4/5 Subsidiary, LLC, a wholly-owned subsidiary of Iron Mountain Data Centers Virginia 4/5 JV, LP, has a credit agreement that includes a term loan facility (the "Virginia 4/5 Term Loans") and a letter of credit facility (collectively, the "Virginia 4/5 Credit Agreement"). The Virginia 4/5 Credit Agreement is secured by the equity interests and assets of Iron Mountain Data Centers Virginia 4/5 Subsidiary, LLC. As of December 31, 2024 and 2023, the Virginia 4/5 Term Loans have a weighted average interest rate of 5.1% and 6.1%, respectively.
(3)Iron Mountain Data Centers Virginia 3, LLC, a wholly-owned subsidiary of IMI, has a credit agreement that includes a term loan facility (the "Virginia 3 Term Loans") and a letter of credit facility (collectively, the "Virginia 3 Credit Agreement"). The Virginia 3 Credit Agreement is secured by the equity interests and assets of Iron Mountain Data Centers Virginia 3, LLC. As of December 31, 2024 and 2023, the Virginia 3 Term Loans have a weighted average interest rate of 6.7% and 6.2%, respectively.
(4)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 (the "Virginia 7 Term Loans") 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. As of December 31, 2024, the interest rate in effect under the Virginia 7 Credit Agreement was 7.0%.
(5)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 December 31, 2024, the interest rate in effect under the Virginia 6 Credit Agreement was 7.1%.
On December 6, 2024, IMI completed a private offering of:
SERIES OF NOTESAGGREGATE PRINCIPAL AMOUNT
61/4% Notes
$1,200,000 
Schedule of Redemption Dates and Prices of the Senior or Senior Subordinated Notes
The key terms of our indentures are as follows:
SENIOR NOTESAGGREGATE
PRINCIPAL
AMOUNT		DIRECT
OBLIGOR		MATURITY DATECONTRACTUAL INTEREST RATEINTEREST PAYMENTS DUE
PAR CALL DATE(1)
GBP Notes£400,000  
IM UK
November 15, 2025
37/8%
May 15 and November 15November 15, 2022
47/8% Notes due 2027
$1,000,000 
IMI
September 15, 2027
47/8%
March 15 and September 15September 15, 2025
51/4% Notes due 2028
$825,000 
IMI
March 15, 2028
51/4%
March 15 and September 15March 15, 2025
5% Notes due 2028$500,000 
IMI
July 15, 2028
5%
January 15 and July 15July 15, 2025
7% Notes due 2029$1,000,000 
IMI
February 15, 20297%February 15 and August 15August 15, 2025
47/8% Notes due 2029
$1,000,000 
IMI
September 15, 2029
47/8%
March 15 and September 15September 15, 2027
51/4% Notes due 2030
$1,300,000 
IMI
July 15, 2030
51/4%
January 15 and July 15July 15, 2028
41/2% Notes
$1,100,000 
IMI
February 15, 2031
41/2%
February 15 and August 15February 15, 2029
5% Notes due 2032$750,000 IMIM ServicesJuly 15, 20325%May 15 and November 15July 15, 2027
55/8% Notes
$600,000 
IMI
July 15, 2032
55/8%
January 15 and July 15July 15, 2029
61/4% Notes
$1,200,000 IMIJanuary 15, 2033
61/4%
January 15 and July 15December 6, 2029
(1)We may redeem the notes at any time, at our option, in whole or in part. Prior to the par call date, we may redeem the notes at the redemption price or make-whole premium specified in the applicable indenture, together with accrued and unpaid interest to, but excluding, the redemption date. On or after the par call date, we may redeem the notes at a price equal to 100% of the principal amount being redeemed, together with accrued and unpaid interest to, but excluding, the redemption date.
Schedule of Maturities of Long-term Debt MATURITIES OF LONG-TERM DEBT (GROSS OF DISCOUNTS) ARE AS FOLLOWS:
YEARAMOUNT
2025$715,109 
2026847,189 
20271,653,222 
20281,429,616 
20292,078,681 
Thereafter7,123,905 
13,847,722 
Net Discounts(11,358)
Net Deferred Financing Costs (117,278)
Total Long-term Debt (including current portion)$13,719,086