v3.26.1
Debt (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Carrying Amount and Fair Value of Long-Term Debt Instruments
Long-term debt is as follows:
JUNE 30, 2026DECEMBER 31, 2025
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)
$30,000 $(7,241)$22,759 $30,000 $751,500 $(8,207)$743,293 $751,500 
Term Loan A(1)
475,000 — 475,000 475,000 487,500 — 487,500 487,500 
Term Loan B(1)
2,011,653 (11,426)2,000,227 2,021,130 2,020,957 (12,465)2,008,492 2,031,495 
Virginia 3 Term Loans due 2026
— — — — 271,079 (1,189)269,890 271,079 
Virginia 6 Term Loans(2)
210,000 (1,645)208,355 210,000 210,000 (2,633)207,367 210,000 
Virginia 7 Term Loans(2)
293,455 (2,719)290,736 293,455 275,314 (4,351)270,963 275,314 
Virginia 9 Term Loans(3)
29,595 (7,038)22,557 29,595 — — — — 
Virginia 4/5 Term Loans due 2030(2)
208,224 (3,167)205,057 208,224 208,224 (3,529)204,695 208,224 
Virginia 3 Term Loans due 2031(3)
433,000 (8,137)424,863 433,000 — — — — 
Australian Dollar Term Loan(2)
267,257 (1,814)265,443 268,877 262,192 (1,965)260,227 263,948 
UK Revolving Credit Facility(2)
185,405 (1,405)184,000 185,405 188,385 (2,002)186,383 188,385 
47/8% Notes due 2027(2)(4)
1,000,000 (1,777)998,223 998,750 1,000,000 (2,488)997,512 995,000 
51/4% Notes due 2028(2)(4)
825,000 (2,067)822,933 822,938 825,000 (2,657)822,343 823,969 
5% Notes due 2028(2)(4)
500,000 (1,507)498,493 496,250 500,000 (1,869)498,131 497,500 
7% Notes(2)(4)
1,000,000 (5,495)994,505 1,016,250 1,000,000 (6,559)993,441 1,025,000 
47/8% Notes due 2029(2)(4)
1,000,000 (4,701)995,299 976,250 1,000,000 (5,425)994,575 983,750 
51/4% Notes due 2030(2)(4)
1,300,000 (6,142)1,293,858 1,275,625 1,300,000 (6,894)1,293,106 1,280,500 
41/2% Notes(2)(4)
1,100,000 (5,809)1,094,191 1,047,750 1,100,000 (6,430)1,093,570 1,042,250 
5% Notes due 2032(2)
750,000 (7,942)742,058 718,125 750,000 (8,595)741,405 710,625 
55/8% Notes(2)(4)
600,000 (3,533)596,467 591,750 600,000 (3,823)596,177 586,500 
61/4% Notes(2)(4)
1,200,000 (11,852)1,188,148 1,210,500 1,200,000 (12,752)1,187,248 1,206,000 
Euro Notes(2)(4)
1,368,929 (15,728)1,353,201 1,358,662 1,408,825 (16,765)1,392,060 1,370,082 
61/4% Senior Notes due 2035 (the "61/4% Notes due 2035")(4)(5)
1,500,000 (18,220)1,481,780 1,503,750 — — — — 
Real Estate Mortgages, Financing Lease Liabilities and Other794,087 (1,277)792,810 794,087 785,497 (1,512)783,985 785,497 
Accounts Receivable Securitization Program400,500 (1,814)398,686 400,500 400,000 (404)399,596 400,000 
Total Long-term Debt17,482,105 (132,456)17,349,649 16,544,473 (112,514)16,431,959 
Less Current Portion(220,809)— (220,809)(216,074)— (216,074)
Long-term Debt, Net of Current Portion$17,261,296 $(132,456)$17,128,840 $16,328,399 $(112,514)$16,215,885 
(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"). The remaining amount available for borrowing under the Revolving Credit Facility as of June 30, 2026 was $2,707,574 (which represents the maximum availability as of such date). The weighted average interest rate in effect under the Revolving Credit Facility was 5.4% as of June 30, 2026.
(2)Each as defined in Note 6 to Notes to Consolidated Financial Statements included in our Annual Report.
(3)We believe the fair value (Level 2 of the fair value hierarchy described in Note 2.p. to Notes to Consolidated Financial Statements included in our Annual Report) of this debt instrument approximates its carrying value as these borrowings are based on current market interest rates.
(4)Collectively, the "Parent Notes". Iron Mountain Incorporated ("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.
(5)The fair value (Level 2 of the fair value hierarchy described in Note 2.p. to Notes to Consolidated Financial Statements included in our Annual Report) of this debt instrument is based on a quoted market price for comparable notes on June 30, 2026.
Schedule of Debt Instrument Redemption
On June 26, 2026, IMI completed a private offering of:
SERIES OF NOTESAGGREGATE PRINCIPAL AMOUNTMATURITY DATEINTEREST PAYMENT DUE
PAR CALL DATE(1)
61/4% Notes due 2035
$1,500,000 January 15, 2035January 15 and July 15July 15, 2031
(1)We may redeem the 61/4% Notes due 2035 at any time, at our option, in whole or in part. Prior to the par call date, we may redeem the 61/4% Notes due 2035 at the redemption price or make-whole premium specified in the indenture governing the 61/4% Notes due 2035, together with accrued and unpaid interest to, but excluding, the redemption date. On or after the par call date, we may redeem the 61/4% Notes due 2035 at a price equal to 100% of the principal amount being redeemed, together with accrued and unpaid interest to, but excluding, the redemption date.