For the year ending 2025-12-31, IRM had $2,819K increase in cash & cash equivalents over the period. -$931,629K in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income (loss) | 152,254 | 183,666 | 187,263 | 562,149 |
| Depreciation | 730,885 | 629,296 | 525,850 | 478,984 |
| Amortization (includes amortization of deferred financing costs and discounts of 32,769, 25,580 and 16,859 in 2025, 2024 and 2023, respectively) | 326,319 | 297,189 | 267,168 | 266,655 |
| Intangible impairments | - | - | - | 0 |
| Revenue reduction associated with amortization of customer inducements and data center above- and below-market leases | 6,151 | 5,347 | 7,036 | 8,119 |
| Stock-based compensation expense | 140,280 | 118,138 | 73,799 | 56,861 |
| (benefit) provision for deferred income taxes | -47,682 | -41,415 | -35,264 | -55,920 |
| Loss on early extinguishment of debt | - | - | - | -671 |
| Loss (gain) on disposal/write-down of property, plant and equipment, net | -24,641 | -6,196 | 12,825 | 93,268 |
| Loss on deconsolidation | - | 0 | 0 | -105,825 |
| Loss (gain) associated with the remeasurement of deferred purchase obligations | -19,680 | -29,498 | 0 | 93,600 |
| Gain associated with clutter transaction | - | - | - | 35,821 |
| Loss (gain) associated with the remeasurement to fair value of our previously held equity interest | 0 | 0 | -38,000 | - |
| Foreign currency transactions and other, net | 48,018 | 41,191 | 103,134 | 20,524 |
| (increase) decrease in assets | 262,668 | 78,282 | 70,287 | 224,641 |
| Increase (decrease) in liabilities | 202,121 | 5,884 | 29,693 | -27,795 |
| Cash flows from operating activities | 1,339,999 | 1,196,708 | 1,113,567 | 927,695 |
| Capital expenditures | 2,271,628 | 1,791,564 | 1,339,223 | 875,378 |
| Cash paid for acquisitions, net of cash acquired | 101,625 | 178,414 | 41,849 | 803,690 |
| Acquisition of customer intangibles | 75,487 | 62,386 | 0 | 2,143 |
| Customer inducements | - | - | 5,874 | 6,062 |
| Contract costs | -95,924 | -112,542 | -95,124 | -70,336 |
| Net proceeds from ipm divestment | - | - | 0 | 0 |
| Investments in joint ventures and other investments, net | 43,177 | 9,834 | 15,830 | 73,233 |
| Proceeds from sales of property and equipment and other, net | 13,635 | 17,979 | 53,544 | 170,419 |
| Cash flows from investing activities | -2,574,206 | -2,136,761 | -1,444,356 | -1,660,423 |
| Repayment of revolving credit facility, term loan facilities and other debt | 16,003,355 | 14,473,019 | 18,191,921 | 11,593,452 |
| Proceeds from revolving credit facility, term loan facilities and other debt | 17,009,781 | 14,965,010 | 18,386,168 | 12,949,766 |
| Early redemption of senior subordinated and senior notes, including call premiums | - | - | - | 0 |
| Net proceeds from sales of senior notes | 1,390,651 | 1,188,000 | 990,000 | 0 |
| Equity contributions from noncontrolling interests | 93,347 | 230,814 | 24,684 | 29,172 |
| Equity distribution to noncontrolling interests | 12,924 | 2,684 | 3,855 | 2,953 |
| Repurchase of noncontrolling interest | 0 | 35,203 | 400 | 4,519 |
| Parent cash dividends | 919,388 | 789,527 | 737,650 | 724,388 |
| Payment of deferred purchase obligations and other deferred payments | 240,680 | 158,775 | - | - |
| Net (payments) proceeds associated with employee stock-based awards | 36,806 | 12,197 | -8,754 | -4,849 |
| Other, net | -12,712 | -35,674 | -32,606 | -9,570 |
| Cash flows from financing activities | 1,267,914 | 876,745 | 425,666 | 639,207 |
| Effect of exchange rates on cash and cash equivalents | -30,888 | -3,765 | -13,885 | -20,510 |
| Increase (decrease) in cash and cash equivalents | 2,819 | -67,073 | 80,992 | -114,031 |
| Cash and cash equivalents at beginning of period | 155,716 | 222,789 | 141,797 | 255,828 |
| Cash and cash equivalents at end of period | 158,535 | 155,716 | 222,789 | 141,797 |
IRON MOUNTAIN INC (IRM)
IRON MOUNTAIN INC (IRM)