Item 2. PROPERTIES.

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Item 2. PROPERTIES.

As of December 31, 2021, we conducted operations through 1,184 leased facilities and 263 owned facilities. Our facilities are divided among our reportable operating segments as follows: Global RIM Business (1,363), Global Data Center Business (17) and Corporate and Other Business (67). These facilities contain a total of approximately 94.6 million square feet of space. A breakdown of owned and leased facilities by country (and by state within the United States) is listed below:


			IRON MOUNTAIN 2021 FORM 10-K			21

Part I


	LEASED				OWNED				TOTAL
COUNTRY/STATE	NUMBER		SQUARE FEET		NUMBER		SQUARE FEET		NUMBER		SQUARE FEET
North America
United States (Including Puerto Rico)
Alabama		3		312,473		1		12,621		4		325,094
Arizona		8		496,448		6		1,207,281		14		1,703,729
Arkansas		2		63,604		—		—		2		63,604
California		67		5,908,150		10		958,856		77		6,867,006
Colorado		8		466,336		4		484,490		12		950,826
Connecticut		6		309,836		3		527,666		9		837,502
Delaware		3		239,640		1		120,921		4		360,561
District of Columbia		1		1,670		—		—		1		1,670
Florida		31		2,240,035		5		263,930		36		2,503,965
Georgia		9		798,880		5		265,049		14		1,063,929
Idaho		2		105,021		—		—		2		105,021
Illinois		15		1,213,808		7		1,309,975		22		2,523,783
Indiana		6		344,516		—		—		6		344,516
Iowa		2		145,138		1		14,200		3		159,338
Kansas		3		253,919		—		—		3		253,919
Kentucky		2		64,000		4		418,760		6		482,760
Louisiana		4		388,475		—		—		4		388,475
Maine		—		—		1		95,000		1		95,000
Maryland		20		2,139,060		2		83,442		22		2,222,502
Massachusetts (including Corporate Headquarters)		8		545,039		7		1,025,167		15		1,570,206
Michigan		17		1,068,499		2		62,300		19		1,130,799
Minnesota		12		908,474		—		—		12		908,474
Mississippi		3		201,300		—		—		3		201,300
Missouri		13		1,548,828		1		25,120		14		1,573,948
Montana		3		38,548		—		—		3		38,548
Nebraska		1		34,560		2		266,733		3		301,293
Nevada		7		276,520		1		107,041		8		383,561
New Hampshire		—		—		1		146,467		1		146,467
New Jersey		33		3,074,071		8		2,476,635		41		5,550,706
New Mexico		3		151,473		—		—		3		151,473
New York		18		877,103		12		1,166,558		30		2,043,661
North Carolina		19		976,504		3		150,624		22		1,127,128
Ohio		14		1,074,262		4		250,291		18		1,324,553
Oklahoma		5		228,425		—		—		5		228,425
Oregon		11		384,296		1		55,621		12		439,917
Pennsylvania		23		2,181,786		3		2,062,761		26		4,244,547
Puerto Rico		4		237,969		1		54,352		5		292,321
Rhode Island		1		70,159		1		12,748		2		82,907
South Carolina		5		261,011		2		214,238		7		475,249
Tennessee		5		256,743		4		63,909		9		320,652
Texas		43		2,349,451		21		1,894,453		64		4,243,904
Utah		2		78,148		1		90,553		3		168,701
Vermont		2		55,200		—		—		2		55,200
Virginia		12		685,369		7		795,036		19		1,480,405
Washington		6		701,991		5		196,028		11		898,019
West Virginia		2		105,502		—		—		2		105,502
Wisconsin		5		379,857		1		10,655		6		390,512
Total United States		469		34,242,097		138		16,889,481		607		51,131,578
Canada		46		3,081,804		16		1,783,258		62		4,865,062
Total North America		515		37,323,901		154		18,672,739		669		55,996,640


22			IRON MOUNTAIN 2021 FORM 10-K

Part I




	LEASED				OWNED				TOTAL
COUNTRY/STATE	NUMBER		SQUARE FEET		NUMBER		SQUARE FEET		NUMBER		SQUARE FEET
International
Argentina		2		134,753		4		298,864		6		433,617
Armenia		3		13,712		—		—		3		13,712
Australia		41		2,888,639		2		33,845		43		2,922,484
Austria		3		92,296		1		58,771		4		151,067
Bahrain		2		33,659		—		—		2		33,659
Belarus		4		18,472		—		—		4		18,472
Belgium		4		202,106		1		104,391		5		306,497
Brazil		41		2,813,259		6		291,280		47		3,104,539
Bulgaria		1		68,889		—		—		1		68,889
Chile		2		6,846		17		667,790		19		674,636
China Mainland (including China - Hong Kong S.A.R., China-Taiwan and China-Macau S.A.R.)		46		1,960,751		1		20,518		47		1,981,269
Colombia		21		799,378		—		—		21		799,378
Croatia		2		62,786		1		36,447		3		99,233
Cyprus		2		51,118		2		46,246		4		97,364
Czech Republic		7		152,889		—		—		7		152,889
Denmark		3		161,361		—		—		3		161,361
Egypt		—		—		1		163,611		1		163,611
England		66		3,551,854		18		598,009		84		4,149,863
Estonia		1		38,861		—		—		1		38,861
Eswatini		3		6,997		—		—		3		6,997
Finland		3		95,896		—		—		3		95,896
France		31		2,078,227		12		936,486		43		3,014,713
Germany		15		698,593		3		308,504		18		1,007,097
Greece		5		314,894		—		—		5		314,894
Hungary		8		388,033		—		—		8		388,033
India		70		3,147,462		—		—		70		3,147,462
Indonesia		15		485,809		2		58,965		17		544,774
Ireland		2		118,831		3		158,558		5		277,389
Jordan		—		—		1		24,757		1		24,757
Kazakhstan		4		46,482		—		—		4		46,482
Latvia		2		50,681		—		—		2		50,681
Lesotho		2		4,736		—		—		2		4,736
Lithuania		2		60,543		—		—		2		60,543
Malaysia		8		443,149		—		—		8		443,149
Mexico		10		478,471		8		585,885		18		1,064,356
Morocco		6		554,439		—		—		6		554,439
The Netherlands		7		522,687		1		37,355		8		560,042
New Zealand		6		413,959		—		—		6		413,959
Northern Ireland		3		129,083		—		—		3		129,083
Norway		5		194,321		—		—		5		194,321
Oman		2		60,202		—		—		2		60,202
Peru		3		60,720		10		433,770		13		494,490
Philippines		9		338,040		—		—		9		338,040
Poland		19		796,561		—		—		19		796,561
Romania		8		451,954		—		—		8		451,954
Russia		42		1,811,370		—		—		42		1,811,370
Saudi Arabia		7		400,687		—		—		7		400,687
Scotland		1		67,191		4		375,294		5		442,485
Serbia		3		98,876		—		—		3		98,876
Singapore		6		297,581		3		345,056		9		642,637
Slovakia		5		173,792		—		—		5		173,792
South Africa		16		477,046		—		—		16		477,046
South Korea		8		257,233		—		—		8		257,233
Spain		30		754,667		5		170,707		35		925,374
Sweden		6		759,793		—		—		6		759,793
Switzerland		12		283,857		—		—		12		283,857


			IRON MOUNTAIN 2021 FORM 10-K			23

Part I



	LEASED				OWNED				TOTAL
COUNTRY/STATE	NUMBER		SQUARE FEET		NUMBER		SQUARE FEET		NUMBER		SQUARE FEET
International (Continued)
Thailand		4		267,989		2		105,487		6		373,476
Turkey		9		683,641		—		—		9		683,641
Ukraine		10		208,050		—		—		10		208,050
United Arab Emirates		10		833,421		1		349,526		11		1,182,947
Vietnam		1		54,767		—		—		1		54,767
Total International		669		32,422,360		109		6,210,122		778		38,632,482
Total		1,184		69,746,261		263		24,882,861		1,447		94,629,122

The leased facilities typically have initial lease terms of five to 10 years with one or more renewal options. In addition, some of the leases contain either a purchase option or a right of first refusal upon the sale of the property. We believe that the space available in our facilities is adequate to meet our current needs, although future growth may require that we lease or purchase additional real property.

Our total building utilization and total racking utilization by region as of December 31, 2021 in Records Management and Data Management are as follows:


	RECORDS MANAGEMENT(1)		DATA MANAGEMENT
REGION	BUILDING UTILIZATION	RACKING UTILIZATION	BUILDING UTILIZATION	RACKING UTILIZATION
North America	80%	87%	58%	66%
Europe	85%	91%	40%	59%
Latin America	87%	90%	73%	75%
Asia	84%	92%	58%	70%
Total	82%	89%	55%	66%

(1)Total building utilization and total racking utilization for Records Management includes the utilization for GDS and Consumer Storage.

See Note 2.i. to Notes to Consolidated Financial Statements included in this Annual Report for information regarding our minimum annual lease commitments as a lessee.

See Schedule III—Schedule of Real Estate and Accumulated Depreciation in this Annual Report for information regarding the cost, accumulated depreciation and encumbrances associated with our owned real estate.

The following table sets forth a summary of the lease expirations for leases in place related to our Global Data Center Business, for which we are the lessor, as of December 31, 2021. The information set forth in the table assumes that tenants exercise no renewal options and all early termination rights.


YEAR	NUMBER OF LEASES EXPIRING	TOTAL MEGAWATTS EXPIRING	PERCENTAGE OF TOTAL MEGAWATTS EXPIRING		ANNUALIZED TOTAL CONTRACT RENT EXPIRING (IN THOUSANDS)		PERCENTAGE OF TOTAL CONTRACT VALUE ANNUALIZED RENT
2022	556	15.1	8.4	%	$	47,646	14.7	%
2023	350	22.7	12.6	%	63,540		19.6	%
2024	237	12.9	7.2	%	32,704		10.1	%
2025	77	20.0	11.1	%	43,748		13.5	%
2026	63	20.0	11.1	%	33,746		10.4	%
2027	10	3.2	1.8	%	6,429		2.0	%
2028	13	37.7	20.9	%	47,216		14.6	%
Thereafter	14	48.5	26.9	%	48,715		15.1	%
Total	1,320	180.1	100.0	%	$	323,744	100.0	%


24			IRON MOUNTAIN 2021 FORM 10-K

Part I

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