Item 2. PROPERTIES.

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Item 2. PROPERTIES.

As of December 31, 2022, we conducted operations through 1,143 leased facilities and 237 owned facilities. Our facilities are divided among our reportable segments and Corporate and Other as follows: Global RIM Business (1,303), Global Data Center Business (20) and Corporate and Other (57). These facilities contain a total of approximately 96.8 million square feet of space. A breakdown of owned and leased facilities by country (and by state within the United States) is listed below:


20			IRON MOUNTAIN 2022 FORM 10-K

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		305,168		—		—		3		305,168
Arizona		7		458,816		6		1,207,281		13		1,666,097
Arkansas		2		63,604		—		—		2		63,604
California		74		7,038,267		9		942,356		83		7,980,623
Colorado		7		426,051		4		484,490		11		910,541
Connecticut		5		312,797		3		527,666		8		840,463
Delaware		3		239,640		1		120,921		4		360,561
District of Columbia		1		1,670		—		—		1		1,670
Florida		36		2,853,687		1		119,374		37		2,973,061
Georgia		12		940,981		2		129,611		14		1,070,592
Idaho		1		45,000		—		—		1		45,000
Illinois		15		1,332,038		7		1,309,975		22		2,642,013
Indiana		6		344,516		—		—		6		344,516
Iowa		3		148,902		1		14,200		4		163,102
Kansas		4		569,161		—		—		4		569,161
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		21		2,115,409		1		19,001		22		2,134,410
Massachusetts		9		636,776		6		933,102		15		1,569,878
Michigan		16		1,008,556		1		39,502		17		1,048,058
Minnesota		11		878,128		—		—		11		878,128
Mississippi		3		201,300		—		—		3		201,300
Missouri		13		1,598,233		1		25,120		14		1,623,353
Montana		3		38,548		—		—		3		38,548
Nebraska		1		34,560		2		266,733		3		301,293
Nevada		11		294,248		1		107,041		12		401,289
New Hampshire		—		—		1		146,467		1		146,467
New Jersey		28		3,194,278		8		2,476,635		36		5,670,913
New Mexico		2		114,473		—		—		2		114,473
New York		19		1,016,433		10		970,800		29		1,987,233
North Carolina		21		1,031,135		1		97,000		22		1,128,135
Ohio		12		1,004,283		4		250,291		16		1,254,574
Oklahoma		4		196,044		—		—		4		196,044
Oregon		12		438,586		—		—		12		438,586
Pennsylvania		22		2,258,440		3		2,062,761		25		4,321,201
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		36		2,145,170		19		1,838,880		55		3,984,050
Utah		2		78,148		1		90,553		3		168,701
Vermont		1		35,200		—		—		1		35,200
Virginia		17		1,533,701		4		375,791		21		1,909,492
Washington		9		820,825		4		180,228		13		1,001,053
West Virginia		2		105,502		—		—		2		105,502
Wisconsin		5		379,857		1		10,655		6		390,512
Total United States		480		37,516,488		115		15,605,441		595		53,121,929
Canada		44		3,036,929		15		1,713,060		59		4,749,989
Total North America		524		40,553,417		130		17,318,501		654		57,871,918


			IRON MOUNTAIN 2022 FORM 10-K			21

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
Australia		41		2,990,138		1		13,885		42		3,004,023
Austria		3		65,924		1		58,771		4		124,695
Bahrain		2		33,659		—		—		2		33,659
Belgium		4		202,106		1		104,391		5		306,497
Brazil		38		2,594,240		6		291,280		44		2,885,520
Bulgaria		1		68,889		—		—		1		68,889
Chile		3		7,115		17		667,790		20		674,905
China Mainland (including China - Hong Kong S.A.R., China-Taiwan and China-Macau S.A.R.)		48		1,970,749		1		20,518		49		1,991,267
Colombia		17		784,395		—		—		17		784,395
Croatia		1		26,049		1		36,447		2		62,496
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		54,304		1		163,611		2		217,915
England		66		4,577,247		18		598,009		84		5,175,256
Estonia		1		38,861		—		—		1		38,861
Eswatini		3		6,997		—		—		3		6,997
Finland		3		95,896		—		—		3		95,896
France		31		2,126,805		12		936,486		43		3,063,291
Germany		16		894,412		3		308,504		19		1,202,916
Greece		6		608,081		—		—		6		608,081
Hungary		7		350,898		—		—		7		350,898
India		66		3,211,105		—		—		66		3,211,105
Indonesia		16		487,101		2		58,965		18		546,066
Ireland		4		345,962		3		158,558		7		504,520
Jordan		1		107,639		—		—		1		107,639
Kuwait		2		11,626		—		—		2		11,626
Latvia		2		50,681		—		—		2		50,681
Lesotho		2		4,736		—		—		2		4,736
Lithuania		2		60,543		—		—		2		60,543
Malaysia		10		495,755		—		—		10		495,755
Mexico		10		478,471		8		585,885		18		1,064,356
Morocco		9		665,554		—		—		9		665,554
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		2		47,265		10		433,770		12		481,035
Philippines		10		349,132		—		—		10		349,132
Poland		19		801,189		—		—		19		801,189
Romania		8		451,954		—		—		8		451,954
Saudi Arabia		7		400,687		—		—		7		400,687
Scotland		3		139,722		3		324,751		6		464,473
Serbia		3		118,380		—		—		3		118,380
Singapore		7		305,223		3		345,056		10		650,279
Slovakia		5		172,769		—		—		5		172,769
South Africa		15		464,345		—		—		15		464,345
South Korea		8		257,233		—		—		8		257,233
Spain		28		655,746		6		220,199		34		875,945
Sweden		8		1,049,181		—		—		8		1,049,181
Switzerland		12		283,857		—		—		12		283,857
Thailand		4		267,989		2		105,487		6		373,476


22			IRON MOUNTAIN 2022 FORM 10-K

Part I


	LEASED				OWNED				TOTAL
COUNTRY/STATE	NUMBER		SQUARE FEET		NUMBER		SQUARE FEET		NUMBER		SQUARE FEET
International (continued)
Turkey		9		683,641		—		—		9		683,641
Ukraine		10		208,050		—		—		10		208,050
United Arab Emirates		7		702,524		1		434,442		8		1,136,966
Vietnam		1		54,767		—		—		1		54,767
Total International		619		32,649,965		107		6,249,270		726		38,899,235
Total		1,143		73,203,382		237		23,567,771		1,380		96,771,153

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 as of December 31, 2022 in Records Management and Data Management are as follows:


RECORDS MANAGEMENT(1)		DATA MANAGEMENT
BUILDING UTILIZATION	RACKING UTILIZATION	BUILDING UTILIZATION	RACKING UTILIZATION




81%	89%	44%	61%

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

See Note 2.j. 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, 2022. 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
2023	582	22.3	7.0	%	$	65,831	15.7	%
2024	331	17.7	5.6	%	48,342		11.5	%
2025	251	28.9	9.1	%	65,643		15.7	%
2026	88	21.8	6.9	%	38,298		9.1	%
2027	31	8.2	2.6	%	17,655		4.2	%
2028	28	47.8	15.1	%	57,131		13.6	%
2029	6	22.3	7.0	%	19,605		4.7	%
Thereafter	17	147.9	46.7	%	106,713		25.5	%
Total	1,334	316.9	100.0	%	$	419,218	100.0	%


			IRON MOUNTAIN 2022 FORM 10-K			23

Part I

Previous: Item 1B. UNRESOLVED STAFF COMMENTS. · Next: Item 3. LEGAL PROCEEDINGS.