IRON MOUNTAIN INC (IRM) FY2025 Annual Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2025-01-01 to 2025-12-31

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IRON MOUNTAIN INC cash flow reconciliation, Jan 1, 2025 through Dec 31, 2025One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net income (loss) → Net cash from operating activities: $152,254,000.00Depreciation → Operating adjustments reconciliation: $730,885,000.00Amortization (includes amortization of deferred financing costs and discounts of $32,769, $25,580 and $16,859 in 2025, 2024 and 2023, respectively) → Operating adjustments reconciliation: $326,319,000.00Increase (decrease) in liabilities → Operating adjustments reconciliation: $202,121,000.00Stock-based compensation expense → Operating adjustments reconciliation: $140,280,000.00Foreign currency transactions and other, net → Operating adjustments reconciliation: $48,018,000.00Loss (gain) on disposal/write-down of property, plant and equipment, net → Operating adjustments reconciliation: $24,641,000.00Loss (gain) associated with the remeasurement of deferred purchase obligations → Operating adjustments reconciliation: $19,680,000.00Revenue reduction associated with amortization of customer inducements and data center above- and below-market leases → Operating adjustments reconciliation: $6,151,000.00Operating adjustments reconciliation → Net cash from operating activities: $1,187,745,000.00Operating adjustments reconciliation → (Increase) decrease in assets: $262,668,000.00Operating adjustments reconciliation → (Benefit) provision for deferred income taxes: $47,682,000.00Proceeds from revolving credit facility, term loan facilities and other debt → financing reconciliation: $17,009,781,000.00Net proceeds from sales of senior notes → financing reconciliation: $1,390,651,000.00Equity contributions from noncontrolling interests → financing reconciliation: $93,347,000.00financing reconciliation → Net cash from financing activities: $1,267,914,000.00financing reconciliation → Repayment of revolving credit facility, term loan facilities and other debt: $16,003,355,000.00financing reconciliation → Parent cash dividends: $919,388,000.00financing reconciliation → Payment of deferred purchase obligations and other deferred payments: $240,680,000.00financing reconciliation → Net (payments) proceeds associated with employee stock-based awards: $36,806,000.00financing reconciliation → Equity distribution to noncontrolling interests: $12,924,000.00financing reconciliation → Other, net: $12,712,000.00Net cash used in investing activities → investing reconciliation: $2,574,206,000.00Proceeds from sales of property and equipment and other, net → investing reconciliation: $13,635,000.00investing reconciliation → Capital expenditures: $2,271,628,000.00investing reconciliation → Cash paid for acquisitions, net of cash acquired: $101,625,000.00investing reconciliation → Contract costs: $95,924,000.00investing reconciliation → Acquisition of customer intangibles: $75,487,000.00investing reconciliation → Investments in joint ventures and other investments, net: $43,177,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $155,716,000.00Net cash from operating activities → Cash sources and uses: $1,339,999,000.00Net cash from financing activities → Cash sources and uses: $1,267,914,000.00Cash sources and uses → Exchange-rate effect: $30,888,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $158,535,000.00Cash sources and uses → Net cash used in investing activities: $2,574,206,000.00Loss (gain) associated with the remeasurement to fair value of our previously held equity interest: $0.00Loss (gain) associated with the remeasurement of deferred purchase obligations: $19,680,000.00Loss (gain) associated with the remeasurement ofdeferred purchase obligations+$19.68 MAmortization (includes amortization of deferred financing costs and discounts of $32,769, $25,580 and $16,859 in 2025, 2024 and 2023, respectively): $326,319,000.00Amortization expense+$326.32 MLoss (gain) on disposal/write-down of property, plant and equipment, net: $24,641,000.00Asset sales & impairments+$24.64 MRevenue reduction associated with amortization of customer inducements and data center above- and below-market leases: $6,151,000.00Revenue reduction associated with amortization ofcustomer inducements and data center above- andbelow-market leases+$6.15 MForeign currency transactions and other, net: $48,018,000.00Foreign currency transactions and other, net+$48.02 MDepreciation: $730,885,000.00Depreciation expense+$730.89 M(Increase) decrease in assets: -$262,668,000.00Operating assets−$262.67 MNet income (loss): $152,254,000.00Net income (loss)+$152.25 MStock-based compensation expense: $140,280,000.00Stock-based compensation+$140.28 M(Benefit) provision for deferred income taxes: -$47,682,000.00Deferred income taxes−$47.68 MIncrease (decrease) in liabilities: $202,121,000.00Operating liabilities, net+$202.12 MNet cash from operating activities: $1,339,999,000.00Operating cash+$1.34 BOperating adjustments reconciliation: $1,498,095,000.00Other, net: -$12,712,000.00Other financing, net−$12.71 MPayment of deferred purchase obligations and other deferred payments: -$240,680,000.00Contingent consideration paid−$240.68 MNet proceeds from sales of senior notes: $1,390,651,000.00Senior debt issued+$1.39 BEquity contributions from noncontrolling interests: $93,347,000.00From noncontrolling interests+$93.35 MNet (payments) proceeds associated with employee stock-based awards: -$36,806,000.00Net (payments) proceeds associated with employeestock-based awards−$36.81 MParent cash dividends: -$919,388,000.00Common dividends paid−$919.39 MEquity distribution to noncontrolling interests: -$12,924,000.00Paid to noncontrolling interests−$12.92 MProceeds from revolving credit facility, term loan facilities and other debt: $17,009,781,000.00Debt issued+$17.01 BRepurchase of noncontrolling interest: $0.00Repayment of revolving credit facility, term loan facilities and other debt: -$16,003,355,000.00Debt repaid−$16.00 BNet cash from financing activities: $1,267,914,000.00Financing cash+$1.27 Bfinancing reconciliation: $18,493,779,000.00Proceeds from sales of property and equipment and other, net: $13,635,000.00Asset sales+$13.64 MCapital expenditures: -$2,271,628,000.00PP&E purchases−$2.27 BInvestments in joint ventures and other investments, net: -$43,177,000.00Joint venture investments−$43.18 MCash paid for acquisitions, net of cash acquired: -$101,625,000.00Acquisitions, net of cash−$101.63 MContract costs: -$95,924,000.00Contract costs−$95.92 MAcquisition of customer intangibles: -$75,487,000.00Intangible asset purchases−$75.49 MNet cash used in investing activities: -$2,574,206,000.00. Cash required to fund net payments.Investing cash−$2.57 Binvesting reconciliation: $2,587,841,000.00Cash sources and uses: $2,763,629,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $155,716,000.00Beginning cash$155.72 MEnding cash: Cash, cash equivalents, and restricted cash: $158,535,000.00Ending cash$158.54 MExchange-rate effect: -$30,888,000.00FX effect−$30.89 MCASH RECONCILIATIONOperatingflowsFinancingflowsInvestingflowsFree cash flow−$931.63 MOperating cash − cash spent on PP&ECash flow / Net income8.80×Operating cash flow ÷ net incomeNet cash change+$2.82 MEnding cash − beginning cash
Chart details

IRON MOUNTAIN INC cash flow reconciliation, Jan 1, 2025 through Dec 31, 2025

Cash flows for Jan 1, 2025 through Dec 31, 2025. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2024. Ending cash: Dec 31, 2025. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2024
155,716,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
1,339,999,000 US dollars. Net cash provided.
Loss (gain) associated with the remeasurement to fair value of our previously held equity interest
0 US dollars
Loss (gain) associated with the remeasurement of deferred purchase obligations
19,680,000 US dollars
Amortization (includes amortization of deferred financing costs and discounts of $32,769, $25,580 and $16,859 in 2025, 2024 and 2023, respectively)
326,319,000 US dollars
Loss (gain) on disposal/write-down of property, plant and equipment, net
24,641,000 US dollars
Revenue reduction associated with amortization of customer inducements and data center above- and below-market leases
6,151,000 US dollars
Foreign currency transactions and other, net
48,018,000 US dollars
Depreciation
730,885,000 US dollars
(Increase) decrease in assets
negative 262,668,000 US dollars
Net income (loss)
152,254,000 US dollars
Stock-based compensation expense
140,280,000 US dollars
(Benefit) provision for deferred income taxes
negative 47,682,000 US dollars
Increase (decrease) in liabilities
202,121,000 US dollars
Investing activities
negative 2,574,206,000 US dollars. Net cash used.
Proceeds from sales of property and equipment and other, net
13,635,000 US dollars
Capital expenditures
negative 2,271,628,000 US dollars
Investments in joint ventures and other investments, net
negative 43,177,000 US dollars
Cash paid for acquisitions, net of cash acquired
negative 101,625,000 US dollars
Contract costs
negative 95,924,000 US dollars
Acquisition of customer intangibles
negative 75,487,000 US dollars
Financing activities
1,267,914,000 US dollars. Net cash provided.
Other, net
negative 12,712,000 US dollars
Payment of deferred purchase obligations and other deferred payments
negative 240,680,000 US dollars
Net proceeds from sales of senior notes
1,390,651,000 US dollars
Equity contributions from noncontrolling interests
93,347,000 US dollars
Net (payments) proceeds associated with employee stock-based awards
negative 36,806,000 US dollars
Parent cash dividends
negative 919,388,000 US dollars
Equity distribution to noncontrolling interests
negative 12,924,000 US dollars
Proceeds from revolving credit facility, term loan facilities and other debt
17,009,781,000 US dollars
Repurchase of noncontrolling interest
0 US dollars
Repayment of revolving credit facility, term loan facilities and other debt
negative 16,003,355,000 US dollars
Operating adjustment reconciliation
1,498,095,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
18,493,779,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
2,587,841,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
negative 30,888,000 US dollars
Ending cash on Dec 31, 2025
158,535,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
2,763,629,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
2,819,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
8.80×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
1,339,999,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
2,271,628,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
negative 931,629,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $1.19B after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 1,339,999,000 US dollars minus 2,271,628,000 US dollars equals negative 931,629,000 US dollars.
IRON MOUNTAIN INC (IRM) FY2025 Annual Statement of Cash Flows Sankey chart
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