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Acquisitions
 9 Months Ended
Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]  
Acquisitions ACQUISITIONS
INFOFORT ACQUISITION
On September 15, 2021, in order to further expand our records management operations in the Middle East and North Africa, we acquired Information Fort, LLC, a records and information management provider, for approximately $90,300.
FRANKFURT DATA CENTER ACQUISITION
On September 23, 2021, in order to further enhance our data center operations in Germany, we acquired a Frankfurt data center for approximately 77,900 Euros (or approximately $91,300, based upon the exchange rate between the Euro and the United States dollar on the closing date of this acquisition).
OTHER 2021 ACQUISITIONS
In addition to the transactions noted above, during the nine months ended September 30, 2021, in order to enhance our existing operations in the United Kingdom and Indonesia and to expand our operations into Morocco, we completed the acquisition of two records management companies and one art storage company for total cash consideration of approximately $45,100.
PURCHASE PRICE ALLOCATION
A summary of the cumulative consideration paid and the preliminary allocation of the purchase price paid for all of our 2021 acquisitions through September 30, 2021 is as follows:
NINE MONTHS ENDED
SEPTEMBER 30, 2021
Cash Paid (gross of cash acquired)$224,192 
Fair Value of Noncontrolling Interests3,878 
Purchase Price Holdbacks and Other2,534 
Total Consideration230,604 
Fair Value of Identifiable Assets Acquired and Liabilities Assumed:
Cash20,440 
Accounts Receivable, Prepaid Expenses and Other Assets25,392 
Property, Plant and Equipment(1)
147,132 
Customer Relationship Intangible Assets(2)
39,315 
Operating Lease Right-of-Use Assets45,209 
Data Center In-Place Leases(3)
4,994 
Data Center Tenant Relationships(4)
4,682 
Data Center Above-Market Leases(5)
1,042 
Debt Assumed(9,026)
Accounts Payable, Accrued Expenses and Other Liabilities(23,082)
Operating Lease Liabilities(45,209)
Deferred Income Taxes(7,436)
Data Center Below-Market Leases(5)
(20)
Total Fair Value of Identifiable Net Assets Acquired203,433 
Goodwill Initially Recorded$27,171 
(1)Consists primarily of land and building.
(2)The preliminary weighted average lives of customer relationship intangible assets associated with acquisitions is 9 years.
(3)     The preliminary weighted average lives of data center in-place leases associated with acquisitions is 5 years.
(4) The preliminary weighted average lives of data center tenant relationships associated with acquisitions is 5 years.
(5) The preliminary weighted average lives of data center above-market leases associated with acquisitions is 5 years and the weighted average lives of data center below-market leases associated with acquisitions is 4 years.
The preliminary purchase price allocations that are not finalized as of September 30, 2021 relate to the final assessment of the fair values of intangible assets (primarily customer relationship intangible assets) and property, plant and equipment associated with the acquisitions we closed in 2021. Any adjustments to our estimates of purchase price allocation will be made in the periods in which the adjustments are determined, but no later than the one year measurement period, and the cumulative effect of such adjustments will be calculated as if the adjustments had been completed as of the acquisition dates. Adjustments recorded during the nine months ended September 30, 2021 were not material to our results from operations.