Debt (Tables)

3 Months Ended

Mar. 31, 2013

Debt

Carrying amount and fair value of long-term debt instruments

	December 31, 2012					March 31, 2013
	Carrying Amount			Fair Value		Carrying Amount			Fair Value
Revolving Credit Facility(1)	$	55,500		$	55,500	$	110,400		$	110,400
Term Loan Facility(1)		462,500			462,500		456,250			456,250
71/4% GBP Senior Subordinated Notes due 2014 (the "71/4% Notes")(2)(3)		242,813			242,813		227,985			227,985
71/2% CAD Senior Subordinated Notes due 2017 (the "Subsidiary Notes")(2)(4)		175,875			181,591		171,981			176,496
8% Senior Subordinated Notes due 2018 (the "8% Notes")(2)(3)		49,834			56,052		49,841			55,305
63/4% Euro Senior Subordinated Notes due 2018 (the "63/4% Notes")(2)(3)		335,152			341,753		325,389			335,044
73/4% Senior Subordinated Notes due 2019 (the "73/4% Notes")(2)(3)		400,000			451,000		400,000			444,510
8% Senior Subordinated Notes due 2020 (the "8% Notes due 2020")(2)(3)		300,000			317,250		300,000			314,250
83/8% Senior Subordinated Notes due 2021 (the "83/8% Notes")(2)(3)		548,518			610,500		548,561			607,063
53/4% Senior Subordinated Notes due 2024 (the "53/4% Notes")(2)(3)		1,000,000			1,012,500		1,000,000			997,500
Real Estate Mortgages, Capital Leases and Other(5)		254,811			254,811		259,299			259,299
Total Long-term Debt		3,825,003					3,849,706
Less Current Portion		(92,887	)				(91,853	)
Long-term Debt, Net of Current Portion	$	3,732,116				$	3,757,853

(1)

The capital stock or other equity interests of most of our U.S. subsidiaries, and up to 66% of the capital stock or other equity interests of our first-tier foreign subsidiaries, are pledged to secure these debt instruments, together with all intercompany obligations of subsidiaries owed to us or to one of our U.S. subsidiary guarantors or Iron Mountain Canada Corporation ("Canada Company") and all promissory notes held by us or one of our U.S. subsidiary guarantors or Canada Company. The fair value of this long-term debt approximates the carrying value (as borrowings under these debt instruments are based on current variable market interest rates, which are subject to change based on our consolidated leverage ratio, as of December 31, 2012 and March 31, 2013, respectively).

(2)

The fair values of these debt instruments are based on quoted market prices for these notes on December 31, 2012 and March 31, 2013, respectively.

(3)

Collectively, the "Parent Notes." IMI is the direct obligor on the Parent Notes, which are fully and unconditionally guaranteed, on a senior subordinated basis, by substantially all of its direct and indirect 100% owned U.S. subsidiaries (the "Guarantors"). These guarantees are joint and several obligations of the Guarantors. Canada Company and the remainder of our subsidiaries do not guarantee the Parent Notes.

(4)

Canada Company is the direct obligor on the Subsidiary Notes, which are fully and unconditionally guaranteed, on a senior subordinated basis, by IMI and the Guarantors. These guarantees are joint and several obligations of IMI and the Guarantors.

(5)        We believe the fair value of this debt approximates its carrying value.

Term loan payments required as a percentage of original principal amount

Year Ending	Percentage
June 30, 2012		5	%
June 30, 2013		5	%
June 30, 2014		10	%
June 30, 2015		15	%
June 27, 2016		65	%