AI English summary of an SEC filing — figures as filed
Iron Mountain IRMIron Mountain said it expects Project Matterhorn costs of about $150.0 million per year from 2023 through 2025. Costs for the 9 months ended September 30, 2024 were about $124.6 million, and cumulative costs since the project began were about $341.7 million.
Key points
AI summaryIron Mountain said it expects Project Matterhorn costs of about $150.0 million per year from 2023 through 2025. Costs for the 9 months ended September 30, 2024 were about $124.6 million, and cumulative costs since the project began were about $341.7 million.
The company said net cash provided by operating activities for the 9 months ended 2024 rose $98.8 million from the prior-year period. It said it spent $1,174.0 million on capital expenditures and paid $174.4 million for acquisitions, net of cash acquired.
The company said net cash provided by financing activities for the 9 months ended 2024 was about $1,273.3 million, mainly from borrowings under the Revolving Credit Facility. It said it paid $579.5 million in common stock dividends.
The company said interest expense, net for the 9 months ended 2024 was $527.1 million, up $93.0 million from $434.1 million in the prior-year period. It cited higher average debt outstanding and a higher weighted average interest rate (5.7% at September 30, 2024 and 5.5% at September 30, 2023) as factors.
Key figures
Quarter ended September 30, 2024
- Revenue
- $1.6B
- Operating income
- $251M
- Net income
- −$34M
- EPS
- −$0.11
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Project Matterhorn Costs
Iron Mountain said it expects Project Matterhorn costs of about $150.0 million per year from 2023 through 2025. Costs for the 9 months ended September 30, 2024 were about $124.6 million, and cumulative costs since the project began were about $341.7 million.
Source · Based on the MD&A text of the filing
9-Month Operating Cash Flow and Capital Expenditures
The company said net cash provided by operating activities for the 9 months ended 2024 rose $98.8 million from the prior-year period. It said it spent $1,174.0 million on capital expenditures and paid $174.4 million for acquisitions, net of cash acquired.
Source · Based on the MD&A text of the filing
Borrowing and Dividend Cash Flows
The company said net cash provided by financing activities for the 9 months ended 2024 was about $1,273.3 million, mainly from borrowings under the Revolving Credit Facility. It said it paid $579.5 million in common stock dividends.
Source · Based on the MD&A text of the filing
Higher Interest Expense, Net
The company said interest expense, net for the 9 months ended 2024 was $527.1 million, up $93.0 million from $434.1 million in the prior-year period. It cited higher average debt outstanding and a higher weighted average interest rate (5.7% at September 30, 2024 and 5.5% at September 30, 2023) as factors.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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