Value of possible subsequent acquisition

  
[Table of Contents](#i1d117440a79147f69db4408bc4f22334_10)Part IV

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IRON MOUNTAIN INCORPORATEDNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)DECEMBER 31, 2021(In thousands, except share and per share data)13. PROJECT SUMMIT (CONTINUED)A rollforward of the accrued Restructuring Charges, which is included as a component of Accrued expenses and other current liabilities in our Consolidated Balance Sheet from the inception of Project Summit through December 31, 2021 is as follows:

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|  |  | EMPLOYEE SEVERANCE COSTS |  | PROFESSIONAL FEES AND OTHER |  | TOTAL ACCRUED RESTRUCTURING CHARGES |
| Inception of Project Summit |  | $ | —  |  |  | $ | —  |  |  | $ | —  |  |
| Amounts accrued |  | 20,850  |  |  | 27,747  |  |  | 48,597  |  |
| Payments |  | (16,027) |  |  | (14,793) |  |  | (30,820) |  |
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| Balance as of December 31, 2019 |  | 4,823  |  |  | 12,954  |  |  | 17,777  |  |
| Amounts accrued |  | 47,349  |  |  | 147,047  |  |  | 194,396  |  |
| Payments |  | (32,455) |  |  | (136,222) |  |  | (168,677) |  |
| Other, including currency translation adjustments |  | (3,439) |  |  | (4) |  |  | (3,443) |  |
| Balance as of December 31, 2020 |  | $ | 16,278  |  |  | $ | 23,775  |  |  | $ | 40,053  |  |
| Amounts accrued |  | 22,809  |  |  | 183,617  |  |  | 206,426  |  |
| Payments |  | (29,956) |  |  | (199,664) |  |  | (229,620) |  |
| Other, including currency translation adjustments |  | 2,858  |  |  | —  |  |  | 2,858  |  |
| Balance as of December 31, 2021 |  | $ | 11,989  |  |  | $ | 7,728  |  |  | $ | 19,717  |  |

 14. SUBSEQUENT EVENTSOn January 25, 2022, we acquired an approximately 80% interest in Intercept Parent, Inc. (“ITRenew”), a company with asset lifecycle management operations primarily in the United States, for approximately $725,000 (the “ITRenew Transaction”). The acquisition agreement also provides us the option to purchase, and the shareholders the option to sell, the remaining approximately 20% interest in ITRenew as follows: (i) approximately 16% on or after the second anniversary of the ITRenew Transaction and (ii) approximately 4% on or after the third anniversary of the ITRenew Transaction (collectively, the ”Remaining Interest"), each at a purchase price to be determined based upon the achievement of certain performance metrics, but for no less than $200,000 in total. 

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| 123 | IRON MOUNTAIN 2021 FORM 10-K |  |


