Threshold percentage

  
[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)  
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)F. CONCENTRATIONS OF CREDIT RISKFinancial instruments that potentially subject us to credit risk consist principally of cash and cash equivalents (including money market funds and time deposits) and accounts receivable. The only significant concentrations of liquid investments as of December 31, 2021 and 2020 related to cash and cash equivalents. At December 31, 2021 and 2020, we had money market funds with four “Triple A” rated money market funds and time deposits with one global bank. As per our risk management investment policy, we limit exposure to concentration of credit risk by limiting the amount invested in any one mutual fund to a maximum of 1% of the fund's total assets or in any one financial institution to a maximum of $75,000. See Note 2.o.G. PREPAID EXPENSES AND ACCRUED EXPENSESThere are no prepaid expenses with items greater than 5% of total current assets as of December 31, 2021 and 2020.Accrued expenses and other current liabilities, with items greater than 5% of total current liabilities are shown separately, and consist of the following:

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| DESCRIPTION |  | 2021 |  | 2020 |
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| Interest |  | $ | 124,764  |  |  | $ | 131,448  |  |
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| Dividends |  | 190,559  |  |  | 187,867  |  |
| Operating lease liabilities |  | 259,597  |  |  | 250,239  |  |
| Other |  | 457,617  |  |  | 576,734  |  |
| Accrued expenses and other current liabilities |  | $ | 1,032,537  |  |  | $ | 1,146,288  |  |
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H. PROPERTY, PLANT AND EQUIPMENTProperty, plant and equipment are stated at cost and depreciated using the straight-line method with the following useful lives (in years):

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| DESCRIPTION | RANGE |
| Buildings and building improvements | 5 to 40 |
| Leasehold improvements | 5 to 10 or life of the lease (whichever is shorter) |
| Racking | 1 to 20 or life of the lease (whichever is shorter) |
| Warehouse equipment/vehicles | 1 to 10 |
| Furniture and fixtures | 1 to 10 |
| Computer hardware and software | 2 to 5 |



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|  | IRON MOUNTAIN 2021 FORM 10-K | 76 |


