Acquisitions

  
[Table of Contents](#i1d117440a79147f69db4408bc4f22334_10)Part IV

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IRON MOUNTAIN INCORPORATEDSCHEDULE III—SCHEDULE OF REAL ESTATE AND ACCUMULATED DEPRECIATION (CONTINUED)DECEMBER 31, 2021(Dollars in thousands)(8)The following tables present the changes in gross carrying amount of real estate owned and accumulated depreciation for the years ended December 31, 2021 and 2020:

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|  |  | YEAR ENDED DECEMBER 31, |
| GROSS CARRYING AMOUNT OF REAL ESTATE |  | 2021 |  | 2020 |
| Gross amount at beginning of period |  | $ | 3,830,489  |  |  | $ | 3,856,515  |  |
| Additions during period: |  |  |  |  |
| Acquisitions |  | 120,307  |  |  | —  |  |
| Discretionary capital projects |  | 386,752  |  |  | 157,239  |  |
| Other adjustments(1) |  | —  |  |  | 66,978  |  |
| Foreign currency translation fluctuations |  | (51,363) |  |  | 10,198  |  |
|  |  | 455,696  |  |  | 234,415  |  |
| Deductions during period: |  |  |  |  |
| Cost of real estate sold, disposed or written-down  |  | (119,154) |  |  | (178,869) |  |
| Other adjustments(2) |  | (37,780) |  |  | (81,572) |  |
|   |  | (156,934) |  |  | (260,441) |  |
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| Gross amount at end of period |  | $ | 4,129,251  |  |  | $ | 3,830,489  |  |

(1)For the year ended December 31, 2020, this includes previously recorded construction in progress, not classified as owned real estate at December 31, 2019. (2)For the years ended December 31, 2021 and 2020, this includes the cost of racking associated with the facilities sold as part of the sale-leaseback transactions.

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|  |  | YEAR ENDED DECEMBER 31, |
| ACCUMULATED DEPRECIATION |  | 2021 |  | 2020 |
| Gross amount of accumulated depreciation at beginning of period |  | $ | 1,097,616  |  |  | $ | 1,072,013  |  |
| Additions during period: |  |   |  |  |
| Depreciation |  | 147,134  |  |  | 123,447  |  |
| Foreign currency translation fluctuations |  | (15,135) |  |  | 8,590  |  |
|  |  | 131,999  |  |  | 132,037  |  |
| Deductions during period: |  |   |  |  |
| Amount of accumulated depreciation for real estate assets sold, disposed or written-down |  | (41,376) |  |  | (54,978) |  |
| Other adjustments(1) |  | (27,749) |  |  | (51,456) |  |
|  |  | (69,125) |  |   | (106,434) |  |
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| Gross amount of end of period |  | $ | 1,160,490  |  |  | $ | 1,097,616  |  |

(1)For the years ended December 31, 2021 and 2020, this includes the accumulated depreciation of racking associated with the facilities sold as part of the sale-leaseback transactions. The aggregate cost of our real estate assets for federal tax purposes at December 31, 2021 was approximately $3,910,000.ITEM 16.     FORM 10-K SUMMARY.Not applicable. 

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| 137 | IRON MOUNTAIN 2021 FORM 10-K |  |


