Loss contingency, range of possible loss, portion not accrued

  
[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)8. COMMITMENTS AND CONTINGENCIES (CONTINUED)C. LITIGATION—GENERALWe are involved in litigation from time to time in the ordinary course of business, including litigation arising from damage to customer assets in our facilities caused by fires and other natural disasters. A portion of the defense and/or settlement costs associated with such litigation is covered by various commercial liability insurance policies purchased by us and, in limited cases, indemnification from third parties. Our policy is to establish reserves for loss contingencies when the losses are both probable and reasonably estimable. We record legal costs associated with loss contingencies as expenses in the period in which they are incurred. While the outcome of litigation is inherently uncertain, we do not believe any current litigation will have a material adverse effect on our consolidated financial condition, results of operations or cash flows. We have estimated a reasonably possible range for all loss contingencies and believe it is reasonably possible that we could incur aggregate losses in addition to amounts currently accrued for all matters up to an additional $25,000 over the next several years. 9. STOCKHOLDERS’ EQUITY MATTERSOur board of directors has adopted a dividend policy under which we have paid, and in the future intend to pay, quarterly cash dividends on our common stock. The amount and timing of future dividends will continue to be subject to the approval of our board of directors, in its sole discretion, and to applicable legal requirements.In 2019, 2020 and 2021, our board of directors declared the following dividends:

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| DECLARATION DATE |  | DIVIDENDPER SHARE |  | RECORD DATE |  | TOTAL AMOUNT |  | PAYMENT DATE |
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| February 7, 2019 |  | $ | 0.6110  |  |  | March 15, 2019 |  | $ | 175,242  |  |  | April 2, 2019 |
| May 22, 2019 |  | 0.6110  |  |  | June 17, 2019 |  | 175,389  |  |  | July 2, 2019 |
| July 26, 2019 |  | 0.6110  |  |  | September 16, 2019 |  | 175,434  |  |  | October 2, 2019 |
| October 31, 2019 |  | 0.6185  |  |  | December 16, 2019 |  | 177,687  |  |  | January 2, 2020 |
| February 13, 2020 |  | 0.6185  |  |  | March 16, 2020 |  | 178,047  |  |  | April 6, 2020 |
| May 5, 2020 |  | 0.6185  |  |  | June 15, 2020 |  | 178,212  |  |  | July 2, 2020 |
| August 5, 2020 |  | 0.6185  |  |  | September 15, 2020 |  | 178,224  |  |  | October 2, 2020 |
| November 4, 2020 |  | 0.6185  |  |  | December 15, 2020 |  | 178,290  |  |  | January 6, 2021 |
| February 24, 2021 |  | 0.6185  |  |  | March 15, 2021 |  | 178,569  |  |  | April 6, 2021 |
| May 6, 2021 |  | 0.6185  |  |  | June 15, 2021 |  | 179,026  |  |  | July 6, 2021 |
| August 5, 2021 |  | 0.6185  |  |  | September 15, 2021 |  | 179,080  |  |  | October 6, 2021 |
| November 4, 2021 |  | 0.6185  |  |  | December 15, 2021 |  | 179,132  |  |  | January 6, 2022 |

On February 24, 2022, we declared a dividend to our stockholders of record as of March 15, 2022 of $0.6185 per share, payable on April 6, 2022.

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| 111 | IRON MOUNTAIN 2021 FORM 10-K |  |


