EXTRA SPACE STORAGE INC. EXR Income Statement

Extra space storage inc. (EXR)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Revenues:
Property rental
286,703	288,673	290,917	279,584	271,003	266,598	266,728	258,128	247,886	246,351	248,589	240,796	231,493	229,012	224,451	211,791	199,488	195,672	170,548	161,024	148,894	144,420	144,669	138,778	132,001	122,538	113,881	107,340	102,923	97,681	94,065	79,284	75,844	73,460	69,475	64,300	61,490	60,186	59,332	56,786	56,143	60,380	58,705
Tenant reinsurance
33,613	33,301	33,588	31,701	29,797	29,847	30,105	28,521	27,034	25,351	25,882	24,313	22,855	22,355	22,727	21,654	20,555	19,895	18,226	17,340	16,510	15,716	15,385	14,508	13,463	12,692	12,294	12,110	10,221	9,756	9,495	9,008	8,557	8,292	8,269	7,596	7,024	6,902	6,796	6,338	5,892	5,542	5,085
Management fees and other income
12,136	13,827	13,000	12,317	10,746	10,908	10,120	10,164	10,565	10,140	9,685	10,894	8,660	9,649	10,005	10,828	9,360	10,192	8,723	7,496	7,750	4,641	9,013	7,438	7,123	6,704	6,936	6,796	6,178	6,230	6,231	6,659	6,586	11,460	6,353	6,144	5,967	6,066	5,851	5,653	5,552	5,191	5,275
Total revenues
332,452	335,801	337,505	323,602	311,546	307,353	306,953	296,813	285,485	281,842	284,156	276,003	263,008	261,016	257,183	244,273	229,403	225,759	197,497	185,860	173,154	164,777	169,067	160,724	152,587	141,934	133,111	126,246	119,322	113,667	109,791	94,951	90,987	93,212	84,097	78,040	74,481	73,154	71,979	68,777	67,587	71,113	69,065
Expenses:
Property operations
90,297	87,762	88,653	80,870	78,765	72,207	73,652	73,083	72,753	67,604	70,430	67,295	66,645	64,122	62,341	62,430	61,112	59,634	48,878	48,209	47,244	43,346	43,294	42,294	43,482	37,737	34,376	33,462	34,437	31,305	30,115	26,012	26,596	25,155	24,270	22,712	23,344	21,934	21,334	20,941	21,956	23,022	21,567
Tenant reinsurance
6,678	7,783	7,644	6,982	6,967	6,909	7,720	5,471	5,607	5,177	6,272	3,804	3,920	3,210	4,093	3,941	4,311	3,214	3,608	3,283	2,928	2,294	2,930	2,636	2,567	2,037	2,873	2,202	1,910	3,218	1,379	1,424	1,848	1,550	1,596	1,382	1,615	2,089	1,736	1,457	1,223	1,264	1,471
Acquisition related costs and other
-	-	-	-	-	-	-	-	-	-	-	-	-	2,987	1,933	3,138	4,053	63,698	280	4,554	869	5,941	436	1,393	2,056	5,056	2,427	683	452	1,787	2,486	469	609	731	346	1,570	249	812	211	142	70	22	18,801
Loss on sublease
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,000	-	-	-	-
Severance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,400
General and administrative
23,011	20,870	22,519	23,351	22,678	18,434	19,707	21,651	21,464	18,790	19,498	21,865	18,808	18,355	19,537	20,512	23,402	18,138	16,716	16,655	16,249	14,099	15,665	15,469	15,709	13,795	13,943	13,739	12,769	12,710	12,559	12,545	12,640	13,287	12,306	12,432	11,658	11,525	10,618	11,229	11,056	9,791	10,612
Depreciation and amortization
55,275	54,741	56,051	54,406	54,659	53,126	52,283	51,892	51,749	49,157	48,075	46,632	49,432	49,158	46,555	43,950	42,897	40,766	30,711	31,552	30,428	29,181	29,249	28,271	28,375	25,994	23,428	22,785	23,025	21,535	19,768	16,626	16,524	15,973	14,364	14,092	13,585	13,209	12,519	12,202	12,419	13,797	12,840
Total expenses
175,261	171,156	174,867	165,609	163,069	150,676	153,362	152,097	151,573	140,728	144,275	139,596	138,805	137,832	134,459	133,971	135,775	185,450	100,193	104,253	97,718	94,861	91,574	90,063	92,189	84,619	77,047	72,871	72,593	70,555	66,307	57,076	58,217	58,833	52,882	52,188	50,451	49,569	48,418	45,971	46,724	47,896	66,691
Gains (Losses) On Real Estate Transactions, Net Of Impairment Of Real Estate
-	-	0	1,205	-	-	30,807	0	-	-	0	-6,019	-	-1,349	0	11,358	-1,544	-	1,101	400	-	-	-2,500	-7,785	-	-	0	800	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income from operations
157,191	164,645	162,638	159,198	148,477	156,677	184,398	144,716	133,912	253,903	139,881	136,407	124,203	131,649	122,724	110,302	93,628	40,309	97,304	81,607	75,436	69,916	77,493	70,661	60,398	57,315	56,064	53,375	46,729	43,112	43,484	37,875	32,770	34,379	31,215	25,852	24,030	23,585	23,561	22,806	20,863	23,217	2,374
Interest expense
44,358	44,810	46,908	47,448	47,360	48,197	45,926	43,347	40,966	40,319	39,766	37,456	35,970	35,824	33,494	32,802	31,359	30,629	20,811	22,811	21,431	20,393	20,681	20,658	19,598	19,638	16,264	18,362	17,366	19,502	18,423	15,854	18,071	17,870	16,756	16,261	16,414	14,907	15,702	16,233	17,274	17,697	15,816
Loss on extinguishment of debt related to portfolio acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-9,153	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,093
Non-cash interest expense related to amortization of discount on equity component of exchangeable senior notes
1,209	1,209	1,186	1,185	1,162	1,162	1,140	1,176	1,209	1,276	1,268	1,290	1,269	1,264	1,243	1,240	1,233	1,112	805	696	697	679	679	663	662	-	834	113	-	0	0	0	444	453	440	440	428	428	416	416	404	430	563
Interest income
1,674	1,562	2,799	1,718	1,388	1,295	1,371	1,188	1,438	1,535	1,401	1,485	2,315	6,301	1,358	1,625	1,714	1,821	356	428	856	440	186	712	269	230	202	133	184	632	461	448	275	471	185	189	182	184	178	211	325	245	321
Interest income on note receivable from Preferred Operating Partnership unit holder
-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,213	1,212	1,213	1,212	1,213	1,212	1,213	1,212	1,213	1,212	1,213	1,212	1,213	1,212	1,213	1,212	1,213	1,212	1,213	1,212	1,213	1,212	1,213	1,212	1,213	1,212	1,213	1,213	1,212
Income before equity in earnings of unconsolidated real estate entities and income tax expense
113,298	120,188	117,343	112,283	101,343	108,613	138,703	101,381	93,175	219,862	100,248	93,127	89,279	87,410	90,558	90,455	62,419	11,601	78,358	60,140	55,377	48,772	55,032	43,479	41,620	38,822	31,228	37,045	30,760	25,454	26,735	23,681	15,743	17,739	15,417	10,552	8,583	9,646	8,834	7,580	4,723	6,548	-7,379
Equity in earnings and dividend income from unconsolidated real estate entities
5,043	2,819	2,704	3,121	2,630	3,804	3,622	3,429	3,597	3,924	3,990	3,838	3,579	3,082	3,625	3,358	2,830	3,297	3,403	3,001	2,650	2,741	2,777	2,604	2,419	2,711	3,405	2,914	2,623	3,011	2,854	2,698	2,296	1,227	1,873	2,376	1,811	1,957	1,736	1,559	1,501	1,752	1,641
Gain (Loss) On Sale Of Real Estate Assets And Purchase Of Partners Interests
-	-	-	-	-	-	-	-	-	-	-	-	-	4,767	37,509	0	26,923	0	0	0	2,857	-	378	3,438	-	43,476	0	0	2,556	11,581	13,620	0	5,429	-	-	-	-	-	-	-	-	-	-
Income tax expense
2,179	2,728	4,052	2,715	1,813	3,167	2,638	2,097	1,342	-5,529	3,163	2,867	3,124	4,843	4,466	3,773	2,765	3,154	3,561	2,185	2,248	2,233	-1,006	3,513	2,830	2,837	2,281	2,858	2,008	1,173	1,656	1,634	950	552	-62	411	254	815	1,088	1,214	1,045	726	943
Net income
116,162	120,279	115,995	112,689	102,160	109,250	139,687	102,713	95,430	229,315	101,075	94,098	89,734	90,416	127,226	90,040	89,407	11,744	78,200	60,956	58,636	49,486	59,193	46,008	41,209	82,172	32,352	37,101	33,931	38,873	41,553	24,745	22,518	18,414	17,352	12,517	10,140	10,788	9,482	7,925	5,179	7,574	-6,681
Net income allocated to Preferred Operating Partnership noncontrolling interests
3,111	3,113	3,088	3,128	3,163	3,390	3,723	3,492	3,390	4,214	3,394	3,430	3,951	3,942	4,144	3,434	3,180	2,673	3,112	3,007	2,926	2,710	2,977	2,812	2,492	2,511	2,033	1,745	1,717	1,768	1,805	1,654	1,649	1,607	1,598	1,552	1,532	1,538	1,524	1,507	1,479	1,506	1,369
Net income allocated to Operating Partnership and other noncontrolling interests
4,872	4,884	4,820	4,733	4,227	4,398	5,546	4,068	3,784	9,140	3,917	3,662	3,501	4,071	4,994	3,562	3,635	396	3,370	2,610	1,968	1,654	1,988	1,531	1,377	2,721	1,074	890	789	1,029	1,142	678	655	529	493	356	307	334	291	238	132	101	-509
Net income attributable to common stockholders
108,179	112,282	108,087	104,828	94,770	101,462	130,418	95,153	88,256	215,961	93,764	87,006	82,282	82,403	118,088	83,044	82,592	8,675	71,718	55,339	53,742	45,122	54,228	41,665	37,340	76,940	29,245	34,466	31,425	36,076	38,606	22,413	20,214	16,278	15,261	10,609	8,301	8,916	7,667	6,180	3,568	5,967	-7,541
Earnings per common share
Basic (in dollars per share)
0.84	0.87	0.84	0.82	0.74	0.81	1.03	0.75	0.70	1.71	0.74	0.69	0.65	0.66	0.94	0.66	0.66	0.07	0.58	0.47	0.46	0.39	0.47	0.36	0.32	0.69	0.26	0.31	0.28	0.35	0.37	0.22	0.21	0.18	0.16	0.12	0.09	0.10	0.09	0.07	0.04	0.07	-0.09
Diluted (in dollars per share)
0.83	0.86	0.83	0.81	0.74	0.80	1.02	0.75	0.70	1.69	0.74	0.69	0.64	0.66	0.93	0.66	0.66	0.05	0.58	0.47	0.46	0.38	0.47	0.36	0.32	0.68	0.26	0.31	0.28	0.34	0.37	0.22	0.21	0.17	0.16	0.12	0.09	0.10	0.09	0.07	0.04	0.07	-0.09
Weighted average number of shares
Basic (in shares)
129,288	129,415	128,776	127,585	127,037	126,236	126,466	125,874	125,772	126,875	125,717	125,673	125,605	124,929	125,752	124,914	124,754	123,642	122,644	116,861	116,117	116,036	115,726	115,653	115,438	113,523	110,827	110,731	110,314	105,817	104,252	102,107	94,888	91,405	94,314	91,439	88,045	87,570	87,484	87,367	86,873	86,437	86,397
Diluted (in shares)
137,139	138,472	137,318	135,654	134,289	132,940	134,240	132,772	132,682	138,176	133,044	132,783	132,618	106,046	133,763	132,025	131,956	130,205	130,398	124,475	122,595	121,806	121,617	121,254	121,062	108,013	115,477	113,962	114,967	99,732	108,755	106,653	99,927	86,843	98,867	96,010	92,812	92,041	92,189	92,304	91,666	91,548	91,607
Cash dividends paid per common share (in dollars per share)
0.90	-	0.90	0.90	0.86	-	0.86	0.86	0.78	-	0.78	0.78	0.78	-	0.78	0.78	0.59	-	0.59	0.59	0.47	-	0.47	0.47	0.40	-	0.40	0.40	0.25	-	0.20	0.20	0.20	-	0.14	0.14	0.14	-	0.10	0.10	0.10	-	-