EXTRA SPACE STORAGE INC. EXR Income Statement

Extra space storage inc. (EXR)

Income statement / TTM

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
1,145,877	1,130,177	1,108,102	1,083,913	1,062,457	1,039,340	1,019,093	1,000,954	983,622	967,229	949,890	925,752	896,747	864,742	831,402	777,499	726,732	676,138	624,886	599,007	576,761	559,868	537,986	507,198	475,760	446,682	421,825	402,009	373,953	346,874	322,653	298,063	283,079	268,725	255,451	245,308	237,794	232,447	232,641	232,014	0	0	0
Tenant reinsurance
132,203	128,387	124,933	121,450	118,270	115,507	111,011	106,788	102,580	98,401	95,405	92,250	89,591	87,291	84,831	80,330	76,016	71,971	67,792	64,951	62,119	59,072	56,048	52,957	50,559	47,317	44,381	41,582	38,480	36,816	35,352	34,126	32,714	31,181	29,791	28,318	27,060	25,928	24,568	22,857	0	0	0
Management fees and other income
51,280	49,890	46,971	44,091	41,938	41,757	40,989	40,554	41,284	39,379	38,888	39,208	39,142	39,842	40,385	39,103	35,771	34,161	28,610	28,900	28,842	28,215	30,278	28,201	27,559	26,614	26,140	25,435	25,298	25,706	30,936	31,058	30,543	29,924	24,530	24,028	23,537	23,122	22,247	21,671	0	0	0
Total revenues
1,329,360	1,308,454	1,280,006	1,249,454	1,222,665	1,196,604	1,171,093	1,148,296	1,127,486	1,105,009	1,084,183	1,057,210	1,025,480	991,875	956,618	896,932	838,519	782,270	721,288	692,858	667,722	647,155	624,312	588,356	553,878	520,613	492,346	469,026	437,731	409,396	388,941	363,247	346,336	329,830	309,772	297,654	288,391	281,497	279,456	276,542	0	0	0
Expenses:
Property operations
347,582	336,050	320,495	305,494	297,707	291,695	287,092	283,870	278,082	271,974	268,492	260,403	255,538	250,005	245,517	232,054	217,833	203,965	187,677	182,093	176,178	172,416	166,807	157,889	149,057	140,012	133,580	129,319	121,869	114,028	107,878	102,033	98,733	95,481	92,260	89,324	87,553	86,165	87,253	87,486	0	0	0
Tenant reinsurance
29,087	29,376	28,502	28,578	27,067	25,707	23,975	22,527	20,860	19,173	17,206	15,027	15,164	15,555	15,559	15,074	14,416	13,033	12,113	11,435	10,788	10,427	10,170	10,113	9,679	9,022	10,203	8,709	7,931	7,869	6,201	6,418	6,376	6,143	6,682	6,822	6,897	6,505	5,680	5,415	0	0	0
Acquisition related costs and other
-	-	-	-	-	-	-	-	-	-	-	-	-	12,111	72,822	71,169	72,585	69,401	11,644	11,800	8,639	9,826	8,941	10,932	10,222	8,618	5,349	5,408	5,194	5,351	4,295	2,155	3,256	2,896	2,977	2,842	1,414	1,235	445	19,035	0	0	0
Loss on sublease
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Severance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
General and administrative
89,751	89,418	86,982	84,170	82,470	81,256	81,612	81,403	81,617	78,961	78,526	78,565	77,212	81,806	81,589	78,768	74,911	67,758	63,719	62,668	61,482	60,942	60,638	58,916	57,186	54,246	53,161	51,777	50,583	50,454	51,031	50,778	50,665	49,683	47,921	46,233	45,030	44,428	42,694	42,688	0	0	0
Depreciation and amortization
220,473	219,857	218,242	214,474	211,960	209,050	205,081	200,873	195,613	193,296	193,297	191,777	189,095	182,560	174,168	158,324	145,926	133,457	121,872	120,410	117,129	115,076	111,889	106,068	100,582	95,232	90,773	87,113	80,954	74,453	68,891	63,487	60,953	58,014	55,250	53,405	51,515	50,349	50,937	51,258	0	0	0
Total expenses
686,893	674,701	654,221	632,716	619,204	607,708	597,760	588,673	576,172	563,404	560,508	550,692	545,067	542,037	589,655	555,389	525,671	487,614	397,025	388,406	374,216	368,687	358,445	343,918	326,726	307,130	293,066	282,326	266,531	252,155	240,433	227,008	222,120	214,354	205,090	200,626	194,409	190,682	189,009	207,282	0	0	0
Gains (Losses) On Real Estate Transactions, Net Of Impairment Of Real Estate
-	-	0	0	-	-	0	0	-	-	0	0	-	8,465	10,915	11,315	0	-	0	0	-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income from operations
643,672	634,958	626,990	648,750	634,268	619,703	716,929	672,412	664,103	654,394	532,140	514,983	488,878	458,303	366,963	341,543	312,848	294,656	324,263	304,452	293,506	278,468	265,867	244,438	227,152	213,483	199,280	186,700	171,200	157,241	148,508	136,239	124,216	115,476	104,682	97,028	93,982	90,815	90,447	69,260	0	0	0
Interest expense
183,524	186,526	189,913	188,931	184,830	178,436	170,558	164,398	158,507	153,511	149,016	142,744	138,090	133,479	128,284	115,601	105,610	95,682	85,446	85,316	83,163	81,330	80,575	76,158	73,862	71,630	71,494	73,653	71,145	71,850	70,218	68,551	68,958	67,301	64,338	63,284	63,256	64,116	66,906	67,020	0	0	0
Loss on extinguishment of debt related to portfolio acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Non-cash interest expense related to amortization of discount on equity component of exchangeable senior notes
4,789	4,742	4,695	4,649	4,640	4,687	4,801	4,929	5,043	5,103	5,091	5,066	5,016	4,980	4,828	4,390	3,846	3,310	2,877	2,751	2,718	2,683	2,838	2,272	0	-	0	0	-	444	897	1,337	1,777	1,761	1,736	1,712	1,688	1,664	1,666	1,813	0	0	0
Interest income
7,753	7,467	7,200	5,772	5,242	5,292	5,532	5,562	5,859	6,736	11,502	11,459	11,599	10,998	6,518	5,516	4,319	3,461	2,080	1,910	2,194	1,607	1,397	1,413	834	749	1,151	1,410	1,725	1,816	1,655	1,379	1,120	1,027	740	733	755	898	959	1,102	0	0	0
Interest income on note receivable from Preferred Operating Partnership unit holder
-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,850	4,850	4,850	4,850	4,850	4,850	4,850	4,850	4,850	4,850	4,850	4,850	4,850	4,850	4,850	4,850	4,850	4,850	4,850	4,850	4,850	4,850	4,850	4,850	4,851	4,850	0	0	0
Income before equity in earnings of unconsolidated real estate entities and income tax expense
463,112	451,157	439,582	460,942	450,040	441,872	553,121	514,666	506,412	502,516	370,064	360,374	357,702	330,842	255,033	242,833	212,518	205,476	242,647	219,321	202,660	188,903	178,953	155,149	148,715	137,855	124,487	119,994	106,630	91,613	83,898	72,580	59,451	52,291	44,198	37,615	34,643	30,783	27,685	11,472	0	0	0
Equity in earnings and dividend income from unconsolidated real estate entities
13,687	11,274	12,259	13,177	13,485	14,452	14,572	14,940	15,349	15,331	14,489	14,124	13,644	12,895	13,110	12,888	12,531	12,351	11,795	11,169	10,772	10,541	10,511	11,139	11,449	11,653	11,953	11,402	11,186	10,859	9,075	8,094	7,772	7,287	8,017	7,880	7,063	6,753	6,548	6,453	0	0	0
Gain (Loss) On Sale Of Real Estate Assets And Purchase Of Partners Interests
-	-	-	-	-	-	-	-	-	-	-	-	-	69,199	64,432	26,923	26,923	2,857	3,235	6,673	0	-	0	0	-	46,032	14,137	27,757	27,757	30,630	0	0	0	-	-	-	-	-	-	-	-	-	-
Income tax expense
11,674	11,308	11,747	10,333	9,715	9,244	548	1,073	1,843	3,625	13,997	15,300	16,206	15,847	14,158	13,253	11,665	11,148	10,227	5,660	6,988	7,570	8,174	11,461	10,806	9,984	8,320	7,695	6,471	5,413	4,792	3,074	1,851	1,155	1,418	2,568	3,371	4,162	4,073	3,928	0	0	0
Net income
465,125	451,123	440,094	463,786	453,810	447,080	567,145	528,533	519,918	514,222	375,323	401,474	397,416	397,089	318,417	269,391	240,307	209,536	247,278	228,271	213,323	195,896	228,582	201,741	192,834	185,556	142,257	151,458	139,102	127,689	107,230	83,029	70,801	58,423	50,797	42,927	38,335	33,374	30,160	13,997	0	0	0
Net income allocated to Preferred Operating Partnership noncontrolling interests
12,440	12,492	12,769	13,404	13,768	13,995	14,819	14,490	14,428	14,989	14,717	15,467	15,471	14,700	13,431	12,399	11,972	11,718	11,755	11,620	11,425	10,991	10,792	9,848	8,781	8,006	7,263	7,035	6,944	6,876	6,715	6,508	6,406	6,289	6,220	6,146	6,101	6,048	6,016	5,861	0	0	0
Net income allocated to Operating Partnership and other noncontrolling interests
19,309	18,664	18,178	18,904	18,239	17,796	22,538	20,909	20,503	20,220	15,151	16,228	16,128	16,262	12,587	10,963	10,011	8,344	9,602	8,220	7,141	6,550	7,617	6,703	6,062	5,474	3,782	3,850	3,638	3,504	3,004	2,355	2,033	1,685	1,490	1,288	1,170	995	762	-38	0	0	0
Net income attributable to common stockholders
433,376	419,967	409,147	431,478	421,803	415,289	529,788	493,134	484,987	479,013	345,455	369,779	365,817	366,127	292,399	246,029	218,324	189,474	225,921	208,431	194,757	178,355	210,173	185,190	177,991	172,076	131,212	140,573	128,520	117,309	97,511	74,166	62,362	50,449	43,087	35,493	31,064	26,331	23,382	8,174	0	0	0
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	-	-