Public Storage PSA Income Statement

Public storage (PSA)

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	Dec'09	Sep'09	Jun'09	Mar'09	Sep'08	Jun'08
Revenues:
Revenues
716,082	717,499	729,336	710,950	689,038	692,460	706,368	685,528	669,924	672,308	686,361	664,312	645,547	651,427	663,148	634,188	611,786	609,330	618,872	588,615	564,879	552,545	567,090	538,037	519,624	496,707	511,957	485,378	470,900	469,694	477,182	455,793	439,835	436,215	445,563	434,419	419,691	386,390	422,295	407,645	397,447	400,118	412,087	406,475	404,240	431,169	418,494
Expenses:
Self-storage cost of operations
207,925	162,471	200,369	196,083	193,656	150,031	183,637	179,876	182,187	141,145	173,315	171,195	171,978	134,450	165,905	157,687	159,863	125,618	152,010	147,826	161,242	121,424	146,979	142,427	156,068	114,205	136,751	132,137	140,993	110,728	131,618	133,102	142,193	129,367	128,787	129,632	135,327	107,258	127,423	127,694	132,340	106,497	120,975	124,164	133,265	121,579	128,124
Ancillary cost of operations
10,945	10,113	11,893	11,653	10,545	10,343	11,907	11,101	10,640	10,734	17,304	11,383	10,924	10,716	12,722	14,317	13,423	12,089	12,676	13,271	10,770	8,259	11,589	8,127	18,451	4,791	11,052	10,434	9,396	9,107	9,857	9,781	9,518	9,092	9,793	9,597	8,914	8,629	7,091	9,539	8,430	8,491	7,493	10,374	9,653	3,756	12,064
Depreciation and amortization
135,900	134,885	129,233	126,859	121,941	121,374	124,516	119,777	117,979	120,100	113,320	110,177	110,929	111,741	109,432	107,013	105,128	106,307	106,082	106,473	107,146	110,573	111,077	106,443	109,021	108,927	96,537	90,937	91,001	92,586	89,897	88,474	86,824	89,539	90,821	89,098	88,511	91,066	92,583	84,879	84,717	85,644	85,670	83,639	84,492	91,084	94,829
General and administrative
21,064	20,308	16,908	15,264	19,503	28,442	27,429	31,329	31,520	20,551	22,311	14,992	25,028	20,148	22,140	18,321	23,047	19,456	23,573	20,988	24,160	19,219	17,874	15,377	18,989	16,691	17,650	14,085	18,253	12,720	15,298	12,414	16,405	11,466	14,116	12,593	14,235	9,419	8,910	10,081	10,077	9,203	8,654	8,199	9,679	8,879	33,173
Interest expense
13,621	12,647	12,597	12,254	8,143	7,953	8,094	8,388	8,107	8,137	2,389	1,116	1,048	900	1,221	1,378	711	-	-	-	-	0	1,238	2,063	3,480	1,822	478	647	3,497	4,486	4,926	5,067	5,334	5,443	5,862	5,933	6,984	7,770	7,838	7,278	7,339	7,211	7,289	7,288	8,128	9,099	9,601
Operating expenses
389,455	340,424	371,000	362,113	353,788	318,143	355,583	350,471	350,433	305,220	326,250	307,747	318,859	281,265	310,199	297,338	301,461	263,470	294,341	288,558	303,318	259,475	287,519	272,374	302,529	244,614	261,990	247,593	259,643	225,141	246,670	243,771	254,940	226,547	245,703	246,853	253,971	194,911	243,845	239,471	242,903	217,046	230,081	233,664	245,217	234,397	277,791
Asset impairment charges
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,186	-	-	-955	3,898	-1,338	-611	-	-	-	0	-	-
Net operating income
-	-	-	-	-	-	-	-	-	-	360,111	356,565	326,688	-	352,949	336,850	310,325	345,860	324,531	300,057	261,561	293,070	279,571	265,663	217,095	252,093	249,967	237,785	211,257	244,553	230,512	212,022	184,895	-	199,860	-	-	-	-	-	-	-	-	-	-	-	-
Other increase to net income:
Interest and other income
6,479	6,424	6,465	8,582	6,965	7,550	7,020	6,328	5,544	6,049	4,569	4,155	3,998	3,524	3,750	4,028	3,836	5,033	3,659	3,815	4,037	10,406	3,830	1,000	2,402	17,274	5,608	5,516	5,581	5,435	5,444	5,540	5,655	7,115	6,875	10,575	7,768	6,994	6,775	7,032	8,216	7,807	6,857	7,516	7,633	11,485	11,014
Income from continuing operations before equity in earnings of unconsolidated real estate entities, foreign currency exchange (loss) gain, and gain (loss) on real estate sales
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	187,566	165,720	-	178,450	168,174	154,544	183,072	182,006	172,811	159,023	196,772	140,703
Equity in earnings of unconsolidated real estate entities
23,968	13,916	19,045	18,914	17,672	12,966	17,771	41,963	30,795	18,420	17,218	20,068	19,949	15,128	17,237	10,227	14,164	14,670	12,603	7,480	16,184	44,962	14,566	14,135	14,604	18,566	14,269	13,101	11,643	15,233	12,642	8,596	9,115	16,949	15,269	12,770	13,716	10,560	9,043	8,788	9,961	14,211	8,824	7,398	22,811	6,318	4,632
Foreign currency exchange gain
8,900	-10,382	15,600	-5,218	7,800	5,374	2,600	21,944	-11,818	-5,548	-13,446	-25,440	-5,566	23,557	-3,665	8,632	-10,954	-	-	-	-	-12	-3,012	-1,675	-2,348	7,801	16,094	5,924	-12,737	11,357	9,019	-23,657	12,157	-20,782	-28,253	10,496	31,252	-13,672	55,455	-49,204	-34,843	-10,239	21,429	33,205	-34,733	-53,172	-2
Casualty loss
-	-	-	-	-	-	-	-	-	-	7,789	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-525	-
Gain on sale of real estate
1,117	-	-	341	-	36,078	1,401	0	424	-	-	975	-	0	0	0	689	0	343	16,688	1,472	-	1,260	1,219	-	-	168	-	-	-	193	1,263	-	5,690	4,983	-70	198	148	283	63	333	4,245	30,573	0	2,722	1,024	-92
Gain on early retirement of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	283	-	-	0	0	4,114	0	0
Income from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	272,092	252,884	198,697	206,488	218,623	192,872	210,762	210,886	189,256	242,948	126,766	129,384	187,175	242,832	213,414	153,937	150,417	145,241
Discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	471	11,935	234	234	1,814	1,641	179	-318	-46	2,863	4,410	533	514	1,119	-8,027	-508	-2,475	-1,286
Net income
367,136	387,097	399,420	371,456	367,678	587,906	379,589	405,292	344,436	390,963	358,274	355,207	344,021	415,681	369,050	358,359	317,349	365,259	341,136	328,040	283,254	348,426	294,977	278,279	228,273	297,977	285,628	261,679	212,247	272,563	264,819	198,931	206,722	220,437	194,513	210,941	210,568	189,210	245,811	131,176	129,917	187,689	243,951	205,387	153,429	147,942	143,955
Allocation to noncontrolling interests
980	1,082	1,478	1,400	1,157	1,701	1,562	1,490	1,439	1,564	1,600	1,505	1,579	1,942	1,745	1,700	1,476	1,769	1,568	1,635	1,473	1,711	1,518	1,445	1,077	1,408	1,430	1,216	1,024	1,192	927	788	870	286	3,374	4,497	4,460	17,437	6,457	6,138	-5,956	-6,551	-6,642	-6,215	-8,427	-10,611	-10,142
Based upon repurchases of preferred partnership units
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	72,000	0	0
Net income allocable to Public Storage shareholders
366,156	386,015	397,942	370,056	366,521	586,205	378,027	403,802	342,997	389,399	356,674	353,702	342,442	413,739	367,305	356,659	315,873	363,490	339,568	326,405	281,781	346,715	293,459	276,834	227,196	296,569	284,198	260,463	211,223	271,371	263,892	198,143	205,852	220,151	191,139	206,444	206,108	183,685	239,354	125,038	123,961	181,138	237,309	199,172	217,002	137,331	133,813
Allocation of net income to:
Preferred shareholders- distributions
52,000	51,679	50,000	53,500	55,000	54,035	54,100	54,100	54,081	54,078	61,055	61,281	60,121	59,548	57,178	59,216	62,272	59,031	61,062	61,449	63,555	166,708	60,763	57,672	-52,507	356,716	-51,907	-51,907	-48,590	-48,969	-49,267	-51,910	-55,095	-284,463	-56,670	58,639	57,617	-58,236	-57,522	-58,879	-58,108	-406,755	58,108	58,108	58,108	60,333	60,333
Preferred shareholders - redemptions (Note 8)
-	6,160	9,146	8,861	8,533	-	-	-	-	-	14,692	14,638	-	0	0	15,537	11,336	0	4,113	0	4,784	-	-	-	-	-	-	-	-	-12,019	-11,350	-13,427	-24,900	-	-16,178	15,899	-	-	-800	5,063	-	0	0	0	-6,218	0	0
Equity Shares, Series A - distributions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-5,131	-35,917	5,131	5,131	5,131	5,356	5,356
Equity Shares, Series A - redemptions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-25,746	-	-	-	0	-	-
Restricted share units
1,017	997	1,406	1,259	1,233	2,025	1,268	1,425	1,097	1,241	1,210	1,102	1,190	1,379	1,170	1,131	930	1,456	885	1,030	829	2,338	881	810	-637	5,908	-930	-871	-697	-840	-810	-463	-514	-2,115	-341	391	432	-426	-426	-259	-238	-3,427	577	446	486	183	146
Net income allocable to common shareholders
313,134	327,251	337,362	306,411	301,743	530,102	322,679	348,300	287,819	334,080	279,717	276,681	281,131	352,812	308,957	280,775	241,335	303,003	273,508	263,926	212,613	283,957	231,815	218,352	174,052	243,749	231,361	207,685	161,936	209,543	202,465	132,343	125,343	164,223	117,950	131,515	148,059	121,397	182,206	60,837	34,738	117,491	173,493	135,487	159,495	71,459	67,978
Net income per common share:
Continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.21	1.12	0.78	0.74	0.96	0.68	0.78	0.87	-	1.06	-	-	0.70	1.02	0.85	0.95	0.44	0.41
Discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.01	0.07	0.00	0.00	-	0.01	-	-	-	0.02	-	-	-	-	-	-	-	-
Net income allocable to common shareholders per common share:
Continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.33	0.21	-	-	-	-	-	-
Discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.03	0.00	-	0.01	-0.05	0.00	-0.01	-0.01
Basic
1.80	1.87	1.94	1.76	1.73	3.05	1.85	2.00	1.66	1.93	1.61	1.59	1.62	2.04	1.78	1.62	1.40	1.76	1.58	1.53	1.23	1.65	1.34	1.27	1.01	1.42	1.35	1.21	0.94	1.22	1.19	0.78	0.74	0.97	0.69	0.78	0.87	0.71	1.08	0.36	0.21	-	1.03	-	0.95	0.43	0.40
Continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.22	1.11	0.77	0.73	0.95	0.68	0.77	0.87	0.71	1.05	0.33	0.21	-	1.02	-	0.95	0.43	0.41
Discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	0.07	0.00	0.00	-	0.01	-	-	0.00	0.02	0.03	0.00	-	0.01	-	-	-	-
Diluted
1.79	1.87	1.93	1.76	1.73	3.04	1.85	2.00	1.65	1.91	1.61	1.59	1.62	2.03	1.78	1.61	1.39	1.74	1.58	1.52	1.23	1.64	1.34	1.26	1.01	1.41	1.34	1.20	0.94	1.22	1.18	0.77	0.73	0.96	0.69	0.77	0.87	0.71	1.07	0.36	0.21	1.64	1.03	0.80	0.00	-0.01	-0.01
Net income per common share - diluted, total
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Basic weighted average common shares outstanding
174,446	174,384	174,334	174,253	174,177	174,077	173,975	173,932	173,892	173,771	173,715	173,602	173,364	173,192	173,108	173,087	172,977	172,876	172,771	172,629	172,520	172,434	172,378	172,282	171,910	171,768	171,721	171,625	171,446	170,867	170,576	170,496	170,309	170,093	169,728	169,492	169,315	169,213	169,014	168,804	168,477	168,399	168,373	168,348	168,312	168,133	168,028
Diluted weighted average common shares outstanding
174,616	174,591	174,611	174,542	174,376	174,468	174,348	174,224	174,148	174,220	174,240	174,075	174,069	173,814	173,848	174,000	173,850	173,758	173,529	173,387	173,366	173,258	173,304	173,181	172,809	172,798	172,793	172,647	172,514	171,981	171,700	171,560	171,415	171,387	170,830	170,401	170,382	170,172	169,977	169,629	169,310	169,028	169,043	168,528	168,473	168,560	168,479
Cash dividends declared per common share
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.40	1.40	1.40	1.40	1.25	1.25	1.25	-	1.10	1.10	1.10	-	0.95	-	-	-	-	-	-	-	-	-	-	-	-
Net income per share
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Weighted average depositary shares
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,377	8,744	8,744
Self-Storage Operations [Member]
Revenues
674,201	677,027	687,778	669,339	650,408	654,248	666,616	645,206	631,537	634,218	646,238	624,199	607,778	613,698	623,157	594,387	574,586	572,884	580,976	551,028	530,637	529,221	534,271	500,803	485,587	480,664	477,978	451,576	439,665	439,077	445,169	424,060	410,559	426,286	415,552	394,953	385,008	382,855	388,932	373,536	364,073	366,455	377,430	370,853	370,772	392,738	380,770
Self-storage cost of operations
207,925	162,471	200,369	196,083	193,656	150,031	183,637	179,876	182,187	-	173,315	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
135,900	134,885	129,233	126,859	121,941	121,374	124,516	119,777	117,979	-	113,320	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net operating income
466,276	-	487,409	-	456,752	-	482,979	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income
330,376	379,671	358,176	346,397	334,811	382,843	358,463	345,553	331,371	-	359,603	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Ancillary Operations [Member]
Revenues
41,881	40,472	41,558	41,611	38,630	38,212	39,752	40,322	38,387	38,090	40,123	40,113	37,769	37,729	39,991	39,801	37,200	36,446	37,896	37,587	34,242	23,324	32,819	37,234	34,037	16,043	33,979	33,802	31,235	30,617	32,013	31,733	29,276	28,272	30,011	28,891	26,915	25,558	26,588	27,077	25,158	25,856	27,800	28,106	25,835	26,946	26,710
Ancillary cost of operations
10,945	10,113	11,893	11,653	10,545	10,343	11,907	11,101	10,640	-	17,304	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net operating income
30,936	30,359	29,665	29,958	28,085	27,869	27,845	29,221	27,747	-	22,819	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-