CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
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| Revenues: | ||||
| Revenues | $ 1,201,094 | $ 1,173,211 | $ 2,384,278 | $ 2,330,431 |
| Expenses: | ||||
| Depreciation and amortization | 283,216 | 283,342 | 565,931 | 568,545 |
| Real estate acquisition and development expense | 2,538 | 2,907 | 9,961 | 6,624 |
| General and administrative | 25,727 | 26,580 | 50,911 | 47,916 |
| Interest expense | 71,609 | 73,236 | 143,618 | 141,014 |
| Operating expenses | 701,095 | 687,109 | 1,420,273 | 1,389,626 |
| Other increases (decreases) to net income: | ||||
| Interest and other income | 12,789 | 18,253 | 26,023 | 32,219 |
| Equity in (loss) earnings of unconsolidated real estate entities | (2,230) | 6,480 | 1,397 | 12,570 |
| Foreign currency exchange (loss) gain | (146,070) | 12,449 | (214,765) | 49,992 |
| Gain on sale of real estate | 163 | 0 | 208 | 874 |
| Income before income tax expense | 364,651 | 523,284 | 776,868 | 1,036,460 |
| Income tax expense | (3,240) | (2,075) | (4,666) | (3,554) |
| Net income | 361,411 | 521,209 | 772,202 | 1,032,906 |
| Allocation to noncontrolling interests | (2,992) | (3,082) | (5,992) | (5,831) |
| Net income allocable to Public Storage shareholders | 358,419 | 518,127 | 766,210 | 1,027,075 |
| Allocation of net income to: | ||||
| Preferred shareholders | (48,673) | (48,673) | (97,351) | (97,351) |
| Restricted share units and unvested LTIP units | (778) | (1,088) | (1,661) | (2,149) |
| Net income allocable to common shareholders | $ 308,968 | $ 468,366 | $ 667,198 | $ 927,575 |
| Net income per common share: | ||||
| Basic (in USD per share) | $ 1.76 | $ 2.67 | $ 3.80 | $ 5.28 |
| Diluted (in USD per share) | $ 1.76 | $ 2.66 | $ 3.79 | $ 5.26 |
| Basic weighted average common shares outstanding (in shares) | 175,442 | 175,469 | 175,431 | 175,585 |
| Diluted weighted average common shares outstanding (in shares) | 175,921 | 176,009 | 175,932 | 176,180 |
| Self-storage facilities | ||||
| Revenues: | ||||
| Revenues | $ 1,118,658 | $ 1,099,736 | $ 2,221,656 | $ 2,185,781 |
| Expenses: | ||||
| Self-storage cost of operations | 284,717 | 273,501 | 585,871 | 570,915 |
| Ancillary operations | ||||
| Revenues: | ||||
| Revenues | 82,436 | 73,475 | 162,622 | 144,650 |
| Expenses: | ||||
| Ancillary cost of operations | $ 33,288 | $ 27,543 | $ 63,981 | $ 54,612 |
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- Definition Income allocation to holders of restricted share units. No definition available.
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- Definition Real Estate Acquisition And Development Expense No definition available.
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of expense incurred and directly related to generating revenue by lessor from operating lease of rented property and equipment. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, before tax, of realized and unrealized gain (loss) from foreign currency transaction. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The net gain (loss) resulting from sales and other disposals of real estate owned for investment purposes. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The amount of interest income and other income recognized during the period. Included in this element is interest derived from investments in debt securities, cash and cash equivalents, and other investments which reflect the time value of money or transactions in which the payments are for the use or forbearance of money and other income from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business). No definition available.
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- Definition Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Other costs incurred during the reporting period related to other revenue generating activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders. No definition available.
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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