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Segment Information
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Segment Information Segment Information
Our operating segments reflect the significant components of our operations where discrete financial information is evaluated separately by our chief operating decision maker.
Self-Storage Operations
The Self-Storage Operations reportable segment reflects the aggregated rental operations from the self-storage facilities we own from (i) Same Store Facilities, (ii) Acquired Facilities, (iii) Developed and Expanded Facilities, and (iv) Other Non-Same Store Facilities. The presentation in the table below sets forth the Net Operating Income (“NOI”) of this reportable segment, as well as the related depreciation expense. For all periods presented, substantially all of our real estate facilities, goodwill and other intangible assets, other assets, and accrued and other liabilities are associated with the Self-Storage Operations reportable segment.
Ancillary Operations
The Ancillary Operations reflects the combined operations of our tenant reinsurance, merchandise sales, and third party property management operating segments.
Presentation of Segment Information
The following table reconciles NOI and net income attributable to our reportable segment to our consolidated net income:
For the Years Ended December 31,
 202220212020
 (amounts in thousands)
Self-Storage Operations Reportable Segment
Revenue$3,946,028 $3,203,566 $2,721,630 
Cost of operations(980,209)(852,030)(807,543)
   Net operating income2,965,819 2,351,536 1,914,087 
Depreciation and amortization(888,146)(713,428)(553,257)
   Net income2,077,673 1,638,108 1,360,830 
Ancillary Operations
Revenue236,135 212,258 193,438 
Cost of operations(72,698)(68,568)(59,919)
   Net operating income163,437 143,690 133,519 
    Total net income allocated to segments2,241,110 1,781,798 1,494,349 
Other items not allocated to segments:
General and administrative(114,742)(101,254)(83,199)
Interest and other income40,567 12,306 22,323 
Interest expense(136,319)(90,774)(56,283)
Equity in earnings of unconsolidated real estate entities106,981 232,093 80,497 
Foreign currency exchange gain (loss)98,314 111,787 (97,953)
Gain on sale of real estate1,503 13,683 1,493 
Gain on sale of equity investment in PS Business Parks, Inc.2,128,860 — — 
     Net income$4,366,274 $1,959,639 $1,361,227