XML 33 R22.htm IDEA: XBRL DOCUMENT
v3.23.3

Segment Information | 9 Months Ended
--- | ---
Sep. 30, 2023
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:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022 |  |
| (amounts in thousands)
Self-Storage Operations Reportable Segment |  |  |  |  |  |  |  |  |
Revenue | $ | 1,078,721 |  |  | $ | 1,027,374 |  |  | $ | 3,167,025 |  |  | $ | 2,917,675 |  |  |
Cost of operations | (267,785) |  |  | (255,470) |  |  | (794,078) |  |  | (738,953) |  |  |
Net operating income | 810,936 |  |  | 771,904 |  |  | 2,372,947 |  |  | 2,178,722 |  |  |
Depreciation and amortization | (238,748) |  |  | (220,772) |  |  | (682,531) |  |  | (661,608) |  |  |
Net income | 572,188 |  |  | 551,132 |  |  | 1,690,416 |  |  | 1,517,114 |  |  |
Ancillary Operations |  |  |  |  |  |  |  |  |
Revenue | 65,099 |  |  | 60,757 |  |  | 190,797 |  |  | 175,946 |  |  |
Cost of operations | (21,159) |  |  | (21,572) |  |  | (63,037) |  |  | (54,297) |  |  |
Net operating income | 43,940 |  |  | 39,185 |  |  | 127,760 |  |  | 121,649 |  |  |
Total net income allocated to segments | 616,128 |  |  | 590,317 |  |  | 1,818,176 |  |  | 1,638,763 |  |  |
Other items not allocated to segments: |  |  |  |  |  |  |  |  |
General and administrative | (28,625) |  |  | (29,501) |  |  | (79,603) |  |  | (81,401) |  |  |
Interest and other income | 32,295 |  |  | 12,736 |  |  | 69,381 |  |  | 26,394 |  |  |
Interest expense | (58,350) |  |  | (34,113) |  |  | (132,530) |  |  | (100,178) |  |  |
Equity in earnings of unconsolidated real estate entities | 7,227 |  |  | 8,180 |  |  | 22,787 |  |  | 100,129 |  |  |
Foreign currency exchange gain | 47,880 |  |  | 100,170 |  |  | 19,924 |  |  | 237,270 |  |  |
Gain on sale of real estate | 88 |  |  | 1,503 |  |  | 88 |  |  | 1,503 |  |  |
Gain on sale of equity investment in PS Business Parks, Inc. | — |  |  | 2,128,860 |  |  | — |  |  | 2,128,860 |  |  |
Net income | $ | 616,643 |  |  | $ | 2,778,152 |  |  | $ | 1,718,223 |  |  | $ | 3,951,340 |  |  |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration