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Segment Information (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Schedule 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

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-25

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

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No definition available.

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