Public Storage 2003 Annual Report Download - page 115
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PUBLIC STORAGE, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2003
F-36
Measurement of segment assets
No segment data relative to assets or liabilities is presented, because management does not consider the
historical cost of the Companys real estate facilities and investments in real estate entities in evaluating the
performance of operating management or in evaluating alternative courses of action. The only other types of
assets that might be allocated to individual segments are trade receivables, payables, and other assets which
arise in the ordinary course of business, but they are also not a significant factor in the measurement of segment
performance.
Presentation of segment information
Our income statement provides most of the information required in order to determine the performance
of each of the Companys three segments. The following tables reconcile the performance of each segment, in
terms of segment revenues and segment income, to our consolidated revenues and net income. It further
provides detail of the segment components of the income statement item, Equity in earnings of real estate
entities.
The following table reconciles revenue by segment to the Companys consolidated revenues:
Reconciliation of Revenues by Segment Years Ended December 31, Years Ended December 31,
2003 2002 Change 2002 2001 Change
(amounts in thousands)
Self-storage facility rentals .................... $ 798,584 $ 761,446 $ 37,138 $ 761,446 $ 719,765 $ 41,681
Commercial property rentals.................. 11,442 11,781 (339) 11,781 12,070 (289)
Containerized storage rentals................. 33,953 29,723 4,230 29,723 28,474 1,249
Tenant re-insurance premiums............... 22,464 19,947 2,517 19,947 - 19,947
Interest and other income (not allocated
to segments)........................................ 8,628 8,661 (33)
8,661 14,225 (5,564)
Total revenues ................................ $ 875,071 $ 831,558 $ 43,513 $ 831,558 $ 774,534 $ 57,024