Public Storage 2003 Annual Report Download - page 81

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PUBLIC STORAGE, INC.
CONSOLIDATED BALANCE SHEETS
December 31, 2003 and 2002
(amounts in thousands, except share data)
See accompanying notes.
F-2
December 31,
2003
December 31,
2002
ASSETS
Cash and cash equivalents ............................................................................................... $ 204,833 $ 103,124
Real estate facilities, at cost:
Land............................................................................................................................. 1,332,882 1,304,881
Buildings...................................................................................................................... 3,792,616 3,683,645
5,125,498 4,988,526
Accumulated depreciation............................................................................................ (1,153,059) (987,546)
3,972,439 4,000,980
Construction in process................................................................................................ 69,620 87,516
Land held for development .......................................................................................... 12,236 17,807
4,054,295 4,106,303
Investment in real estate entities ...................................................................................... 336,696 329,679
Goodwill .......................................................................................................................... 78,204 78,204
Intangible assets, net........................................................................................................ 111,289 117,893
Notes receivable, primarily due from related parties ....................................................... 100,510 24,324
Other assets...................................................................................................................... 82,242 84,135
Total assets............................................................................................... $ 4,968,069 $ 4,843,662
LIABILITIES AND SHAREHOLDERS EQUITY
Notes payable................................................................................................................... $ 76,030 $ 115,867
Preferred stock called for redemption .............................................................................. 115,000 -
Accrued and other liabilities ............................................................................................ 131,103 129,327
Total liabilities ................................................................................................. 322,133 245,194
Minority interest:
Preferred partnership interests...................................................................................... 285,000 285,000
Other partnership interests ........................................................................................... 141,137 154,499
Commitments and contingencies
Shareholders equity:
Cumulative Preferred Stock, $0.01 par value, 50,000,000 shares authorized,
5,763,986 shares issued (in series) and outstanding, (9,258,486 at December 31,
2002) at liquidation preference ................................................................................
1,867,025
1,817,025
Common Stock, $0.10 par value, 200,000,000 shares authorized, 126,986,734 shares
issued and outstanding (116,991,455 at December 31, 2002)..................................
12,699
11,699
Equity Stock, Series A, $0.01 par value, 200,000,000 shares authorized, 8,776.102
shares issued and outstanding ..................................................................................
-
-
Class B Common Stock, $0.10 par value, 7,000,000 shares authorized, no shares issued
and outstanding (7,000,000 at December 31, 2002) ................................................
-
700
Paid-in capital .............................................................................................................. 2,438,632 2,371,194
Cumulative net income ................................................................................................ 2,366,660 2,030,007
Cumulative distributions paid ...................................................................................... (2,465,217) (2,071,656)
Total shareholders equity................................................................................ 4,219,799 4,158,969
Total liabilities and shareholders equity.................................................. $ 4,968,069 $ 4,843,662