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PUBLIC STORAGE
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2010
F-32
For the year ended December 31, 2009
Domestic
Self-Storage
Europe
Self-Storage
Commercial
Other Items
Not Allocated to
Segments
Total
Consolidated
(Amounts in thousands)
Revenues:
Self-storage facilities .............................................
.
$ 1,487,295 $ -
$ -
$ - $ 1,487,295
Ancillary operations ...............................................
.
- -
14,982
92,615 107,597
Interest and other income .......................................
.
-24,832
-
4,981 29,813
1,487,295 24,832
14,982
97,596 1,624,705
Expenses:
Cost of operations:
Self-storage facilities ........................................
.
485,695 -
-
- 485,695
Ancillary operations .........................................
.
- -
5,759
30,252 36,011
Depreciation and amortization................................
.
336,808 -
2,958
- 339,766
General and administrative .....................................
.
- -
-
35,735 35,735
Interest expense ......................................................
.
- -
-
29,916 29,916
822,503 -
8,717
95,903 927,123
Income from continuing operations before equity
in earnings of real estate entities, foreign
currency exchange gain, gains on disposition of
other real estate investments, net and gain on
early retirement of debt ..........................................
.
664,792 24,832
6,265
1,693 697,582
Equity in earnings of real estate entities .....................
.
1,867 16,269
35,108
- 53,244
Foreign currency exchange gain ................................
.
- 9,662
-
- 9,662
Gains on disposition of other real estate
investments, net......................................................
.
--
30,293
3,133 33,426
Gain on early retirement debt .....................................
.
- -
-
4,114 4,114
Income from continuing operations ...........................
.
666,659 50,763
71,666
8,940 798,028
Discontinued operations .............................................
.
- -
-
(7,572) (7,572)
Net income .................................................................
.
$ 666,659 $ 50,763
$ 71,666
$ 1,368 $ 790,456