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PUBLIC STORAGE
CONSOLIDATED STATEMENTS OF EQUITY
For each of the three years in the period ended December 31, 2010
(Amounts in thousands, except share and per share amounts)
See accompanying notes.
F-4
Cumulative
Accumulated
Other
Total
Public Storage
Equity of
Permanent
Noncontrolling
Preferred
Common
Paid-in
Accumulated
Comprehensive
Shareholders’
Interests in
Total
Shares
Shares
Capital
Deficit
Income (Loss)
Equity
Subsidiaries
Equity
Balances at December 31, 2007 .................................................
$ 3,527,500
$ 16,943
$ 5,653,975
$ (485,354)
$ 50,065
$ 8,763,129
$ 500,127
$ 9,263,256
Repurchase of cumulative preferred shares (852,378
shares) (Note 8) ...................................................................
(103,173)
-
36,294
-
-
(66,879)
-
(66,879)
Repurchase of Equity Shares, Series A
(367,000 shares) (Note 8) ................................................
-
-
(7,707)
-
-
(7,707)
-
(7,707)
Issuance of common shares in connection with share-
based compensation (377,453 shares) (Note 10) .................
-
38
10,852
-
-
10,890
-
10,890
Repurchase of common shares (1,520,196 shares) (Note 8)
-
(152)
(111,751)
-
-
(111,903)
-
(111,903)
Share-based compensation expense, net of cash
compensation in lieu of common shares (Note 10) .............
-
-
8,430
-
-
8,430
-
8,430
Adjustments of redeemable noncontrolling interests in
subsidiaries to liquidation value (Note 7) ............................
-
-
-
(6,469)
-
(6,469)
-
(6,469)
Deconsolidation of permanent noncontrolling interests in
subsidiaries due to disposition of an interest (Note 7) .........
-
-
-
-
-
-
(148,901)
(148,901)
Net income ..............................................................................
-
-
-
973,872
-
973,872
-
973,872
Net income to (Note 7):
Redeemable noncontrolling interests in subsidiaries...........
-
-
-
(1,083)
-
(1,083)
-
(1,083)
Permanent noncontrolling equity interests ..........................
-
-
-
(37,613)
-
(37,613)
37,613
-
Distributions to equity holders:
Cumulative preferred shares (Note 8) .................................
-
-
-
(239,721)
-
(239,721)
-
(239,721)
Permanent noncontrolling interests in subsidiaries .............
-
-
-
-
-
-
(37,993)
(37,993)
Equity Shares, Series A ($2.45 per depositary share) .........
-
-
-
(21,199)
-
(21,199)
-
(21,199)
Holders of unvested restricted share units ...........................
-
-
-
(1,933)
-
(1,933)
-
(1,933)
Common shares ($2.80 per share).......................................
-
-
-
(470,823)
-
(470,823)
-
(470,823)
Other comprehensive loss (Note 2)..........................................
-
-
-
-
(81,996)
(81,996)
7,263
(74,733)
Balances at December 31, 2008 .................................................
3,424,327
16,829
5,590,093
(290,323)
(31,931)
8,708,995
358,109
9,067,104
Repurchase of cumulative preferred shares (982,000 shares)
(Note 8) ...............................................................................
(24,550)
-
7,015
-
-
(17,535)
-
(17,535)
Repurchase of preferred partnership units (Note 7) .................
-
-
72,000
-
-
72,000
(225,000)
(153,000)
Issuance of common shares in connection with share-based
compensation (125,807 shares) (Note 10) ..........................
-
13
2,179
-
-
2,192
-
2,192
Share-based compensation expense, net of cash
compensation in lieu of common shares (Note 10) .............
-
-
9,262
-
-
9,262
-
9,262
Adjustments of redeemable noncontrolling interests in
subsidiaries to liquidation value (Note 7) ............................
-
-
-
(1,392)
-
(1,392)
-
(1,392)
Net income ..............................................................................
-
-
-
790,456
-
790,456
-
790,456
Net income allocated to (Note 7):
Redeemable noncontrolling interests in subsidiaries ...........
-
-
-
(993)
-
(993)
-
(993)
Permanent noncontrolling equity interests ..........................
-
-
-
(26,842)
-
(26,842)
26,842
-
Distributions to equity holders:
Cumulative preferred shares (Note 8) .................................
-
-
-
(232,431)
-
(232,431)
-
(232,431)
Permanent noncontrolling interests in subsidiaries .............
-
-
-
-
-
-
(26,977)
(26,977)
Equity Shares, Series A ($2.45 per depositary share) ..........
-
-
-
(20,524)
-
(20,524)
-
(20,524)
Holders of unvested restricted share units ...........................
-
-
-
(1,306)
-
(1,306)
-
(1,306)