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13
Public Storage, Inc. 1997 Annual Report
(In thousands) 1997 1996 1995
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Investing Activities:
Acquisition of real estate facilities in exchange for minority interests,
common stock, the assumption of mortgage notes payable,
the cancellation of mortgage notes receivable and
the reduction of investment in real estate entities $(119,279) $ (4,292) $ (87,941)
Business combinations (Note 3):
Real estate facilities (657,347) (531,794) (230,519)
Investment in real estate entities 189,400 124,696 (385,222)
Mortgage notes receivable
— —
(6,667)
Other assets (4,119) (5,849) (8,862)
Intangible assets
— —
(232,726)
Accrued and other liabilities 21,190 15,399 17,134
Notes payable
— —
96,728
Minority interest 74,068 20,139 17,034
Reduction of investment in real estate entities in exchange for
real estate facilities
—
1,891
—
Investment in real estate entities 30,406
— —
Acquisition of partnership interests in real estate entities
in exchange for common stock
— —
(4,034)
Financing Activities:
Cancellation of mortgage notes receivable to acquire real estate facilities
—
700 16,435
Assumption of mortgage notes payable upon the acquisition
of real estate facilities
—
1,701 60,908
Reduction in construction in process — contribution to joint venture (30,406)
— —
Minority interest issued in exchange for real estate facilities 119,279
— —
Accrued and unpaid distributions
— —
638
Issuance of Preferred Stock:
Mandatory Convertible Preferred Stock, Series CC to acquire interest in
consolidated real estate partnerships
—
58,955
—
Mandatory Convertible Participating Preferred Stock to acquire interest in
consolidated real estate partnerships
— —
28,470
Issuance of Common Stock:
In connection with mergers 212,000 204,932 573,756
Acquire real estate facilities
— —
10,598
Acquire partnership interests in real estate entities
— —
4,034
In connection with conversion of Convertible Preferred Stock 61,621 29,486
—
Issuance of Class B Common Stock in connection with mergers
—
—
73,500
Conversion of 8.25% Convertible Preferred Stock (2,666) (1,526)
—
Conversion of Mandatory Convertible Preferred Stock (58,955) (28,470)
—
See accompanying notes.
For each of the three years in the period ended December 31, 1997