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Public Storage, Inc. 1998 Annual Report
17
(Amounts in thousands)
For each of the three years in the period ended December 31, 1998 1998 1997 1996
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 $ (42,047) $(119,279) $ (4,292)
Business combinations (Note 3):
Real estate facilities (224,999) (657,347) (531,794)
Investment in real estate entities 86,966 189,400 124,696
Other assets (670) (4,119) (5,849)
Accrued and other liabilities 3,793 21,190 15,399
Minority interest 35,210 74,068 20,139
Effect of the deconsolidation of PS Business Parks (Note 2)
Investments in real estate entities (219,225) — —
Real estate facilities, net of accumulated depreciation 433,446 — —
Other assets 2,048 — —
Accrued and other liabilities (10,106) — —
Notes payable (14,526) — —
Minority interest (202,897) — —
Acquisition of minority interest in exchange for common stock (25,460) — —
Investment in real estate entities (17,133) 30,406 —
Financing activities:
Cancellation of mortgage notes receivable to acquire real estate facilities 2,495 —
700
Assumption of mortgage notes payable upon the
acquisition of real estate facilities 14,526 — 1,701
Reduction of investment in real estate entities
in exchange for real estate facilities 527 — 1,891
Reduction in construction in process — contribution to joint venture — (30,406) —
Minority interest issued in exchange for real estate facilities 1,206 119,279 —
Issuance of Mandatory Convertible Preferred Stock, Series CC to acquire
interest in consolidated real estate partnerships — — 58,955
Issuance of Common Stock:
In connection with mergers 13,817 212,000 204,932
To acquire minority interests 25,908 — —
Acquire partnership interests in real estate entities 17,133 — —
In connection with conversion of Convertible Preferred Stock 53,308 61,621 29,486
Conversion of 8.25% Convertible Preferred Stock (53,308) (2,666) (1,526)
Conversion of Mandatory Convertible Preferred Stock — (58,955) (28,470)
See accompanying notes.