Public Storage 1999 Annual Report Download - page 14

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U B LI C T O RAG E,N C . 1999 N N U AL REP O RT
12
ONSOLIDATED BALANCE H EETS
December 31, December 31,
(Amounts in thousands, except share data) 1999 1998
Assets
Cash and cash equivalents $ 55,125 $ 51,225
Real estate facilities, at cost:
Land 1,036,958 803,226
Buildings 2,785,475 2,159,065
3,822,433 2,962,291
Accumulated depreciation (533,412) (411,176)
3,289,021 2,551,115
Construction in process 140,764 83,138
3,429,785 2,634,253
Investment in real estate entities 457,529 450,513
Intangible assets, net 194,326 203,635
Mortgage notes receivable from affiliates 18,798 5,415
Other assets 58,822 58,863
Total assets $ 4,214,385 $3,403,904
Liabilities and Shareholders’ Equity
Notes payable $ 167,338 $ 81,426
Distributions payable 82,086 —
Accrued and other liabilities 89,261 63,813
Total liabilities 338,685 145,239
Minority interest 186,600 139,325
Commitments and contingencies
Shareholders’ Equity:
Preferred Stock, $0.01 par value, 50,000,000 shares authorized,
11,141,100 shares issued and outstanding (11,129,650 issued
and outstanding at December 31, 1998), at liquidation preference:
Cumulative Preferred Stock, issued in series 1,155,150 868,900
Common Stock, $0.10 par value, 200,000,000 shares authorized,
126,697,023 shares issued and outstanding (115,965,945 at December 31, 1998) 12,671 11,598
Class B Common Stock, $0.10 par value, 7,000,000 shares authorized and issued 700 700
Paid-in capital 2,463,193 2,178,465
Cumulative net income 1,089,973 802,088
Cumulative distributions paid (1,032,587) (742,411)
Total shareholders’equity 3,689,100 3,119,340
Total liabilities and shareholders’equity $ 4,214,385 $3,403,904
See accompanying notes.