Public Storage 2003 Annual Report Download - page 83

Download and view the complete annual report

Please find page 83 of the 2003 Public Storage annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 169

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169

PUBLIC STORAGE, INC.
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
For each of the three years in the period ended December 31, 2003
(Amounts in thousands, except share and per share amounts)
See accompanying notes.
F-4
Cumulative Class B Total
Preferred Common Common Paid-in Cumulative Cumulative Shareholdersî‚’
Stock Stock Stock Capital Net Income Distributions Equity
Balances at December 31, 2000 .................................................................................... $ 1,155,150 $ 12,370 $ 700 $ 2,506,736 $ 1,387,061 $ (1,337,900) $ 3,724,117
Issuance of Cumulative Preferred Stock; Series Q (6,900 shares), Series R
(20,400 shares) and Series S (5,750 shares)...........................................................
826,250 -
- (27,177)
-
-
799,073
Redemption of Cumulative Preferred Stock; Series G (6,900 shares), Series H
(6,750 shares) and Series I (4,000 shares)..............................................................
(441,250) -
- (75)
-
-
(441,325)
Issuance of Equity Stock, Series A (3,140.500 shares).............................................. - - - 74,820 - - 74,820
Issuance of Common Stock (1,843,634 shares) ........................................................ - 184 - 46,487 - - 46,671
Repurchase of Common Stock (10,585,593 shares) ................................................. - (1,058) - (275,803) - - (276,861)
Issuance of Put Option (Note 10) .............................................................................. - - - 910 - - 910
Net income .................................................................................................................. - - - - 324,208 - 324,208
Distributions to shareholders:
Cumulative Preferred Stock ................................................................................... - - - - - (117,979) (117,979)
Equity Stock, Series A............................................................................................ - - - - - (19,455) (19,455)
Common Stock ($1.69 per common share and common share equivalent) .......... - - - - - (204,596) (204,596)
Balances at December 31, 2001 .................................................................................... 1,540,150 11,496 700 2,325,898 1,711,269 (1,679,930) 3,909,583
Issuance of Cumulative Preferred Stock; Series T (6,000 shares), Series U (6,000
shares) and Series V (6,900 shares) .......................................................................
472,500 -
- (15,484)
-
-
457,016
Redemption of Cumulative Preferred Stock; Series A (1,825,000 shares) and
Series J (6,000 shares) ............................................................................................
(195,625) -
- (36)
-
-
(195,661)
Issuance of Common Stock (2,040,540 shares) ......................................................... - 204 - 61,033 - - 61,237
Repurchase of Common Stock (11,000 shares).......................................................... - (1) - (380) - - (381)
Stock option expense .................................................................................................. - - - 163 - - 163
Net income .................................................................................................................. - - - - 318,738 - 318,738
Distributions to shareholders:
Cumulative Preferred Stock ................................................................................... - - - - - (148,926) (148,926)
Equity Stock, Series A............................................................................................ - - - - - (21,501) (21,501)
Common Stock ($1.80 per common share and common share equivalent) .......... - - - - - (221,299) (221,299)
Balances at December 31, 2002 .................................................................................... 1,817,025 11,699 700 2,371,194 2,030,007 (2,071,656) 4,158,969
Issuance of Cumulative Preferred Stock; Series W (5,300 shares) and Series X
(4,800 shares)..........................................................................................................
252,500 -
- (8,354)
-
-
244,146
Redemption of Cumulative Preferred Stock; Series B (2,300,000 shares), Series
C (1,200,000 shares) and Series K (4,600 shares) .................................................
(202,500) -
- (35)
-
-
(202,535)
Conversion of Class B Common Stock (7,000,000 shares) (Note 10) - 700 (700) - - - -
Issuance of Common Stock (3,170,279 shares) (Note 10)......................................... - 317 - 81,281 - - 81,598
Repurchase of Common Stock (175,000 shares) (Note 10) ....................................... - (17) - (5,984) - - (6,001)
Stock option expense (Note 12).................................................................................. - - - 530 - - 530
Net income .................................................................................................................. - - - - 336,653 - 336,653
Distributions to shareholders:
Cumulative Preferred Stock ................................................................................... - - - - - (146,196) (146,196)
Equity Stock, Series A............................................................................................ - - - - - (21,501) (21,501)
Common Stock ($1.80 per share)........................................................................... - - - - - (225,864) (225,864)
Balances at December 31, 2003 .................................................................................... $ 1,867,025 $ 12,699 $ - $ 2,438,632 $ 2,366,660 $ (2,465,217) $ 4,219,799