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PUBLIC STORAGE
NOTES TO FINANCIAL STATEMENTS
December 31, 2012
F-30
For the year ended December 31, 2011
Domestic
Self-Storage
European
Self-Storage
Commercial
Other Items
Not Allocated to
Segments
Total
(Amounts in thousands)
Revenues:
Self-storage facilities .............................................
.
$ 1,603,524 $ - $ - $ - $ 1,603,524
Ancillary operations ..............................................
.
- - 14,592 99,497 114,089
1,603,524 - 14,592 99,497 1,717,613
Expenses:
Self-storage cost of operations ...............................
.
504,838 - - - 504,838
Ancillary cost of operations ...................................
.
- - 5,505 31,891 37,396
Depreciation and amortization ...............................
.
355,315 - 2,654 - 357,969
General and administrative ....................................
.
- - - 52,410 52,410
Asset impairment charges ......................................
.
297 - - 1,889 2,186
860,450 - 8,159 86,190 954,799
Operating income .......................................................
.
743,074 - 6,433 13,307 762,814
Interest and other income ...........................................
.
- 28,190 664 3,479 32,333
Interest expense ..........................................................
.
- - - (24,222) (24,222)
Equity in earnings of unconsolidated real estate
entities ....................................................................
.
1,771 29,152 27,781 - 58,704
Foreign currency exchange loss .................................
.
- (7,287) - - (7,287)
Gain on real estate sales and debt retirement, net.......
.
8,953 - - 1,848 10,801
Income (loss) from continuing operations ..................
.
753,798 50,055 34,878 (5,588) 833,143
Discontinued operations .............................................
.
3,696 - - (380) 3,316
Net income (loss) .......................................................
.
$ 757,494 $ 50,055 $ 34,878 $ (5,968) $ 836,459