Public Storage 2012 Annual Report Download - page 55

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37
NON SAME STORE FACILITIES Year Ended December 31, Year Ended December 31,
2012 2011 Change 2011 2010 Change
(Dollar amounts in thousands, except square foot amounts)
Rental income:
Facilities placed into service in 2012...................... $ 8,715 $ - $ 8,715 $ - $ - $ -
Facilities placed into service in 2011...................... 13,302 5,914 7,388 5,914 - 5,914
Other facilities... ..................................................... 84,753 75,555 9,198 75,555 54,763 20,792
Total rental income ................................................. 106,770 81,469 25,301 81,469 54,763 26,706
Cost of operations before depreciation and
amortization expense:
Facilities placed into service in 2012 ..................... $ 3,446 $ - $ 3,446 $ - $ - $ -
Facilities placed into service in 2011 ..................... 4,040 2,174 1,866 2,174 - 2,174
Other facilities ........................................................ 25,628 25,623 5 25,623 19,884 5,739
Total cost of operations .......................................... 33,114 27,797 5,317 27,797 19,884 7,913
Net operating income before depreciation and
amortization expense (a):
Facilities placed into service in 2012 ..................... $ 5,269 $ - $ 5,269 $ - $ - $ -
Facilities placed into service in 2011 ..................... 9,262 3,740 5,522 3,740 - 3,740
Other facilities ........................................................ 59,125 49,932 9,193 49,932 34,879 15,053
Total net operating income (a) ............................... 73,656 53,672 19,984 53,672 34,879 18,793
Depreciation and amortization expense ........................ (41,798) (36,282) (5,516) (36,282) (34,426) (1,856)
Net income ............................................................. $ 31,858 $ 17,390 $ 14,468 $ 17,390 $ 453 $ 16,937
At December 31:
Square foot occupancy:
Facilities placed into service in 2012 ..................... 76.5% - - - - -
Facilities placed into service in 2011 ..................... 83.4% 75.2% 10.9% 75.2% - -
Other facilities ........................................................ 90.0% 86.1% 4.5% 86.1% 78.2% 10.1%
86.1% 84.3% 2.1% 84.3% 78.2% 10.7%
In place annual rent per occupied square foot:
Facilities placed into service in 2012 ..................... $ 13.31 $ - - $ - $ - -
Facilities placed into service in 2011 ..................... 15.07 14.29 5.5% 14.29 - -
Other facilities ........................................................ 16.31 15.61 4.5% 15.61 15.77 (1.0)%
$ 15.55 $ 15.41 0.9% $ 15.41 $ 15.77 (2.3)%
Number of Facilities:
Facilities placed into service in 2012 ..................... 27 - 27 - - -
Facilities placed into service in 2011 ..................... 14 14 - 14 -
14
Other facilities ........................................................ 83 83 - 83 83 -
124 97 27 97 83 14
Net rentable square feet (in thousands):
Facilities placed into service in 2012 ...................... 2,091 - 2,091 - - -
Facilities placed into service in 2011 ..................... 1,166 1,166 - 1,166 -
1,166
Other facilities ........................................................ 5,916 5,831 85 5,831 5,684 147
9,173 6,997 2,176 6,997 5,684 1,313
(a) See “Net Operating Income” below for a reconciliation of this non-GAAP measure to our net income in our statements of
income for the years ended December 31, 2012, 2011 and 2010.