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PUBLIC STORAGE
NOTES TO FINANCIAL STATEMENTS
December 31, 2013
F-33
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 $ 1,621,799 $ - $ - $ - $ 1,621,799
Ancillary operations - - 14,592 99,497 114,089
1,621,799 - 14,592 99,497 1,735,888
Ex
p
enses:
Self-storage cost of operations 523,113 - - - 523,113
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
878,725 - 8,159 86,190 973,074
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
N
et income (loss) $ 757,494 $ 50,055 $ 34,878 $ (5,968) $ 836,459
12. Recent Accounting Pronouncements and Guidance
In January 2013, we adopted ASU No. 2013-02, “Reporting Amounts Classified out of Accumulated
Other Comprehensive Income,” (ASU No. 2013-02”) which requires enhanced disclosures, in one place in our
notes to financial statements, about items reclassified out of accumulated other comprehensive income. The
adoption of ASU No. 2013-02 had no impact on our financial condition or results of operations.