Public Storage 2015 Annual Report Download - page 3
Download and view the complete annual report
Please find page 3 of the 2015 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.-
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
 |
 |
1
SELECTED FINANCIAL HIGHLIGHTS
Operating Revenue $ 2,381,696 $ 2,177,296 $ 1,964,942 $ 1,826,186 $ 1,718,818
Operating Expenses:
Cost of operations 635,502 613,324 559,759 550,805 554,814
Depreciation and amortization 426,008 437,114 387,402 357,781 357,969
General and administrative 88,177 71,459 66,679 56,837 52,410
Asset impairment charges — — — — 2,186
1,149,687 1,121,897 1,013,840 965,423 967,379
Operating income 1,232,009 1,055,399 951,102 860,763 751,439
Interest and other income 16,544 17,638 33,979 33,293 43,708
Interest expense (610) (6,781) (6,444) (19,813) (24,222)
Equity in earnings of unconsolidated
real estate entities 50,937 88,267 57,579 45,586 58,704
Foreign currency exchange gain (loss) 306 (7,047) 17,082 8,876 (7,287)
Gain on real estate sales and debt retirement 18,503 2,479 4,233 1,456 10,801
Income from continuing operations 1,317,689 1,149,955 1,057,531 930,161 833,143
Discontinued operations — — — 12,874 3,316
Net income 1,317,689 1,149,955 1,057,531 943,035 836,459
Net income allocated to noncontrolling
equity interests (6,445) (5,751) (5,078) (3,777) (12,617)
Net income allocable to Public Storage
shareholders $ 1,311,244 $ 1,144,204 $ 1,052,453 $ 939,258 $ 823,842
Per Common Share:
Distributions $ 6.50 $ 5.60 $ 5.15 $ 4.40 $ 3.65
Net income - diluted $ 6.07 $ 5.25 $ 4.89 $ 3.90 $ 3.29
Weighted average common shares - diluted 173,510 173,138 172,688 171,664 170,750
Balance Sheet Data:
Total assets $ 9,778,232 $ 9,818,676 $ 9,876,266 $ 8,793,403 $ 8,932,562
Total debt $ 319,016 $ 64,364 $ 839,053 $ 468,828 $ 398,314
Total preferred equity $ 4,055,000 $ 4,325,000 $ 3,562,500 $ 2,837,500 $ 3,111,271
Public Storage shareholders’ equity $ 9,170,641 $ 9,480,796 $ 8,791,730 $ 8,093,756 $ 8,288,209
Permanent noncontrolling interests’ equity $ 26,997 $ 26,375 $ 27,125 $ 29,108 $ 22,718
Cash Flow Information:
Net cash provided by operating activities $ 1,732,601 $ 1,592,093 $ 1,430,339 $ 1,285,659 $ 1,203,452
Net cash used in investing activities $ (440,105) $ (198,331) $ (1,412,393) $ (290,465) $ (81,355)
Net cash used in financing activities $ (1,375,605) $ (1,225,415) $ (16,160) $ (1,117,305) $ (1,438,546)
For the year ended December 31,
2015 2014 2013 2012 2011
(Amounts in thousands, except share and per share data)