Public Storage 2015 Annual Report Download - page 86
Download and view the complete annual report
Please find page 86 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.PUBLIC STORAGE
NOTES TO FINANCIAL STATEMENTS
December 31, 2015
)
GHWHUPLQHWKDWWKHIDLUYDOXHRIWKHUHSRUWLQJXQLWH[FHHGVWKHDJJUHJDWHFDUU\LQJDPRXQWQRLPSDLUPHQWFKDUJH
LV UHFRUGHG 2WKHUZLVH ZH UHFRUG DQ LPSDLUPHQW FKDUJH WR WKH H[WHQW WKH FDUU\LQJ DPRXQW RI WKH JRRGZLOO
H[FHHGVWKHDPRXQWWKDW ZRXOG EHDOORFDWHGWRJRRGZLOOLIWKHUHSRUWLQJXQLW ZHUHDFTXLUHGIRUHVWLPDWHG IDLU
YDOXH
:HHYDOXDWHWKH³6KXUJDUG´WUDGHQDPHIRULPSDLUPHQWDWOHDVWDQQXDOO\DQGZKHQHYHUUHOHYDQWHYHQWV
FLUFXPVWDQFHVDQGRWKHUUHODWHGIDFWRUVLQGLFDWHWKDWWKHIDLUYDOXHLVOHVVWKDQWKHFDUU\LQJDPRXQW:KHQZH
FRQFOXGHWKDWLWLVOLNHO\WKDWWKHDVVHWLVQRWLPSDLUHGZHGRQRWUHFRUGDQLPSDLUPHQWFKDUJHDQGQRIXUWKHU
DQDO\VLVLVSHUIRUPHG2WKHUZLVHZHUHFRUGDQLPSDLUPHQWFKDUJHWRWKHH[WHQWWKHFDUU\LQJDPRXQWH[FHHGV
WKHDVVHW¶VHVWLPDWHGIDLUYDOXH
1RLPSDLUPHQWVZHUHUHFRUGHGLQDQ\RIRXUHYDOXDWLRQVIRUDQ\SHULRGSUHVHQWHGKHUHLQ
5HYHQXHDQG([SHQVH5HFRJQLWLRQ
5HYHQXHVIURPVHOIVWRUDJHIDFLOLWLHVZKLFKLVSULPDULO\FRPSRVHGRIUHQWDOLQFRPHHDUQHGSXUVXDQWWR
PRQWKWRPRQWK OHDVHV IRU VWRUDJH VSDFH DV ZHOO DV DVVRFLDWHG ODWH FKDUJHV DQG DGPLQLVWUDWLYH IHHV DUH
UHFRJQL]HG DV HDUQHG 3URPRWLRQDO GLVFRXQWV UHGXFH UHQWDO LQFRPH RYHU WKH SURPRWLRQDO SHULRG ZKLFK LV
JHQHUDOO\RQHPRQWK$QFLOODU\UHYHQXHVDQGLQWHUHVWDQGRWKHULQFRPHDUHUHFRJQL]HGZKHQHDUQHG(TXLW\LQ
HDUQLQJV RI XQFRQVROLGDWHG UHDO HVWDWH HQWLWLHV UHSUHVHQWV RXU SURUDWD VKDUH RI WKH HDUQLQJV RI WKH
8QFRQVROLGDWHG5HDO(VWDWH(QWLWLHV
:H DFFUXH IRU SURSHUW\ WD[ H[SHQVH EDVHG XSRQ DFWXDO DPRXQWV ELOOHG DQG LQ VRPH FLUFXPVWDQFHV
HVWLPDWHVZKHQELOOVRUDVVHVVPHQWVKDYHQRWEHHQUHFHLYHGIURPWKHWD[LQJDXWKRULWLHV,IWKHVHHVWLPDWHVDUH
LQFRUUHFW WKH WLPLQJ DQG DPRXQW RI H[SHQVH UHFRJQLWLRQ FRXOG EH LQFRUUHFW &RVW RI RSHUDWLRQV JHQHUDO DQG
DGPLQLVWUDWLYHH[SHQVHLQWHUHVWH[SHQVHDVZHOODVDGYHUWLVLQJH[SHQGLWXUHVDUHH[SHQVHGDVLQFXUUHG
)RUHLJQ&XUUHQF\([FKDQJH7UDQVODWLRQ
7KH ORFDO FXUUHQF\ SULPDULO\ WKH (XUR LV WKH IXQFWLRQDO FXUUHQF\ IRU RXU LQWHUHVWV LQ IRUHLJQ
RSHUDWLRQV 7KH UHODWHG EDODQFH VKHHW DPRXQWV DUH WUDQVODWHG LQWR 86 'ROODUV DW WKH H[FKDQJH UDWHV DW WKH
UHVSHFWLYH ILQDQFLDO VWDWHPHQW GDWH ZKLOH DPRXQWV RQ RXU VWDWHPHQWV RI LQFRPH DUH WUDQVODWHG DW WKH DYHUDJH
H[FKDQJHUDWHVGXULQJWKHUHVSHFWLYHSHULRG:KHQILQDQFLDOLQVWUXPHQWVGHQRPLQDWHGLQDFXUUHQF\RWKHUWKDQ
WKH86'ROODUDUHH[SHFWHGWREHVHWWOHGLQFDVKLQWKHIRUHVHHDEOHIXWXUHWKHLPSDFWRIFKDQJHVLQWKH86
'ROODUHTXLYDOHQWDUHUHIOHFWHGLQFXUUHQWHDUQLQJV7KH(XURZDVWUDQVODWHGDWH[FKDQJHUDWHVRIDSSUR[LPDWHO\
86'ROODUVSHU(XURDW'HFHPEHUDW'HFHPEHUDQGDYHUDJHH[FKDQJHUDWHV
RIDQGIRUWKH\HDUVHQGHG'HFHPEHUDQGUHVSHFWLYHO\&XPXODWLYH
WUDQVODWLRQ DGMXVWPHQWV WR WKH H[WHQW QRW LQFOXGHG LQ FXPXODWLYH QHW LQFRPH DUH LQFOXGHG LQ HTXLW\ DV D
FRPSRQHQWRIDFFXPXODWHGRWKHUFRPSUHKHQVLYHLQFRPHORVV
)RURXUORDQUHFHLYDEOH 1RWHLIZHGHWHUPLQHWKDW LWLVSUREDEOH ZHZLOOEH XQDEOH WRFROOHFWDOO
DPRXQWVGXHEDVHGRQWKHWHUPVRIWKHORDQDJUHHPHQWZHUHFRUGDQLPSDLUPHQWFKDUJHIRUDQ\H[FHVVRIERRN
YDOXHRYHUWKHSUHVHQWYDOXHRIH[SHFWHGIXWXUHFDVKIORZV
1RLPSDLUPHQWVZHUHUHFRUGHGLQDQ\RIRXUHYDOXDWLRQVIRUDQ\SHULRGSUHVHQWHGKHUHLQ