$CUBE
CubeSmart

2012 Q4 Form 10-Q Financial Statement

#000110465912076716 Filed on November 09, 2012

View on sec.gov

Income Statement

Concept 2012 Q4 2012 Q3 2011 Q3
Revenue $73.08M $69.05M $57.70M
YoY Change 19.15% 19.67% 7.85%
Cost Of Revenue $26.70M $27.07M $24.08M
YoY Change 15.58% 12.39% 4.71%
Gross Profit $45.50M $41.98M $33.62M
YoY Change 26.74% 24.89% 10.22%
Gross Profit Margin 62.26% 60.8% 58.26%
Selling, General & Admin $6.500M $6.900M $5.500M
YoY Change 3.17% 25.45% -16.67%
% of Gross Profit 14.29% 16.43% 16.36%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $32.70M $28.73M $15.62M
YoY Change 46.64% 83.96% -8.65%
% of Gross Profit 71.87% 68.44% 46.46%
Operating Expenses $37.40M $35.60M $21.10M
YoY Change 39.55% 68.72% -0.94%
Operating Profit $8.100M $6.703M $13.31M
YoY Change -10.99% -49.64% 44.67%
Interest Expense -$11.30M -$5.100M -$9.600M
YoY Change -28.48% -46.88% -18.64%
% of Operating Profit -139.51% -76.09% -72.13%
Other Income/Expense, Net $300.0K $166.0K $8.000K
YoY Change 0.0% 1975.0% -98.67%
Pretax Income -$3.700M $300.0K $3.400M
YoY Change -61.46% -91.18% -247.83%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0% 0.0%
Net Earnings $1.481M $1.636M $6.828M
YoY Change -118.49% -76.04% -555.2%
Net Earnings / Revenue 2.03% 2.37% 11.83%
Basic Earnings Per Share $0.00 $0.07
Diluted Earnings Per Share $0.00 $0.00 $0.07
COMMON SHARES
Basic Shares Outstanding 129.3M shares 124.2M shares 98.90M shares
Diluted Shares Outstanding 124.2M shares 100.3M shares

Balance Sheet

Concept 2012 Q4 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.500M $2.700M $12.50M
YoY Change -50.55% -78.4% -46.12%
Cash & Equivalents $4.495M $2.707M $12.49M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $4.500M $2.700M $12.50M
YoY Change -50.55% -78.4% -46.12%
LONG-TERM ASSETS
Property, Plant & Equipment $2.090B $2.092B $1.433B
YoY Change 16.83% 45.97% 0.98%
Goodwill
YoY Change
Intangibles $21.67M
YoY Change -6.53%
Long-Term Investments $0.00 $0.00 $15.40M
YoY Change -100.0% -100.0%
Other Assets $14.30M $23.00M $22.80M
YoY Change -26.29% 0.88% -34.29%
Total Long-Term Assets $2.146B $2.165B $1.491B
YoY Change 14.94% 45.24% 1.13%
TOTAL ASSETS
Total Short-Term Assets $4.500M $2.700M $12.50M
Total Long-Term Assets $2.146B $2.165B $1.491B
Total Assets $2.150B $2.168B $1.503B
YoY Change 14.62% 44.22% 0.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $60.70M $63.00M $50.00M
YoY Change 19.02% 26.0% 23.15%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $77.60M $75.60M $57.80M
YoY Change 23.37% 30.8% 32.57%
LONG-TERM LIABILITIES
Long-Term Debt $1.024B $1.074B $646.0M
YoY Change 34.99% 66.3% -1.55%
Other Long-Term Liabilities $11.10M $11.00M $9.300M
YoY Change 15.63% 18.28% 4.49%
Total Long-Term Liabilities $1.035B $1.085B $655.3M
YoY Change 34.75% 65.62% -1.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $77.60M $75.60M $57.80M
Total Long-Term Liabilities $1.035B $1.085B $655.3M
Total Liabilities $1.112B $1.161B $795.1M
YoY Change 33.88% 46.01% 0.08%
SHAREHOLDERS EQUITY
Retained Earnings -$410.2M -$388.1M
YoY Change 19.94%
Common Stock $1.318M $1.274M
YoY Change 7.94%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $989.8M $949.9M $708.0M
YoY Change
Total Liabilities & Shareholders Equity $2.150B $2.168B $1.503B
YoY Change 14.62% 44.22% 0.39%

Cashflow Statement

Concept 2012 Q4 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income $1.481M $1.636M $6.828M
YoY Change -118.49% -76.04% -555.2%
Depreciation, Depletion And Amortization $32.70M $28.73M $15.62M
YoY Change 46.64% 83.96% -8.65%
Cash From Operating Activities $32.30M $27.50M $26.20M
YoY Change 62.31% 4.96% 11.49%
INVESTING ACTIVITIES
Capital Expenditures $35.60M $109.8M $25.60M
YoY Change -90.85% 328.91% -27.07%
Acquisitions
YoY Change
Other Investing Activities $24.40M -$74.00M $27.40M
YoY Change 1255.56% -370.07% -2207.69%
Cash From Investing Activities -$11.20M -$183.8M $1.900M
YoY Change -97.11% -9773.68% -105.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -19.30M 21.20M -17.30M
YoY Change -105.3% -222.54% -502.33%
NET CHANGE
Cash From Operating Activities 32.30M 27.50M 26.20M
Cash From Investing Activities -11.20M -183.8M 1.900M
Cash From Financing Activities -19.30M 21.20M -17.30M
Net Change In Cash 1.800M -135.1M 10.80M
YoY Change -151.43% -1350.93% -225.58%
FREE CASH FLOW
Cash From Operating Activities $32.30M $27.50M $26.20M
Capital Expenditures $35.60M $109.8M $25.60M
Free Cash Flow -$3.300M -$82.30M $600.0K
YoY Change -99.11% -13816.67% -105.17%

Facts In Submission

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dei Current Fiscal Year End Date
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--12-31
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
CY2012Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
129306038 shares
CY2012Q3 us-gaap Number Of States In Which Entity Operates
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22 state
cube Reporting Segments Number
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1 segment
CY2012Q3 us-gaap Minority Interest Ownership Percentage By Parent
MinorityInterestOwnershipPercentageByParent
0.967 pure
cube Common Stock Conversion Ratio
CommonStockConversionRatio
1 ratio
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
124169000 shares
CY2012Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
2432415000 USD
CY2012Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
340365000 USD
dei Entity Registrant Name
EntityRegistrantName
CubeSmart
dei Entity Central Index Key
EntityCentralIndexKey
0001298675
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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125976000 shares
CY2012Q3 us-gaap Income Loss From Continuing Operations
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-20000 USD
cube Fully Depreciated Assets
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24800000 USD
cube Fully Depreciated Assets
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41200000 USD
CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
154000 USD
CY2011Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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6828000 USD
CY2012Q3 cube Debt Instrument Unamortized Fair Value Adjustment
DebtInstrumentUnamortizedFairValueAdjustment
-4572000 USD
CY2011Q4 cube Debt Instrument Unamortized Fair Value Adjustment
DebtInstrumentUnamortizedFairValueAdjustment
-386000 USD
cube Debt Instrument Fixed Interest Rate Term
DebtInstrumentFixedInterestRateTerm
5
cube Debt Instrument Constant Interest Rate Term
DebtInstrumentConstantInterestRateTerm
5
CY2012Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
1542000 USD
CY2012Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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32249000 USD
CY2012Q3 us-gaap Notes And Loans Payable
NotesAndLoansPayable
258849000 USD
CY2012Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
41752000 USD
CY2012Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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86873000 USD
CY2012Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
21207000 USD
CY2012Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
70654000 USD
CY2012Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
254277000 USD
CY2012Q3 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
-4572000 USD
cube Debt Instrument Interest Rate Prime Maximum Number Of Days Outstanding
DebtInstrumentInterestRatePrimeMaximumNumberOfDaysOutstanding
30
CY2012Q3 us-gaap Longterm Debt Percentage Bearing Fixed Interest Amount
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903300000 USD
CY2011Q4 us-gaap Longterm Debt Percentage Bearing Fixed Interest Amount
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758400000 USD
CY2012Q3 us-gaap Loans Payable Fair Value Disclosure
LoansPayableFairValueDisclosure
905900000 USD
CY2011Q4 us-gaap Loans Payable Fair Value Disclosure
LoansPayableFairValueDisclosure
736300000 USD
CY2012Q3 us-gaap Longterm Debt Percentage Bearing Variable Interest Amount
LongtermDebtPercentageBearingVariableInterestAmount
171100000 USD
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
219069000 USD
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
203767000 USD
us-gaap Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
14705000 USD
us-gaap Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
-26732000 USD
cube Business Acquisition Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax Per Share Basic And Diluted
BusinessAcquisitionProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTaxPerShareBasicAndDiluted
0.10
cube Business Acquisition Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax Per Share Basic And Diluted
BusinessAcquisitionProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTaxPerShareBasicAndDiluted
-0.29
CY2012Q3 us-gaap Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual
15160000 USD
CY2011Q3 us-gaap Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual
2075000 USD
us-gaap Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual
36918000 USD
us-gaap Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual
3738000 USD
CY2012Q3 us-gaap Business Combination Pro Forma Information Earnings Or Loss Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual
-7289000 USD
CY2011Q3 us-gaap Business Combination Pro Forma Information Earnings Or Loss Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual
-504000 USD
us-gaap Business Combination Pro Forma Information Earnings Or Loss Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual
-20268000 USD
us-gaap Business Combination Pro Forma Information Earnings Or Loss Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual
-634000 USD
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
123016000 shares
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1452000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4170000 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
123016000 shares
CY2011Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
3363000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
1107000 USD
CY2011Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
4565000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
8885000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-11445000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
7275000 USD
us-gaap Other Comprehensive Income Reclassification Adjustment On Derivatives Included In Net Income Net Of Tax
OtherComprehensiveIncomeReclassificationAdjustmentOnDerivativesIncludedInNetIncomeNetOfTax
-8616000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Period Increase Decrease
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPeriodIncreaseDecrease
151000 USD
us-gaap Loans Assumed1
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107111000 USD
cube Proceeds From Unit Options Exercised
ProceedsFromUnitOptionsExercised
121000 USD
us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
85000 USD
CY2011Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
1309505000 USD
CY2012Q3 us-gaap Assets
Assets
2167713000 USD
CY2012Q3 us-gaap Liabilities
Liabilities
1160929000 USD
CY2012Q3 us-gaap Stockholders Equity
StockholdersEquity
949929000 USD
CY2012Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2167713000 USD
CY2011Q3 us-gaap Net Income Loss
NetIncomeLoss
6828000 USD
us-gaap Net Income Loss
NetIncomeLoss
7613000 USD
CY2012Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-2708000 USD
CY2012Q3 cube Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease Including Portion Attributable To Temporary Equity
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecreaseIncludingPortionAttributableToTemporaryEquity
132000 USD
CY2012Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease
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us-gaap Other Comprehensive Income Loss Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease
-8660000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-6512000 USD
CY2012Q3 cube Comprehensive Income Net Of Tax Attributable To Redeemable Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToRedeemableNoncontrollingInterest
-83000 USD
CY2012Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
415000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
2000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1361000 USD
us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
3313000 USD
cube Adjustments To Additional Paid In Capital Amortization Of Restricted Stock
AdjustmentsToAdditionalPaidInCapitalAmortizationOfRestrictedStock
2169000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
900000 USD
us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease
-8513000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease
147000 USD
us-gaap Dividends Preferred Stock
DividendsPreferredStock
4506000 USD
us-gaap Dividends Common Stock
DividendsCommonStock
32634000 USD
cube Proceeds From Unit Options Exercised
ProceedsFromUnitOptionsExercised
972000 USD
cube Payment For Derivative Swap Settlement
PaymentForDerivativeSwapSettlement
200000 USD
CY2012Q3 cube Disposal Group Including Discontinued Operations Number Of Real Estate Heldfor Sale
DisposalGroupIncludingDiscontinuedOperationsNumberOfRealEstateHeldforSale
3 property
cube Disposal Group Including Discontinued Operations Number Of Real Estate Properties Sold
DisposalGroupIncludingDiscontinuedOperationsNumberOfRealEstatePropertiesSold
15 property
CY2011 cube Disposal Group Including Discontinued Operations Number Of Real Estate Properties Sold
DisposalGroupIncludingDiscontinuedOperationsNumberOfRealEstatePropertiesSold
19 property
cube Payments To Minority Shareholders In Operating Partnership
PaymentsToMinorityShareholdersInOperatingPartnership
1001000 USD
CY2012Q3 cube Unsecured Senior Notes Net
UnsecuredSeniorNotesNet
250000000 USD
CY2012Q3 us-gaap Assets Held For Sale At Carrying Value
AssetsHeldForSaleAtCarryingValue
6452000 USD
us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
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us-gaap Increase Decrease In Other Operating Liabilities
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55000 USD
us-gaap Increase Decrease In Restricted Cash For Operating Activities
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-3307000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
4222000 USD
us-gaap Payments For Hedge Financing Activities
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195000 USD
CY2012Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
7579000 USD
CY2012Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
8943000 USD
CY2012Q3 us-gaap Other Assets
OtherAssets
49982000 USD
CY2012Q3 us-gaap Line Of Credit
LineOfCredit
65500000 USD
CY2012Q3 us-gaap Unsecured Debt
UnsecuredDebt
500000000 USD
CY2012Q3 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
63033000 USD
CY2012Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
12110000 USD
CY2012Q3 us-gaap Deferred Revenue
DeferredRevenue
10950000 USD
CY2012Q3 cube Real Estate Security Deposit Liability
RealEstateSecurityDepositLiability
487000 USD
CY2012Q3 us-gaap Temporary Equity Carrying Amount
TemporaryEquityCarryingAmount
56740000 USD
CY2011Q4 us-gaap Temporary Equity Carrying Amount
TemporaryEquityCarryingAmount
49732000 USD
CY2012Q3 us-gaap Preferred Stock Value
PreferredStockValue
31000 USD
CY2012Q3 us-gaap Common Stock Value
CommonStockValue
1274000 USD
CY2012Q3 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
1357888000 USD
CY2012Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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CY2012Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-388061000 USD
CY2012Q3 us-gaap Minority Interest
MinorityInterest
115000 USD
CY2011Q3 us-gaap Operating Leases Income Statement Minimum Lease Revenue
OperatingLeasesIncomeStatementMinimumLeaseRevenue
51932000 USD
us-gaap Operating Leases Income Statement Minimum Lease Revenue
OperatingLeasesIncomeStatementMinimumLeaseRevenue
150168000 USD
CY2011Q3 us-gaap Other Real Estate Revenue
OtherRealEstateRevenue
5679000 USD
us-gaap Other Real Estate Revenue
OtherRealEstateRevenue
15370000 USD
CY2011Q3 us-gaap Management Fees Revenue
ManagementFeesRevenue
878000 USD
us-gaap Management Fees Revenue
ManagementFeesRevenue
2634000 USD
CY2011Q3 us-gaap Cost Of Revenue
CostOfRevenue
24083000 USD
us-gaap Cost Of Revenue
CostOfRevenue
71505000 USD
CY2011Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
15620000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
45573000 USD
CY2011Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5476000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
18350000 USD
CY2011Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
8464000 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
24596000 USD
CY2011Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1093000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
4124000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
629000 USD
CY2011Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-24000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-24000 USD
CY2011Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
8000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-179000 USD
CY2011Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Net Of Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax
1038000 USD
us-gaap Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Net Of Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax
5358000 USD
us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
6403000 USD
CY2011Q3 us-gaap Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
3527000 USD
CY2011Q3 us-gaap Profit Loss
ProfitLoss
7928000 USD
CY2011Q3 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
329000 USD
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
368000 USD
CY2011Q3 us-gaap Minority Interest In Net Income Loss Other Minority Interests
MinorityInterestInNetIncomeLossOtherMinorityInterests
771000 USD
us-gaap Minority Interest In Net Income Loss Other Minority Interests
MinorityInterestInNetIncomeLossOtherMinorityInterests
2011000 USD
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.09
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.01
CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.06
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.09
CY2012Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.00
CY2011Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.02
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.09
CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.00
CY2011Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.05
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.06
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.09
CY2011Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
98895000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
98836000 shares
CY2011Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
100284000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
100264000 shares
CY2011Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-10050000 USD
CY2011Q3 cube Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease Including Portion Attributable To Temporary Equity
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecreaseIncludingPortionAttributableToTemporaryEquity
-76000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-9189000 USD
cube Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease Including Portion Attributable To Temporary Equity
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecreaseIncludingPortionAttributableToTemporaryEquity
152000 USD
cube Comprehensive Income Net Of Tax Attributable To Redeemable Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToRedeemableNoncontrollingInterest
-35000 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
1740000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
59143000 USD
cube Depreciation Depletion And Amortization Cash Flow Impact
DepreciationDepletionAndAmortizationCashFlowImpact
85912000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3069000 USD
us-gaap Accretion Expense
AccretionExpense
-461000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-8422000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
7394000 USD
us-gaap Payments To Acquire And Develop Real Estate
PaymentsToAcquireAndDevelopRealEstate
220764000 USD
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2011Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.07
us-gaap Proceeds From Sale Of Notes Receivable
ProceedsFromSaleOfNotesReceivable
27433000 USD
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-1825000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
343300000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
249638000 USD
us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
100000000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
277800000 USD
cube Payments Of Mortgage Loans And Notes Payable
PaymentsOfMortgageLoansAndNotesPayable
206452000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
59143000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1361000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
29500000 USD
cube Payments To Minority Shareholders In Operating Partnership
PaymentsToMinorityShareholdersInOperatingPartnership
1102000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
2685000 USD
us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
2145000 USD
us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.09
us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.01
CY2011 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1500000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
119200000 USD
CY2011 cube Sale Of Common Stock Price Per Share
SaleOfCommonStockPricePerShare
10.75
cube Sale Of Common Stock Price Per Share
SaleOfCommonStockPricePerShare
12.81
cube Sale Of Common Stock Price Per Share
SaleOfCommonStockPricePerShare
9.30
CY2012Q3 cube Number Of Shares Available For Sale Under Sale Agreement
NumberOfSharesAvailableForSaleUnderSaleAgreement
7100000 shares
cube Number Of Shares That Can Be Sold Under Sale Agreement
NumberOfSharesThatCanBeSoldUnderSaleAgreement
20000000 shares
CY2011 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
140000 shares
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
4700000 shares
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
12900000 shares
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
CY2011Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.07
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
56984000 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
15414000 USD
us-gaap Proceeds From Distributions Received From Real Estate Partnerships
ProceedsFromDistributionsReceivedFromRealEstatePartnerships
909000 USD
cube Noncash Or Part Noncash Consolidation Of Real Estate Venture
NoncashOrPartNoncashConsolidationOfRealEstateVenture
13527000 USD
cube Profit Loss Including Temporary Equity Net Income Loss
ProfitLossIncludingTemporaryEquityNetIncomeLoss
9624000 USD
cube Profit Loss Including Temporary Equity Net Income Loss
ProfitLossIncludingTemporaryEquityNetIncomeLoss
2254000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
81158000 USD
CY2012Q3 us-gaap Business Combination Step Acquisition Equity Interest In Acquiree Remeasurement Gain
BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGain
7023000 USD
us-gaap Business Combination Step Acquisition Equity Interest In Acquiree Remeasurement Gain
BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGain
7023000 USD
cube Other Nonoperating Income Expense Net
OtherNonoperatingIncomeExpenseNet
-28401000 USD
CY2011Q3 us-gaap Costs And Expenses
CostsAndExpenses
45179000 USD
CY2011Q3 cube Other Nonoperating Income Expense Net
OtherNonoperatingIncomeExpenseNet
-9947000 USD
CY2011Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.04
CY2012Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2011Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000 shares
CY2012Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
127430047 shares
CY2012Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2011Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2012Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.00
CY2011Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.03
CY2011Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2012Q3 us-gaap Costs And Expenses
CostsAndExpenses
65829000 USD

Files In Submission

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0001104659-12-076716-index.html Edgar Link pending
0001104659-12-076716.txt Edgar Link pending
0001104659-12-076716-xbrl.zip Edgar Link pending
a12-19950_110q.htm Edgar Link pending
a12-19950_1ex12d1.htm Edgar Link pending
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cube-20120930.xml Edgar Link completed
cube-20120930.xsd Edgar Link pending
cube-20120930_cal.xml Edgar Link unprocessable
cube-20120930_def.xml Edgar Link unprocessable
cube-20120930_lab.xml Edgar Link unprocessable
cube-20120930_pre.xml Edgar Link unprocessable
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