$EXR
Extra Space Storage Inc. Stock $exr

$exr Overview Financials Valuation SEC Filings Company Website

2012 Q4 Form 10-Q Financial Statement

#000110465912074013 Filed on November 05, 2012

Income Statement

Concept	2012 Q4	2012 Q3	2011 Q3
Revenue	$113.7M	$109.8M	$84.10M
YoY Change	21.94%	30.55%	16.8%
Cost Of Revenue	$34.50M	$30.12M	$24.27M
YoY Change	29.21%	24.08%	5.06%
Gross Profit	$79.10M	$79.68M	$59.83M
YoY Change	18.95%	33.18%	22.35%
Gross Profit Margin	69.59%	72.57%	71.14%
Selling, General & Admin	$12.70M	$12.60M	$12.30M
YoY Change	-4.51%	2.44%	16.04%
% of Gross Profit	16.06%	15.81%	20.56%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$21.60M	$19.77M	$14.36M
YoY Change	35.0%	37.62%	14.91%
% of Gross Profit	27.31%	24.81%	24.01%
Operating Expenses	$34.30M	$32.30M	$26.70M
YoY Change	17.47%	20.97%	6.37%
Operating Profit	$43.11M	$43.48M	$31.22M
YoY Change	25.4%	39.3%	31.16%
Interest Expense	-$3.100M	$18.42M	$16.76M
YoY Change	-79.87%	9.95%	-228.89%
% of Operating Profit	-7.19%	42.37%	53.68%
Other Income/Expense, Net
YoY Change
Pretax Income	$40.00M	$26.74M	$15.42M
YoY Change	110.53%	73.41%	45.44%
Income Tax	$1.200M	$1.656M	-$62.00K
% Of Pretax Income	3.0%	6.19%	-0.4%
Net Earnings	$36.08M	$38.61M	$17.35M
YoY Change	95.92%	122.49%	125.35%
Net Earnings / Revenue	31.74%	35.16%	20.63%
Basic Earnings Per Share	$0.33	$0.37	$0.16
Diluted Earnings Per Share	$0.33	$0.37	$0.16
COMMON SHARES
Basic Shares Outstanding	104.3M shares	104.3M shares	94.31M shares
Diluted Shares Outstanding		108.8M shares	98.87M shares

Balance Sheet

Concept	2012 Q4	2012 Q3	2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$30.80M	$43.60M	$33.90M
YoY Change	16.23%	28.61%	55.5%
Cash & Equivalents	$30.79M	$43.61M	$33.90M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables	$11.10M	$10.90M	$61.20M
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$41.90M	$54.50M	$95.10M
YoY Change	-6.89%	-42.69%	43.44%
LONG-TERM ASSETS
Property, Plant & Equipment	$2.992B	$2.742B	$2.060B
YoY Change	32.15%	33.09%	10.27%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$106.3M	$121.3M	$134.2M
YoY Change	-18.48%	-9.61%	-6.87%
Other Assets	$17.00M	$23.40M	$30.40M
YoY Change	-34.11%	-23.03%	-41.76%
Total Long-Term Assets	$3.182B	$2.958B	$2.279B
YoY Change	28.68%	29.81%	8.07%
TOTAL ASSETS
Total Short-Term Assets	$41.90M	$54.50M	$95.10M
Total Long-Term Assets	$3.182B	$2.958B	$2.279B
Total Assets	$3.223B	$3.013B	$2.374B
YoY Change	28.04%	26.9%	9.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$52.30M	$49.60M	$39.90M
YoY Change	12.72%	24.31%	6.68%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change			-100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$52.30M	$49.60M	$39.90M
YoY Change	12.72%	24.31%	-10.74%
LONG-TERM LIABILITIES
Long-Term Debt	$1.578B	$1.590B	$1.242B
YoY Change	15.69%	28.01%	6.04%
Other Long-Term Liabilities	$48.20M	$43.00M	$30.00M
YoY Change	42.6%	43.33%	20.0%
Total Long-Term Liabilities	$1.626B	$1.633B	$1.272B
YoY Change	16.34%	28.37%	6.34%
TOTAL LIABILITIES
Total Short-Term Liabilities	$52.30M	$49.60M	$39.90M
Total Long-Term Liabilities	$1.626B	$1.633B	$1.272B
Total Liabilities	$1.678B	$1.683B	$1.367B
YoY Change	16.23%	23.12%	5.25%
SHAREHOLDERS EQUITY
Retained Earnings	-$235.1M	-$243.5M
YoY Change	-10.99%
Common Stock	$1.741B	$1.533B
YoY Change	34.87%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$1.492B	$1.275B	$1.007B
YoY Change
Total Liabilities & Shareholders Equity	$3.223B	$3.013B	$2.374B
YoY Change	28.04%	26.9%	9.15%

Cashflow Statement

Concept	2012 Q4	2012 Q3	2011 Q3
OPERATING ACTIVITIES
Net Income	$36.08M	$38.61M	$17.35M
YoY Change	95.92%	122.49%	125.35%
Depreciation, Depletion And Amortization	$21.60M	$19.77M	$14.36M
YoY Change	35.0%	37.62%	14.91%
Cash From Operating Activities	$62.90M	$60.40M	$35.50M
YoY Change	44.6%	70.14%	24.13%
INVESTING ACTIVITIES
Capital Expenditures	-$238.5M	-$322.7M	-$29.20M
YoY Change	171.64%	1005.14%	56.15%
Acquisitions
YoY Change
Other Investing Activities	$6.600M	$13.50M	-$44.40M
YoY Change	29.41%	-130.41%	-662.03%
Cash From Investing Activities	-$231.8M	-$309.2M	-$73.60M
YoY Change	180.29%	320.11%	581.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net	$202.9M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	156.2M	106.9M	36.80M
YoY Change	391.19%	190.49%	-250.82%
NET CHANGE
Cash From Operating Activities	62.90M	60.40M	35.50M
Cash From Investing Activities	-231.8M	-309.2M	-73.60M
Cash From Financing Activities	156.2M	106.9M	36.80M
Net Change In Cash	-12.70M	-141.9M	-1.300M
YoY Change	71.62%	10815.38%	-80.3%
FREE CASH FLOW
Cash From Operating Activities	$62.90M	$60.40M	$35.50M
Capital Expenditures	-$238.5M	-$322.7M	-$29.20M
Free Cash Flow	$301.4M	$383.1M	$64.70M
YoY Change	129.55%	492.12%	36.79%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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CY2012Q3	exr	Equity Method Investment Ownership Percentage High End Of Range EquityMethodInvestmentOwnershipPercentageHighEndOfRange	0.39	pure
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CY2012Q2	exr	Note Receivable Interest Rate NoteReceivableInterestRate	0.15	pure
CY2012Q2	exr	Number Of Self Storage Properties NumberOfSelfStorageProperties	2	property
CY2012Q2	us-gaap	Property Management Fee Percent Fee PropertyManagementFeePercentFee	0.06	pure
CY2012Q3	exr	Variable Interest Entity Interest In Trust Number VariableInterestEntityInterestInTrustNumber	3	subsidiary
CY2012Q3	us-gaap	Restricted Cash And Cash Equivalents RestrictedCashAndCashEquivalents	23384000	USD
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	exr	Interest Rate Cash Flow Hedge Increase Decrease In Interest Expenses Due To Interest Payments InterestRateCashFlowHedgeIncreaseDecreaseInInterestExpensesDueToInterestPayments	-2014000	USD
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	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	95866290	shares
CY2012Q3	us-gaap	Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Period Increase Decrease OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease	-3564000	USD
CY2011Q3	us-gaap	Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Period Increase Decrease OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease	-1441000	USD
	us-gaap	Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Period Increase Decrease OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease	-7296000	USD
	us-gaap	Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Period Increase Decrease OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease	-2115000	USD
CY2012Q3	us-gaap	Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest	37989000	USD
CY2011Q3	us-gaap	Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest	15911000	USD
CY2012Q3	us-gaap	Common Stock Dividends Per Share Cash Paid CommonStockDividendsPerShareCashPaid	0.20
CY2011Q3	us-gaap	Common Stock Dividends Per Share Cash Paid CommonStockDividendsPerShareCashPaid	0.14
	us-gaap	Common Stock Dividends Per Share Cash Paid CommonStockDividendsPerShareCashPaid	0.60
	us-gaap	Common Stock Dividends Per Share Cash Paid CommonStockDividendsPerShareCashPaid	0.42
	us-gaap	Profit Loss ProfitLoss	88816000	USD
	us-gaap	Profit Loss ProfitLoss	40009000	USD
CY2012Q3	us-gaap	Minority Interest In Net Income Loss Preferred Unit Holders MinorityInterestInNetIncomeLossPreferredUnitHolders	1805000	USD
CY2011Q3	us-gaap	Minority Interest In Net Income Loss Preferred Unit Holders MinorityInterestInNetIncomeLossPreferredUnitHolders	1598000	USD
	us-gaap	Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest	81520000	USD
	us-gaap	Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest	37894000	USD
CY2012Q3	us-gaap	Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest	2814000	USD
CY2011Q3	us-gaap	Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest	2033000	USD
	us-gaap	Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest	7307000	USD
	us-gaap	Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest	5755000	USD
CY2012Q3	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	35175000	USD
CY2011Q3	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	13878000	USD
	us-gaap	Amortization Of Debt Discount Premium AmortizationOfDebtDiscountPremium	444000	USD
	us-gaap	Stock Issued During Period Value Stock Options Exercised StockIssuedDuringPeriodValueStockOptionsExercised	8931000	USD
	us-gaap	Stock Issued During Period Value Restricted Stock Award Gross StockIssuedDuringPeriodValueRestrictedStockAwardGross	2000	USD
	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	226692000	USD
	us-gaap	Other Comprehensive Income Loss Net Of Tax Period Increase Decrease OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease	-7296000	USD
	us-gaap	Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation	3099000	USD
	us-gaap	Minority Interest Decrease From Distributions To Noncontrolling Interest Holders MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders	6746000	USD
	us-gaap	Dividends Common Stock DividendsCommonStock	60693000	USD
	us-gaap	Amortization Of Debt Discount Premium AmortizationOfDebtDiscountPremium	1308000	USD
	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	-951000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	3318000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	3895000	USD
	us-gaap	Income Loss From Equity Method Investments Net Of Dividends Or Distributions IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions	-1642000	USD
	us-gaap	Income Loss From Equity Method Investments Net Of Dividends Or Distributions IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions	-4665000	USD
	us-gaap	Increase Decrease In Due From Related Parties Current IncreaseDecreaseInDueFromRelatedPartiesCurrent	-7587000	USD
	us-gaap	Increase Decrease In Due From Related Parties Current IncreaseDecreaseInDueFromRelatedPartiesCurrent	301000	USD
	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	-4866000	USD
	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	-1108000	USD
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	4530000	USD
	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	-1726000	USD
	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	-1469000	USD
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	5681000	USD
	us-gaap	Payments To Acquire Equity Method Investments PaymentsToAcquireEquityMethodInvestments	3737000	USD
	us-gaap	Noncash Or Part Noncash Acquisition Debt Assumed1 NoncashOrPartNoncashAcquisitionDebtAssumed1	8660000	USD
	us-gaap	Payments To Acquire Commercial Real Estate PaymentsToAcquireCommercialRealEstate	365616000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	152961000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	100657000	USD
	us-gaap	Payments To Acquire Commercial Real Estate PaymentsToAcquireCommercialRealEstate	108403000	USD
	us-gaap	Payments For Construction In Process PaymentsForConstructionInProcess	3137000	USD
	us-gaap	Payments For Construction In Process PaymentsForConstructionInProcess	6315000	USD
	us-gaap	Payments To Acquire Equity Method Investments PaymentsToAcquireEquityMethodInvestments	1053000	USD
	exr	Return Of Investment Real Estate Ventures ReturnOfInvestmentRealEstateVentures	1848000	USD
	exr	Return Of Investment Real Estate Ventures ReturnOfInvestmentRealEstateVentures	4614000	USD
	us-gaap	Increase Decrease In Restricted Cash IncreaseDecreaseInRestrictedCash	-2384000	USD
	us-gaap	Payments To Acquire Notes Receivable PaymentsToAcquireNotesReceivable	7875000	USD
	us-gaap	Payments To Acquire Notes Receivable PaymentsToAcquireNotesReceivable	51000000	USD
	us-gaap	Payments To Acquire Furniture And Fixtures PaymentsToAcquireFurnitureAndFixtures	4493000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities Continuing Operations NetCashProvidedByUsedInInvestingActivitiesContinuingOperations	-169188000	USD
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	226692000	USD
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	112352000	USD
	us-gaap	Repayments Of Unsecured Debt RepaymentsOfUnsecuredDebt	87663000	USD
	exr	Proceeds From Notes Payable And Lines Of Credit ProceedsFromNotesPayableAndLinesOfCredit	640655000	USD
	exr	Proceeds From Notes Payable And Lines Of Credit ProceedsFromNotesPayableAndLinesOfCredit	370242000	USD
	exr	Payments Of Notes Payable And Lines Of Credit PaymentsOfNotesPayableAndLinesOfCredit	473349000	USD
	exr	Payments Of Notes Payable And Lines Of Credit PaymentsOfNotesPayableAndLinesOfCredit	389706000	USD
	us-gaap	Payments Of Financing Costs PaymentsOfFinancingCosts	8427000	USD
	us-gaap	Payments Of Financing Costs PaymentsOfFinancingCosts	4149000	USD
	us-gaap	Payments To Minority Shareholders PaymentsToMinorityShareholders	155000	USD
	us-gaap	Payments To Minority Shareholders PaymentsToMinorityShareholders	271000	USD
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	8931000	USD
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	12114000	USD
	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	60693000	USD
	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	38785000	USD
	us-gaap	Payments Of Dividends Minority Interest PaymentsOfDividendsMinorityInterest	6759000	USD
	us-gaap	Payments Of Dividends Minority Interest PaymentsOfDividendsMinorityInterest	6121000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities Continuing Operations NetCashProvidedByUsedInFinancingActivitiesContinuingOperations	239232000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities Continuing Operations NetCashProvidedByUsedInFinancingActivitiesContinuingOperations	55676000	USD
	us-gaap	Net Cash Provided By Used In Continuing Operations NetCashProvidedByUsedInContinuingOperations	17124000	USD
	us-gaap	Net Cash Provided By Used In Continuing Operations NetCashProvidedByUsedInContinuingOperations	-12855000	USD
	us-gaap	Noncash Or Part Noncash Acquisition Debt Assumed1 NoncashOrPartNoncashAcquisitionDebtAssumed1	147592000	USD
	us-gaap	Interest Paid Net InterestPaidNet	47816000	USD
	us-gaap	Interest Paid Net InterestPaidNet	45048000	USD
	us-gaap	Conversion Of Stock Amount Converted1 ConversionOfStockAmountConverted1	2344000	USD
	exr	Redemption Of Operating Partnership Units For Common Stock Including Additional Paid In Capital RedemptionOfOperatingPartnershipUnitsForCommonStockIncludingAdditionalPaidInCapital	2344000	USD
	us-gaap	Proceeds And Excess Tax Benefit From Sharebased Compensation ProceedsAndExcessTaxBenefitFromSharebasedCompensation	3099000	USD
	us-gaap	Proceeds And Excess Tax Benefit From Sharebased Compensation ProceedsAndExcessTaxBenefitFromSharebasedCompensation	1918000	USD
	us-gaap	Adjustment To Additional Paid In Capital Income Tax Effect From Share Based Compensation Net AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet	3099000	USD
	us-gaap	Adjustment To Additional Paid In Capital Income Tax Effect From Share Based Compensation Net AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet	1918000	USD
	exr	Noncash Or Part Noncash Acquisition Net Real Estate Assets Acquired NoncashOrPartNoncashAcquisitionNetRealEstateAssetsAcquired	148021000	USD
	exr	Noncash Or Part Noncash Acquisition Net Real Estate Assets Acquired NoncashOrPartNoncashAcquisitionNetRealEstateAssetsAcquired	8660000	USD
	exr	Operating Partnership Units Issued OperatingPartnershipUnitsIssued	-429000	USD
	exr	Noncash Or Part Noncash Investment In Real Estate And Real Estate Joint Ventures NoncashOrPartNoncashInvestmentInRealEstateAndRealEstateJointVentures	-3349000	USD
CY2012Q3	us-gaap	Interest And Debt Expense InterestAndDebtExpense	18423000	USD
CY2011Q3	us-gaap	Interest And Debt Expense InterestAndDebtExpense	17196000	USD
	us-gaap	Interest And Debt Expense InterestAndDebtExpense	50739000	USD
CY2012Q3	us-gaap	Litigation Reserve LitigationReserve	1800000	USD
	dei	Document Period End Date DocumentPeriodEndDate	2012-09-30
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q3
	us-gaap	Nature Of Operations NatureOfOperations	<table style="font-size:10pt; font-family:'Times New Roman',times,serif;"> <tr> <td> <p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">1.</font></b><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 3pt" size="1">              </font></b><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt" size="2">ORGANIZATION</font></b></p> <p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"> </font></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Extra Space Storage Inc. (the “Company”) is a self-administered and self-managed real estate investment trust (“REIT”), formed as a Maryland corporation on April 30, 2004, to own, operate, manage, acquire, develop and redevelop professionally managed self-storage facilities located throughout the United States. The Company continues the business of Extra Space Storage LLC and its subsidiaries, which had engaged in the self-storage business since 1977. The Company’s interest in its properties is held through its operating partnership, Extra Space Storage LP (the “Operating Partnership”), which was formed on May 5, 2004. The Company’s primary assets are general partner and limited partner interests in the Operating Partnership. This structure is commonly referred to as an umbrella partnership REIT (“UPREIT”). The Company has elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended.  To the extent the Company continues to qualify as a REIT, it will not be subject to tax, with certain limited exceptions, on the taxable income that is distributed to its stockholders.</font></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"> </font></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">The Company invests in self-storage facilities by acquiring or developing wholly-owned facilities or by acquiring an equity interest in real estate entities.  At September 30, 2012, the Company had direct and indirect equity interests in 720 operating storage facilities.  In addition, the Company managed 190 properties for franchisees and third parties, bringing the total number of operating properties which it owns and/or manages to 910.  These properties are located in 34 states, Washington, D.C. and Puerto Rico.</font></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"> </font></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">The Company operates in three distinct segments: (1) property management, acquisition and development; (2) rental operations; and (3) tenant reinsurance. The Company’s property management, acquisition and development activities include managing, acquiring, developing and selling self-storage facilities. The rental operations activities include rental operations of self-storage facilities. No single tenant accounts for more than 5% of rental income.  Tenant reinsurance activities include the reinsurance of risks relating to the loss of goods stored by tenants in the Company’s self-storage facilities.</font></p></td></tr></table>
	us-gaap	Basis Of Accounting BasisOfAccounting	<table style="font-size:10pt; font-family:'Times New Roman',times,serif;"> <tr> <td> <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman',times,serif"> <tr> <td> <p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">2.</font></b><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 3pt" size="1">              </font></b><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt" size="2">BASIS OF PRESENTATION</font></b></p> <p style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.5in"> </p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">The accompanying unaudited condensed consolidated financial statements of the Company are presented on the accrual basis of accounting in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information, and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they may not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (including normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2012, are not necessarily indicative of results that may be expected for the year ending December 31, 2012. The condensed consolidated balance sheet as of December 31, 2011, has been derived from the Company’s audited financial statements as of that date, but does not include all of the information and footnotes required by GAAP for complete financial statements. For further information refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011, as filed with the Securities and Exchange Commission.</font></p> <p style="MARGIN: 0in 0in 0pt"> </p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Certain amounts in the 2011 financial statements and supporting note disclosures have been reclassified to conform to the current period presentation. Such reclassifications did not impact previously reported net income or accumulated deficit.</font></p></td></tr></table></td></tr></table>
CY2012Q3	us-gaap	Number Of Real Estate Properties NumberOfRealEstateProperties	720	property
CY2012Q3	exr	Number Of Real Estate Properties Franchisees And Others NumberOfRealEstatePropertiesFranchiseesAndOthers	190	property
CY2012Q3	exr	Number Of Real Estate Properties Owned And Or Managed NumberOfRealEstatePropertiesOwnedAndOrManaged	910	property
CY2012Q3	us-gaap	Number Of States In Which Entity Operates NumberOfStatesInWhichEntityOperates	34	state
	exr	Reporting Segments Number ReportingSegmentsNumber	3	segment
	exr	Maximum Percentage Of Rental Income Accounted For By Single Tenant MaximumPercentageOfRentalIncomeAccountedForBySingleTenant	0.05	pure
	dei	Entity Registrant Name EntityRegistrantName	Extra Space Storage Inc.
	dei	Entity Central Index Key EntityCentralIndexKey	0001289490
	dei	Document Type DocumentType	10-Q
	dei	Amendment Flag AmendmentFlag	false
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2012
CY2012Q3	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	15223	shares
CY2011Q3	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	120634	shares
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	54959	shares
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	106726	shares
	us-gaap	Minority Interest In Net Income Loss Preferred Unit Holders MinorityInterestInNetIncomeLossPreferredUnitHolders	5108000	USD
	us-gaap	Minority Interest In Net Income Loss Preferred Unit Holders MinorityInterestInNetIncomeLossPreferredUnitHolders	4682000	USD
CY2012Q3	exr	Minority Interest In Net Income Loss Operating Partnerships And Other MinorityInterestInNetIncomeLossOperatingPartnershipsAndOther	1142000	USD
CY2012Q3	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	-2938000	USD
CY2011Q3	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	-2092000	USD
	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	-5846000	USD
CY2012Q3	exr	Income Loss Attributable To Noncontrolling Interest Fixed Component IncomeLossAttributableToNoncontrollingInterestFixedComponent	1438000	USD
CY2011Q3	exr	Income Loss Attributable To Noncontrolling Interest Fixed Component IncomeLossAttributableToNoncontrollingInterestFixedComponent	1438000	USD
	exr	Income Loss Attributable To Noncontrolling Interest Fixed Component IncomeLossAttributableToNoncontrollingInterestFixedComponent	4313000	USD
CY2012Q3	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	40106000	USD
CY2011Q3	exr	Minority Interest In Net Income Loss Operating Partnerships And Other MinorityInterestInNetIncomeLossOperatingPartnershipsAndOther	493000	USD
CY2011Q3	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	15915000	USD
CY2012Q4	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	104322649	shares
	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	35704000	USD
	exr	Stock Issued During Period Value Settlement Of Exchangeable Senior Notes StockIssuedDuringPeriodValueSettlementOfExchangeableSeniorNotes	7000	USD
CY2012Q3	exr	Incremental Common Shares Attributable To Conversion Of Operating Partnership Units IncrementalCommonSharesAttributableToConversionOfOperatingPartnershipUnits	3060467	shares
CY2011Q3	exr	Incremental Common Shares Attributable To Conversion Of Operating Partnership Units IncrementalCommonSharesAttributableToConversionOfOperatingPartnershipUnits	3049935	shares
	exr	Incremental Common Shares Attributable To Conversion Of Operating Partnership Units IncrementalCommonSharesAttributableToConversionOfOperatingPartnershipUnits	3060467	shares
	exr	Incremental Common Shares Attributable To Conversion Of Operating Partnership Units IncrementalCommonSharesAttributableToConversionOfOperatingPartnershipUnits	3049935	shares
CY2012Q3	exr	Incremental Common Shares Attributable To Conversion Of Preferred Operating Partnership Units IncrementalCommonSharesAttributableToConversionOfPreferredOperatingPartnershipUnits	989980	shares
CY2011Q3	exr	Incremental Common Shares Attributable To Conversion Of Preferred Operating Partnership Units IncrementalCommonSharesAttributableToConversionOfPreferredOperatingPartnershipUnits	989980	shares
	exr	Incremental Common Shares Attributable To Conversion Of Preferred Operating Partnership Units IncrementalCommonSharesAttributableToConversionOfPreferredOperatingPartnershipUnits	989980	shares
	exr	Incremental Common Shares Attributable To Conversion Of Preferred Operating Partnership Units IncrementalCommonSharesAttributableToConversionOfPreferredOperatingPartnershipUnits	989980	shares
CY2012Q3	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	452642	shares
CY2011Q3	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	513459	shares
	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	500889	shares
	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	549114	shares
	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	3318000	USD
	exr	Partner Capital Account Units Issued PartnerCapitalAccountUnitsIssued	429000	USD
	exr	Minority Interest Decrease From Cash Redemptions MinorityInterestDecreaseFromCashRedemptions	155000	USD
CY2012Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.37
CY2011Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.16
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.37
CY2012Q2	exr	Notes Receivable Acquired Number NotesReceivableAcquiredNumber	2	item
	exr	Variable Interest Entity Qualify Number VariableInterestEntityQualifyNumber	2	item
	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	74213000	USD
CY2010Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	46750000	USD
CY2011Q3	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	33895000	USD
	us-gaap	Noncash Or Part Noncash Divestiture Amount Of Consideration Received1 NoncashOrPartNoncashDivestitureAmountOfConsiderationReceived1	3349000	USD
	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	-7563000	USD
	exr	Income Loss Attributable To Noncontrolling Interest Fixed Component IncomeLossAttributableToNoncontrollingInterestFixedComponent	4313000	USD
	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	84483000	USD
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.81
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.80
CY2011Q3	us-gaap	Real Estate Revenue Net RealEstateRevenueNet	84097000	USD
	us-gaap	Real Estate Revenue Net RealEstateRevenueNet	295729000	USD
	us-gaap	Real Estate Revenue Net RealEstateRevenueNet	236618000	USD
CY2012Q3	us-gaap	Costs And Expenses CostsAndExpenses	66307000	USD
CY2011Q3	us-gaap	Costs And Expenses CostsAndExpenses	52882000	USD
	us-gaap	Costs And Expenses CostsAndExpenses	181600000	USD
	us-gaap	Costs And Expenses CostsAndExpenses	155521000	USD
	exr	Minority Interest In Net Income Loss Operating Partnerships And Other MinorityInterestInNetIncomeLossOperatingPartnershipsAndOther	2475000	USD
	exr	Minority Interest In Net Income Loss Operating Partnerships And Other MinorityInterestInNetIncomeLossOperatingPartnershipsAndOther	1156000	USD
CY2012Q3	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	38606000	USD
CY2011Q3	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	15261000	USD
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	81233000	USD
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	34171000	USD
CY2012Q3	us-gaap	Due From Related Parties DueFromRelatedParties	10930000	USD
CY2011Q4	us-gaap	Due From Related Parties DueFromRelatedParties	18517000	USD
CY2012Q3	us-gaap	Other Assets OtherAssets	71786000	USD
CY2011Q4	us-gaap	Other Assets OtherAssets	51276000	USD
CY2012Q3	us-gaap	Assets Assets	3012922000	USD
CY2012Q3	us-gaap	Accounts Payable And Accrued Liabilities Current And Noncurrent AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent	49609000	USD
CY2011Q4	us-gaap	Accounts Payable And Accrued Liabilities Current And Noncurrent AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent	45079000	USD
CY2012Q3	us-gaap	Other Liabilities OtherLiabilities	43034000	USD
CY2011Q4	us-gaap	Other Liabilities OtherLiabilities	33754000	USD
CY2012Q3	us-gaap	Liabilities Liabilities	1682770000	USD
CY2011Q4	us-gaap	Liabilities Liabilities	1442489000	USD
	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	32139000	USD
	us-gaap	Interest And Debt Expense InterestAndDebtExpense	52792000	USD
CY2011Q4	us-gaap	Assets Assets	2516250000	USD
CY2012Q3	exr	Gain Loss On Sale Of Real Estate Assets And Purchase Of Partners Interest GainLossOnSaleOfRealEstateAssetsAndPurchaseOfPartnersInterest	13620000	USD
	exr	Gain Loss On Sale Of Real Estate Assets And Purchase Of Partners Interest GainLossOnSaleOfRealEstateAssetsAndPurchaseOfPartnersInterest	19049000	USD
	exr	Gain Loss On Purchase Of Joint Venture Partners Interest GainLossOnPurchaseOfJointVenturePartnersInterest	13499000	USD
	exr	Sale Of Joint Venture Real Estate And Purchase Of Joint Venture Partners Interests Textblock SaleOfJointVentureRealEstateAndPurchaseOfJointVenturePartnersInterestsTextblock	<table style="font-size:10pt; font-family:'Times New Roman',times,serif;"> <tr> <td> <p style="MARGIN: 0in 0in 0pt 0.25in; TEXT-INDENT: -0.25in"><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">13.</font></b><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 3pt" size="1">       </font></b><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt" size="2">EQUITY IN EARNINGS OF REAL ESTATE VENTURES — GAIN ON SALE OF JOINT VENTURE REAL ESTATE ASSETS AND PURCHASE OF JOINT VENTURE PARTNER’S INTEREST</font></b></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"> </font></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">On January 15, 2012, the Company sold its 40% equity interest in U-Storage de Mexico S.A. and related entities to its joint venture partners for $4,841. The Company received cash of $1,492 and a note receivable of $3,349. No gain or loss was recorded on the sale.</font></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"> </font></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">On February 17, 2012, a joint venture in which the Company held a 40% equity interest sold its only self-storage property.  The property was located in New York.  As a result of the sale, the joint venture was dissolved, and the Company received cash proceeds which resulted in a gain of $5,550.</font></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2"> </font></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">On July 2, 2012, the Company completed the acquisition of PREI®’s 94.9% interest in PRISA III.  PRISA III was formed in 2005 and owned 36 properties located in 18 states.  Prior to the acquisition, the remaining 5.1% interest was owned by the Company, which accounted for its investment in PRISA III using the equity method.  Subsequent to the acquisition, the Company had full ownership.  GAAP requires an entity that completes a business combination in stages to remeasure its previously held equity interest in the acquiree at its acquisition date fair value and recognize the resulting gain or loss, if any, in earnings. The Company recorded a gain of $13,499 related to this transaction, which represents the increase in fair value of the Company’s 5.1% interest in PRISA III from the formation of the joint venture to the acquisition date.</font></p></td></tr></table>

Files In Submission

Name	View Source	Status
0001104659-12-074013-index-headers.html	Edgar Link	pending
0001104659-12-074013-index.html	Edgar Link	pending
0001104659-12-074013.txt	Edgar Link	pending
0001104659-12-074013-xbrl.zip	Edgar Link	pending
a12-19892_110q.htm	Edgar Link	pending
a12-19892_1ex31d1.htm	Edgar Link	pending
a12-19892_1ex31d2.htm	Edgar Link	pending
a12-19892_1ex32d1.htm	Edgar Link	pending
exr-20120930.xml	Edgar Link	completed
exr-20120930.xsd	Edgar Link	pending
exr-20120930_cal.xml	Edgar Link	unprocessable
exr-20120930_def.xml	Edgar Link	unprocessable
exr-20120930_lab.xml	Edgar Link	unprocessable
exr-20120930_pre.xml	Edgar Link	unprocessable
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xls	Edgar Link	pending
R1.htm	Edgar Link	pending
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report.css	Edgar Link	pending
Show.js	Edgar Link	pending

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$EXR
Extra Space Storage Inc. Stock $exr

2012 Q4 Form 10-Q Financial Statement

#000110465912074013 Filed on November 05, 2012

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$EXR Extra Space Storage Inc. Stock $exr

2012 Q4 Form 10-Q Financial Statement

#000110465912074013 Filed on November 05, 2012

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$EXR
Extra Space Storage Inc. Stock $exr