$EXR
Extra Space Storage Inc. Stock $exr

$exr Overview Financials Valuation SEC Filings Company Website

2018 Q1 Form 10-Q Financial Statement

#000162828018006387 Filed on May 09, 2018

Income Statement

Concept	2018 Q1	2017 Q1
Revenue	$285.5M	$263.0M
YoY Change	8.55%	14.65%
Cost Of Revenue	$72.75M	$66.65M
YoY Change	9.16%	9.05%
Gross Profit	$212.7M	$196.4M
YoY Change	8.34%	16.68%
Gross Profit Margin	74.52%	74.66%
Selling, General & Admin	$21.50M	$18.80M
YoY Change	14.36%	-19.66%
% of Gross Profit	10.11%	9.57%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$51.75M	$49.43M
YoY Change	4.69%	15.23%
% of Gross Profit	24.33%	25.17%
Operating Expenses	$73.20M	$68.20M
YoY Change	7.33%	2.87%
Operating Profit	$133.9M	$124.2M
YoY Change	7.82%	32.66%
Interest Expense	$40.97M	$35.97M
YoY Change	13.89%	14.7%
% of Operating Profit	30.59%	28.96%
Other Income/Expense, Net
YoY Change
Pretax Income	$93.18M	$89.28M
YoY Change	4.36%	43.03%
Income Tax	$1.342M	$3.124M
% Of Pretax Income	1.44%	3.5%
Net Earnings	$88.26M	$82.28M
YoY Change	7.26%	-0.38%
Net Earnings / Revenue	30.91%	31.28%
Basic Earnings Per Share	$0.70	$0.65
Diluted Earnings Per Share	$0.70	$0.64
COMMON SHARES
Basic Shares Outstanding	125.8M shares	125.6M shares
Diluted Shares Outstanding	132.7M shares	132.6M shares

Balance Sheet

Concept	2018 Q1	2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$35.50M	$29.30M
YoY Change	21.16%	-41.16%
Cash & Equivalents	$35.53M	$29.31M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables		$6.300M
Other Receivables		$0.00
Total Short-Term Assets	$35.50M	$35.60M
YoY Change	-0.28%	-45.65%
LONG-TERM ASSETS
Property, Plant & Equipment	$7.172B	$6.771B
YoY Change	5.92%	14.1%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$63.90M	$79.40M
YoY Change	-19.52%	-10.99%
Other Assets	$18.50M	$12.20M
YoY Change	51.64%	-61.88%
Total Long-Term Assets	$7.435B	$6.999B
YoY Change	6.23%	12.41%
TOTAL ASSETS
Total Short-Term Assets	$35.50M	$35.60M
Total Long-Term Assets	$7.435B	$6.999B
Total Assets	$7.471B	$7.034B
YoY Change	6.2%	11.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$108.9M	$77.10M
YoY Change	41.25%	0.0%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$108.9M	$77.10M
YoY Change	41.25%	0.0%
LONG-TERM LIABILITIES
Long-Term Debt	$4.514B	$4.292B
YoY Change	5.19%	16.55%
Other Long-Term Liabilities	$130.7M	$80.00M
YoY Change	63.37%	-25.02%
Total Long-Term Liabilities	$4.645B	$4.372B
YoY Change	6.26%	15.38%
TOTAL LIABILITIES
Total Short-Term Liabilities	$108.9M	$77.10M
Total Long-Term Liabilities	$4.645B	$4.372B
Total Liabilities	$4.754B	$4.449B
YoY Change	6.87%	15.07%
SHAREHOLDERS EQUITY
Retained Earnings	-$263.4M	-$355.2M
YoY Change	-25.85%	8.02%
Common Stock	$2.552B	$2.568B
YoY Change	-0.65%	2.42%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$2.344B	$2.236B
YoY Change
Total Liabilities & Shareholders Equity	$7.471B	$7.034B
YoY Change	6.2%	11.81%

Cashflow Statement

Concept	2018 Q1	2017 Q1
OPERATING ACTIVITIES
Net Income	$88.26M	$82.28M
YoY Change	7.26%	-0.38%
Depreciation, Depletion And Amortization	$51.75M	$49.43M
YoY Change	4.69%	15.23%
Cash From Operating Activities	$171.6M	$113.1M
YoY Change	51.7%	18.49%
INVESTING ACTIVITIES
Capital Expenditures	-$88.40M	-$45.70M
YoY Change	93.44%	-81.14%
Acquisitions
YoY Change
Other Investing Activities	$57.40M	$43.90M
YoY Change	30.75%	-367.68%
Cash From Investing Activities	-$30.93M	-$1.743M
YoY Change	1674.41%	-99.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net		$0.00
YoY Change		-100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-$172.7M	-$127.6M
YoY Change	35.34%	-193.02%
NET CHANGE
Cash From Operating Activities	$171.6M	$113.1M
Cash From Investing Activities	-$30.93M	-$1.743M
Cash From Financing Activities	-$172.7M	-$127.6M
Net Change In Cash	-$31.98M	-$16.20M
YoY Change	97.41%	-37.8%
FREE CASH FLOW
Cash From Operating Activities	$171.6M	$113.1M
Capital Expenditures	-$88.40M	-$45.70M
Free Cash Flow	$260.0M	$158.8M
YoY Change	63.71%	-52.98%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2018Q1	dei	Amendment Flag AmendmentFlag	false
CY2018Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2018Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2018Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2018
CY2018Q1	dei	Document Period End Date DocumentPeriodEndDate	2018-03-31
CY2018Q1	dei	Document Type DocumentType	10-Q
CY2018Q1	dei	Entity Central Index Key EntityCentralIndexKey	0001289490
CY2018Q2	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	126109268	shares
CY2018Q1	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
CY2018Q1	dei	Entity Registrant Name EntityRegistrantName	Extra Space Storage Inc.
CY2018Q1	dei	Trading Symbol TradingSymbol	EXR
CY2017Q1	exr	Amortization Of Debt Discount Premium Equity Component Of Senior Notes AmortizationOfDebtDiscountPremiumEquityComponentOfSeniorNotes	1269000	USD
CY2018Q1	exr	Amortization Of Debt Discount Premium Equity Component Of Senior Notes AmortizationOfDebtDiscountPremiumEquityComponentOfSeniorNotes	1209000	USD
CY2018Q1	exr	Average Closing Market Price Measurement Period AverageClosingMarketPriceMeasurementPeriod	P10D
CY2017Q1	exr	Average Share Price Per Share AverageSharePricePerShare	75.47
CY2018Q1	exr	Average Share Price Per Share AverageSharePricePerShare	84.11
CY2018Q1	exr	Basis Of Exchange Operating Partnership Units For Common Stock BasisOfExchangeOperatingPartnershipUnitsForCommonStock	one-for-one basis
CY2017Q4	exr	Cash Distributions In Unconsolidated Real Estate Ventures CashDistributionsInUnconsolidatedRealEstateVentures	5816000	USD
CY2018Q1	exr	Cash Distributions In Unconsolidated Real Estate Ventures CashDistributionsInUnconsolidatedRealEstateVentures	43273000	USD
CY2017Q1	exr	Cash Portion Of Redemption Of Preferred Operating Partnership Units CashPortionOfRedemptionOfPreferredOperatingPartnershipUnits	1754000	USD
CY2018Q1	exr	Cash Portion Of Redemption Of Preferred Operating Partnership Units CashPortionOfRedemptionOfPreferredOperatingPartnershipUnits	2558000	USD
CY2018Q1	exr	Common Stock Average Closing Market Price CommonStockAverageClosingMarketPrice	85.37
CY2017Q1	exr	Construction In Progress Additions Portion Not Yet Paid ConstructionInProgressAdditionsPortionNotYetPaid	990000	USD
CY2018Q1	exr	Construction In Progress Additions Portion Not Yet Paid ConstructionInProgressAdditionsPortionNotYetPaid	1381000	USD
CY2017Q1	exr	Construction In Progress And Capital Expenditures Incurred But Not Paid ConstructionInProgressAndCapitalExpendituresIncurredButNotPaid	5787000	USD
CY2018Q1	exr	Construction In Progress And Capital Expenditures Incurred But Not Paid ConstructionInProgressAndCapitalExpendituresIncurredButNotPaid	1907000	USD
CY2017Q1	exr	Conversion Of Units Estimated Issuance Of Shares ConversionOfUnitsEstimatedIssuanceOfShares	2019926	shares
CY2018Q1	exr	Conversion Of Units Estimated Issuance Of Shares ConversionOfUnitsEstimatedIssuanceOfShares	1945123	shares
CY2017Q1	exr	Income Loss Attributable To Noncontrolling Interest Fixed Component IncomeLossAttributableToNoncontrollingInterestFixedComponent	-1271000	USD
CY2018Q1	exr	Income Loss Attributable To Noncontrolling Interest Fixed Component IncomeLossAttributableToNoncontrollingInterestFixedComponent	-572000	USD
CY2017Q1	exr	Incremental Common Shares Attributable To Conversion Of Operating Partnership Units IncrementalCommonSharesAttributableToConversionOfOperatingPartnershipUnits	5596191	shares
CY2018Q1	exr	Incremental Common Shares Attributable To Conversion Of Operating Partnership Units IncrementalCommonSharesAttributableToConversionOfOperatingPartnershipUnits	5663370	shares
CY2017Q1	exr	Incremental Common Shares Attributable To Share Based Payment Arrangements Stock Options IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsStockOptions	541570	shares
CY2018Q1	exr	Incremental Common Shares Attributable To Share Based Payment Arrangements Stock Options IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsStockOptions	371271	shares
CY2017Q1	exr	Management Fees Revenue And Other Income ManagementFeesRevenueAndOtherIncome	8660000	USD
CY2018Q1	exr	Management Fees Revenue And Other Income ManagementFeesRevenueAndOtherIncome	10565000	USD
CY2017Q1	exr	Minority Interest In Net Income Loss Operating Partnerships And Other MinorityInterestInNetIncomeLossOperatingPartnershipsAndOther	3501000	USD
CY2018Q1	exr	Minority Interest In Net Income Loss Operating Partnerships And Other MinorityInterestInNetIncomeLossOperatingPartnershipsAndOther	3784000	USD
CY2017Q1	exr	Net Income Loss Attributable To Noncontrolling Interest In Operating Partnership NetIncomeLossAttributableToNoncontrollingInterestInOperatingPartnership	4049000	USD
CY2018Q1	exr	Net Income Loss Attributable To Noncontrolling Interest In Operating Partnership NetIncomeLossAttributableToNoncontrollingInterestInOperatingPartnership	4941000	USD
CY2017Q1	exr	Noncash Or Part Noncash Acquisition Net Real Estate Assets Acquired NoncashOrPartNoncashAcquisitionNetRealEstateAssetsAcquired	25556000	USD
CY2018Q1	exr	Noncash Or Part Noncash Acquisition Net Real Estate Assets Acquired NoncashOrPartNoncashAcquisitionNetRealEstateAssetsAcquired	70787000	USD
CY2017Q1	exr	Noncash Or Part Noncash Acquisition Real Estate Assets Investment In Unconsolidated Real Estate Ventures NoncashOrPartNoncashAcquisitionRealEstateAssetsInvestmentInUnconsolidatedRealEstateVentures	0	USD
CY2018Q1	exr	Noncash Or Part Noncash Acquisition Real Estate Assets Investment In Unconsolidated Real Estate Ventures NoncashOrPartNoncashAcquisitionRealEstateAssetsInvestmentInUnconsolidatedRealEstateVentures	489000	USD
CY2017Q1	exr	Noncashor Part Noncash Acquisition Investments In Unconsolidated Real Estate Ventures Acquired NoncashorPartNoncashAcquisitionInvestmentsInUnconsolidatedRealEstateVenturesAcquired	0	USD
CY2018Q1	exr	Noncashor Part Noncash Acquisition Investments In Unconsolidated Real Estate Ventures Acquired NoncashorPartNoncashAcquisitionInvestmentsInUnconsolidatedRealEstateVenturesAcquired	489000	USD
CY2018Q1	exr	Noncontrolling Interest Increase From Transactions With Other Noncontrolling Interests Net NoncontrollingInterestIncreaseFromTransactionsWithOtherNoncontrollingInterestsNet	120000	USD
CY2017Q4	exr	Noncontrolling Interest Operating Partnership Units Redeemed Cash Paid NoncontrollingInterestOperatingPartnershipUnitsRedeemedCashPaid	1754000	USD
CY2018Q1	exr	Noncontrolling Interest Operating Partnership Units Redeemed Cash Paid NoncontrollingInterestOperatingPartnershipUnitsRedeemedCashPaid	2558000	USD
CY2017Q4	exr	Noncontrolling Interest Operating Partnership Units Redeemed For Cash NoncontrollingInterestOperatingPartnershipUnitsRedeemedForCash	23796	shares
CY2018Q1	exr	Noncontrolling Interest Operating Partnership Units Redeemed For Cash NoncontrollingInterestOperatingPartnershipUnitsRedeemedForCash	30000	shares
CY2018Q1	exr	Noncontrolling Interest Repayment Of Receivable For Preferred Operating Units Pledged As Collateral On Loan NoncontrollingInterestRepaymentOfReceivableForPreferredOperatingUnitsPledgedAsCollateralOnLoan	495000	USD
CY2017Q4	exr	Notes Payable To Trusts NotesPayableToTrusts	117444000	USD
CY2018Q1	exr	Notes Payable To Trusts NotesPayableToTrusts	117475000	USD
CY2018Q1	exr	Number Of Acquired Stores NumberOfAcquiredStores	1	store
CY2017Q1	exr	Number Of Real Estate Properties Acquired NumberOfRealEstatePropertiesAcquired	2	store
CY2018Q1	exr	Number Of Real Estate Properties Acquired NumberOfRealEstatePropertiesAcquired	5	store
CY2018Q1	exr	Number Of Real Estate Properties Franchisees And Others NumberOfRealEstatePropertiesFranchiseesAndOthers	456	store
CY2018Q1	exr	Number Of Real Estate Properties Owned And Or Managed NumberOfRealEstatePropertiesOwnedAndOrManaged	1523	store
CY2018Q1	exr	Numberof Operating Stores Owned Held For Sale NumberofOperatingStoresOwnedHeldForSale	1	store
CY2017Q1	exr	Payments To Acquire Assets Gross PaymentsToAcquireAssetsGross	25541000	USD
CY2018Q1	exr	Payments To Acquire Assets Gross PaymentsToAcquireAssetsGross	70171000	USD
CY2017Q1	exr	Real Estate Additions Portion Not Yet Paid RealEstateAdditionsPortionNotYetPaid	4797000	USD
CY2018Q1	exr	Real Estate Additions Portion Not Yet Paid RealEstateAdditionsPortionNotYetPaid	526000	USD
CY2017Q1	exr	Real Estate Property Acquisition Increase Assets Acquired And Liabilities Assumed Net RealEstatePropertyAcquisitionIncreaseAssetsAcquiredAndLiabilitiesAssumedNet	15000	USD
CY2018Q1	exr	Real Estate Property Acquisition Increase Assets Acquired And Liabilities Assumed Net RealEstatePropertyAcquisitionIncreaseAssetsAcquiredAndLiabilitiesAssumedNet	127000	USD
CY2017Q1	exr	Real Estate Property Asset Acquisition Consideration Transferred RealEstatePropertyAssetAcquisitionConsiderationTransferred	25556000	USD
CY2018Q1	exr	Real Estate Property Asset Acquisition Consideration Transferred RealEstatePropertyAssetAcquisitionConsiderationTransferred	70787000	USD
CY2017Q1	exr	Repayments Of Debt Instruments RepaymentsOfDebtInstruments	187916000	USD
CY2018Q1	exr	Repayments Of Debt Instruments RepaymentsOfDebtInstruments	168204000	USD
CY2017Q1	exr	Return Of Investment Real Estate Ventures ReturnOfInvestmentRealEstateVentures	581000	USD
CY2018Q1	exr	Return Of Investment Real Estate Ventures ReturnOfInvestmentRealEstateVentures	47944000	USD
CY2017Q1	exr	Tenant Reinsurance Expense TenantReinsuranceExpense	3920000	USD
CY2018Q1	exr	Tenant Reinsurance Expense TenantReinsuranceExpense	5607000	USD
CY2018Q1	exr	Variable Interest Entity Interest In Consolidated Joint Ventures Number VariableInterestEntityInterestInConsolidatedJointVenturesNumber	0	joint_venture
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CY2017Q1	us-gaap	Income Loss From Equity Method Investments Net Of Dividends Or Distributions IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions	-1123000	USD
CY2018Q1	us-gaap	Income Loss From Equity Method Investments Net Of Dividends Or Distributions IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions	-1501000	USD
CY2017Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	3124000	USD
CY2018Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	1342000	USD
CY2017Q1	us-gaap	Income Taxes Paid IncomeTaxesPaid	5059000	USD
CY2018Q1	us-gaap	Income Taxes Paid IncomeTaxesPaid	492000	USD
CY2017Q1	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-30069000	USD
CY2018Q1	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	10434000	USD
CY2017Q1	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	-2898000	USD
CY2018Q1	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	737000	USD
CY2017Q1	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	-6359000	USD
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CY2017Q1	us-gaap	Interest Expense InterestExpense	35970000	USD
CY2018Q1	us-gaap	Interest Expense InterestExpense	40966000	USD
CY2017Q1	us-gaap	Interest Expense Debt InterestExpenseDebt	6136000	USD
CY2018Q1	us-gaap	Interest Expense Debt InterestExpenseDebt	5770000	USD
CY2017Q1	us-gaap	Interest Expense Debt Excluding Amortization InterestExpenseDebtExcludingAmortization	4867000	USD
CY2018Q1	us-gaap	Interest Expense Debt Excluding Amortization InterestExpenseDebtExcludingAmortization	4561000	USD
CY2017Q1	us-gaap	Interest Paid Net InterestPaidNet	37570000	USD
CY2018Q1	us-gaap	Interest Paid Net InterestPaidNet	37007000	USD
CY2017Q1	us-gaap	Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet	-12124	USD
CY2018Q1	us-gaap	Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet	-12124000	USD
CY2017Q1	us-gaap	Investment Income Interest InvestmentIncomeInterest	2315000	USD
CY2018Q1	us-gaap	Investment Income Interest InvestmentIncomeInterest	1438000	USD
CY2017Q4	us-gaap	Liabilities Liabilities	4737146000	USD
CY2018Q1	us-gaap	Liabilities Liabilities	4753978000	USD
CY2017Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	7460953000	USD
CY2018Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	7470624000	USD
CY2017Q4	us-gaap	Line Of Credit LineOfCredit	94000000	USD
CY2018Q1	us-gaap	Line Of Credit LineOfCredit	100500000	USD
CY2018Q1	us-gaap	Minority Interest Decrease From Redemptions MinorityInterestDecreaseFromRedemptions	2558000	USD
CY2017Q4	us-gaap	Minority Interest In Operating Partnerships MinorityInterestInOperatingPartnerships	213301000	USD
CY2018Q1	us-gaap	Minority Interest In Operating Partnerships MinorityInterestInOperatingPartnerships	212476000	USD
CY2017Q4	us-gaap	Minority Interest In Preferred Unit Holders MinorityInterestInPreferredUnitHolders	159636000	USD
CY2018Q1	us-gaap	Minority Interest In Preferred Unit Holders MinorityInterestInPreferredUnitHolders	160177000	USD
CY2017Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-127578000	USD
CY2018Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-172660000	USD
CY2017Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-1743000	USD
CY2018Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-30928000	USD
CY2017Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	113121000	USD
CY2018Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	171608000	USD
CY2017Q1	us-gaap	Net Income Loss NetIncomeLoss	82282000	USD
CY2018Q1	us-gaap	Net Income Loss NetIncomeLoss	88256000	USD
CY2017Q1	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	82085000	USD
CY2018Q1	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	88078000	USD
CY2017Q1	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	84863000	USD
CY2018Q1	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	92625000	USD
CY2017Q1	us-gaap	Noncontrolling Interest In Net Income Loss Preferred Unit Holders Redeemable NoncontrollingInterestInNetIncomeLossPreferredUnitHoldersRedeemable	3951000	USD
CY2018Q1	us-gaap	Noncontrolling Interest In Net Income Loss Preferred Unit Holders Redeemable NoncontrollingInterestInNetIncomeLossPreferredUnitHoldersRedeemable	3390000	USD
CY2017Q4	us-gaap	Notes Payable NotesPayable	3738497000	USD
CY2018Q1	us-gaap	Notes Payable NotesPayable	3727744000	USD
CY2018Q1	us-gaap	Number Of Real Estate Properties NumberOfRealEstateProperties	1067	store
CY2017Q1	us-gaap	Number Of Reportable Segments NumberOfReportableSegments	3	segment
CY2018Q1	us-gaap	Number Of Reportable Segments NumberOfReportableSegments	2	segment
CY2018Q1	us-gaap	Number Of States In Which Entity Operates NumberOfStatesInWhichEntityOperates	39	state
CY2017Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	124203000	USD
CY2018Q1	us-gaap	Operating Leases Income Statement Minimum Lease Revenue OperatingLeasesIncomeStatementMinimumLeaseRevenue	247886000	USD
CY2018Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	133912000	USD
CY2017Q1	us-gaap	Operating Leases Income Statement Minimum Lease Revenue OperatingLeasesIncomeStatementMinimumLeaseRevenue	231493000	USD
CY2017Q4	us-gaap	Other Assets OtherAssets	166571000	USD
CY2018Q1	us-gaap	Other Assets OtherAssets	181093000	USD
CY2017Q1	us-gaap	Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax	6334000	USD
CY2018Q1	us-gaap	Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax	23063000	USD
CY2018Q1	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	23063000	USD
CY2017Q4	us-gaap	Other Liabilities OtherLiabilities	81026000	USD
CY2018Q1	us-gaap	Other Liabilities OtherLiabilities	87411000	USD
CY2017Q4	us-gaap	Other Minority Interests OtherMinorityInterests	119000	USD
CY2018Q1	us-gaap	Other Minority Interests OtherMinorityInterests	239000	USD
CY2018Q1	us-gaap	Partners Capital Account Distributions PartnersCapitalAccountDistributions	7909000	USD
CY2017Q1	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	253000	USD
CY2018Q1	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	117000	USD
CY2017Q1	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	98212000	USD
CY2018Q1	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	98327000	USD
CY2017Q1	us-gaap	Payments Of Dividends Minority Interest PaymentsOfDividendsMinorityInterest	8443000	USD
CY2018Q1	us-gaap	Payments Of Dividends Minority Interest PaymentsOfDividendsMinorityInterest	7909000	USD
CY2017Q1	us-gaap	Payments Of Financing Costs PaymentsOfFinancingCosts	0	USD
CY2018Q1	us-gaap	Payments Of Financing Costs PaymentsOfFinancingCosts	58464000	USD
CY2017Q1	us-gaap	Payments To Acquire Equity Method Investments PaymentsToAcquireEquityMethodInvestments	1519000	USD
CY2018Q1	us-gaap	Payments To Acquire Equity Method Investments PaymentsToAcquireEquityMethodInvestments	438000	USD
CY2017Q1	us-gaap	Payments To Acquire Furniture And Fixtures PaymentsToAcquireFurnitureAndFixtures	1292000	USD
CY2018Q1	us-gaap	Payments To Acquire Furniture And Fixtures PaymentsToAcquireFurnitureAndFixtures	1131000	USD
CY2017Q1	us-gaap	Payments To Acquire Real Estate PaymentsToAcquireRealEstate	39136000	USD
CY2018Q1	us-gaap	Payments To Acquire Real Estate PaymentsToAcquireRealEstate	76122000	USD
CY2017Q1	us-gaap	Payments To Develop Real Estate Assets PaymentsToDevelopRealEstateAssets	5246000	USD
CY2018Q1	us-gaap	Payments To Develop Real Estate Assets PaymentsToDevelopRealEstateAssets	11106000	USD
CY2017Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2018Q1	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2017Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	50000000	shares
CY2018Q1	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	50000000	shares
CY2017Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2018Q1	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2017Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2018Q1	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2017Q4	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2018Q1	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2017Q1	us-gaap	Proceeds From Collection Of Notes Receivable ProceedsFromCollectionOfNotesReceivable	44869000	USD
CY2018Q1	us-gaap	Proceeds From Collection Of Notes Receivable ProceedsFromCollectionOfNotesReceivable	9172000	USD
CY2017Q1	us-gaap	Proceeds From Issuance Of Secured Debt ProceedsFromIssuanceOfSecuredDebt	169000000	USD
CY2018Q1	us-gaap	Proceeds From Issuance Of Secured Debt ProceedsFromIssuanceOfSecuredDebt	162000000	USD
CY2017Q1	us-gaap	Proceeds From Minority Shareholders ProceedsFromMinorityShareholders	0	USD
CY2018Q1	us-gaap	Proceeds From Minority Shareholders ProceedsFromMinorityShareholders	120000	USD
CY2017Q1	us-gaap	Proceeds From Sale Of Other Real Estate ProceedsFromSaleOfOtherRealEstate	0	USD
CY2018Q1	us-gaap	Proceeds From Sale Of Other Real Estate ProceedsFromSaleOfOtherRealEstate	753000	USD
CY2017Q1	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	0	USD
CY2018Q1	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	799000	USD
CY2017Q1	us-gaap	Profit Loss ProfitLoss	89734000	USD
CY2018Q1	us-gaap	Profit Loss ProfitLoss	95430000	USD
CY2017Q4	us-gaap	Real Estate Investment Property Net RealEstateInvestmentPropertyNet	7132431000	USD
CY2018Q1	us-gaap	Real Estate Investment Property Net RealEstateInvestmentPropertyNet	7171599000	USD
CY2017Q4	us-gaap	Real Estate Investments Unconsolidated Real Estate And Other Joint Ventures RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures	75907000	USD
CY2018Q1	us-gaap	Real Estate Investments Unconsolidated Real Estate And Other Joint Ventures RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures	63868000	USD
CY2017Q1	us-gaap	Real Estate Revenue Net RealEstateRevenueNet	263008000	USD
CY2018Q1	us-gaap	Real Estate Revenue Net RealEstateRevenueNet	285485000	USD
CY2017Q4	us-gaap	Restricted Cash And Cash Equivalents RestrictedCashAndCashEquivalents	30361000	USD
CY2018Q1	us-gaap	Restricted Cash And Cash Equivalents RestrictedCashAndCashEquivalents	18537000	USD
CY2017Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-253284000	USD
CY2018Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-263355000	USD
CY2017Q1	us-gaap	Share Based Compensation ShareBasedCompensation	1990000	USD
CY2018Q1	us-gaap	Share Based Compensation ShareBasedCompensation	2726000	USD
CY2018Q1	us-gaap	Stock Issued During Period Value Restricted Stock Award Forfeitures StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures	0	USD
CY2018Q1	us-gaap	Stock Issued During Period Value Restricted Stock Award Gross StockIssuedDuringPeriodValueRestrictedStockAwardGross	0	USD
CY2018Q1	us-gaap	Stock Issued During Period Value Stock Options Exercised StockIssuedDuringPeriodValueStockOptionsExercised	799000	USD
CY2018Q1	us-gaap	Stock Repurchased During Period Value StockRepurchasedDuringPeriodValue	21000000	USD
CY2017Q4	us-gaap	Stockholders Equity StockholdersEquity	2350751000	USD
CY2018Q1	us-gaap	Stockholders Equity StockholdersEquity	2343754000	USD
CY2017Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	2723807000	USD
CY2018Q1	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	2716646000	USD
CY2017Q1	us-gaap	Undistributed Earnings UndistributedEarnings	197000	USD
CY2018Q1	us-gaap	Undistributed Earnings UndistributedEarnings	178000	USD
CY2017Q1	us-gaap	Undistributed Earnings Diluted UndistributedEarningsDiluted	0	USD
CY2018Q1	us-gaap	Undistributed Earnings Diluted UndistributedEarningsDiluted	178000	USD
CY2017Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	132618644	shares
CY2017Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	132619000	shares
CY2018Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	132683000	shares
CY2018Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	132682560	shares
CY2017Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	125605403	shares
CY2018Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	125772439	shares
CY2018Q1	us-gaap	Nature Of Operations NatureOfOperations	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">ORGANIZATION</font></div><div style="line-height:120%;padding-top:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Extra Space Storage Inc. (the “Company”) is a fully integrated, 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 properties ("stores") located throughout the United States. The Company was formed to continue 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 stores 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, or UPREIT. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company invests in stores by acquiring wholly-owned stores or by acquiring an equity interest in real estate entities. At </font><font style="font-family:inherit;font-size:10pt;">March 31, 2018</font><font style="font-family:inherit;font-size:10pt;">, the Company had direct and indirect equity interests in </font><font style="font-family:inherit;font-size:10pt;">1,067</font><font style="font-family:inherit;font-size:10pt;"> stores. In addition, the Company managed </font><font style="font-family:inherit;font-size:10pt;">456</font><font style="font-family:inherit;font-size:10pt;"> stores for third parties, bringing the total number of stores which it owns and/or manages to </font><font style="font-family:inherit;font-size:10pt;">1,523</font><font style="font-family:inherit;font-size:10pt;">. These stores are located in </font><font style="font-family:inherit;font-size:10pt;">39</font><font style="font-family:inherit;font-size:10pt;"> states, Washington, D.C. and Puerto Rico. The Company also offers tenant reinsurance at its owned and managed stores that insures the value of goods in the storage units.</font></div></div>
CY2018Q1	us-gaap	Revenue Recognition Services Management Fees RevenueRecognitionServicesManagementFees	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company's management fees are earned subject to the terms of the related management services agreements ("MSAs"). These MSAs provide that the Company will perform management services, which include leasing and operating the property and providing accounting, marketing, banking and maintenance services. These services are provided in exchange for monthly management fees, which are based on a percentage of revenues collected from stores owned by third parties and unconsolidated joint ventures. MSAs generally have original terms from three to five years, after which management services are provided on a month-to-month basis unless terminated. Management fees are due on the last day of each calendar month that management services are provided.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company accounts for the management services provided to a customer as a single performance obligation which are rendered over time each month. The total amount of consideration from the contract is variable as it is based on monthly revenues each month. The variable amount of management fees earned is dependent on the revenue and cash collected at the managed stores. Revenue is influenced by multiple factors, including tenant behavior, economic conditions in the markets in which the stores are located, the effect of competition, and other factors outside of the Company's control. Since the management fee is dependent on revenue levels, the MSAs have a large number and broad range of possible consideration amounts that are difficult to estimate. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The total consideration for each contract cannot be estimated as it is dependent on factors outside of the Company's control. The uncertainty about the amount of consideration to be received under each MSA cannot be resolved until the actual revenues and cash collected by the related managed stores is known. The total consideration for each MSA is not known until the end of that MSA's term. One month of uncertainty regarding the consideration amount is resolved as each month passes and the actual revenues for that month can be determined. Therefore, at the end of each month, the Company allocates the actual management fee earned to the distinct services provided during that month and recognizes it as revenue as the uncertainty regarding the amount of revenues for that month has been resolved.</font></div></div>

Files In Submission

Name	View Source	Status
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0001628280-18-006387.txt	Edgar Link	pending
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$EXR
Extra Space Storage Inc. Stock $exr

2018 Q1 Form 10-Q Financial Statement

#000162828018006387 Filed on May 09, 2018

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$EXR Extra Space Storage Inc. Stock $exr

2018 Q1 Form 10-Q Financial Statement

#000162828018006387 Filed on May 09, 2018

Income Statement

Balance Sheet

Cashflow Statement

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Files In Submission

$EXR
Extra Space Storage Inc. Stock $exr