2022 Q1 Form 10-Q Financial Statement

#000162828022013050 Filed on May 06, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $443.6M $358.9M
YoY Change 23.6% 7.94%
Cost Of Revenue $103.5M $92.37M
YoY Change 12.1% 2.29%
Gross Profit $340.0M $266.5M
YoY Change 27.59% 10.05%
Gross Profit Margin 76.66% 74.26%
Selling, General & Admin $29.76M $23.50M
YoY Change 26.65% 2.17%
% of Gross Profit 8.75% 8.82%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $67.91M $58.60M
YoY Change 15.88% 6.01%
% of Gross Profit 19.97% 21.99%
Operating Expenses $97.67M $82.20M
YoY Change 18.82% 4.98%
Operating Profit $235.3M $241.1M
YoY Change -2.39% 53.36%
Interest Expense $42.54M $40.70M
YoY Change 4.53% -8.26%
% of Operating Profit 18.08% 16.88%
Other Income/Expense, Net
YoY Change
Pretax Income $211.8M $212.7M
YoY Change -0.43% 87.72%
Income Tax $3.141M $4.137M
% Of Pretax Income 1.48% 1.95%
Net Earnings $203.6M $203.0M
YoY Change 0.29% 87.65%
Net Earnings / Revenue 45.9% 56.57%
Basic Earnings Per Share $1.52 $1.54
Diluted Earnings Per Share $1.51 $1.53
COMMON SHARES
Basic Shares Outstanding 134.2M shares 132.0M shares
Diluted Shares Outstanding 141.6M shares 139.7M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $65.98M $60.30M
YoY Change 9.42% -35.37%
Cash & Equivalents $65.98M $60.33M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $65.98M $60.30M
YoY Change 9.42% -35.37%
LONG-TERM ASSETS
Property, Plant & Equipment $9.178B $8.183B
YoY Change 12.15% 2.94%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $821.2M $33.88M
YoY Change 2324.03% -90.11%
Other Assets $6.688M $2.500M
YoY Change 167.52% -45.65%
Total Long-Term Assets $10.53B $9.276B
YoY Change 13.47% 9.7%
TOTAL ASSETS
Total Short-Term Assets $65.98M $60.30M
Total Long-Term Assets $10.53B $9.276B
Total Assets $10.59B $9.337B
YoY Change 13.44% 9.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $136.9M $129.0M
YoY Change 6.09% 11.11%
Accrued Expenses $242.8M $243.0M
YoY Change -0.07% -10.07%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $379.7M $372.0M
YoY Change 2.07% -3.7%
LONG-TERM LIABILITIES
Long-Term Debt $6.013B $5.300B
YoY Change 13.44% 3.41%
Other Long-Term Liabilities $321.2M $349.6M
YoY Change -8.12% 33.03%
Total Long-Term Liabilities $6.334B $5.650B
YoY Change 12.1% 4.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $379.7M $372.0M
Total Long-Term Liabilities $6.334B $5.650B
Total Liabilities $6.714B $6.022B
YoY Change 11.49% 4.28%
SHAREHOLDERS EQUITY
Retained Earnings -$127.2M -$284.4M
YoY Change -55.28% -21.48%
Common Stock $3.331B $3.284B
YoY Change 1.44% 14.24%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.210B $2.922B
YoY Change
Total Liabilities & Shareholders Equity $10.59B $9.337B
YoY Change 13.44% 9.21%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $203.6M $203.0M
YoY Change 0.29% 87.65%
Depreciation, Depletion And Amortization $67.91M $58.60M
YoY Change 15.88% 6.01%
Cash From Operating Activities $287.5M $203.9M
YoY Change 41.0% 7.73%
INVESTING ACTIVITIES
Capital Expenditures -$218.5M -$176.5M
YoY Change 23.8% 278.76%
Acquisitions
YoY Change
Other Investing Activities $97.13M $219.1M
YoY Change -55.67% -1676.26%
Cash From Investing Activities -$121.4M $42.60M
YoY Change -384.94% -170.32%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 -$273.7M
YoY Change -100.0% -624.33%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$169.6M -$311.7M
YoY Change -45.58% 207.13%
NET CHANGE
Cash From Operating Activities $287.5M $203.9M
Cash From Investing Activities -$121.4M $42.60M
Cash From Financing Activities -$169.6M -$311.7M
Net Change In Cash -$3.528M -$65.21M
YoY Change -94.59% -339.78%
FREE CASH FLOW
Cash From Operating Activities $287.5M $203.9M
Capital Expenditures -$218.5M -$176.5M
Free Cash Flow $506.0M $380.4M
YoY Change 33.02% 61.28%

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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3878164000 USD
CY2022Q1 us-gaap Profit Loss
ProfitLoss
217717000 USD
CY2021Q1 us-gaap Profit Loss
ProfitLoss
215501000 USD
CY2022Q1 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
67906000 USD
CY2021Q1 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
58599000 USD
CY2022Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1984000 USD
CY2021Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2286000 USD
CY2022Q1 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
474000 USD
CY2021Q1 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
487000 USD
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
4542000 USD
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3652000 USD
CY2022Q1 exr Noncash Interest Income
NoncashInterestIncome
9951000 USD
CY2021Q1 exr Noncash Interest Income
NoncashInterestIncome
8533000 USD
CY2022Q1 exr Gains Losses On Real Estate Transactions Net Of Impairment Of Real Estate
GainsLossesOnRealEstateTransactionsNetOfImpairmentOfRealEstate
0 USD
CY2021Q1 exr Gains Losses On Real Estate Transactions Net Of Impairment Of Real Estate
GainsLossesOnRealEstateTransactionsNetOfImpairmentOfRealEstate
63883000 USD
CY2022Q1 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
-2795000 USD
CY2021Q1 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
-1863000 USD
CY2022Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
6209000 USD
CY2021Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2737000 USD
CY2022Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-7665000 USD
CY2021Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-2691000 USD
CY2022Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
15872000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
203880000 USD
CY2022Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
195805000 USD
CY2021Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
161752000 USD
CY2022Q1 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
14716000 USD
CY2021Q1 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
14086000 USD
CY2022Q1 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
0 USD
CY2021Q1 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
132733000 USD
CY2022Q1 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
4321000 USD
CY2021Q1 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
250000 USD
CY2022Q1 exr Return Of Investment Real Estate Ventures
ReturnOfInvestmentRealEstateVentures
342000 USD
CY2021Q1 exr Return Of Investment Real Estate Ventures
ReturnOfInvestmentRealEstateVentures
31169000 USD
CY2022Q1 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
134408000 USD
CY2021Q1 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
25772000 USD
CY2022Q1 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
195803000 USD
CY2021Q1 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
0 USD
CY2022Q1 us-gaap Proceeds From Sale Of Notes Receivable
ProceedsFromSaleOfNotesReceivable
39718000 USD
CY2021Q1 us-gaap Proceeds From Sale Of Notes Receivable
ProceedsFromSaleOfNotesReceivable
81250000 USD
CY2022Q1 us-gaap Payments To Acquire Furniture And Fixtures
PaymentsToAcquireFurnitureAndFixtures
7985000 USD
CY2021Q1 us-gaap Payments To Acquire Furniture And Fixtures
PaymentsToAcquireFurnitureAndFixtures
697000 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-121372000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
42595000 USD
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
CY2021Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
273720000 USD
CY2022Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
889829000 USD
CY2021Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
1747000000 USD
CY2022Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
1230924000 USD
CY2021Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
2193409000 USD
CY2022Q1 us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
400000000 USD
CY2021Q1 us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
0 USD
CY2022Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
5842000 USD
CY2021Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1689000 USD
CY2022Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
CY2021Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4254000 USD
CY2022Q1 exr Cash Portion Of Redemption Of Preferred Operating Partnership Units
CashPortionOfRedemptionOfPreferredOperatingPartnershipUnits
2672000 USD
CY2021Q1 exr Cash Portion Of Redemption Of Preferred Operating Partnership Units
CashPortionOfRedemptionOfPreferredOperatingPartnershipUnits
0 USD
CY2022Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
3375000 USD
CY2021Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
0 USD
CY2022Q1 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
0 USD
CY2021Q1 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
0 USD
CY2022Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
202527000 USD
CY2021Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
132540000 USD
CY2022Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
14110000 USD
CY2021Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
9025000 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-169621000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-311689000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-3528000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-65214000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
76194000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
128009000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
72666000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
62795000 USD
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
43197000 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
44887000 USD
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
703000 USD
CY2021Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1047000 USD
CY2022Q1 exr Noncontrolling Interest Decrease From Redemptions Of Operating Partnership Units
NoncontrollingInterestDecreaseFromRedemptionsOfOperatingPartnershipUnits
0 USD
CY2021Q1 exr Noncontrolling Interest Decrease From Redemptions Of Operating Partnership Units
NoncontrollingInterestDecreaseFromRedemptionsOfOperatingPartnershipUnits
4005000 USD
CY2022Q1 exr Redemption Of Operating Partnership Units Held By Noncontrolling Interest Including Additional Paid In Capital
RedemptionOfOperatingPartnershipUnitsHeldByNoncontrollingInterestIncludingAdditionalPaidInCapital
0 USD
CY2021Q1 exr Redemption Of Operating Partnership Units Held By Noncontrolling Interest Including Additional Paid In Capital
RedemptionOfOperatingPartnershipUnitsHeldByNoncontrollingInterestIncludingAdditionalPaidInCapital
4005000 USD
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1440000 USD
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2369000 USD
CY2022Q1 exr Establishment Of Operating Lease Liability
EstablishmentOfOperatingLeaseLiability
1440000 USD
CY2021Q1 exr Establishment Of Operating Lease Liability
EstablishmentOfOperatingLeaseLiability
2369000 USD
CY2022Q1 exr Noncash Or Part Noncash Acquisition Net Real Estate Assets Acquired
NoncashOrPartNoncashAcquisitionNetRealEstateAssetsAcquired
40492000 USD
CY2021Q1 exr Noncash Or Part Noncash Acquisition Net Real Estate Assets Acquired
NoncashOrPartNoncashAcquisitionNetRealEstateAssetsAcquired
41491000 USD
CY2022Q1 us-gaap Business Combination Consideration Transferred Equity Interests Issued And Issuable
BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable
40965000 USD
CY2021Q1 us-gaap Business Combination Consideration Transferred Equity Interests Issued And Issuable
BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable
0 USD
CY2022Q1 exr Investments In Real Estate Joint Ventures Net Of Distributions Received
InvestmentsInRealEstateJointVenturesNetOfDistributionsReceived
747000 USD
CY2021Q1 exr Investments In Real Estate Joint Ventures Net Of Distributions Received
InvestmentsInRealEstateJointVenturesNetOfDistributionsReceived
0 USD
CY2022Q1 us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
274000 USD
CY2021Q1 us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
0 USD
CY2022Q1 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
0 USD
CY2021Q1 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
41491000 USD
CY2022Q1 exr Real Estate Additions Portion Not Yet Paid
RealEstateAdditionsPortionNotYetPaid
2236000 USD
CY2021Q1 exr Real Estate Additions Portion Not Yet Paid
RealEstateAdditionsPortionNotYetPaid
1723000 USD
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2236000 USD
CY2021Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1723000 USD
CY2022Q1 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
0 USD
CY2021Q1 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
2724000 USD
CY2022Q1 exr Redemption Of Operating Partnership Units For Common Stock Including Additional Paid In Capital
RedemptionOfOperatingPartnershipUnitsForCommonStockIncludingAdditionalPaidInCapital
0 USD
CY2021Q1 exr Redemption Of Operating Partnership Units For Common Stock Including Additional Paid In Capital
RedemptionOfOperatingPartnershipUnitsForCommonStockIncludingAdditionalPaidInCapital
2724000 USD
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 USD
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
40993000 USD
CY2022Q1 exr Establishment Of Finance Lease Liability
EstablishmentOfFinanceLeaseLiability
0 USD
CY2021Q1 exr Establishment Of Finance Lease Liability
EstablishmentOfFinanceLeaseLiability
40993000 USD
CY2022Q1 exr Noncash Investment In Joint Venture
NoncashInvestmentInJointVenture
0 USD
CY2021Q1 exr Noncash Investment In Joint Venture
NoncashInvestmentInJointVenture
33878000 USD
CY2022Q1 exr Real Estate Assets Transferred For Investment In Joint Venture
RealEstateAssetsTransferredForInvestmentInJointVenture
0 USD
CY2021Q1 exr Real Estate Assets Transferred For Investment In Joint Venture
RealEstateAssetsTransferredForInvestmentInJointVenture
33878000 USD
CY2022Q1 us-gaap Nature Of Operations
NatureOfOperations
ORGANIZATION<div style="margin-top:6pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 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. </span></div><div style="text-indent:24.75pt"><span><br/></span></div><div style="text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company invests in stores by acquiring wholly-owned stores or by acquiring an equity interest in real estate entities. At March 31, 2022, the Company had direct and indirect equity interests in 1,283 stores. In addition, the Company managed 847 stores for third parties, bringing the total number of stores which it owns and/or manages to 2,130. These stores are located in 41 states and Washington, D.C. The Company also offers tenant reinsurance at its owned and managed stores that insures the value of goods in the storage units.</span></div>
CY2022Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
1283 store
CY2022Q1 exr Number Of Real Estate Properties Franchisees And Others
NumberOfRealEstatePropertiesFranchiseesAndOthers
847 store
CY2022Q1 exr Number Of Real Estate Properties Owned And Or Managed
NumberOfRealEstatePropertiesOwnedAndOrManaged
2130 store
CY2022Q1 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
41 state
CY2022Q1 exr Number Of Operating Stores Held For Sale
NumberOfOperatingStoresHeldForSale
2 store
CY2022Q1 us-gaap Land
Land
2186751000 USD
CY2021Q4 us-gaap Land
Land
2151319000 USD
CY2022Q1 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
8347651000 USD
CY2021Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
8227094000 USD
CY2022Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
114668000 USD
CY2021Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
117718000 USD
CY2022Q1 exr Real Estate Investment Property Intangible Tenant Relationships
RealEstateInvestmentPropertyIntangibleTenantRelationships
135535000 USD
CY2021Q4 exr Real Estate Investment Property Intangible Tenant Relationships
RealEstateInvestmentPropertyIntangibleTenantRelationships
134577000 USD
CY2022Q1 exr Real Estate Investment Property Intangible Lease Rights
RealEstateInvestmentPropertyIntangibleLeaseRights
12443000 USD
CY2021Q4 exr Real Estate Investment Property Intangible Lease Rights
RealEstateInvestmentPropertyIntangibleLeaseRights
12443000 USD
CY2022Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
10797048000 USD
CY2021Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
10643151000 USD
CY2022Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
1929716000 USD
CY2021Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
1867750000 USD
CY2022Q1 exr Net Operating Real Estate Assets
NetOperatingRealEstateAssets
8867332000 USD
CY2021Q4 exr Net Operating Real Estate Assets
NetOperatingRealEstateAssets
8775401000 USD
CY2022Q1 us-gaap Development In Process
DevelopmentInProcess
73392000 USD
CY2021Q4 us-gaap Development In Process
DevelopmentInProcess
59248000 USD
CY2022Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
8940724000 USD
CY2021Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
8834649000 USD
CY2022Q1 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
23742000 USD
CY2021Q4 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
8436000 USD
CY2022Q1 exr Number Of Operating Stores Held For Sale
NumberOfOperatingStoresHeldForSale
2 store
CY2022Q1 exr Average Share Price Per Share
AverageSharePricePerShare
198.83
CY2021Q1 exr Average Share Price Per Share
AverageSharePricePerShare
121.07
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1216196 shares
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
337839 shares
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
203579000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
202998000 USD
CY2022Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
286000 USD
CY2021Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
312000 USD
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
203293000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
202686000 USD
CY2022Q1 exr Net Income Loss Attributable To Noncontrolling Interest In Operating Partnership
NetIncomeLossAttributableToNoncontrollingInterestInOperatingPartnership
11693000 USD
CY2021Q1 exr Net Income Loss Attributable To Noncontrolling Interest In Operating Partnership
NetIncomeLossAttributableToNoncontrollingInterestInOperatingPartnership
11894000 USD
CY2022Q1 exr Income Loss Attributable To Noncontrolling Interest Fixed Component
IncomeLossAttributableToNoncontrollingInterestFixedComponent
572000 USD
CY2021Q1 exr Income Loss Attributable To Noncontrolling Interest Fixed Component
IncomeLossAttributableToNoncontrollingInterestFixedComponent
572000 USD
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
214414000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
214008000 USD
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
134180175 shares
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
132007556 shares
CY2022Q1 exr Incremental Common Shares Attributable To Conversion Of Operating Partnership Units
IncrementalCommonSharesAttributableToConversionOfOperatingPartnershipUnits
6520781 shares
CY2021Q1 exr Incremental Common Shares Attributable To Conversion Of Operating Partnership Units
IncrementalCommonSharesAttributableToConversionOfOperatingPartnershipUnits
5800729 shares
CY2022Q1 exr Incremental Common Shares Attributable To Share Based Payment Arrangements Stock Options
IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsStockOptions
5426 shares
CY2021Q1 exr Incremental Common Shares Attributable To Share Based Payment Arrangements Stock Options
IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsStockOptions
23409 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
141581862 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
139676548 shares
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.52
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.54
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.51
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.53
CY2022Q1 exr Number Of Real Estate Properties Acquired
NumberOfRealEstatePropertiesAcquired
14 store
CY2022Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
185910000 USD
CY2022Q1 exr Asset Acquisition Consideration Transferred Investment In Real Estate Joint Ventures
AssetAcquisitionConsiderationTransferredInvestmentInRealEstateJointVentures
747000 USD
CY2022Q1 us-gaap Asset Acquisition Consideration Transferred Other Assets
AssetAcquisitionConsiderationTransferredOtherAssets
-274000 USD
CY2022Q1 exr Real Estate Property Asset Acquisition Consideration Transferred Equity Interest Issued Or Issuable
RealEstatePropertyAssetAcquisitionConsiderationTransferredEquityInterestIssuedOrIssuable
40965000 USD
CY2022Q1 us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
227896000 USD
CY2021Q1 exr Number Of Real Estate Properties Acquired
NumberOfRealEstatePropertiesAcquired
9 store
CY2021Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
148940000 USD
CY2021Q1 exr Asset Acquisition Consideration Transferred Investment In Real Estate Joint Ventures
AssetAcquisitionConsiderationTransferredInvestmentInRealEstateJointVentures
0 USD
CY2021Q1 us-gaap Asset Acquisition Consideration Transferred Other Assets
AssetAcquisitionConsiderationTransferredOtherAssets
-2944000 USD
CY2021Q1 exr Real Estate Property Asset Acquisition Consideration Transferred Equity Interest Issued Or Issuable
RealEstatePropertyAssetAcquisitionConsiderationTransferredEquityInterestIssuedOrIssuable
0 USD
CY2021Q1 us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
151884000 USD
CY2022Q1 exr Equity Method Investment Number Of Stores
EquityMethodInvestmentNumberOfStores
288 property
CY2022Q1 exr Investment In Unconsolidated Real Estate Entities Net Of Distributions
InvestmentInUnconsolidatedRealEstateEntitiesNetOfDistributions
410785000 USD
CY2021Q4 exr Investment In Unconsolidated Real Estate Entities Net Of Distributions
InvestmentInUnconsolidatedRealEstateEntitiesNetOfDistributions
393744000 USD
CY2022Q1 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
4321000 USD
CY2022Q1 exr Equity Method Investments Number Of Stores Acquired
EquityMethodInvestmentsNumberOfStoresAcquired
2 store
CY2022Q1 us-gaap Dividends Receivable
DividendsReceivable
45922000 USD
CY2021Q4 us-gaap Dividends Receivable
DividendsReceivable
38066000 USD
CY2022Q1 exr Debt Securities Held To Maturity And Financing Receivable After Allowance For Credit Loss And Interest Receivable
DebtSecuritiesHeldToMaturityAndFinancingReceivableAfterAllowanceForCreditLossAndInterestReceivable
694107000 USD
CY2021Q4 exr Debt Securities Held To Maturity And Financing Receivable After Allowance For Credit Loss And Interest Receivable
DebtSecuritiesHeldToMaturityAndFinancingReceivableAfterAllowanceForCreditLossAndInterestReceivable
719187000 USD
CY2020Q4 us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
300000000 USD
CY2020Q4 exr Debt Securities Held To Maturity Term
DebtSecuritiesHeldToMaturityTerm
P5Y
CY2020Q4 exr Debt Securities Held To Maturity Extension Option
DebtSecuritiesHeldToMaturityExtensionOption
2 extension_option
CY2020Q4 exr Debt Securities Held To Maturity Extension Term
DebtSecuritiesHeldToMaturityExtensionTerm
P1Y
CY2020Q4 exr Debt Securities Held To Maturity Period After Which Preferred Dividends Increase Annually
DebtSecuritiesHeldToMaturityPeriodAfterWhichPreferredDividendsIncreaseAnnually
P5Y
CY2020Q3 exr Notes Receivable Collateral Number Of Facilities
NotesReceivableCollateralNumberOfFacilities
62 store
CY2022Q1 exr Financing Receivable Extension Option
FinancingReceivableExtensionOption
2 extension_option
CY2022Q1 exr Financing Receivable Extension Term
FinancingReceivableExtensionTerm
P1Y
CY2022Q1 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
-5472000 USD
CY2022Q1 us-gaap Derivative Number Of Instruments Held
DerivativeNumberOfInstrumentsHeld
19 derivative
CY2022Q1 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
1934369000 USD
CY2022Q1 exr Derivative With Contingent Features Fair Value Of Asset Liability Net
DerivativeWithContingentFeaturesFairValueOfAssetLiabilityNet
-1743000 USD
CY2022Q1 exr Derivative Instruments With Contingent Features Contingent Cash Settlement Value
DerivativeInstrumentsWithContingentFeaturesContingentCashSettlementValue
1743000 USD
CY2022Q1 us-gaap Stock Issued During Period Shares Acquisitions
StockIssuedDuringPeriodSharesAcquisitions
186766 shares
CY2022Q1 exr Number Of Stores Acquired With Issuance Of Common Stock
NumberOfStoresAcquiredWithIssuanceOfCommonStock
2 store
CY2022Q1 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
40965000 USD
CY2021Q3 exr Number Of Sales Agents
NumberOfSalesAgents
10 sales_agent
CY2021Q1 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
1600000 shares
CY2021Q1 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
129.13
CY2021Q1 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
206572000 USD
CY2020Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
400000000 USD
CY2022Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2021Q4 us-gaap Due From Related Parties Noncurrent
DueFromRelatedPartiesNoncurrent
100000000 USD
CY2022Q1 us-gaap Due From Related Parties Noncurrent
DueFromRelatedPartiesNoncurrent
100000000 USD
CY2022Q1 us-gaap Minority Interest In Preferred Unit Holders
MinorityInterestInPreferredUnitHolders
256051000 USD
CY2021Q4 us-gaap Minority Interest In Preferred Unit Holders
MinorityInterestInPreferredUnitHolders
259110000 USD
CY2022Q1 exr Notes Receivable Stated Interest Rate
NotesReceivableStatedInterestRate
0.050
CY2022Q1 exr Average Closing Market Price Measurement Period
AverageClosingMarketPriceMeasurementPeriod
P10D
CY2022Q1 exr Average Closing Market Price Measurement Period
AverageClosingMarketPriceMeasurementPeriod
P10D
CY2022Q1 exr Common Stock Average Closing Market Price
CommonStockAverageClosingMarketPrice
199.65
CY2022Q1 us-gaap Preferred Units Outstanding
PreferredUnitsOutstanding
6515408 shares
CY2022Q1 exr Operating Partnership Units Redemption Amount
OperatingPartnershipUnitsRedemptionAmount
1300801000 USD
CY2022Q1 exr Noncontrolling Interest Operating Partnership Units Redeemed For Common Stock
NoncontrollingInterestOperatingPartnershipUnitsRedeemedForCommonStock
0 shares
CY2021Q1 exr Noncontrolling Interest Operating Partnership Units Redeemed For Common Stock
NoncontrollingInterestOperatingPartnershipUnitsRedeemedForCommonStock
5000 shares
CY2022Q1 exr Noncontrolling Interest Operating Partnership Units Redeemed For Cash
NoncontrollingInterestOperatingPartnershipUnitsRedeemedForCash
13028 shares
CY2021Q1 exr Noncontrolling Interest Operating Partnership Units Redeemed For Cash
NoncontrollingInterestOperatingPartnershipUnitsRedeemedForCash
0 shares
CY2022Q1 exr Noncontrolling Interest Operating Partnership Units Redeemed Cash Paid
NoncontrollingInterestOperatingPartnershipUnitsRedeemedCashPaid
2672000 USD
CY2021Q1 exr Noncontrolling Interest Operating Partnership Units Redeemed Cash Paid
NoncontrollingInterestOperatingPartnershipUnitsRedeemedCashPaid
0 USD
CY2022Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
19957000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
15645000 USD
CY2022Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
29762000 USD
CY2021Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
23540000 USD
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
67906000 USD
CY2021Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
58599000 USD
CY2022Q1 exr Gains Losses On Real Estate Transactions And Earn Out From Prior Acquisition And Sale Of Other Assets
GainsLossesOnRealEstateTransactionsAndEarnOutFromPriorAcquisitionAndSaleOfOtherAssets
0 USD
CY2021Q1 exr Gains Losses On Real Estate Transactions And Earn Out From Prior Acquisition And Sale Of Other Assets
GainsLossesOnRealEstateTransactionsAndEarnOutFromPriorAcquisitionAndSaleOfOtherAssets
63883000 USD
CY2022Q1 us-gaap Interest Expense
InterestExpense
42538000 USD
CY2021Q1 us-gaap Interest Expense
InterestExpense
40695000 USD
CY2022Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
18989000 USD
CY2021Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
12304000 USD
CY2022Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
9097000 USD
CY2021Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
6956000 USD
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3141000 USD
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4137000 USD
CY2022Q1 us-gaap Profit Loss
ProfitLoss
217717000 USD
CY2021Q1 us-gaap Profit Loss
ProfitLoss
215501000 USD

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