2023 Q3 Form 10-Q Financial Statement

#000162828023028613 Filed on August 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $748.0M $511.4M
YoY Change 49.94% 7.66%
Cost Of Revenue $185.2M $114.6M
YoY Change 61.63% 9.96%
Gross Profit $562.8M $396.7M
YoY Change 46.45% 7.02%
Gross Profit Margin 75.24% 77.58%
Selling, General & Admin $37.40M $34.84M
YoY Change 15.88% 11.49%
% of Gross Profit 6.64% 8.78%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $152.3M $79.09M
YoY Change 113.29% 14.51%
% of Gross Profit 27.07% 19.93%
Operating Expenses $189.7M $113.9M
YoY Change 82.94% 13.57%
Operating Profit $299.8M $273.3M
YoY Change 11.09% -0.84%
Interest Expense $122.9M $86.37M
YoY Change 118.51% 81.97%
% of Operating Profit 40.99% 31.6%
Other Income/Expense, Net
YoY Change
Pretax Income $190.8M $208.0M
YoY Change -17.68% -14.48%
Income Tax $6.944M $5.986M
% Of Pretax Income 3.64% 2.88%
Net Earnings $188.4M $202.4M
YoY Change -14.67% -12.8%
Net Earnings / Revenue 25.18% 39.58%
Basic Earnings Per Share $0.96 $1.50
Diluted Earnings Per Share $0.96 $1.50
COMMON SHARES
Basic Shares Outstanding 211.3M shares 135.0M shares
Diluted Shares Outstanding 195.3M shares 143.5M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $216.0M $50.64M
YoY Change 148.3% -13.77%
Cash & Equivalents $216.1M $50.64M
Short-Term Investments
Other Short-Term Assets $94.00M $67.08M
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $442.0M $117.7M
YoY Change 408.1% 100.45%
LONG-TERM ASSETS
Property, Plant & Equipment $45.63M $42.66M
YoY Change 6.82% 22.64%
Goodwill $170.8M $170.8M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $1.378B $1.099B
YoY Change 48.29% 22.33%
Other Assets $7.000M $2.269M
YoY Change -4.93% -80.16%
Total Long-Term Assets $27.18B $12.25B
YoY Change 131.28% 11.55%
TOTAL ASSETS
Total Short-Term Assets $442.0M $117.7M
Total Long-Term Assets $27.18B $12.25B
Total Assets $27.63B $12.37B
YoY Change 133.31% 12.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $430.0M $212.4M
YoY Change 124.92% 23.56%
Accrued Expenses $242.0M $228.3M
YoY Change 3.49% -4.22%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $672.0M $440.8M
YoY Change 58.11% 7.42%
LONG-TERM LIABILITIES
Long-Term Debt $10.95B $7.493B
YoY Change 56.6% 17.3%
Other Long-Term Liabilities $434.0M $396.5M
YoY Change 23.02% 14.09%
Total Long-Term Liabilities $11.39B $7.889B
YoY Change 54.99% 17.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $672.0M $440.8M
Total Long-Term Liabilities $11.39B $7.889B
Total Liabilities $12.06B $8.330B
YoY Change 55.17% 16.58%
SHAREHOLDERS EQUITY
Retained Earnings -$252.9M -$175.9M
YoY Change 81.6% 10.59%
Common Stock $14.75B $3.385B
YoY Change 341.3% 1.47%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $14.54B $3.256B
YoY Change
Total Liabilities & Shareholders Equity $27.63B $12.37B
YoY Change 133.31% 12.02%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $188.4M $202.4M
YoY Change -14.67% -12.8%
Depreciation, Depletion And Amortization $152.3M $79.09M
YoY Change 113.29% 14.51%
Cash From Operating Activities $408.5M $347.9M
YoY Change 32.79% -1.43%
INVESTING ACTIVITIES
Capital Expenditures $102.8M $102.6M
YoY Change -114.71% -139.67%
Acquisitions
YoY Change
Other Investing Activities -$1.176B -$168.7M
YoY Change -4513.62% -11.28%
Cash From Investing Activities -$1.279B -$271.2M
YoY Change 90.19% -39.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.040B -74.16M
YoY Change 167.58% -179.54%
NET CHANGE
Cash From Operating Activities 408.5M 347.9M
Cash From Investing Activities -1.279B -271.2M
Cash From Financing Activities 1.040B -74.16M
Net Change In Cash 170.3M 2.471M
YoY Change 604.07% -198.84%
FREE CASH FLOW
Cash From Operating Activities $408.5M $347.9M
Capital Expenditures $102.8M $102.6M
Free Cash Flow $305.7M $245.3M
YoY Change -69.63% -59.88%

Facts In Submission

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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, which meets the definition of a variable interest entity and is consolidated. 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 June 30, 2023, the Company had direct and indirect equity interests in 1,460 stores. In addition, the Company managed 978 stores for third parties, bringing the total number of stores which it owns and/or manages to 2,438. 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>
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41 state
CY2023Q2 exr Number Of Operating Stores Held For Sale
NumberOfOperatingStoresHeldForSale
0 store
CY2023Q2 us-gaap Land
Land
2371918000 usd
CY2022Q4 us-gaap Land
Land
2356746000 usd
CY2023Q2 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
9579378000 usd
CY2022Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
9425468000 usd
CY2023Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
141861000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
136259000 usd
CY2023Q2 exr Real Estate Investment Property Intangible Tenant Relationships
RealEstateInvestmentPropertyIntangibleTenantRelationships
152735000 usd
CY2022Q4 exr Real Estate Investment Property Intangible Tenant Relationships
RealEstateInvestmentPropertyIntangibleTenantRelationships
152775000 usd
CY2023Q2 exr Real Estate Investment Property Intangible Lease Rights
RealEstateInvestmentPropertyIntangibleLeaseRights
12943000 usd
CY2022Q4 exr Real Estate Investment Property Intangible Lease Rights
RealEstateInvestmentPropertyIntangibleLeaseRights
12943000 usd
CY2023Q2 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
12258835000 usd
CY2022Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
12084191000 usd
CY2023Q2 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
2295568000 usd
CY2022Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
2138524000 usd
CY2023Q2 exr Net Operating Real Estate Assets
NetOperatingRealEstateAssets
9963267000 usd
CY2022Q4 exr Net Operating Real Estate Assets
NetOperatingRealEstateAssets
9945667000 usd
CY2023Q2 us-gaap Development In Process
DevelopmentInProcess
54084000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
232130000 usd
us-gaap Net Income Loss
NetIncomeLoss
398714000 usd
us-gaap Net Income Loss
NetIncomeLoss
435709000 usd
CY2023Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
323000 usd
CY2022Q4 us-gaap Development In Process
DevelopmentInProcess
52311000 usd
CY2023Q2 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
10017351000 usd
CY2022Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
9997978000 usd
CY2023Q2 us-gaap Goodwill
Goodwill
170811000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
170811000 usd
CY2023Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
99971000 usd
CY2022Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
85937000 usd
CY2023Q2 exr Prepaid Expense And Deposits
PrepaidExpenseAndDeposits
67078000 usd
CY2022Q4 exr Prepaid Expense And Deposits
PrepaidExpenseAndDeposits
50318000 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
42657000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
42808000 usd
CY2023Q2 us-gaap Derivative Assets
DerivativeAssets
51235000 usd
CY2022Q4 us-gaap Derivative Assets
DerivativeAssets
54839000 usd
CY2023Q2 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
4382000 usd
CY2022Q4 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
4846000 usd
CY2023Q2 us-gaap Restricted Cash
RestrictedCash
2269000 usd
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
4867000 usd
CY2023Q2 us-gaap Other Assets
OtherAssets
438403000 usd
CY2022Q4 us-gaap Other Assets
OtherAssets
414426000 usd
CY2023Q2 exr Average Share Price Per Share
AverageSharePricePerShare
150.45
CY2022Q2 exr Average Share Price Per Share
AverageSharePricePerShare
185.25
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
223118 shares
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
183807 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
218259 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1258275 shares
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
202410000 usd
CY2022Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
313000 usd
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
627000 usd
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
601000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
202087000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
231817000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
398087000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
435108000 usd
CY2023Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
-323000 usd
CY2022Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
0 usd
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
-627000 usd
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
0 usd
CY2023Q2 exr Net Income Loss Attributable To Noncontrolling Interest In Operating Partnership
NetIncomeLossAttributableToNoncontrollingInterestInOperatingPartnership
12441000 usd
CY2022Q2 exr Net Income Loss Attributable To Noncontrolling Interest In Operating Partnership
NetIncomeLossAttributableToNoncontrollingInterestInOperatingPartnership
15201000 usd
exr Net Income Loss Attributable To Noncontrolling Interest In Operating Partnership
NetIncomeLossAttributableToNoncontrollingInterestInOperatingPartnership
24569000 usd
exr Net Income Loss Attributable To Noncontrolling Interest In Operating Partnership
NetIncomeLossAttributableToNoncontrollingInterestInOperatingPartnership
24978000 usd
CY2023Q2 exr Income Loss Attributable To Noncontrolling Interest Fixed Component
IncomeLossAttributableToNoncontrollingInterestFixedComponent
0 usd
CY2022Q2 exr Income Loss Attributable To Noncontrolling Interest Fixed Component
IncomeLossAttributableToNoncontrollingInterestFixedComponent
572000 usd
exr Income Loss Attributable To Noncontrolling Interest Fixed Component
IncomeLossAttributableToNoncontrollingInterestFixedComponent
0 usd
exr Income Loss Attributable To Noncontrolling Interest Fixed Component
IncomeLossAttributableToNoncontrollingInterestFixedComponent
1144000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
214851000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
246446000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
423283000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
458942000 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
134832232 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
134192540 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
134672672 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
134186426 shares
CY2023Q2 exr Incremental Common Shares Attributable To Conversion Of Operating Partnership Units
IncrementalCommonSharesAttributableToConversionOfOperatingPartnershipUnits
7214649 shares
CY2022Q2 exr Incremental Common Shares Attributable To Conversion Of Operating Partnership Units
IncrementalCommonSharesAttributableToConversionOfOperatingPartnershipUnits
6545104 shares
exr Incremental Common Shares Attributable To Conversion Of Operating Partnership Units
IncrementalCommonSharesAttributableToConversionOfOperatingPartnershipUnits
7214649 shares
exr Incremental Common Shares Attributable To Conversion Of Operating Partnership Units
IncrementalCommonSharesAttributableToConversionOfOperatingPartnershipUnits
6533010 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
221380 shares
CY2022Q2 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
0 shares
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
212723 shares
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
0 shares
CY2023Q2 exr Incremental Common Shares Attributable To Share Based Payment Arrangements Stock Options
IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsStockOptions
4190 shares
CY2022Q2 exr Incremental Common Shares Attributable To Share Based Payment Arrangements Stock Options
IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsStockOptions
5144 shares
exr Incremental Common Shares Attributable To Share Based Payment Arrangements Stock Options
IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsStockOptions
4300 shares
exr Incremental Common Shares Attributable To Share Based Payment Arrangements Stock Options
IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsStockOptions
5290 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
143529817 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
142737909 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
143337522 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
141600206 shares
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.50
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.73
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.96
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.24
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.50
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.73
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.95
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.24
CY2023Q2 exr Number Of Real Estate Properties Acquired
NumberOfRealEstatePropertiesAcquired
3 store
CY2023Q2 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
32888000 usd
CY2023Q2 exr Noncash Or Part Noncash Acquisition Finance Lease Liability
NoncashOrPartNoncashAcquisitionFinanceLeaseLiability
0 usd
CY2023Q2 exr Asset Acquisition Consideration Transferred Investment In Real Estate Joint Ventures
AssetAcquisitionConsiderationTransferredInvestmentInRealEstateJointVentures
0 usd
CY2023Q2 us-gaap Asset Acquisition Consideration Transferred Other Assets
AssetAcquisitionConsiderationTransferredOtherAssets
-26000 usd
CY2023Q2 exr Real Estate Property Asset Acquisition Consideration Transferred Equity Interest Issued Or Issuable
RealEstatePropertyAssetAcquisitionConsiderationTransferredEquityInterestIssuedOrIssuable
0 usd
CY2023Q2 us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
32914000 usd
CY2023Q1 exr Number Of Real Estate Properties Acquired
NumberOfRealEstatePropertiesAcquired
1 store
CY2023Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
13111000 usd
CY2023Q1 exr Noncash Or Part Noncash Acquisition Finance Lease Liability
NoncashOrPartNoncashAcquisitionFinanceLeaseLiability
0 usd
CY2023Q1 exr Asset Acquisition Consideration Transferred Investment In Real Estate Joint Ventures
AssetAcquisitionConsiderationTransferredInvestmentInRealEstateJointVentures
0 usd
CY2023Q1 us-gaap Asset Acquisition Consideration Transferred Other Assets
AssetAcquisitionConsiderationTransferredOtherAssets
-6000 usd
CY2023Q1 exr Real Estate Property Asset Acquisition Consideration Transferred Equity Interest Issued Or Issuable
RealEstatePropertyAssetAcquisitionConsiderationTransferredEquityInterestIssuedOrIssuable
0 usd
CY2023Q1 us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
13117000 usd
exr Number Of Real Estate Properties Acquired
NumberOfRealEstatePropertiesAcquired
4 store
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
45999000 usd
exr Noncash Or Part Noncash Acquisition Finance Lease Liability
NoncashOrPartNoncashAcquisitionFinanceLeaseLiability
0 usd
exr Asset Acquisition Consideration Transferred Investment In Real Estate Joint Ventures
AssetAcquisitionConsiderationTransferredInvestmentInRealEstateJointVentures
0 usd
us-gaap Asset Acquisition Consideration Transferred Other Assets
AssetAcquisitionConsiderationTransferredOtherAssets
-32000 usd
exr Real Estate Property Asset Acquisition Consideration Transferred Equity Interest Issued Or Issuable
RealEstatePropertyAssetAcquisitionConsiderationTransferredEquityInterestIssuedOrIssuable
0 usd
us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
46031000 usd
CY2022Q2 exr Number Of Real Estate Properties Acquired
NumberOfRealEstatePropertiesAcquired
15 store
CY2022Q2 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
220933000 usd
CY2022Q2 exr Noncash Or Part Noncash Acquisition Finance Lease Liability
NoncashOrPartNoncashAcquisitionFinanceLeaseLiability
6823000 usd
CY2022Q2 exr Asset Acquisition Consideration Transferred Investment In Real Estate Joint Ventures
AssetAcquisitionConsiderationTransferredInvestmentInRealEstateJointVentures
0 usd
CY2022Q2 us-gaap Asset Acquisition Consideration Transferred Other Assets
AssetAcquisitionConsiderationTransferredOtherAssets
-811000 usd
CY2022Q2 exr Real Estate Property Asset Acquisition Consideration Transferred Equity Interest Issued Or Issuable
RealEstatePropertyAssetAcquisitionConsiderationTransferredEquityInterestIssuedOrIssuable
0 usd
CY2022Q2 us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
228567000 usd
CY2022Q1 exr Number Of Real Estate Properties Acquired
NumberOfRealEstatePropertiesAcquired
14 store
CY2022Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
185910000 usd
CY2022Q1 exr Noncash Or Part Noncash Acquisition Finance Lease Liability
NoncashOrPartNoncashAcquisitionFinanceLeaseLiability
0 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
exr Number Of Real Estate Properties Acquired
NumberOfRealEstatePropertiesAcquired
29 store
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
406843000 usd
exr Noncash Or Part Noncash Acquisition Finance Lease Liability
NoncashOrPartNoncashAcquisitionFinanceLeaseLiability
6823000 usd
exr Asset Acquisition Consideration Transferred Investment In Real Estate Joint Ventures
AssetAcquisitionConsiderationTransferredInvestmentInRealEstateJointVentures
747000 usd
us-gaap Asset Acquisition Consideration Transferred Other Assets
AssetAcquisitionConsiderationTransferredOtherAssets
-1085000 usd
exr Real Estate Property Asset Acquisition Consideration Transferred Equity Interest Issued Or Issuable
RealEstatePropertyAssetAcquisitionConsiderationTransferredEquityInterestIssuedOrIssuable
40965000 usd
us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
456463000 usd
CY2022 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
1930816000 usd
CY2021 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
1592021000 usd
CY2023Q2 exr Equity Method Investment Number Of Stores
EquityMethodInvestmentNumberOfStores
323 property
CY2023Q2 exr Investment In Unconsolidated Real Estate Entities Net Of Distributions
InvestmentInUnconsolidatedRealEstateEntitiesNetOfDistributions
678592000 usd
CY2022Q4 exr Investment In Unconsolidated Real Estate Entities Net Of Distributions
InvestmentInUnconsolidatedRealEstateEntitiesNetOfDistributions
515060000 usd
us-gaap Payments To Acquire Real Estate And Real Estate Joint Ventures
PaymentsToAcquireRealEstateAndRealEstateJointVentures
20686000 usd
exr Equity Method Investments Number Of Stores Acquired
EquityMethodInvestmentsNumberOfStoresAcquired
5 store
CY2023Q2 us-gaap Dividends Receivable
DividendsReceivable
50835000 usd
CY2022Q4 us-gaap Dividends Receivable
DividendsReceivable
66170000 usd
CY2023Q2 exr Debt Securities Held To Maturity And Financing Receivable After Allowance For Credit Loss And Interest Receivable
DebtSecuritiesHeldToMaturityAndFinancingReceivableAfterAllowanceForCreditLossAndInterestReceivable
891190000 usd
CY2022Q4 exr Debt Securities Held To Maturity And Financing Receivable After Allowance For Credit Loss And Interest Receivable
DebtSecuritiesHeldToMaturityAndFinancingReceivableAfterAllowanceForCreditLossAndInterestReceivable
858049000 usd
CY2020Q4 us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
300000000 usd
CY2020Q4 exr Debt Securities Held To Maturity Term
DebtSecuritiesHeldToMaturityTerm
P6Y
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
P6Y
CY2023Q2 exr Financing Receivable Extension Option
FinancingReceivableExtensionOption
2 extension_option
exr Financing Receivable Extension Term
FinancingReceivableExtensionTerm
P1Y
CY2023Q2 exr Debt Instrument Fixed Rate Debt To Total Debt Rate
DebtInstrumentFixedRateDebtToTotalDebtRate
0.734
CY2023Q2 us-gaap Long Term Debt Percentage Bearing Fixed Interest Rate
LongTermDebtPercentageBearingFixedInterestRate
0.038
CY2023Q2 us-gaap Long Term Debt Percentage Bearing Variable Interest Rate
LongTermDebtPercentageBearingVariableInterestRate
0.064
CY2023Q2 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.045
CY2023Q2 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
34219000 usd
CY2023Q2 us-gaap Derivative Number Of Instruments Held
DerivativeNumberOfInstrumentsHeld
17 derivative
CY2023Q2 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
1666265000 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
CY2020Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
400000000 usd
CY2022 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
63008000 usd
CY2022 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
381786 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2023Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
336992000 usd
CY2022Q4 us-gaap Other Receivables
OtherReceivables
100000000 usd
CY2023Q2 us-gaap Minority Interest In Preferred Unit Holders
MinorityInterestInPreferredUnitHolders
222940000 usd
CY2022Q4 us-gaap Minority Interest In Preferred Unit Holders
MinorityInterestInPreferredUnitHolders
261502000 usd
exr Notes Receivable Stated Interest Rate
NotesReceivableStatedInterestRate
0.050
exr Average Closing Market Price Measurement Period
AverageClosingMarketPriceMeasurementPeriod
P10D
exr Average Closing Market Price Measurement Period
AverageClosingMarketPriceMeasurementPeriod
P10D
CY2023Q2 exr Common Stock Average Closing Market Price
CommonStockAverageClosingMarketPrice
145.79
CY2023Q2 us-gaap Preferred Units Outstanding
PreferredUnitsOutstanding
7214649 shares
CY2023Q2 exr Operating Partnership Units Redemption Amount
OperatingPartnershipUnitsRedemptionAmount
1051824000 usd
CY2023Q2 exr Noncontrolling Interest Operating Partnership Units Redeemed For Cash
NoncontrollingInterestOperatingPartnershipUnitsRedeemedForCash
0 shares
CY2022Q2 exr Noncontrolling Interest Operating Partnership Units Redeemed For Cash
NoncontrollingInterestOperatingPartnershipUnitsRedeemedForCash
18028 shares
CY2023Q2 exr Noncontrolling Interest Operating Partnership Units Redeemed Cash Paid
NoncontrollingInterestOperatingPartnershipUnitsRedeemedCashPaid
0 usd
CY2022Q2 exr Noncontrolling Interest Operating Partnership Units Redeemed Cash Paid
NoncontrollingInterestOperatingPartnershipUnitsRedeemedCashPaid
3504000 usd
CY2023Q2 exr Noncontrolling Interest Operating Partnership Units Issued With Acquisition
NoncontrollingInterestOperatingPartnershipUnitsIssuedWithAcquisition
0 shares
CY2022Q2 exr Noncontrolling Interest Operating Partnership Units Issued With Acquisition
NoncontrollingInterestOperatingPartnershipUnitsIssuedWithAcquisition
91743 shares
CY2023Q2 exr Real Estate Consolidated Joint Ventures Number
RealEstateConsolidatedJointVenturesNumber
7 joint_venture
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
22206000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
20517000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
43590000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
40474000 usd
CY2023Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
0 usd
CY2022Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
1465000 usd
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
0 usd
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
1465000 usd
CY2023Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
34842000 usd
CY2022Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
31251000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
69605000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
61013000 usd
CY2023Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
79086000 usd
CY2022Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
69067000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
157576000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
136973000 usd
CY2023Q2 exr Gains Losses On Real Estate Transactions And Earn Out From Prior Acquisition And Sale Of Other Assets
GainsLossesOnRealEstateTransactionsAndEarnOutFromPriorAcquisitionAndSaleOfOtherAssets
0 usd
CY2022Q2 exr Gains Losses On Real Estate Transactions And Earn Out From Prior Acquisition And Sale Of Other Assets
GainsLossesOnRealEstateTransactionsAndEarnOutFromPriorAcquisitionAndSaleOfOtherAssets
14249000 usd
exr Gains Losses On Real Estate Transactions And Earn Out From Prior Acquisition And Sale Of Other Assets
GainsLossesOnRealEstateTransactionsAndEarnOutFromPriorAcquisitionAndSaleOfOtherAssets
0 usd
exr Gains Losses On Real Estate Transactions And Earn Out From Prior Acquisition And Sale Of Other Assets
GainsLossesOnRealEstateTransactionsAndEarnOutFromPriorAcquisitionAndSaleOfOtherAssets
14249000 usd
CY2023Q2 us-gaap Interest Expense
InterestExpense
86372000 usd
CY2022Q2 us-gaap Interest Expense
InterestExpense
47466000 usd
us-gaap Interest Expense
InterestExpense
166471000 usd
us-gaap Interest Expense
InterestExpense
90004000 usd
CY2023Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
21077000 usd
CY2022Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
15060000 usd
us-gaap Investment Income Interest
InvestmentIncomeInterest
40515000 usd
us-gaap Investment Income Interest
InvestmentIncomeInterest
34049000 usd
CY2023Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
13254000 usd
CY2022Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
10190000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
23559000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
19287000 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5986000 usd
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5615000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10294000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8756000 usd
CY2023Q2 us-gaap Profit Loss
ProfitLoss
215312000 usd
CY2022Q2 us-gaap Profit Loss
ProfitLoss
247834000 usd
us-gaap Profit Loss
ProfitLoss
424190000 usd
us-gaap Profit Loss
ProfitLoss
465551000 usd
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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0001628280-23-028613.txt Edgar Link pending
0001628280-23-028613-xbrl.zip Edgar Link pending
exr-20230630.htm Edgar Link pending
exr-20230630.xsd Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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exr-20230630_def.xml Edgar Link unprocessable