2024 Q2 Form 10-Q Financial Statement

#000162828024020317 Filed on May 03, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $810.7M $799.5M
YoY Change 58.52% 58.94%
Cost Of Revenue $196.9M $204.5M
YoY Change 71.76% 74.55%
Gross Profit $613.8M $595.0M
YoY Change 54.7% 54.2%
Gross Profit Margin 75.71% 74.42%
Selling, General & Admin $39.90M $43.72M
YoY Change 14.52% 25.77%
% of Gross Profit 6.5% 7.35%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $194.8M $197.0M
YoY Change 146.33% 150.94%
% of Gross Profit 31.74% 33.1%
Operating Expenses $234.7M $240.7M
YoY Change 106.02% 112.52%
Operating Profit $304.8M $335.8M
YoY Change 11.5% 27.43%
Interest Expense -$99.51M $132.9M
YoY Change -215.21% 65.9%
% of Operating Profit -32.65% 39.57%
Other Income/Expense, Net
YoY Change
Pretax Income $188.0M $215.8M
YoY Change -9.63% 6.37%
Income Tax $9.844M $6.742M
% Of Pretax Income 5.24% 3.12%
Net Earnings $185.9M $213.1M
YoY Change -8.17% 8.56%
Net Earnings / Revenue 22.93% 26.65%
Basic Earnings Per Share $0.88 $1.01
Diluted Earnings Per Share $0.88 $1.01
COMMON SHARES
Basic Shares Outstanding 211.7M shares 211.6M shares
Diluted Shares Outstanding 211.6M shares 220.0M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $76.97M $50.82M
YoY Change 51.99% 5.97%
Cash & Equivalents $76.97M $50.82M
Short-Term Investments
Other Short-Term Assets $92.61M $75.61M
YoY Change 38.06% 36.05%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $333.6M $263.6M
YoY Change 183.41% 154.62%
LONG-TERM ASSETS
Property, Plant & Equipment $48.29M $49.20M
YoY Change 13.2% 12.55%
Goodwill $170.8M $170.8M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $1.365B $1.366B
YoY Change 24.26% 42.79%
Other Assets $4.571M $4.570M
YoY Change 101.45% 83.46%
Total Long-Term Assets $27.43B $27.22B
YoY Change 123.95% 126.25%
TOTAL ASSETS
Total Short-Term Assets $333.6M $263.6M
Total Long-Term Assets $27.43B $27.22B
Total Assets $27.76B $27.48B
YoY Change 124.51% 126.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $381.9M $338.0M
YoY Change 79.81% 89.74%
Accrued Expenses $229.0M $232.7M
YoY Change 0.3% -0.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $611.0M $570.7M
YoY Change 38.62% 38.38%
LONG-TERM LIABILITIES
Long-Term Debt $11.50B $11.16B
YoY Change 53.42% 52.18%
Other Long-Term Liabilities $525.0M $462.9M
YoY Change 32.38% 30.11%
Total Long-Term Liabilities $12.02B $11.62B
YoY Change 52.36% 51.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $611.0M $570.7M
Total Long-Term Liabilities $12.02B $11.62B
Total Liabilities $12.63B $12.19B
YoY Change 51.63% 50.51%
SHAREHOLDERS EQUITY
Retained Earnings -$667.7M -$510.2M
YoY Change 279.48% 219.73%
Common Stock $14.81B $14.78B
YoY Change 337.65% 337.53%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $14.17B $14.30B
YoY Change
Total Liabilities & Shareholders Equity $27.76B $27.48B
YoY Change 124.51% 126.5%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $185.9M $213.1M
YoY Change -8.17% 8.56%
Depreciation, Depletion And Amortization $194.8M $197.0M
YoY Change 146.33% 150.94%
Cash From Operating Activities $545.2M $465.6M
YoY Change 56.73% 65.3%
INVESTING ACTIVITIES
Capital Expenditures $102.9M $133.5M
YoY Change 0.3% 96.32%
Acquisitions
YoY Change
Other Investing Activities -$379.8M -$148.6M
YoY Change 125.18% 709.73%
Cash From Investing Activities -$482.7M -$282.1M
YoY Change 77.95% 226.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -36.39M -$233.2M
YoY Change -50.93% -3.88%
NET CHANGE
Cash From Operating Activities 545.2M $465.6M
Cash From Investing Activities -482.7M -$282.1M
Cash From Financing Activities -36.39M -$233.2M
Net Change In Cash 26.16M -$49.70M
YoY Change 958.6% 5.08%
FREE CASH FLOW
Cash From Operating Activities $545.2M $465.6M
Capital Expenditures $102.9M $133.5M
Free Cash Flow $442.4M $332.1M
YoY Change 80.33% 55.42%

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CY2023Q1 exr Noncontrolling Interest Increase Decrease From Redemptions Of Operating Partnership Units
NoncontrollingInterestIncreaseDecreaseFromRedemptionsOfOperatingPartnershipUnits
116336000 usd
CY2024Q1 exr Redemption Of Operating Partnership Units Held By Noncontrolling Interest Including Additional Paid In Capital
RedemptionOfOperatingPartnershipUnitsHeldByNoncontrollingInterestIncludingAdditionalPaidInCapital
-26527000 usd
CY2023Q1 exr Redemption Of Operating Partnership Units Held By Noncontrolling Interest Including Additional Paid In Capital
RedemptionOfOperatingPartnershipUnitsHeldByNoncontrollingInterestIncludingAdditionalPaidInCapital
-11336000 usd
CY2024Q1 exr Noncontrolling Interests In Operating Partnership Note Receivable Payoff
NoncontrollingInterestsInOperatingPartnershipNoteReceivablePayoff
0 usd
CY2023Q1 exr Noncontrolling Interests In Operating Partnership Note Receivable Payoff
NoncontrollingInterestsInOperatingPartnershipNoteReceivablePayoff
-100000000 usd
CY2024Q1 exr Operating Partnership Unit Redemption Cash Proceeds
OperatingPartnershipUnitRedemptionCashProceeds
0 usd
CY2023Q1 exr Operating Partnership Unit Redemption Cash Proceeds
OperatingPartnershipUnitRedemptionCashProceeds
5000000 usd
CY2024Q1 exr Conversion Of Stock Amount Converted Net
ConversionOfStockAmountConvertedNet
3536000 usd
CY2023Q1 exr Conversion Of Stock Amount Converted Net
ConversionOfStockAmountConvertedNet
33403000 usd
CY2024Q1 exr Redemption Of Operating Partnership Units For Common Stock Including Additional Paid In Capital
RedemptionOfOperatingPartnershipUnitsForCommonStockIncludingAdditionalPaidInCapital
3536000 usd
CY2023Q1 exr Redemption Of Operating Partnership Units For Common Stock Including Additional Paid In Capital
RedemptionOfOperatingPartnershipUnitsForCommonStockIncludingAdditionalPaidInCapital
33403000 usd
CY2024Q1 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 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, 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 March 31, 2024, the Company had direct and indirect equity interests in 2,384 stores. In addition, the Company managed 1,409 stores for third parties, bringing the total number of stores which it owns and/or manages to 3,793. These stores are located in 42 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>
CY2024Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
2384 store
CY2024Q1 exr Number Of Real Estate Properties Franchisees And Others
NumberOfRealEstatePropertiesFranchiseesAndOthers
1409 store
CY2024Q1 exr Number Of Real Estate Properties Owned And Or Managed
NumberOfRealEstatePropertiesOwnedAndOrManaged
3793 store
CY2024Q1 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
42 state
CY2024Q1 exr Number Of Real Estate Properties Acquired
NumberOfRealEstatePropertiesAcquired
6 store
CY2024Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
35084000 usd
CY2024Q1 exr Noncash Or Part Noncash Acquisition Finance Lease Liability
NoncashOrPartNoncashAcquisitionFinanceLeaseLiability
0 usd
CY2024Q1 exr Asset Acquisition Consideration Transferred Investment In Real Estate Joint Ventures
AssetAcquisitionConsiderationTransferredInvestmentInRealEstateJointVentures
0 usd
CY2024Q1 us-gaap Asset Acquisition Consideration Transferred Other Assets
AssetAcquisitionConsiderationTransferredOtherAssets
-171000 usd
CY2024Q1 exr Real Estate Property Asset Acquisition Consideration Transferred Equity Interest Issued Or Issuable
RealEstatePropertyAssetAcquisitionConsiderationTransferredEquityInterestIssuedOrIssuable
0 usd
CY2024Q1 us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
35255000 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
CY2024Q1 us-gaap Land
Land
4911431000 usd
CY2023Q4 us-gaap Land
Land
4904705000 usd
CY2024Q1 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
21769745000 usd
CY2023Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
21664224000 usd
CY2024Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
140871000 usd
CY2023Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
143842000 usd
CY2024Q1 exr Real Estate Investment Property Intangible Tenant Relationships
RealEstateInvestmentPropertyIntangibleTenantRelationships
321215000 usd
CY2023Q4 exr Real Estate Investment Property Intangible Tenant Relationships
RealEstateInvestmentPropertyIntangibleTenantRelationships
321019000 usd
CY2024Q1 exr Real Estate Investment Property Intangible Lease Rights
RealEstateInvestmentPropertyIntangibleLeaseRights
27743000 usd
CY2023Q4 exr Real Estate Investment Property Intangible Lease Rights
RealEstateInvestmentPropertyIntangibleLeaseRights
27743000 usd
CY2024Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
27171005000 usd
CY2023Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
27061533000 usd
CY2024Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
2802341000 usd
CY2023Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
2624405000 usd
CY2024Q1 exr Net Operating Real Estate Assets
NetOperatingRealEstateAssets
24368664000 usd
CY2023Q4 exr Net Operating Real Estate Assets
NetOperatingRealEstateAssets
24437128000 usd
CY2024Q1 us-gaap Development In Process
DevelopmentInProcess
126012000 usd
CY2023Q4 us-gaap Development In Process
DevelopmentInProcess
118745000 usd
CY2024Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
24494676000 usd
CY2023Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
24555873000 usd
CY2024Q1 us-gaap Goodwill
Goodwill
170811000 usd
CY2023Q4 us-gaap Goodwill
Goodwill
170811000 usd
CY2024Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
137170000 usd
CY2023Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
134716000 usd
CY2024Q1 exr Prepaid Expense And Deposits
PrepaidExpenseAndDeposits
75610000 usd
CY2023Q4 exr Prepaid Expense And Deposits
PrepaidExpenseAndDeposits
85153000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
56915000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
66332000 usd
CY2024Q1 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
50000000 usd
CY2023Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
50000000 usd
CY2024Q1 us-gaap Derivative Assets
DerivativeAssets
33645000 usd
CY2023Q4 us-gaap Derivative Assets
DerivativeAssets
26183000 usd
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
49202000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
48697000 usd
CY2024Q1 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
9227000 usd
CY2023Q4 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
9787000 usd
CY2024Q1 us-gaap Restricted Cash
RestrictedCash
4570000 usd
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
6021000 usd
CY2024Q1 us-gaap Other Assets
OtherAssets
587150000 usd
CY2023Q4 us-gaap Other Assets
OtherAssets
597700000 usd
CY2024Q1 exr Average Share Price Per Share
AverageSharePricePerShare
145.80
CY2023Q1 exr Average Share Price Per Share
AverageSharePricePerShare
157.15
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1503096 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
213606 shares
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
213112000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
196304000 usd
CY2024Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
354000 usd
CY2023Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
304000 usd
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
212758000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
196000000 usd
CY2024Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
0 usd
CY2023Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
0 usd
CY2024Q1 exr Net Income Loss Attributable To Noncontrolling Interest In Operating Partnership
NetIncomeLossAttributableToNoncontrollingInterestInOperatingPartnership
8764000 usd
CY2023Q1 exr Net Income Loss Attributable To Noncontrolling Interest In Operating Partnership
NetIncomeLossAttributableToNoncontrollingInterestInOperatingPartnership
12128000 usd
CY2024Q1 exr Income Loss Attributable To Noncontrolling Interest Fixed Component
IncomeLossAttributableToNoncontrollingInterestFixedComponent
0 usd
CY2023Q1 exr Income Loss Attributable To Noncontrolling Interest Fixed Component
IncomeLossAttributableToNoncontrollingInterestFixedComponent
0 usd
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
221522000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
208128000 usd
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
211283335 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
134511273 shares
CY2024Q1 exr Incremental Common Shares Attributable To Conversion Of Operating Partnership Units
IncrementalCommonSharesAttributableToConversionOfOperatingPartnershipUnits
8731738 shares
CY2023Q1 exr Incremental Common Shares Attributable To Conversion Of Operating Partnership Units
IncrementalCommonSharesAttributableToConversionOfOperatingPartnershipUnits
7214649 shares
CY2024Q1 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
0 shares
CY2023Q1 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
0 shares
CY2024Q1 exr Incremental Common Shares Attributable To Share Based Payment Arrangements Stock Options
IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsStockOptions
3704 shares
CY2023Q1 exr Incremental Common Shares Attributable To Share Based Payment Arrangements Stock Options
IncrementalCommonSharesAttributableToShareBasedPaymentArrangementsStockOptions
4406 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
220018777 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
142940384 shares
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.01
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.46
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.01
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.46
CY2024Q1 exr Equity Method Investment Number Of Stores
EquityMethodInvestmentNumberOfStores
472 property
CY2024Q1 exr Investment In Unconsolidated Real Estate Entities Net Of Distributions
InvestmentInUnconsolidatedRealEstateEntitiesNetOfDistributions
994044000 usd
CY2023Q4 exr Investment In Unconsolidated Real Estate Entities Net Of Distributions
InvestmentInUnconsolidatedRealEstateEntitiesNetOfDistributions
1000548000 usd
CY2024Q1 us-gaap Dividends Receivable
DividendsReceivable
6170000 usd
CY2023Q4 us-gaap Dividends Receivable
DividendsReceivable
10042000 usd
CY2024Q1 exr Debt Securities Held To Maturity And Financing Receivable After Allowance For Credit Loss And Interest Receivable
DebtSecuritiesHeldToMaturityAndFinancingReceivableAfterAllowanceForCreditLossAndInterestReceivable
1058506000 usd
CY2023Q4 exr Debt Securities Held To Maturity And Financing Receivable After Allowance For Credit Loss And Interest Receivable
DebtSecuritiesHeldToMaturityAndFinancingReceivableAfterAllowanceForCreditLossAndInterestReceivable
904769000 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
CY2024Q1 exr Financing Receivable Percent Held As Mortgage Receivables
FinancingReceivablePercentHeldAsMortgageReceivables
0.73 rate
CY2024Q1 exr Financing Receivable Extension Option
FinancingReceivableExtensionOption
2 extension_option
CY2024Q1 exr Financing Receivable Extension Term
FinancingReceivableExtensionTerm
P1Y
CY2024Q1 exr Debt Instrument Fixed Rate Debt To Total Debt Rate
DebtInstrumentFixedRateDebtToTotalDebtRate
0.772
CY2024Q1 us-gaap Long Term Debt Percentage Bearing Fixed Interest Rate
LongTermDebtPercentageBearingFixedInterestRate
0.040
CY2024Q1 us-gaap Long Term Debt Percentage Bearing Variable Interest Rate
LongTermDebtPercentageBearingVariableInterestRate
0.065
CY2024Q1 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.045
CY2024Q1 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
21656000 usd
CY2024Q1 us-gaap Derivative Number Of Instruments Held
DerivativeNumberOfInstrumentsHeld
14 derivative
CY2024Q1 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
1384038000 usd
CY2024Q1 exr Derivative With Contingent Features Fair Value Of Asset Liability Net
DerivativeWithContingentFeaturesFairValueOfAssetLiabilityNet
-1170000 usd
CY2024Q1 exr Derivative Termination Value
DerivativeTerminationValue
1170000 usd
CY2023Q3 us-gaap Stock Issued During Period Shares Acquisitions
StockIssuedDuringPeriodSharesAcquisitions
76217359 shares
CY2023Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
148.96
CY2023Q3 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
11353338000 usd
CY2023Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
500000000 usd
CY2023 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2024Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2024Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
500000000 usd
CY2024Q1 us-gaap Minority Interest In Preferred Unit Holders
MinorityInterestInPreferredUnitHolders
218824000 usd
CY2023Q4 us-gaap Minority Interest In Preferred Unit Holders
MinorityInterestInPreferredUnitHolders
222360000 usd
CY2024Q1 exr Notes Receivable Stated Interest Rate
NotesReceivableStatedInterestRate
0.050
CY2024Q1 exr Average Closing Market Price Measurement Period
AverageClosingMarketPriceMeasurementPeriod
P10D
CY2024Q1 exr Average Closing Market Price Measurement Period
AverageClosingMarketPriceMeasurementPeriod
P10D
CY2024Q1 exr Common Stock Average Closing Market Price
CommonStockAverageClosingMarketPrice
141.47
CY2024Q1 us-gaap Preferred Units Outstanding
PreferredUnitsOutstanding
8626449 shares
CY2024Q1 exr Operating Partnership Units Redemption Amount
OperatingPartnershipUnitsRedemptionAmount
1220384000 usd
CY2024Q1 exr Noncontrolling Interest Operating Partnership Units Redeemed For Common Stock
NoncontrollingInterestOperatingPartnershipUnitsRedeemedForCommonStock
259145 shares
CY2023Q1 exr Noncontrolling Interest Operating Partnership Units Redeemed For Common Stock
NoncontrollingInterestOperatingPartnershipUnitsRedeemedForCommonStock
0 shares
CY2024Q1 exr Real Estate Consolidated Joint Ventures Number
RealEstateConsolidatedJointVenturesNumber
9 joint_venture
CY2024Q1 exr Number Of Joint Ventures Owning One Operating Store
NumberOfJointVenturesOwningOneOperatingStore
3 joint_venture
CY2024Q1 exr Number Of Joint Ventures With Property Under Development
NumberOfJointVenturesWithPropertyUnderDevelopment
6 joint_venture
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
30148000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
21384000 usd
CY2024Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
43722000 usd
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
34763000 usd
CY2024Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
196966000 usd
CY2023Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
78490000 usd
CY2024Q1 us-gaap Interest Expense
InterestExpense
132887000 usd
CY2023Q1 us-gaap Interest Expense
InterestExpense
80099000 usd
CY2024Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
10705000 usd
CY2023Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
0 usd
CY2024Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
23573000 usd
CY2023Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
19438000 usd
CY2024Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
15007000 usd
CY2023Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
10305000 usd
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6742000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4308000 usd
CY2024Q1 us-gaap Profit Loss
ProfitLoss
224074000 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
208878000 usd
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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