$PSA
Public Storage

2024 Q4 Form 10-Q Financial Statement

#000139331124000193 Filed on October 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $1.188B $1.144B
YoY Change 3.84% 5.12%
Cost Of Revenue $321.7M $288.9M
YoY Change 11.34% 4.3%
Gross Profit $866.1M $854.9M
YoY Change 1.31% 5.4%
Gross Profit Margin 72.92% 74.74%
Selling, General & Admin $26.21M $28.63M
YoY Change -8.42% 0.79%
% of Gross Profit 3.03% 3.35%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $280.3M $238.7M
YoY Change 17.42% 8.14%
% of Gross Profit 32.37% 27.93%
Operating Expenses $306.5M $267.4M
YoY Change 14.65% 7.3%
Operating Profit $559.5M $587.5M
YoY Change -4.76% 4.55%
Interest Expense $74.25M $58.35M
YoY Change 27.25% 71.05%
% of Operating Profit 13.27% 9.93%
Other Income/Expense, Net $2.945M
YoY Change
Pretax Income $435.6M $616.6M
YoY Change -29.35% -77.8%
Income Tax $2.488M $2.834M
% Of Pretax Income 0.57% 0.46%
Net Earnings $430.3M $613.3M
YoY Change -29.83% -77.85%
Net Earnings / Revenue 36.23% 53.62%
Basic Earnings Per Share $2.17 $3.21
Diluted Earnings Per Share $2.16 $3.20
COMMON SHARES
Basic Shares Outstanding 175.1M shares 175.0M shares 175.8M shares
Diluted Shares Outstanding 175.9M shares 176.2M shares

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $599.0M $629.8M
YoY Change -4.89% -28.74%
Cash & Equivalents $599.0M $629.8M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $599.0M $629.8M
YoY Change -4.89% -28.74%
LONG-TERM ASSETS
Property, Plant & Equipment $18.23B $18.27B
YoY Change -0.18% 15.34%
Goodwill $165.8M $165.8M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $397.5M $278.1M
YoY Change 42.91% 10.09%
Other Assets
YoY Change
Total Long-Term Assets $19.20B $19.25B
YoY Change -0.22% 16.17%
TOTAL ASSETS
Total Short-Term Assets $599.0M $629.8M
Total Long-Term Assets $19.20B $19.25B
Total Assets $19.80B $19.88B
YoY Change -0.36% 13.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $619.4M $644.2M
YoY Change -3.85% 9.25%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $619.4M $644.2M
YoY Change -3.85% 9.25%
LONG-TERM LIABILITIES
Long-Term Debt $9.474B $9.030B
YoY Change 4.92% 33.96%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $9.474B $9.030B
YoY Change 4.92% 33.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $619.4M $644.2M
Total Long-Term Liabilities $9.474B $9.030B
Total Liabilities $10.09B $9.674B
YoY Change 4.33% 31.97%
SHAREHOLDERS EQUITY
Retained Earnings -$737.5M -$130.6M
YoY Change 464.75% 6.48%
Common Stock $17.51M $17.55M
YoY Change -0.22% 0.09%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.610B $10.11B
YoY Change
Total Liabilities & Shareholders Equity $19.80B $19.88B
YoY Change -0.36% 13.9%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income $430.3M $613.3M
YoY Change -29.83% -77.85%
Depreciation, Depletion And Amortization $280.3M $238.7M
YoY Change 17.42% 8.14%
Cash From Operating Activities $798.8M $875.7M
YoY Change -8.78% -5.54%
INVESTING ACTIVITIES
Capital Expenditures $216.9M $323.0M
YoY Change -32.84% -164.8%
Acquisitions
YoY Change
Other Investing Activities $3.571M -$2.178B
YoY Change -100.16% -182.29%
Cash From Investing Activities -$213.3M -$2.501B
YoY Change -91.47% -216.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -559.9M 1.604B
YoY Change -134.91% -150.03%
NET CHANGE
Cash From Operating Activities 798.8M 875.7M
Cash From Investing Activities -213.3M -2.501B
Cash From Financing Activities -559.9M 1.604B
Net Change In Cash 25.55M -21.74M
YoY Change -217.54% -83.24%
FREE CASH FLOW
Cash From Operating Activities $798.8M $875.7M
Capital Expenditures $216.9M $323.0M
Free Cash Flow $581.9M $552.7M
YoY Change 5.27% -61.22%

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psa Dividends Common Stock And Restricted Share Units
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us-gaap Profit Loss
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psa Dividends Common Stock And Restricted Share Units
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us-gaap Profit Loss
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us-gaap Depreciation Depletion And Amortization
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us-gaap Depreciation Depletion And Amortization
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us-gaap Income Loss From Equity Method Investments
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us-gaap Income Loss From Equity Method Investments
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us-gaap Equity Method Investment Dividends Or Distributions
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us-gaap Foreign Currency Transaction Gain Loss Unrealized After Tax
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us-gaap Foreign Currency Transaction Gain Loss Unrealized After Tax
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us-gaap Share Based Compensation
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us-gaap Net Cash Provided By Used In Operating Activities
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psa Capital Expenditures To Maintain Real Estate Facilities
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psa Capital Expenditures To Maintain Real Estate Facilities
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psa Capital Expenditures For Property Enhancements
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us-gaap Proceeds From Real Estate And Real Estate Joint Ventures
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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psa Acquisition Of Nonredeemable Noncontrolling Interests In Subsidiaries
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us-gaap Proceeds From Minority Shareholders
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us-gaap Payments Of Capital Distribution
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2023Q3 us-gaap Restricted Cash
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599004000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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660355000 usd
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psa Capital Expenditures To Maintain Real Estate Facilities Remaining Unpaid At Period End
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psa Capital Expenditures For Property Enhancements Remaining Unpaid At Period End
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us-gaap Interest Paid Net
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us-gaap Income Taxes Paid Net
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10840000 usd
us-gaap Nature Of Operations
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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:10.5pt;text-decoration:underline">Description of the Business</span><div style="margin-bottom:12pt;padding-left:18pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Public Storage is a Maryland real estate investment trust (“REIT”) engaged in the ownership and operation of self-storage facilities that offer storage spaces for lease, generally on a month-to-month basis, for personal and business use, ancillary activities such as tenant reinsurance, merchandise sales, and third party management, as well as the acquisition and development of additional self-storage space. </span></div><div style="margin-bottom:12pt;padding-left:18pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Effective August 14, 2023, we are structured as an umbrella partnership REIT, or UPREIT, under which substantially all of our business is conducted through Public Storage OP, L.P. (“PSA OP”), an operating partnership, and its subsidiaries, including Public Storage Operating Company (“PSOC”). The primary assets of the parent entity, Public Storage, are general partner and limited partner interests in PSA OP, which holds all of the Company’s assets through its ownership of all of the equity interests in PSOC. As a limited partnership, PSA OP is a variable interest entity and is consolidated by Public Storage as its primary beneficiary. As of September 30, 2024, Public Storage owned all of the general partner interests and approximately 99.87% of the limited partnership interests of PSA OP, with the remaining 0.13% of limited partnership interests owned by certain trustees and officers of the Company.</span></div><div style="margin-bottom:12pt;padding-left:18pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Unless stated otherwise or the context otherwise requires, references to “Public Storage” mean the parent entity, Public Storage, and references to “the Company,” “we,” “us,” and “our” mean collectively Public Storage, PSA OP, PSOC, and those entities/subsidiaries owned or controlled by Public Storage, PSA OP, and PSOC.</span></div><div style="margin-bottom:12pt;padding-left:18pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At September 30, 2024, we owned interests in 3,053 self-storage facilities (with approximately 219.5 million net rentable square feet) located in 40 states in the United States (“U.S.”) operating under the Public Storage® name, and 1.1 million net rentable square feet of commercial and retail space. In addition, we managed 280 facilities (with approximately 21.0 million net rentable square feet) for third parties at September 30, 2024.</span></div><div style="margin-bottom:12pt;padding-left:18pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At September 30, 2024, we owned an approximate 35% common equity interest in Shurgard Self Storage Limited (“Shurgard”), a public company traded on the Euronext Brussels under the “SHUR” symbol, which owned 315 self-storage facilities (with approximately 17 million net rentable square feet) located in seven Western European countries, all operating under the Shurgard® name.</span></div>
CY2023Q3 psa Real Estate Acquisition And Development Expense
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5100000 usd
psa Real Estate Acquisition And Development Expense
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173684000 usd
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109320000 usd
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39291000 usd
psa Real Estate Investment Property At Cost Acquisition Of Real Estate Facilities
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45579000 usd
psa Real Estate Investment Property At Cost Disposition And Other Real Estate Activities
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1569000 usd
psa Real Estate Investment Property At Cost Newly Developed Facilities Opened For Operation
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262517000 usd
CY2024Q3 us-gaap Real Estate Investment Property At Cost
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28094060000 usd
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9423974000 usd
us-gaap Depreciation
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748398000 usd
CY2024Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
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10172372000 usd
psa Development In Process Write Off Of Cancelled Projects
DevelopmentInProcessWriteOffOfCancelledProjects
733000 usd
psa Development In Process Developed Or Redeveloped Facilities Opened For Operation
DevelopmentInProcessDevelopedOrRedevelopedFacilitiesOpenedForOperation
262517000 usd
CY2024Q3 us-gaap Development In Process
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310514000 usd
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RealEstateInvestmentPropertyNet
18232202000 usd
psa Aggregate Costs To Develop And Expand
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262500000 usd
psa Net Rentable Area Developed Or Expanded
NetRentableAreaDevelopedOrExpanded
1100000 sqft
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6000000 usd
CY2024Q3 psa Number Of Common Shares Received From Dividend Contribution
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487600 shares
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1.116
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
14600000 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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CY2024Q3 us-gaap Goodwill Gross
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165843000 usd
CY2024Q3 us-gaap Goodwill
Goodwill
165843000 usd
CY2023Q4 us-gaap Goodwill Gross
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165843000 usd
CY2023Q4 us-gaap Goodwill
Goodwill
165843000 usd
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FiniteLivedIntangibleAssetsNet
202600000 usd
CY2024Q3 psa Intangible Assets Gross Including Goodwill
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1180946000 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
886400000 usd
CY2024Q3 us-gaap Intangible Assets Net Including Goodwill
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294546000 usd
CY2023Q4 psa Intangible Assets Gross Including Goodwill
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1180245000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
792978000 usd
CY2023Q4 us-gaap Intangible Assets Net Including Goodwill
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387267000 usd
CY2024Q3 us-gaap Amortization Of Intangible Assets
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26600000 usd
us-gaap Amortization Of Intangible Assets
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93400000 usd
CY2023Q3 us-gaap Amortization Of Intangible Assets
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16000000.0 usd
us-gaap Amortization Of Intangible Assets
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41400000 usd
us-gaap Increase Decrease In Intangible Assets Current
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700000 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
23451000 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
60632000 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
19129000 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
2797000 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
382000 usd
CY2024Q3 psa Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
3488000 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
109879000 usd
CY2024Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
9528580000 usd
CY2024Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
54802000 usd
CY2024Q3 us-gaap Long Term Debt
LongTermDebt
9473778000 usd
CY2024Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
9140212000 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
9103277000 usd
CY2023Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
8558601000 usd
CY2024Q3 psa Long Term Debt Gross Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtGrossMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
31000 usd
CY2024Q3 psa Long Term Debt Gross Maturities Repayments Of Principal Year One
LongTermDebtGrossMaturitiesRepaymentsOfPrincipalYearOne
670241000 usd
CY2024Q3 psa Long Term Debt Gross Maturities Repayments Of Principal In Year Two
LongTermDebtGrossMaturitiesRepaymentsOfPrincipalInYearTwo
1150138000 usd
CY2024Q3 psa Long Term Debt Gross Maturities Repayments Of Principal In Year Three
LongTermDebtGrossMaturitiesRepaymentsOfPrincipalInYearThree
1200146000 usd
CY2024Q3 psa Long Term Debt Gross Maturities Repayments Of Principal In Year Four
LongTermDebtGrossMaturitiesRepaymentsOfPrincipalInYearFour
1200129000 usd
CY2024Q3 psa Long Term Debt Gross Maturities Repayments Of Principal After Year Four
LongTermDebtGrossMaturitiesRepaymentsOfPrincipalAfterYearFour
5307895000 usd
CY2024Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
9528580000 usd
CY2024Q3 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.032
us-gaap Interest Paid Capitalized
InterestPaidCapitalized
8200000 usd
us-gaap Interest Paid Capitalized
InterestPaidCapitalized
6800000 usd
CY2024Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
174000 shares
CY2024Q3 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
4350000000 usd
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
174000 shares
CY2023Q4 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
4350000000 usd
psa Cumulative Arrearage Of Quarterly Dividends
CumulativeArrearageOfQuarterlyDividends
6 dividend
psa Number Of Additional Members Right To Elect
NumberOfAdditionalMembersRightToElect
2 board_member
us-gaap Preferred Stock Amount Of Preferred Dividends In Arrears
PreferredStockAmountOfPreferredDividendsInArrears
0 usd
psa Affirmative Vote Of Outstanding Shares Of Series Of Preferred Shares Required For Any Material And Adverse Amendment To Terms Of Series Percent
AffirmativeVoteOfOutstandingSharesOfSeriesOfPreferredSharesRequiredForAnyMaterialAndAdverseAmendmentToTermsOfSeriesPercent
0.6667
psa Affirmative Vote Of Outstanding Shares Of All Preferred Shares Voting As Single Class Required To Issue Shares Ranking Senior To Preferred Shares Percent
AffirmativeVoteOfOutstandingSharesOfAllPreferredSharesVotingAsSingleClassRequiredToIssueSharesRankingSeniorToPreferredSharesPercent
0.6667
CY2024Q3 us-gaap Preferred Stock Redemption Price Per Share
PreferredStockRedemptionPricePerShare
25.00
CY2024Q3 srt Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
35000000 shares
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
726865 shares
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
200000000 usd
CY2024Q3 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
10551219 shares
CY2024Q3 psa Dividends And Distributions Common Stock And Share Based Payment Arrangement Cash
DividendsAndDistributionsCommonStockAndShareBasedPaymentArrangementCash
526200000 usd
CY2024Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
3.00
CY2023Q3 psa Dividends And Distributions Common Stock And Share Based Payment Arrangement Cash
DividendsAndDistributionsCommonStockAndShareBasedPaymentArrangementCash
527600000 usd
CY2023Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
3.00
psa Dividends And Distributions Common Stock And Share Based Payment Arrangement Cash
DividendsAndDistributionsCommonStockAndShareBasedPaymentArrangementCash
1600000000 usd
psa Dividends And Distributions Common Stock And Share Based Payment Arrangement Cash
DividendsAndDistributionsCommonStockAndShareBasedPaymentArrangementCash
1600000000 usd
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
9.00
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
9.00
CY2024Q3 psa Dividends And Distributions Accrued
DividendsAndDistributionsAccrued
300000 usd
CY2023Q3 psa Dividends And Distributions Accrued
DividendsAndDistributionsAccrued
200000 usd
psa Dividends And Distributions Accrued
DividendsAndDistributionsAccrued
800000 usd
psa Dividends And Distributions Accrued
DividendsAndDistributionsAccrued
500000 usd
CY2024Q3 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
48700000 usd
CY2023Q3 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
48700000 usd
us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
146000000.0 usd
us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
146000000.0 usd
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
1600000 usd
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
1600000 usd
psa Rs Us Substituted By Ltip Units
RSUsSubstitutedByLTIPUnits
156632 shares
psa Stock Options Substituted By Aoltip Units
StockOptionsSubstitutedByAOLTIPUnits
2238874 shares
CY2024Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
700000 usd
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
2500000 usd
CY2023Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
500000 usd
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
1800000 usd
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10927000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9515000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
32101000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
31309000 usd
CY2024Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
69400000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y
psa Share Based Compensation Arrangement By Share Based Payment Award Common Shares Issued From Vesting
ShareBasedCompensationArrangementByShareBasedPaymentAwardCommonSharesIssuedFromVesting
22319 shares
us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
140960 shares
CY2024Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
220475 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
220475 shares
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
317062 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
317062 shares
CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
380712000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
563237000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1308287000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1559084000 usd
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
175043000 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
175499000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
175403000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
175451000 shares
CY2024Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
823000 shares
CY2023Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
651000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
671000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
719000 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
175866000 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
176150000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
176074000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
176170000 shares
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.17
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.21
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
7.46
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
8.89
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.16
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.20
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
7.43
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
8.85
CY2024Q3 us-gaap Profit Loss
ProfitLoss
433143000 usd
CY2023Q3 us-gaap Profit Loss
ProfitLoss
616643000 usd
us-gaap Profit Loss
ProfitLoss
1466049000 usd
us-gaap Profit Loss
ProfitLoss
1718223000 usd
CY2024Q3 psa Deductible For General Liability
DeductibleForGeneralLiability
2000000.0 usd
CY2024Q3 psa Deductible For Property Loss
DeductibleForPropertyLoss
25000000.0 usd
CY2024Q3 psa Reduced Deductible For Property Loss
ReducedDeductibleForPropertyLoss
5000000.0 usd
CY2024Q3 psa Aggregate Loss Threshold For Reduced Deductible For Property Loss
AggregateLossThresholdForReducedDeductibleForPropertyLoss
35000000.0 usd
CY2024Q3 psa Minimum Loss Per Occurrence To Reach Aggregate Loss Threshold For Reduced Deductible For Property Loss
MinimumLossPerOccurrenceToReachAggregateLossThresholdForReducedDeductibleForPropertyLoss
5000000.0 usd
CY2024Q3 psa Aggregate Limit Property Loss Coverage
AggregateLimitPropertyLossCoverage
75000000.0 usd
CY2024Q3 psa Aggregate Limit General Liability Coverage
AggregateLimitGeneralLiabilityCoverage
102000000.0 usd
CY2024Q3 psa Tenant Individual Insurance Limit Maximum
TenantIndividualInsuranceLimitMaximum
5000 usd
CY2024Q3 psa Third Party Insurance Coverage For Claims Paid Exceeding Amount For Individual Event
ThirdPartyInsuranceCoverageForClaimsPaidExceedingAmountForIndividualEvent
15000000.0 usd
CY2024Q3 psa Third Party Insurance Coverage For Claims Paid For Individual Event Limit
ThirdPartyInsuranceCoverageForClaimsPaidForIndividualEventLimit
10000000.0 usd
CY2024Q3 psa Tenant Certificate Holders Participating Individual Insurance Program
TenantCertificateHoldersParticipatingIndividualInsuranceProgram
1400000 certificate
CY2024Q3 psa Aggregate Coverage Of Tenants Participating
AggregateCoverageOfTenantsParticipating
6800000000 usd
CY2024Q3 us-gaap Contractual Obligation
ContractualObligation
164600000 usd
CY2024Q3 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
27200000 usd
CY2024Q3 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
128200000 usd
CY2024Q3 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
9200000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
62400000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
900000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4100000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4000000.0 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2600000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2500000 usd
CY2024Q3 psa Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
48300000 usd
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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