Company: PSA-PH
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001628280-25-047163
Chunk: 9

Company: Public Storage
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 2
Chunk 9
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9 %157,477 157,572 (0.1)%Newly Developed and Expanded Facilities17,400 14,022 24.1 %51,319 38,882 32.0 %Other Non-Same Store Facilities38,839 38,817 0.1 %117,664 118,643 (0.8)%Total depreciation and amortization290,364 280,330 3.6 %856,295 848,875 0.9 %Net income (loss):Same Store Facilities541,573 539,084 0.5 %1,595,390 1,595,831 — %Acquired Facilities(12,209)(18,455)(33.8)%(37,769)(65,097)(42.0)%Newly Developed and Expanded Facilities14,616 14,552 0.4 %39,539 40,110 (1.4)%Other Non-Same Store Facilities10,028 7,169 39.9 %26,702 17,827 49.8 %Total net income$554,008 $542,350 2.1 %$1,623,862 $1,588,671 2.2 %Number of facilities at period end:Same Store Facilities2,565 2,565 — %Acquired Facilities260 169 53.8 %Newly Developed and Expanded Facilities103 91 13.2 %Other Non-Same Store Facilities224 224 0.0 %3,1523,0493.4 %Net rentable square footage at period end:Same Store Facilities175,349 175,349 — %Acquired Facilities18,955 12,410 52.7 %Newly Developed and Expanded Facilities12,373 10,515 17.7 %Other Non-Same Store Facilities20,993 20,566 2.1 %227,670218,8404.0 %

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(a)Net operating income or “NOI” is a non-GAAP financial measure that excludes the impact of depreciation and amortization expense, which is based upon historical real estate costs and assumes that building values diminish ratably over time, while we believe that real estate values fluctuate due to market conditions. We utilize NOI in determining current property values,