Company: PSA-PH
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001628280-25-047163
Chunk: 6

Company: Public Storage
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 2
Chunk 6
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30,Nine Months Ended September 30,20252024Percentage Change20252024Percentage Change(Amounts in thousands, except per share data)Reconciliation of Net Income to FFO and Core FFO:Net income allocable to common shareholders$461,408 $380,712 21.2 %$1,128,606 $1,308,287 (13.7)%Eliminate items excluded from FFO:Real estate-related depreciation and amortization287,472 277,652 847,702 839,749 Real estate-related depreciation from unconsolidated real estate investment14,706 12,013 45,664 31,531 Real estate-related depreciation allocated to noncontrolling interests and restricted share unitholders and unvested LTIP unitholders(2,009)(2,192)(6,338)(5,904)Impairment write-down of real estate investments119 — 3,946 — Gains on sale of real estate investments, including our equity share from investment(502)(554)(710)(1,428)FFO allocable to common shares$761,194 $667,631 14.0 %$2,018,870 $2,172,235 (7.1)%Eliminate the impact of items excluded from Core FFO, including our equity share from investment:Foreign currency exchange (gain) loss(899)70,572 213,866 20,580 Unrealized gain on private equity investments(6,148)(2,626)(4,360)(4,740)Corporate transformation costs1,376 — 3,178 — Other items3,167 2,666 4,082 6,031 Core FFO allocable to common shares$758,690 $738,243 2.8 %$2,235,636 $2,194,106 1.9 %Reconciliation of Diluted Earnings per Share to FFO per Share and Core FFO per Share:Diluted earnings per share$2.62 $2.16 21.3 %$6.42 $7.43 (13.6)%Eliminate amounts per share excluded from FFO:Real estate-related depreciation and amortization1.71 1.64 5.04 4.92 Impairment write-down of real estate investments—