Company: PSA-PH
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001393311-25-000069
Chunk: 13

Company: Public Storage
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 2
Chunk 13
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 Change(Amounts in thousands, except per share data)Reconciliation of Net Income to FFO and Core FFO:Net income allocable to common shareholders$358,230 $459,209 (22.0)%Eliminate items excluded from FFO:Real estate-related depreciation and amortization280,009 282,203 Real estate-related depreciation from unconsolidated real estate investment13,275 9,756 Real estate-related depreciation allocated to noncontrolling interests and restricted share unitholders and unvested LTIP unitholders(2,114)(1,835)Impairment write-down of real estate investments3,827 — Gains on sale of real estate investments, including our equity share from investment(45)(871)FFO allocable to common shares$653,182 $748,462 (12.7)%Eliminate the impact of items excluded from Core FFO, including our equity share from investment:Foreign currency exchange loss (gain)68,695 (37,543)Unrealized loss (gain) on private equity investments873 (1,103)Corporate transformation costs789 — Other items1,058 1,154 Core FFO allocable to common shares$724,597 $710,970 1.9 %Reconciliation of Diluted Earnings per Share to FFO per Share and Core FFO per Share:Diluted earnings per share$2.04 $2.60 (21.5)%Eliminate amounts per share excluded from FFO:Real estate-related depreciation and amortization1.65 1.65 Impairment write-down of real estate investments0.02 — Gains on sale of real estate investments, including our equity share from investment— (0.01)FFO per share $3.71 $4.24 (12.5)%Eliminate the per share impact of items excluded from Core FFO, including our equity share from investment:Foreign currency exchange loss (gain) 0.39 (0.21)Unrealized loss (gain) on private equity investments0.01 (0.01)Corporate transformation costs— — Other items0.01 0.01 Core FFO per share $4.12 $4.03 2.2 %Diluted weighted average common shares175,942 176,350 

25

Analysis of Net Income