Company: NSA-PB
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001618563-25-000023
Chunk: 60

Company: National Storage Affiliates Trust
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 60
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 to the three months ended June 30, 2024 and are recorded within the line items "General and administrative expenses" and "Non-operating income" in our consolidated statements of operations. Integration costs relate to expenses incurred as a part of the internalization of the PRO structure.(3)We combine OP units and DownREIT OP units with common shares because, after the applicable lock-out periods, OP units in our operating partnership are redeemable for cash or, at our option, exchangeable for common shares on a one-for-one basis and DownREIT OP units are also redeemable for cash or, at our option, exchangeable for OP units in our operating partnership on a one-for-one basis, subject to certain adjustments in each case. LTIP units may also, under certain circumstances, be convertible into or exchangeable for common shares (or other units that are convertible into or exchangeable for common shares). All subordinated performance units and DownREIT subordinated performance units were converted into OP units on July 1, 2024, in connection with the internalization of the PRO structure. See Note 1 to the following table for additional discussion of subordinated performance units, DownREIT subordinated performance units, and LTIP units in the calculation of FFO and Core FFO per share and unit.

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The following table presents a reconciliation of earnings per share - diluted to FFO and Core FFO per share and unit for the three and six months ended June 30, 2025 and 2024:

Three Months Ended June 30,Six Months Ended June 30,2025202420252024Earnings per share - diluted$0.19 $0.16 $0.29 $0.85 Impact of the difference in weighted average number of shares(1)(0.08)(0.06)(0.12)(0.29)Impact of GAAP accounting for noncontrolling interests, two-class method and treasury stock method(2)0.08 0.13 0.12 0.42 Add real estate depreciation and amortization0.35 0.40 0.70 0.79 Add equity in losses of unconsolidated real estate ventures0.03 0.04 0.07 0.05 Add Company's share of FFO in unconsolidated real estate ventures0.04 0.05 0.08 0.10 Subtract gain on sale of self