Company: PSA-PH
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001393311-25-000036
Chunk: 6

Company: Public Storage
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 6
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iles net income to FFO and Core FFO and reconciles diluted earnings per share to FFO per share and Core FFO per share: 

Year Ended December 31,Year Ended December 31, 20242023Percentage Change20232022Percentage Change(Amounts in thousands, except per share data)Reconciliation of Net Income to FFO and Core FFO:Net income allocable to common shareholders$1,872,685 $1,948,741 (3.9)%$1,948,741 $4,142,288 (53.0)%Eliminate items excluded from FFO:Real estate-related depreciation and amortization1,117,752 962,703 962,703 881,569 Real estate-related depreciation from unconsolidated real estate investment44,181 36,769 36,769 54,822 Real estate-related depreciation allocated to noncontrolling interests and restricted share unitholders and unvested LTIP unitholders(7,167)(6,635)(6,635)(6,622)Gains on sale of real estate investments, including our equity share from investment(1,537)(17,290)(17,290)(54,403)Gain on sale of equity investment in PS Business Parks, Inc.— — — (2,116,839)FFO allocable to common shares$3,025,914 $2,924,288 3.5 %$2,924,288 $2,900,815 0.8 %Eliminate the impact of items excluded from Core FFO, including our equity share from investment:Foreign currency exchange (gain) loss(102,244)51,197 51,197 (98,314)Unrealized gain on private equity investments(4,355)(2,817)(2,817)(4,685)Hiring bonus for a new senior executive3,507 — — — Other items12,246 3,264 3,264 9,164 Core FFO allocable to common shares$2,935,068 $2,975,932 (1.4)%$2,975,932 $2,806,980 6.0 %Reconciliation of Diluted Earnings per Share to FFO per Share and Core FFO per Share:Diluted earnings per share$10.64 $11.