Company: PSA-PH
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001393311-25-000036
Chunk: 7

Company: Public Storage
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 7
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06 (3.8)%$11.06 $23.50 (52.9)%Eliminate amounts per share excluded from FFO:Real estate-related depreciation and amortization6.56 5.64 5.64 5.27 Gains on sale of real estate investments, including our equity share from investment(0.01)(0.10)(0.10)(0.31)Gain on sale of equity investment in PS Business Parks, Inc.— — — (12.00)FFO per share $17.19 $16.60 3.6 %$16.60 $16.46 0.9 %Eliminate the per share impact of items excluded from Core FFO, including our equity share from investment:Foreign currency exchange (gain) loss(0.58)0.29 0.29 (0.57)Unrealized gain on private equity investments(0.02)(0.02)(0.02)(0.03)Hiring bonus for a new senior executive0.02 — — — Other items0.06 0.02 0.02 0.06 Core FFO per share $16.67 $16.89 (1.3)%$16.89 $15.92 6.1 %Diluted weighted average common shares176,038 176,143 176,143 176,280 

28

Analysis of Net Income — Self-Storage Operations

Our self-storage operations are analyzed in four groups: (i) the 2,507 facilities that we have owned and operated on a stabilized basis since January 1, 2022 (the “Same Store Facilities”), (ii) 260 facilities we acquired since January 1, 2022 (the “Acquired Facilities”), (iii) 132 facilities that have been newly developed or expanded, or that had commenced expansion by December 31, 2024 (the “Newly Developed and Expanded Facilities”), and (iv) 174 other facilities, which are otherwise not stabilized with respect to occupancies or rental rates since January 1, 2022 (the “Other Non-Same Store Facilities”). The Acquired Facilities, Newly Developed and Expanded Facilities, and Other Non-Same Store Facilities are collectively referred to as the Non-Same Store Facilities. See Note 13 to our December 31, 2024 consolidated financial statements “