Company: PSA-PH
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001393311-25-000036
Chunk: 107

Company: Public Storage
Filing Date: 2025-02-24
Form: 10-K
Item: Item 15
Chunk 107
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,182,163 Expenses:Self-storage cost of operations 1,136,720 1,061,950 980,209 Ancillary cost of operations 121,281 85,996 72,698 Depreciation and amortization 1,129,766 970,056 888,146 Real estate acquisition and development expense15,506 26,451 28,744 General and administrative 106,677 80,632 71,672 Interest expense 287,401 201,132 136,319  2,797,351 2,426,217 2,177,788 Other increases (decreases) to net income:Interest and other income 67,212 85,590 40,567 Equity in earnings of unconsolidated real estate entities19,821 27,897 106,981 Foreign currency exchange gain (loss)102,244 (51,197)98,314 Gain on sale of real estate 1,537 17,178 1,503 Gain on sale of equity investment in PS Business Parks, Inc.— — 2,128,860 Income before income tax expense2,089,079 2,170,941 4,380,600 Income tax expense(4,669)(10,821)(14,326)Net income 2,084,410 2,160,120 4,366,274 Allocation to noncontrolling interests (12,399)(11,793)(17,127)Net income allocable to Public Storage shareholders 2,072,011 2,148,327 4,349,147 Allocation of net income to:Preferred shareholders(194,703)(194,703)(194,390)Restricted share units and unvested LTIP units(4,623)(4,883)(12,469)Net income allocable to common shareholders$1,872,685 $1,948,741 $4,142,288 Net income per common share:Basic$10.68 $11.11 $23.64 Diluted$10.64 $11.06 $23.50 Basic weighted average common shares outstanding 175,351175,472175,257Diluted weighted average common shares outstanding176,038176,143176,280

See accompanying notes.F-4

PUBLIC STORAGE