Company: PSA-PH
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001393311-25-000036
Chunk: 30

Company: Public Storage
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 30
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 amortization expense(69,430)(56,163)(13,267)(56,163)(49,102)(7,061)     Net income$82,001$88,249 $(6,248)$88,249$79,173 $9,076 

42

NEWLY DEVELOPED AND EXPANDED FACILITIES (Continued) As of December 31,As of December 31, 20242023Change (a)20232022Change (a) ($ amounts in thousands, except for per square foot amounts)Square foot occupancy:     Developed in 201986.0%84.6%1.4%84.6%87.3%(2.7)%Developed in 202089.3%89.4%(0.1)%89.4%94.3%(4.9)%Developed in 202177.7%81.5%(3.8)%81.5%82.4%(0.9)%Developed in 202286.3%77.7%8.6%77.7%43.6%34.1%Developed in 202375.9%27.9%48.0%27.9%—%—%Developed in 202441.0%—%—%—%—%—%Expansions completed before 202386.3%85.2%1.1%85.2%83.7%1.5%Expansions completed in 2023 or 202459.6%60.4%(0.8)%60.4%92.0%(31.6)%Expansions in process93.6%93.4%0.2%93.4%92.9%0.5%79.9%78.3%1.6%78.3%83.1%(4.8)%Annual contract rent per occupied square foot:Developed in 2019$18.31$18.83(2.8)%$18.83$18.193.5%Developed in 202021.7722.73(4.2)%22.7321.754.5%Developed in 202119.6219.78(0.8)%19.7818.049.6%Developed in 202217.7416.209.5%16.2013.8417.