Public Storage (PSA) Financial Statements (2024 and earlier)

Company Profile

Business Address 701 WESTERN AVENUE
GLENDALE, CA 91201-2349
State of Incorp. MD
Fiscal Year End December 31
Industry (SIC) 6798 - Real Estate Investment Trusts (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments651,665695,424775,253883,7871,013,886940,524
Cash and cash equivalents651,665695,424775,253883,7871,013,886940,524
Total current assets:651,665695,424775,253883,7871,013,886940,524
Noncurrent Assets
Property, plant and equipment5,315,0985,293,9895,273,0735,240,8415,175,7445,156,795
Long-term investments and receivables276,778285,692275,752252,648845,894850,649
Long-term investments276,778285,692275,752252,648845,894850,649
Intangible assets, net (including goodwill), including:212,022219,730232,517239,811249,744271,127
Goodwill165,843165,843165,843165,843165,843165,843
Intangible assets, net (excluding goodwill)27,35535,06347,85055,14465,07786,460
Other undisclosed intangible assets, net (including goodwill)18,82418,82418,82418,82418,82418,824
Total noncurrent assets:5,803,8985,799,4115,781,3425,733,3006,271,3826,278,571
Other undisclosed assets11,104,76311,012,94310,995,71210,833,83310,577,58310,479,686
TOTAL ASSETS:17,560,32617,507,77817,552,30717,450,92017,862,85117,698,781
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities7,401,7557,369,7307,385,5067,330,1637,814,5037,895,694
Total liabilities:7,401,7557,369,7307,385,5067,330,1637,814,5037,895,694
Temporary equity, carrying amount      83,826
Equity
Equity, attributable to parent10,065,94410,045,71110,073,40210,027,1729,954,7269,698,712
Preferred stock4,350,0004,350,0004,350,0004,350,0004,350,0004,350,000
Common stock17,54917,54717,52717,53417,52417,521
Additional paid in capital5,940,9455,923,5645,896,4235,878,7395,848,6325,827,674
Accumulated other comprehensive loss(75,146)(76,448)(80,317)(96,470)(79,217)(60,382)
Accumulated deficit(167,404)(168,952)(110,231)(122,631)(182,213)(436,101)
Equity, attributable to noncontrolling interest92,62792,33793,39993,58593,62220,549
Total equity:10,158,57110,138,04810,166,80110,120,75710,048,3489,719,261
TOTAL LIABILITIES AND EQUITY:17,560,32617,507,77817,552,30717,450,92017,862,85117,698,781

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues1,119,7701,094,2321,088,5421,088,1311,032,045973,445
Cost of revenue(540,092)(546,042)(522,336)(511,927)(482,548)(482,361)
Gross profit:579,678548,190566,206576,204549,497491,084
Operating expenses(25,434)(25,544)(33,341)(49,501)(53,131)(56,969)
Operating income:554,244522,646532,865526,703496,366434,115
Nonoperating income (expense)(1,096)(26,860)(138,956)2,229,030101,723 
Investment income, nonoperating    2,128,860  
Gain (loss), foreign currency transaction, before tax(1,096)(26,860)(138,956)100,170101,723 
Interest and debt expense(38,079)(36,101)(36,141)(34,113)(32,941)(33,124)
Income from continuing operations before equity method investments, income taxes:515,069459,685357,7682,721,620565,148400,991
Income from equity method investments9,5655,9956,8528,18048,52543,424
Income from continuing operations:524,634465,680364,6202,729,800613,673444,415
Income before gain (loss) on sale of properties:2,729,800613,673444,415
Other undisclosed net income56,53154,73550,31448,35243,22071,880
Net income:581,165520,415414,9342,778,152656,893516,295
Net loss attributable to noncontrolling interest(3,136)(2,707)(2,574)(9,158)(3,043) 
Other undisclosed net loss attributable to parent      (2,352)
Net income attributable to parent:578,029517,708412,3602,768,994653,850513,943
Preferred stock dividends and other adjustments(48,673)(48,678)(48,674)(48,678)(48,673)(48,365)
Other undisclosed net loss available to common stockholders, basic(1,097)(1,442)(1,064)(8,155)(1,796)(1,454)
Net income available to common stockholders, diluted:528,259467,588362,6222,712,161603,381464,124

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income:581,165520,415414,9342,778,152656,893516,295
Other comprehensive income (loss)1,3023,86916,153(17,253)(18,835)(6,795)
Comprehensive income:582,467524,284431,0872,760,899638,058509,500
Comprehensive loss, net of tax, attributable to noncontrolling interest(3,136)(2,707)(2,574)(9,158)(3,043)(2,352)
Comprehensive income, net of tax, attributable to parent:579,331521,577428,5132,751,741635,015507,148

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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