CubeSmart (CUBE) financial statements (2022 and earlier)

Company profile

Business Address 5 OLD LANCASTER ROAD
MALVERN, PA 19355
State of Incorp. MD
Fiscal Year End December 31
SIC 6798 - Real Estate Investment Trusts (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1145545363
Cash and cash equivalents1145545363
Prepaid expense10976654
Total current assets:2113621011867
Noncurrent Assets
Finance lease, right-of-use asset4142 
Operating lease, right-of-use asset555542
Long-term investments and receivables120555919997
Long-term investments120555919997
Intangible assets, net (including goodwill)109581082813
Intangible assets, net (excluding goodwill)109581082813
Total noncurrent assets:324160571393107110
Other undisclosed assets6,2024,6063,9113,7303,4413,3602,938
TOTAL ASSETS:6,5484,7784,0303,7533,5453,4753,115
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities3,5502,6882,1601,9811,8561,7591,404
Total liabilities:3,5502,6882,1601,9811,8561,7591,404
Temporary equity, carrying amount1082496256545466
Stockholders' equity
Stockholders' equity attributable to parent2,8721,8321,7991,7101,6291,6551,643
Preferred stock      0
Common stock2222222
Additional paid in capital4,0882,8062,6752,5012,3572,3142,231
Accumulated other comprehensive income (loss)(1)(1)(1)(1)0(2)(5)
Accumulated deficit(1,218)(975)(877)(792)(729)(659)(585)
Stockholders' equity attributable to noncontrolling interest19987662
Total stockholders' equity:2,8901,8411,8071,7161,6351,6611,645
TOTAL LIABILITIES AND EQUITY:6,5484,7784,0303,7533,5453,4753,115

Income statement (P&L) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues823679644598559510445
Revenue, net598559510445
Operating lease, lease income708581552
Cost of revenue(252)(224)(210)(197)(182)(166)(153)
Gross profit:570456434401377344291
Operating expenses(70)(41)(39)(48)(36)(39)(32)
Other undisclosed operating loss    (146)(162)(152)
Operating income:501414396353196143108
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
(11)(0)1011(0)
Interest and debt expense(22)(21)(3)(64)(60)(53)(46)
Income from continuing operations before equity method investments, income taxes:4673933942891379162
Income (loss) from equity method investments25011(1)(1)(3)(0)
Income from continuing operations before income taxes:4933934052881368861
Other undisclosed income (loss) from continuing operations   (122)  18
Income before gain (loss) on sale of properties:4933934051651368879
Other undisclosed net loss(262)(226)(235)    
Net income:2311681711651368879
Net loss attributable to noncontrolling interest(7)(2)(2)(2)(1)(0)(1)
Net income attributable to parent:2231661691641348878
Preferred stock dividends and other adjustments     (8)(6)
Net income available to common stockholders, diluted:2231661691641348072

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:2311681711651368879
Other comprehensive income (loss)000(1)234
Other undisclosed comprehensive income      0
Comprehensive income:2311681711641379283
Other undisclosed comprehensive loss, net of tax, attributable to parent(7)(2)(2)(2)(1)(1)(1)
Comprehensive income, net of tax, attributable to parent:2241661691631369181

Statements sources

The financial statements are based on the company's filings with the 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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