The latest financial statement is for the year ending 2025-12-31.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income | 1,022,538 | 900,232 | 850,453 | 921,156 |
| Depreciation and amortization | 715,177 | 783,023 | 506,053 | 288,316 |
| Amortization of deferred financing costs | 11,930 | 16,673 | 18,949 | 8,773 |
| Non-cash interest expense related to amortization of discount on unsecured senior notes, net | 47,519 | 43,720 | 18,786 | - |
| Non-cash interest expense related to amortization of discount on equity component of exchangeable senior notes | - | - | - | 0 |
| Non-cash item - amortization of premium portion of dec 2024 300m bond add-on | - | 197 | - | - |
| Non-cash lease expense | 12,888 | - | - | 1,903 |
| Accrual of interest income added to principal of debt securities and notes receivable | 32,554 | 31,367 | 37,907 | 38,412 |
| Compensation expense related to share-based awards | 35,537 | 22,906 | 26,638 | 21,386 |
| Loss on real estate assets held for sale and sold, net | -76,310 | -25,906 | 0 | 14,249 |
| Equity in earnings of unconsolidated real estate ventures - gain on sale of real estate assets and sale of a joint venture interest | 54,521 | 13,730 | - | - |
| Equity in earnings of unconsolidated real estate ventures - gain on sale of real estate assets | - | - | 0 | 0 |
| Impairment of life storage trade name | 0 | -51,763 | - | - |
| Distributions from unconsolidated real estate ventures | -29,224 | -30,745 | -20,060 | -13,162 |
| Other assets | -21,151 | 12,043 | 32,507 | 1,208 |
| Accounts payable and accrued expenses | 7,296 | 964 | 35,031 | 29,027 |
| Other liabilities | -42,302 | 68,835 | -3,082 | 8,285 |
| Net cash provided by operating activities | 1,850,193 | 1,887,430 | 1,402,474 | 1,238,139 |
| Acquisition of real estate assets and improvements | 926,267 | 650,535 | 320,711 | 1,291,491 |
| Life storage merger, net of cash acquired | 0 | 0 | 1,182,411 | - |
| Cash paid for business combination | - | 0 | 0 | 157,302 |
| Development and redevelopment of real estate assets | 143,025 | 128,618 | 100,181 | 62,019 |
| Proceeds from sale of real estate assets | 368,183 | 124,928 | 2,132 | 39,367 |
| Investment in unconsolidated real estate entities | 127,105 | 301,917 | 180,279 | 118,963 |
| Return of investment in unconsolidated real estate ventures | 291,312 | 15,413 | 0 | 342 |
| Issuance of notes receivable | 615,212 | 960,272 | 330,499 | 529,245 |
| Investment in debt securities | - | - | - | 0 |
| Proceeds from sale of notes receivable | 112,564 | 183,632 | 167,495 | 210,048 |
| Payments received on notes receivable | 246,476 | 140,963 | 142,192 | 283,636 |
| Issuance of loan collateralized with op units | 0 | 50,000 | - | - |
| Purchase of equipment and fixtures | 21,139 | 20,514 | 15,994 | 22,832 |
| Net cash used in investing activities | -814,213 | -1,646,920 | -1,818,256 | -1,648,459 |
| Proceeds from the sale of common stock, net of offering costs | - | - | 0 | 0 |
| Proceeds from unsecured term loans, senior notes, revolving lines of credit and commercial paper | 16,183,143 | 8,685,933 | 8,663,003 | 5,188,011 |
| Principal payments on unsecured term loans, senior notes, revolving lines of credit and commercial paper | 17,248,640 | 8,724,444 | 7,088,984 | 4,207,700 |
| Proceeds from issuance of public bonds, net | 1,650,000 | 1,300,000 | - | 396,100 |
| Deferred financing costs | 32,411 | 23,130 | 39,418 | 9,321 |
| Repurchase of exchangeable senior notes | - | - | - | 0 |
| Proceeds from principal payments on note receivable collateralized by op units | - | - | 0 | 0 |
| Net proceeds from exercise of stock options | - | - | 0 | 0 |
| Proceeds from share issuances | 0 | 365 | - | - |
| Repurchase of common stock | 149,548 | 0 | 0 | 63,008 |
| Contributions from noncontrolling interests | - | 29 | 74 | 0 |
| Distributions to minority investors | - | - | 70 | 4,500 |
| Redemption of preferred op units for cash | 0 | 0 | 5,377 | 4,617 |
| Offering costs associated with shelf registration | 0 | 522 | - | - |
| Redemption of operating partnership units for cash | 1,453 | 2,341 | 108 | - |
| Dividends paid on common stock | 1,374,298 | 1,375,003 | 1,046,341 | 805,311 |
| Distributions to noncontrolling interests, net of contributions | 62,896 | 63,177 | 59,649 | 57,793 |
| Net cash (used in) provided by financing activities | -1,036,103 | -202,290 | 423,130 | 431,861 |
| Net change in cash, cash equivalents, and restricted cash | -123 | 38,220 | 7,348 | 21,541 |
Extra Space Storage Inc. (EXR)
Extra Space Storage Inc. (EXR)