For the year ending 2025-12-31, PSA had -$129,321K decrease in cash & cash equivalents over the period.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income | 1,797,032 | 2,084,410 | 2,160,120 | 4,366,274 |
| Gain on sale of equity investment in ps business parks, inc | - | 0 | 0 | 2,128,860 |
| Gain on sale of real estate | 1,113 | 1,537 | 17,178 | 1,503 |
| Depreciation and amortization | 1,151,840 | 1,129,766 | 970,056 | 888,146 |
| Equity in earnings of unconsolidated real estate entity | 9,604 | 19,821 | 27,897 | 106,981 |
| Distributions from cumulative equity in earnings of unconsolidated real estate entity | 1,823 | 11,039 | 29,333 | 134,769 |
| Unrealized foreign currency exchange (gain) loss | -185,169 | 101,974 | -51,239 | 97,563 |
| Share-based compensation expense | 39,902 | 44,747 | 41,566 | 56,703 |
| Impairment of real estate investments | 4,348 | - | - | - |
| Amortization of debt issuance costs | 10,349 | - | - | - |
| Other non-cash adjustments | 4,902 | 11,410 | 20,508 | - |
| Other | - | - | - | -6,156 |
| Other assets | 24,639 | 44,968 | 16,365 | - |
| Total adjustments | - | - | - | -1,249,133 |
| Accrued and other liabilities | 26,440 | 15,183 | 35,266 | - |
| Net cash flows from operating activities | 3,186,449 | 3,128,255 | 3,246,648 | 3,117,141 |
| Capital expenditures to maintain real estate facilities | 218,464 | 239,655 | 236,572 | 459,773 |
| Capital expenditures for property enhancements | 0 | 126,757 | 159,939 | - |
| Capital expenditures for energy efficiencies (led lighting, solar) | 70,914 | 53,612 | 64,626 | - |
| Development and expansion of real estate facilities | 310,737 | 326,854 | 364,445 | 313,511 |
| Acquisition of real estate facilities and intangible assets | 945,585 | 267,473 | 473,176 | 757,944 |
| Acquisition of breit simply storage llc, net of cash acquired | 0 | 0 | 2,178,151 | - |
| Issuance of notes receivable | 131,227 | 9,960 | - | - |
| Distributions in excess of cumulative equity in earnings from unconsolidated real estate entity | 0 | 13,285 | 10,975 | - |
| Distributions in excess of cumulative equity in earnings from unconsolidated real estate entities | - | - | - | 13,670 |
| Contributions to unconsolidated real estate entity | 0 | 0 | 112,554 | - |
| Repayment of note receivable | - | - | - | 0 |
| Acquisition of non-operating real estate assets | 16,313 | - | - | - |
| Proceeds from sale of real estate investments | 8,151 | 8,388 | 39,986 | 1,543 |
| Proceeds from sale of equity investment in ps business parks, inc | - | 0 | 0 | 2,636,011 |
| Net cash flows used in investing activities | -1,685,089 | -1,002,638 | -3,538,502 | 1,119,996 |
| Issuance costs on amendment of credit facility | 0 | 0 | 8,377 | - |
| Repayments of notes payable | 651,517 | 808,505 | 8,259 | 513,495 |
| Issuance of notes payable, net of issuance costs | 1,356,420 | 1,151,022 | 2,181,273 | 0 |
| Issuance of preferred shares | - | 0 | 0 | 242,832 |
| Issuance of common shares | 0 | 60,321 | 53,131 | 35,271 |
| Redemption of preferred shares | - | - | 0 | 0 |
| Issuance of common shares in connection with share-based compensation | 9,412 | 47,278 | - | - |
| Taxes paid upon net share settlement of restricted share units | 8,646 | 12,667 | 13,950 | 16,827 |
| Repurchase of common shares | 0 | 200,000 | - | - |
| Acquisition of noncontrolling interests | 9,864 | 1,591 | 0 | 0 |
| Contributions by noncontrolling interests | 4,588 | 2,938 | 3,203 | 1,669 |
| Distributions paid to preferred shareholders, common shareholders, restricted share unitholders and unvested ltip unitholders | 2,303,381 | 2,301,935 | 2,305,322 | 3,908,497 |
| Distributions paid to noncontrolling interests | 27,693 | 15,437 | 14,627 | 34,223 |
| Net cash flows used in financing activities | -1,630,681 | -2,078,576 | -112,928 | -4,193,270 |
| Net cash flows (used in) from operating, investing, and financing activities | - | - | -404,782 | 43,867 |
| Net effect of foreign exchange impact on cash and equivalents, including restricted cash | - | - | 0 | 0 |
| Net (decrease) increase in cash and equivalents, including restricted cash | -129,321 | 47,041 | -404,782 | 43,867 |
| Cash and cash equivalents at beginning of period | 447,416 | 400,375 | 805,157 | 761,290 |
| Cash and cash equivalents at end of period | 318,095 | 447,416 | 400,375 | 805,157 |
Public Storage (PSA)
Public Storage (PSA)