PSA Stock Cash Flow Statements

Public Storage Quarterly Cash Flow Statements Chart

Quarterly

Annual

Operating Cash Flow

Investing Cash Flow

Financing Cash Flow

Free Cash Flow

Public Storage Quarterly Cash Flow Statements Table

Quarterly

Annual

Unit: USD	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-03-31	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-09-30	2010-06-30	2010-03-31

cash flows from operating activities:
net income	361,411,000	410,791,000	618,361,000	433,143,000	521,209,000	511,697,000	441,897,000	616,643,000	581,165,000	520,415,000	414,934,000	2,778,152,000	656,893,000	516,295,000	622,019,000	358,274,000	355,207,000	344,021,000	415,681,000	369,050,000	358,359,000	317,349,000	365,259,000	341,136,000	328,040,000	283,254,000	228,273,000	206,722,000	220,437,000	194,513,000	210,941,000	210,568,000	245,811,000	131,176,000	129,917,000
adjustments to reconcile net income to net cash flows from operating activities:
gain on sale of real estate	-163,000	-45,000	-109,000	-554,000	0	-874,000	-17,090,000				0				0
depreciation and amortization	283,216,000	282,715,000	280,891,000	280,330,000	283,342,000	285,203,000	287,525,000	238,748,000	222,133,000	221,650,000	226,538,000	220,772,000	218,708,000	222,128,000	205,289,000	113,320,000	110,177,000	110,929,000	111,741,000	109,432,000	107,013,000	105,128,000	106,307,000	106,082,000	106,473,000	107,146,000	109,021,000
equity in earnings of unconsolidated real estate entities	2,230,000	-3,627,000				-6,090,000	-5,110,000	-7,227,000	-9,565,000	-5,995,000	-6,852,000	-8,180,000	-48,525,000	-43,424,000	-150,711,000	-17,218,000	-20,068,000	-19,949,000	-15,128,000	-17,237,000
distributions from cumulative equity in earnings of unconsolidated real estate entities	304,000	432,000				352,000	11,670,000	334,000	17,005,000	324,000	309,000	87,867,000	31,092,000	15,501,000	91,237,000
unrealized foreign currency exchange gain	147,052,000	68,664,000					71,176,000	-47,782,000	1,020,000	26,825,000		-99,880,000
share-based compensation expense	10,620,000	10,283,000	12,646,000	10,927,000	10,827,000	10,347,000	10,257,000	9,515,000	11,949,000	9,845,000	12,106,000	13,741,000	16,928,000	13,928,000	12,168,000	12,942,000	4,244,000	8,319,000
impairment of real estate investments
other non-cash adjustments	3,588,000	2,707,000	3,418,000	2,597,000	2,614,000	2,781,000	10,303,000
changes in operating assets and liabilities, excluding the impact of acquisitions:
other assets	-31,468,000	8,702,000	273,000	-39,087,000	10,077,000	-16,231,000	24,354,000	-21,300,000	17,192,000	-36,611,000
accrued and other liabilities	95,918,000	-79,386,000	-20,173,000	42,385,000	77,103,000	-84,132,000	-43,298,000	83,281,000	37,733,000	-42,450,000
net cash flows from operating activities	872,708,000	705,063,000	768,620,000	798,770,000	895,279,000	665,586,000	791,684,000	875,671,000	882,400,000	696,893,000	736,351,000	927,017,000	797,532,000	656,241,000	728,835,000
cash flows from investing activities:
capital expenditures to maintain real estate facilities	-39,342,000	-44,960,000	-64,759,000	-57,415,000	-51,105,000	-66,376,000	-78,605,000	-52,911,000	-8,414,000	-96,642,000	-121,877,000	-125,423,000	-112,924,000	-99,549,000	-101,135,000	-32,702,000	-27,722,000	-24,373,000	-19,403,000	-23,796,000	-26,719,000	-11,517,000	-12,655,000	-20,478,000	-24,562,000	-7,899,000	-13,136,000
capital expenditures for property enhancements			-20,585,000	-43,145,000	-37,981,000	-25,046,000	-40,579,000	-52,041,000
capital expenditures for energy efficiencies	-15,996,000	-13,049,000	-17,828,000	-9,800,000	-12,926,000	-13,058,000	-18,854,000	-19,922,000
development and expansion of real estate facilities	-76,665,000	-66,481,000	-79,693,000	-82,229,000	-80,405,000	-84,527,000	-115,468,000	-87,542,000	-92,561,000	-68,874,000	-82,028,000	-75,020,000	-79,758,000	-76,705,000	-80,454,000
acquisition of real estate facilities and intangible assets	-162,287,000	-140,990,000	-221,193,000	-24,317,000			-171,852,000	-110,546,000	-143,983,000	-46,795,000	-228,587,000	-297,940,000	-119,140,000	-112,277,000	-2,201,822,000	-47,269,000	-11,623,000	-22,784,000	-158,528,000	-72,993,000	-99,499,000	-85,158,000	-72,161,000	-17,132,000	-55,492,000	-32,291,000
issuance of notes receivable	-44,240,000	-23,636,000
distributions in excess of cumulative equity in earnings from unconsolidated real estate entities							7,810,000	0			0	9,133,000			10,753,000
proceeds from sale of real estate investments	250,000	2,599,000	2,374,000	3,571,000	20,000	2,423,000	39,885,000				0				226,000	0			0	-395,000	704,000	689,000
net cash flows used in investing activities	-338,280,000	-286,517,000		-213,335,000	-191,075,000	-186,584,000			-334,962,000	-212,311,000			-307,285,000	-288,531,000	-2,372,432,000
cash flows from financing activities:
repayments of notes payable	-32,000	-33,000	-32,000	-31,000	-808,406,000	-36,000	-30,000
issuance of notes payable, net of issuance costs			0	0			0								1,738,744,000
issuance of common shares in connection with share-based compensation	4,595,000	3,184,000	16,361,000	20,553,000	2,564,000	7,800,000	22,032,000	1,042,000	4,941,000	25,116,000	7,358,000	16,421,000	3,419,000	8,073,000
taxes paid upon net share settlement of restricted share units	-372,000	-2,668,000	-6,372,000	-679,000	-288,000	-5,328,000	-3,910,000	-644,000	-464,000	-8,932,000	-3,838,000	-779,000	-1,636,000	-10,574,000
repurchase of common shares			0	0
acquisition of noncontrolling interests	-8,958,000	-103,000	-405,000												-659,000	0	-14,291,000	-134,000					-49,000
contributions by noncontrolling interests	1,531,000	1,153,000	953,000	567,000	91,000	1,327,000	562,000	1,908,000	729,000	4,000	10,000	-39,000	907,000	791,000	92,000	482,000	-108,000	692,000	293,000	430,000	740,000	2,007,000	578,000
distributions paid to preferred shareholders, common shareholders, restricted share unitholders and unvested ltip unitholders	-575,847,000	-575,844,000	-575,689,000	-574,852,000	-574,602,000	-576,792,000
distributions paid to noncontrolling interests	-4,451,000	-4,474,000	-3,701,000	-4,259,000	-3,311,000	-4,166,000	-3,631,000	-3,648,000	-3,575,000	-3,773,000	-2,770,000	-9,756,000	-19,142,000	-2,555,000	-2,149,000	-1,791,000	-1,728,000	-2,021,000	-1,978,000	-1,968,000	-1,907,000	-1,733,000	-1,838,000	-2,296,000	-1,369,000	-1,822,000	-1,779,000	-1,739,000	-2,077,000	-5,089,000
net cash flows used in financing activities	282,998,000	-578,785,000			-432,930,000	-577,195,000			-591,121,000	-563,965,000				-161,253,000
net increase in cash and equivalents, including restricted cash			-151,588,000	25,548,000			-259,980,000	-21,736,000
cash and equivalents, including restricted cash at beginning of the period:
cash and equivalents	0	447,416,000	0	0	0	370,002,000	0	0	0	775,253,000	0	0	0	734,599,000	0
restricted cash included in other assets			0	0	0	30,373,000	0	0	0	29,904,000	0	0	0	26,691,000	0
cash and equivalents, including restricted cash at end of the period:
supplemental schedule of non-cash investing and financing activities:
costs incurred during the period remaining unpaid at period end for:
construction or expansion of real estate facilities	-3,645,000	-42,084,000	-4,084,000	4,100,000	-5,715,000	-41,460,000	-1,311,000	-8,938,000	-7,225,000	-50,625,000	5,356,000	-22,324,000	-6,437,000	-42,245,000	-10,746,000
supplemental cash flow information:
cash paid for interest, net of amounts capitalized	57,176,000	82,509,000	58,846,000	79,319,000	55,588,000	75,745,000
cash paid for income taxes, net of refunds	6,140,000	-230,000	300,000	433,000	4,623,000	1,521,000
impairment write-down of real estate investments		3,827,000
net decrease in cash and equivalents, including restricted cash		-160,239,000				-98,193,000
gain on sale of equity investment in ps business parks, inc.											0
unrealized foreign currency exchange (gain) loss					-12,391,000	-37,467,000
acquisition of breit simply storage llc, net of cash acquired							0
contributions to unconsolidated real estate entity
proceeds from sale of equity investment in ps business parks, inc.											0
net cash flows (used in) from investing activities							-490,217,000
issuance costs on amendment of credit facility							0	0
issuance of preferred shares											0	0	0	242,832,000	422,144,000	290,120,000			338,075,000	314,450,000	193,561,000	290,117,000					227,497,000
issuance of common shares																2,852,000	13,868,000	18,034,000	11,350,000	3,466,000	1,058,000	9,667,000	3,749,000	15,426,000	6,779,000	3,709,000	25,409,000
real estate acquired in exchange for noncontrolling interests											0	0	-4,439,000	-15,426,000
equity in earnings of unconsolidated real estate entity				-2,888,000
distributions from cumulative equity in earnings of unconsolidated real estate entity				1,334,000
distributions in excess of cumulative equity in earnings from unconsolidated real estate entity				0
net cash flows (used in) from financing activities											-410,381,000	-3,205,030,000
contributions to unconsolidated real estate entities
redemption of preferred shares															-350,000,000				0	-487,500,000			-125,000,000	0
distributions paid to preferred shareholders, common shareholders and restricted share unitholders							-576,470,000	-576,297,000	-576,304,000	-576,251,000	-399,916,000	-2,709,079,000	-399,918,000	-399,584,000	-399,012,000
net cash flows (used in) from operating, investing, and financing activities										-79,383,000
net effect of foreign exchange impact on cash and equivalents, including restricted cash														173,000	192,000
net cash flows from (used) in financing activities
other									3,768,000	2,890,000	-49,819,000	64,908,000	23,877,000	-32,810,000	-12,964,000	35,277,000	18,946,000	-3,055,000	-72,860,000	38,542,000	28,385,000	10,651,000	-31,703,000	28,074,000	38,302,000	-11,718,000	-7,205,000	-3,970,000	-23,357,000	19,140,000	24,232,000	-2,285,000	12,492,000	26,838,000	-19,507,000
changes in operating assets and liabilities:
repayments on notes payable									-8,071,000	-129,000	-11,225,000	-501,798,000	-236,000	-236,000	-633,000	-426,000	-421,000	-420,000	-16,464,000	-9,403,000	-4,640,000	-5,952,000	-496,000	-459,000	-10,745,000	-5,537,000	-710,000
increase in cash and equivalents, including restricted cash										-79,383,000	-106,522,000	-129,709,000	73,468,000	206,630,000	-223,061,000
total adjustments											321,417,000	-1,851,135,000	140,639,000	139,946,000	106,816,000	178,918,000	151,037,000	115,062,000	49,615,000	146,276,000	165,375,000	123,631,000	69,273,000	130,899,000	128,803,000	85,937,000	102,436,000	72,768,000	74,222,000	131,816,000	106,704,000	54,251,000	50,291,000	161,314,000	103,205,000
repayment of note receivable
net cash flows from (used in) investing activities											-432,492,000
net cash flows from operating, investing, and financing activities											-106,522,000	-129,709,000
real estate acquired in exchange for consideration payable
preferred shares called for redemption and reclassified to liabilities
foreign currency exchange gain														-35,377,000														-12,157,000
real estate deposits and costs for pending acquisitions
net cash flows from (used in) operating, investing, and financing activities														206,457,000
foreign currency exchange (gain) loss															-38,203,000															28,253,000	-10,496,000	-31,252,000
cash paid upon vesting of restricted share units															-2,631,000	-645,000	-159,000	-11,605,000	-1,753,000
net cash flows from financing activities															1,420,344,000
adjustments to reconcile net income to net cash provided
by operating activities:
gain on real estate investment sales																0			0	0	0	-689,000
casualty loss
distributions from retained earnings of unconsolidated
real estate entities																13,362,000	13,273,000	13,252,000	11,936,000	11,874,000
foreign currency exchange loss																13,446,000	25,440,000	5,566,000		3,665,000	-8,632,000	10,954,000					2,348,000							49,204,000	34,843,000
net cash from operating activities																537,192,000	506,244,000	459,083,000	465,296,000	515,326,000	523,734,000	440,980,000	434,532,000	472,035,000	456,843,000	369,191,000	330,709,000	279,490,000	294,659,000	326,329,000	317,645,000	264,819,000	296,102,000	292,490,000	233,122,000
capex																0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
free cash flows																537,192,000	506,244,000	459,083,000	465,296,000	515,326,000	523,734,000	440,980,000	434,532,000	472,035,000	456,843,000	369,191,000	330,709,000	279,490,000	294,659,000	326,329,000	317,645,000	264,819,000	296,102,000	292,490,000	233,122,000
construction in process																-75,938,000	-93,580,000	-70,964,000	-79,504,000	-55,414,000	-67,023,000	-67,975,000	-68,951,000	-59,442,000	-37,429,000	-62,656,000	-25,517,000	-997,000	-2,421,000	-6,212,000	-6,444,000	-4,087,000	-3,488,000	-3,517,000	-4,854,000
distributions in excess of retained earnings from
unconsolidated real estate entities																			0	0
net cash from investing activities																-151,775,000	-127,281,000	-118,141,000	-261,167,000	-167,764,000	-125,117,000	-162,678,000	-154,019,000	-98,112,000	-93,827,000	-94,147,000	173,069,000	-54,295,000	20,904,000	91,999,000	90,269,000	-284,527,000	-55,139,000	-78,700,000	-106,203,000
issuance of notes payable
distributions paid to public storage shareholders																-409,610,000	-409,653,000	-408,334,000	-406,995,000	-369,718,000	-371,710,000	-357,335,000	-353,705,000	-355,693,000	-355,770,000	-305,863,000	-294,226,000	-243,243,000	-213,998,000	-218,635,000	-220,108,000	-193,505,000	-193,178,000	-194,430,000	-173,135,000
net cash from financing activities																-49,389,000	-141,435,000	-403,788,000	-77,472,000	-550,543,000	-444,545,000	-76,266,000	-212,506,000	-358,481,000	-495,105,000	-309,513,000	-421,909,000	256,117,000	-336,634,000	-401,449,000	-408,939,000	-291,524,000	-200,778,000	-459,081,000	-169,861,000
net increase in cash and cash equivalents																336,028,000	237,528,000	-62,846,000			-45,928,000	202,036,000	68,007,000	15,442,000	-132,089,000	-34,469,000	81,869,000	481,312,000
net effect of foreign exchange translation on cash and cash equivalents																-61,000	-121,000	17,000	-182,000	70,000							74,000
cash and cash equivalents at the beginning of the period																0	0	183,688,000	0	0	0	104,285,000	0	0	0	187,712,000	19,169,000	139,008,000		0	0	456,252,000	0	0	763,789,000
cash and cash equivalents at the end of the period																335,967,000	237,407,000	120,859,000	126,475,000	-202,911,000	-45,581,000	305,705,000	68,617,000	15,412,000	-132,541,000	152,797,000	101,112,000	620,079,000		16,246,000	-618,000	145,105,000	39,143,000	-245,646,000	719,982,000
issuance of senior unsecured notes																			0	0
shared-based compensation expense
disposition of portion of loan receivable from
shurgard europe
repayments of loan receivable from shurgard europe
repayments on bank credit facility																											-50,100,000
repayments on term loan																											-328,000,000
net decrease in cash and cash equivalents																														16,879,000	-1,025,000	-311,232,000	40,185,000	-245,291,000	-42,942,000
borrowings on bank credit facility
cash paid upon vesting in lieu of issuing common shares																					-267,000	-13,037,000
distributions received from unconsolidated real estate
entities less than equity in earnings																						-2,413,000	-5,025,000	-2,914,000	716,000	-8,019,000
net effect of foreign exchange translation on cash and
cash equivalents																						-616,000	610,000	-30,000	-452,000	-446,000
gain on real estate sales																							0	-343,000	-16,688,000	-1,472,000
investment in unconsolidated real estate entities
proceeds from sale of real estate facilities																							0	1,084,000	4,692,000	9,237,000
disposition of portion of loan receivable from shurgard europe																											216,217,000
borrowings (repayments) on bank credit facility
adjustments to reconcile net income to net cash from operating activities:
distributions received from unconsolidated real estate entities less than equity in earnings																											-1,728,000
acquisition of real estate facilities and intangibles
gain on real estate sales, including amounts in discontinued operations
depreciation and amortization, including amounts in discontinued operations																												86,938,000	89,830,000	90,956,000	89,186,000	88,553,000	92,648,000	85,205,000	84,886,000
distributions received from unconsolidated real estate entities (less than) in excess of equity in earnings
gain on real estate sales and debt retirement, including amounts in discontinued operations																													-7,739,000
asset impairment charges																																			1,008,000
distributions received from unconsolidated real estate entities in excess of equity in earnings
capital improvements to real estate facilities																												-14,278,000	-12,751,000	-12,734,000	-32,418,000	-11,874,000	-31,626,000	-32,190,000	-4,812,000
acquisition of real estate facilities and property intangibles																												-41,970,000	-16,340,000	-26,527,000	-8,165,000	-26,196,000
proceeds from sales of other real estate investments																													8,682,000	4,353,000	-51,000	451,000	4,689,000	9,821,000	932,000
loans to unconsolidated real estate entities
repayments of loans receivable from unconsolidated real estate entities
disposition of loans receivable from unconsolidated real estate entities
acquisition of investments in unconsolidated real estate entities
maturities of marketable securities
other investing activities																												2,950,000	627,000	-3,304,000	3,445,000	396,000	-5,239,000	12,032,000	-2,221,000
principal payments on notes payable																												-24,884,000	-19,944,000	-27,598,000	-21,278,000	-105,535,000	-2,394,000	-53,216,000	-1,965,000
net proceeds from the issuance of common shares																												9,722,000	10,688,000	2,755,000	1,600,000	11,373,000	10,387,000	14,393,000	11,822,000
issuance of cumulative preferred shares																												893,170,000	0	471,963,000			0
redemption of cumulative preferred shares																												-356,687,000	-105,000,000
acquisition of redeemable noncontrolling interests
acquisition of permanent noncontrolling interests																												-322,000	-6,303,000
net effect of foreign exchange translation on cash																												-241,000	-654,000	-633,000	407,000	85,000	-1,042,000	-355,000	-865,000
loss on real estate sales and debt retirement, net, including amounts in discontinued operations
distributions received from unconsolidated real estate entities in excess of (less than) equity in earnings of unconsolidated real estate entities																												1,957,000
proceeds from repayments of loans receivable from unconsolidated real estate entities
acquisition of redeemable noncontrolling interests in subsidiaries																												-19,900,000
asset impairment charges, including amounts in discontinued operations																													0				0
distributions received from unconsolidated real estate entities (less than) in excess of equity in earnings of unconsolidated real estate entities
proceeds from disposition of loan receivable from unconsolidated real estate entities
net sales (purchases) of marketable securities																													0	49,000	0	102,230,000
repurchases of senior unsecured notes payable
redemption of equity shares, series a
cash and cash equivalents at the beginning of the year
cash and cash equivalents at the end of the year
distributions received from real estate entities in excess of equity in earnings of real estate entities																														-2,795,000
loans to real estate entities																														0
proceeds from repayments of loans receivable from real estate entities																														136,374,000
proceeds from disposition of loan receivable from real estate entities																														0
acquisition of investments in real estate entities																														0
gain on disposition of real estate investments, including amounts in discontinued operations																															70,000	55,000	-2,707,000	-4,713,000	-770,000
gain on early retirement of debt																																	0
repurchases of cumulative preferred shares																																	-9,200,000
repurchases of equity shares, series a																																	0
acquisition of permanent noncontrolling equity interests
distributions received from real estate entities (less than) in excess of equity in earnings of real estate entities																																-820,000
loan to ps business parks																																-121,000,000
loan to shurgard europe																																-237,877,000
proceeds from repayments of loan receivable from shurgard europe																																13,430,000
distributions paid to redeemable noncontrolling interests																																-294,000	-296,000	-284,000	-304,000
distributions paid to permanent noncontrolling interests																																-3,563,000
distributions received from real estate entities in excess of (less than) equity in earnings of real estate entities																																	3,313,000	3,527,000	2,745,000
acquisition of real estate facilities and tenant intangibles																																	-27,282,000
acquisition of common stock of ps business parks
net purchases of marketable securities
repurchases of permanent noncontrolling equity interests
distributions paid to permanent noncontrolling equity interests																																	-6,097,000	-5,394,000	-6,279,000
proceeds from repayment of loan receivable from shurgard europe
purchases of marketable securities																																		0	-95,248,000
redemption of senior unsecured notes payable
impairment charge on intangible asset included in discontinued operations
acquisition of real estate facilities
proceeds from sales of real estate and other real estate investments
proceeds from the disposition of interest in shurgard europe
deconsolidation of shurgard europe
investment in shurgard europe
sale of real estate investments to affiliates
issuance of secured note payable
net repayments on bank credit facilities
proceeds from borrowing on debt of existing european joint ventures
net proceeds from the issuance of cumulative preferred shares
repurchases of common shares
repurchases of permanent noncontrolling interests

We provide you with 20 years of cash flow statements for Public Storage stock, allowing you to gain comprehensive visibility into the fundamentals of the company. Our detailed breakdowns include key financial metrics such as operating cash flows, cash levels, capital expenditures, profits, stock-based compensations and profit margins. This in-depth information is essential for making informed investment decisions and understanding the financial health and performance of Public Storage stock. Explore the full financial landscape of Public Storage stock with our expertly curated income statements.

The information provided in this report about Public Storage stock is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.