Extra Space Storage Inc

For the period ended Dec 31, 2023. Filed Feb 29, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 29, 2024

EXR$158.95-0.8%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Schedule III - Real Estate and Accumulated Depreciation

Schedule III

Real Estate and Accumulated Depreciation

(Dollars in thousands)

As of December 31, 2023

Building and Improvements Initial Cost · Adjustments and Costs to Land and Building Subsequent to Acquisition · Gross carrying amount at December 31, 2023
Self - Storage Facilities by State: · Store Count · Land Initial Cost · Building and Improvements · Accumulated Depreciation
Debt · Land · Total
AL	37	$5,686	$52,358	$380,499	$5,593	$52,356	$386,094	$438,450	$18,152
AZ	46	22,349	135,775	523,811	14,566	135,774	538,378	674,152	44,843
CA	218	328,992	921,260	2,322,145	250,704	919,806	2,574,302	3,494,108	436,926
CO	27	26,374	49,985	192,497	20,004	50,703	211,783	262,486	33,009
CT	23	6,399	43,453	373,628	6,530	43,452	380,158	423,610	18,276
FL	245	167,386	672,426	2,894,604	122,780	674,576	3,015,234	3,689,810	239,687
GA	119	78,837	303,954	1,179,911	47,713	303,941	1,227,636	1,531,577	123,363
HI	14	—	29,836	160,978	22,962	29,836	183,939	213,775	43,351
ID	2	—	4,047	25,235	59	4,047	25,294	29,341	812
IL	105	16,231	210,472	1,107,463	43,952	209,924	1,151,964	1,361,888	82,109
IN	91	—	64,531	494,467	14,626	64,875	524,169	589,044	34,445
KS	1	—	366	1,897	1,150	366	3,047	3,413	1,555
KY	15	30,470	10,026	88,389	21,129	10,799	108,745	119,544	21,462
LA	10	—	16,673	126,604	5,591	16,674	132,194	148,868	8,844
MA	64	39,808	120,291	534,152	65,286	120,472	599,257	719,729	123,019
MD	44	74,081	157,195	450,952	36,025	156,605	487,567	644,172	111,043
ME	5	—	2,352	86,339	195	2,352	86,534	88,886	926
MI	8	4,301	10,900	63,388	6,630	10,900	70,018	80,918	13,061
MN	8	—	14,925	104,513	6,940	14,925	111,453	126,378	10,240
MO	28	—	31,800	347,070	8,250	31,758	355,362	387,120	13,743
MS	7	—	9,053	82,098	1,977	9,052	84,076	93,128	5,559
NC	52	—	93,492	557,728	14,431	93,489	572,161	665,650	32,134
NH	17	—	50,952	195,719	1,735	51,015	197,391	248,406	5,097
NJ	88	99,207	308,001	1,071,004	70,630	313,354	1,136,281	1,449,635	209,349
NM	11	25,153	31,826	68,779	6,909	31,826	75,689	107,515	17,000
NV	33	30,458	97,497	469,028	9,504	97,497	478,532	576,029	23,846
NY	79	12,895	340,256	1,195,359	66,207	340,991	1,260,831	1,601,822	105,190
OH	50	10,140	71,460	388,236	13,917	71,459	402,154	473,613	24,721
OK	4	—	3,917	28,534	159	3,917	28,693	32,610	429
OR	8	23,904	15,066	68,044	2,938	15,066	70,982	86,048	14,126
PA	31	10,635	57,671	356,325	29,609	56,997	386,607	443,604	46,425
RI	6	3,712	6,132	55,033	1,793	6,131	56,827	62,958	4,517
SC	40	27,701	65,032	385,333	13,408	65,036	398,737	463,773	41,190
TN	29	44,491	50,603	252,731	15,296	50,603	268,027	318,630	36,356
TX	241	104,794	534,804	2,603,707	97,822	534,655	2,701,678	3,236,333	212,009
UT	10	16,265	9,008	39,295	9,775	9,008	49,070	58,078	15,445
VA	73	56,422	198,998	842,848	37,952	198,998	880,800	1,079,798	127,878
WA	14	4,874	51,011	147,943	13,780	51,013	161,720	212,733	19,542
WI	1	—	1,076	16,054	70	1,076	16,123	17,199	173
DC	1	7,540	14,394	18,172	634	14,394	18,806	33,200	3,904
Other corporate assets		—	—	—	245,910	—	245,910	245,910	92,553
Intangible tenant relationships and lease rights		—	—	348,762	—	—	348,762	348,762	204,135
Construction in Progress/Undeveloped Land		—	22,985	2,779	124,265	34,987	118,745	153,732	—
Right of use asset - finance lease		—	—	—	143,841	—	143,843	143,843	3,960
Totals (1)	1,905	$1,279,105	$4,885,859	$20,652,053	$1,623,247	$4,904,705	$22,275,573	$27,180,278	$2,624,404

(1) No right-of-use assets related to operating leases are included in the ending net real estate assets information above.

Extra Space Storage Inc. Schedule III (continued)

Activity in real estate facilities during the years ended December 31, 2023, 2022 and 2021 is as follows:

	2023	2022	2021
Operating facilities
Balance at beginning of year	$12,084,025	$10,643,722	$9,507,788
Acquisitions	14,715,285	1,390,463	1,500,703
Improvements	175,932	95,282	80,131
Transfers from construction in progress	87,485	70,565	62,462
Dispositions and other	(1,194)	(116,007)	(507,362)
Balance at end of year	$27,061,533	$12,084,025	$10,643,722
Accumulated depreciation:
Balance at beginning of year	$2,138,395	$1,868,321	$1,681,429
Depreciation expense	486,010	276,155	230,445
Dispositions and other	—	(6,081)	(43,553)
Balance at end of year	$2,624,405	$2,138,395	$1,868,321
Real estate under development/redevelopment:
Balance at beginning of year	$52,348	$59,248	$67,443
Current development	153,920	63,597	54,267
Transfers to operating facilities	(87,523)	(70,565)	(62,462)
Dispositions and other	—	68	—
Balance at end of year	$118,745	$52,348	$59,248
Net non-lease real estate assets	$24,555,873	$9,997,978	$8,834,649

(1) No right-of-use assets related to operating leases are included in the ending net real estate assets information above.

As of December 31, 2023, the aggregate cost of real estate for U.S. federal income tax purposes was $17,961,173.

ContentsView on SEC.gov

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