Public Storage Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	1,784	2,072	2,148	4,349	1,953
Depreciation & Amortization	1,152	1,130	970.06	888.15	713.43
Other Amortization	10.35	9.73	7.97	-	-
Gain (Loss) on Sale of Assets	-1.11	-1.54	-17.18	-1.5	-13.68
Gain (Loss) on Sale of Investments	-	-	-	-2,129	-
Asset Writedown	4.35	-	-	-	-
Stock-Based Compensation	39.9	44.75	41.57	56.7	59.82
Income (Loss) on Equity Investments	-7.78	-8.78	1.44	27.79	-81.61
Change in Other Net Operating Assets	1.8	-29.79	18.9	-9.05	12.87
Other Operating Activities	202.76	-87.89	75.57	-65.23	-100.53
Operating Cash Flow	3,186	3,128	3,247	3,117	2,544
Operating Cash Flow Growth	1.86%	-3.65%	4.15%	22.55%	24.51%
Acquisition of Real Estate Assets	-1,625	-1,027	-1,649	-1,556	-5,424
Sale of Real Estate Assets	8.15	8.39	39.99	1.54	16.3
Net Sale / Acq. of Real Estate Assets	-1,617	-1,018	-1,609	-1,554	-5,408
Cash Acquisition	-	-	-2,178	-	-
Investment in Marketable & Equity Securities	-	13.29	10.98	2,650	19.52
Other Investing Activities	-131.23	-9.96	-	-	-
Investing Cash Flow	-1,685	-1,003	-3,539	1,120	-5,564
Long-Term Debt Issued	1,356	1,151	2,181	-	5,039
Long-Term Debt Repaid	-651.52	-808.51	-8.26	-513.5	-2.22
Net Debt Issued (Repaid)	704.9	342.52	2,173	-513.5	5,037
Issuance of Common Stock	9.41	107.6	53.13	35.27	95.86
Repurchase of Common Stock	-8.65	-212.67	-13.95	-16.83	-13.07
Preferred Stock Issued	-	-	-	250	1,183
Preferred Share Repurchases	-	-	-	-	-1,175
Common Dividends Paid	-	-	-	-	-1,402
Preferred Dividends Paid	-	-	-	-	-186.58
Common & Preferred Dividends Paid	-2,303	-2,302	-2,305	-3,908	-
Total Dividends Paid	-2,303	-2,302	-2,305	-3,908	-1,589
Other Financing Activities	-32.97	-14.09	-19.8	-39.72	-39.95
Foreign Exchange Rate Adjustments	-	-	-	-	0.51
Net Cash Flow	-129.32	47.04	-404.78	43.87	478.69
Cash Interest Paid	273.01	269.5	146.21	127.71	74.19
Cash Income Tax Paid	6.35	6.88	11.06	11.29	12.7
Levered Free Cash Flow	2,377	2,405	2,673	2,323	1,831
Unlevered Free Cash Flow	2,557	2,575	2,791	2,408	1,887
Change in Working Capital	1.8	-29.79	18.9	-9.05	12.87

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.