Public Storage (PSA)

Public Storage Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	1,971	2,072	2,148	4,349	1,953	1,357
Depreciation & Amortization	1,127	1,130	970.06	888.15	713.43	553.26
Gain (Loss) on Sale of Assets	-0.71	-1.54	-17.18	-1.5	-13.68	-1.49
Gain (Loss) on Sale of Investments	-	-	-	-2,129	-	-
Stock-Based Compensation	44.68	44.75	41.57	56.7	59.82	33.36
Income (Loss) on Equity Investments	-6.24	-8.78	1.44	27.79	-81.61	-8.4
Change in Other Net Operating Assets	-0.11	-29.79	18.9	-9.05	12.87	-
Other Operating Activities	28.14	-78.17	83.54	-65.23	-100.53	108.96
Operating Cash Flow	3,168	3,128	3,247	3,117	2,544	2,043
Operating Cash Flow Growth	-1.48%	-3.65%	4.15%	22.55%	24.51%	-1.20%
Acquisition of Real Estate Assets	-1,103	-1,027	-1,649	-1,556	-5,424	-1,137
Sale of Real Estate Assets	8.56	8.39	39.99	1.54	16.3	1.8
Net Sale / Acq. of Real Estate Assets	-1,095	-1,018	-1,609	-1,554	-5,408	-1,135
Cash Acquisition	-	-	-2,178	-	-	-
Investment in Marketable & Equity Securities	13.29	13.29	10.98	2,650	19.52	24.66
Other Investing Activities	-33.6	-9.96	-	-	-	7.51
Investing Cash Flow	-1,103	-1,003	-3,539	1,120	-5,564	-1,118
Long-Term Debt Issued	-	1,151	2,181	-	5,039	545.15
Long-Term Debt Repaid	-	-808.51	-8.26	-513.5	-2.22	-2.02
Total Debt Repaid	-808.5	-808.51	-8.26	-513.5	-2.22	-2.02
Net Debt Issued (Repaid)	342.52	342.52	2,173	-513.5	5,037	543.13
Issuance of Common Stock	102.98	107.6	53.13	35.27	95.86	12.66
Repurchase of Common Stock	-210.01	-212.67	-13.95	-16.83	-13.07	-10.52
Preferred Stock Issued	-	-	-	250	1,183	1,248
Preferred Share Repurchases	-	-	-	-	-1,175	-1,220
Common Dividends Paid	-	-	-	-	-1,402	-1,399
Preferred Dividends Paid	-	-	-	-	-186.58	-207.07
Common & Preferred Dividends Paid	-2,301	-2,302	-2,305	-3,908	-	-
Total Dividends Paid	-2,301	-2,302	-2,305	-3,908	-1,589	-1,606
Other Financing Activities	-14.68	-14.09	-19.8	-39.72	-39.95	-42.06
Foreign Exchange Rate Adjustments	-	-	-	-	0.51	-0.43
Net Cash Flow	-15.01	47.04	-404.78	43.87	478.69	-150.95
Cash Interest Paid	276.26	269.5	146.21	127.71	74.19	52.7
Cash Income Tax Paid	5.13	6.88	11.06	11.29	12.7	-
Levered Free Cash Flow	2,434	2,405	2,665	2,323	1,831	1,489
Unlevered Free Cash Flow	2,617	2,585	2,791	2,408	1,887	1,524
Change in Net Working Capital	-46.88	-19.63	-83.84	-29.38	-85.79	-17.64

Updated Apr 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

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