Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Assets:
Real estate assets, net	$ 25,004,350	$ 24,587,627
Real estate assets - operating lease right-of-use assets	732,176	689,803
Investments in unconsolidated real estate entities	1,066,783	1,332,338
Investments in debt securities and notes receivable	1,806,526	1,550,950
Cash and cash equivalents	138,920	138,222
Other assets, net	515,291	548,986
Total assets	29,264,046	28,847,926
Liabilities, Noncontrolling Interests and Equity:
Secured notes payable, net	1,079,565	1,010,541
Unsecured term loans, net	1,494,659	2,192,507
Unsecured senior notes, net	9,432,427	7,756,968
Revolving lines of credit and commercial paper	1,224,000	1,362,000
Operating lease liabilities	761,106	705,845
Cash distributions in unconsolidated real estate ventures	73,701	75,319
Accounts payable and accrued expenses	357,583	346,519
Other liabilities	516,969	538,865
Total liabilities	14,940,010	13,988,564
Commitments and contingencies
Extra Space Storage Inc. stockholders’ equity:
Preferred stock, $0.01 par value, 50,000,000 shares authorized, no shares issued or outstanding	0	0
Common stock, $0.01 par value, 500,000,000 shares authorized, 211,155,322 and 211,995,510 shares issued and outstanding at December 31, 2025 and 2024, respectively	2,112	2,120
Additional paid-in capital	14,880,646	14,831,946
Accumulated other comprehensive income	(420)	12,806
Accumulated deficit	(1,449,172)	(899,337)
Total Extra Space Storage Inc. stockholders’ equity	13,433,166	13,947,535
Noncontrolling interest represented by Preferred Operating Partnership units	53,827	76,092
Noncontrolling interests in Operating Partnership, net and other noncontrolling interests	837,043	835,735
Total noncontrolling interests and equity	14,324,036	14,859,362
Total liabilities, noncontrolling interests and equity	$ 29,264,046	$ 28,847,926