Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2017

SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III - Real Estate and Accumulated Depreciation

Extra Space Storage Inc.

Schedule III

Real Estate and Accumulated Depreciation

(Dollars in thousands)

As of December 31, 2017

						Building and Improvements Intial Cost		Adjustments and Costs Subsequent to Acquisition		Gross carrying amount at December 31, 2017
Self - Storage Facilities by State:	Store Count			Land Intial Cost								Building and Improvements				Accumulated Depreciation
		Debt								Land				Total
AL	8	$	28,937	$	7,690	$	42,770	$	2,749	$	7,691	$	45,518	$	53,209	$	5,629
AZ	22	39,996		24,250		109,844		7,614		24,248		117,460		141,708		16,873
CA	145	669,690		449,865		1,050,646		82,601		450,072		1,133,040		1,583,112		194,614
CO	13	28,411		9,785		45,004		12,959		9,972		57,776		67,748		14,611
CT	7	14,364		9,875		50,966		3,351		9,874		54,318		64,192		6,657
FL	82	325,016		141,187		532,262		41,778		142,081		573,146		715,227		97,830
GA	55	124,373		70,611		334,343		19,789		70,602		354,141		424,743		37,953
HI	9	39,041		17,663		133,870		4,703		17,663		138,573		156,236		17,887
IL	31	75,753		44,427		225,423		19,708		43,449		246,109		289,558		28,278
IN	15	16,511		12,447		58,247		4,728		12,447		62,975		75,422		7,870
KS	1	—		366		1,897		491		366		2,388		2,754		916
KY	10	31,023		7,914		61,852		4,099		7,914		65,951		73,865		7,675
LA	2	8,731		6,114		8,541		1,252		6,115		9,792		15,907		3,615
MA	41	109,919		61,040		217,696		34,110		61,221		251,625		312,846		63,898
MD	32	144,812		99,147		284,253		12,225		98,419		297,206		395,625		53,154
MI	6	2,785		7,657		38,777		1,865		7,657		40,642		48,299		2,744
MN	1	—		1,528		16,030		240		1,528		16,270		17,798		523
MO	5	14,671		4,129		15,444		2,977		4,086		18,464		22,550		6,143
MS	3	—		2,420		20,849		1,338		2,420		22,187		24,607		1,342
NC	16	30,490		28,298		91,659		3,300		28,296		94,961		123,257		5,391
NH	2	6,109		754		4,054		1,011		817		5,002		5,819		2,074
NJ	55	206,391		117,000		490,627		29,396		117,447		519,576		637,023		97,042
NM	10	11,513		22,889		61,575		3,521		22,889		65,096		87,985		5,103
NV	14	28,990		15,252		74,376		3,562		15,252		77,938		93,190		5,834
NY	22	117,779		121,479		232,875		20,664		122,215		252,803		375,018		44,859
OH	16	37,286		16,677		40,923		5,295		16,676		46,219		62,895		9,769
OR	6	31,070		7,906		39,576		1,116		7,906		40,692		48,598		5,261
PA	16	29,140		22,176		123,544		8,138		21,468		132,390		153,858		16,058
RI	2	7,852		3,191		6,926		946		3,191		7,872		11,063		2,426
SC	23	44,315		37,075		135,760		8,265		37,076		144,024		181,100		14,133
TN	17	48,717		25,938		91,497		6,246		25,938		97,743		123,681		12,135
TX	97	291,418		166,643		629,982		43,395		166,625		673,395		840,020		71,866
UT	10	21,938		9,008		39,295		9,636		9,008		48,931		57,939		7,515
VA	44	204,498		132,362		390,878		13,872		132,363		404,749		537,112		44,694
WA	8	32,080		12,528		47,645		1,791		12,530		49,434		61,964		8,581
DC	1	9,304		14,394		18,172		326		14,394		18,498		32,892		812
Other corporate assets		—		—		2,202		97,501		—		99,703		99,703		25,948
Intangible tenant relationships and lease rights		—		—		126,819		—		—		126,819		126,819		112,347
Construction in Progress/Undeveloped Land		—		17,874		—		29,275		13,245		33,904		47,149		—
Totals	847	$	2,832,923	$	1,749,559	$	5,897,098	$	545,834	$	1,745,161	$	6,447,330	$	8,192,491	$	1,060,060

Activity in real estate facilities during the years ended December 31, 2017, 2016 and 2015 is as follows:

	2017			2016			2015
Operating facilities
Balance at beginning of year	$	7,649,448		$	6,392,487		$	4,722,162
Acquisitions	628,391			1,159,304			1,609,608
Improvements	71,090			92,480			46,696
Transfers from construction in progress	19,079			26,400			19,971
Dispositions and other	(209,267		)	(21,223		)	(5,950		)
Balance at end of year	$	8,158,741		$	7,649,448		$	6,392,487
Accumulated depreciation:
Balance at beginning of year	$	900,861		$	728,087		$	604,336
Depreciation expense	185,903			174,906			123,751
Dispositions and other	(26,704		)	(2,132		)	—
Balance at end of year	$	1,060,060		$	900,861		$	728,087
Real estate under development/redevelopment:
Balance at beginning of year	$	21,860		$	24,909		$	17,870
Current development	33,484			23,404			27,010
Transfers to operating facilities	(19,079		)	(26,400		)	(19,971		)
Dispositions and other	(2,515		)	(53		)	—
Balance at end of year	$	33,750		$	21,860		$	24,909
Net real estate assets	$	7,132,431		$	6,770,447		$	5,689,309

As of December 31, 2017, the aggregate cost of real estate for U.S. federal income tax purposes was $6,914,712.