Segment Information (Tables)

3 Months Ended

Mar. 31, 2018

Segment Reporting [Abstract]

Schedule of Financial Information of Business Segments

Financial information for the Company’s business segments is set forth below:

	Three Months Ended March 31,
	2018			2017
Revenues:
Self-Storage Operations	$	247,886		$	231,493
Tenant Reinsurance	27,034			22,855
Total segment revenues	274,920			254,348
Operating expenses:
Self-Storage Operations	$	72,753		$	66,645
Tenant Reinsurance	5,607			3,920
Total segment operating expenses	$	78,360		$	70,565
Net operating income:
Self-Storage Operations	175,133			164,848
Tenant Reinsurance	21,427			18,935
Total segment net operating income:	$	196,560		$	183,783
Other components of net income (loss):
Property management fees and other income	10,565			8,660
General and administrative expense	(21,464		)	(18,808		)
Depreciation and amortization expense	(51,749		)	(49,432		)
Interest expense	(40,966		)	(35,970		)
Non-cash interest expense related to the amortization of discount on equity component of exchangeable senior notes	(1,209		)	(1,269		)
Interest income	1,438			2,315
Equity in earnings of unconsolidated real estate ventures	3,597			3,579
Income tax expense	(1,342		)	(3,124		)
Net income	$	95,430		$	89,734