Segment Information (Tables)

6 Months Ended

Jun. 30, 2018

Segment Reporting [Abstract]

Schedule of Financial Information of Business Segments

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

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2018			2017			2018			2017
Revenues:
Self-Storage Operations	$	258,128		$	240,796		$	506,014		$	472,289
Tenant Reinsurance	28,521			24,313			55,555			47,168
Total segment revenues	286,649			265,109			561,569			519,457
Operating expenses:
Self-Storage Operations	$	73,083		$	67,295		$	145,836		$	133,940
Tenant Reinsurance	5,471			3,804			11,078			7,724
Total segment operating expenses	$	78,554		$	71,099		$	156,914		$	141,664
Net operating income:
Self-Storage Operations	185,045			173,501			360,178			338,349
Tenant Reinsurance	23,050			20,509			44,477			39,444
Total segment net operating income:	$	208,095		$	194,010		$	404,655		$	377,793
Other components of net income (loss):
Property management fees and other income	10,164			10,894			20,729			19,554
General and administrative expense	(21,651		)	(21,865		)	(43,115		)	(40,673		)
Depreciation and amortization expense	(51,892		)	(46,632		)	(103,641		)	(96,064		)
Loss on real estate transactions and impairment of real estate	—			(6,019		)	—			(6,019		)
Interest expense	(43,347		)	(37,456		)	(84,313		)	(73,426		)
Non-cash interest expense related to the amortization of discount on equity component of exchangeable senior notes	(1,176		)	(1,290		)	(2,385		)	(2,559		)
Interest income	1,188			1,485			2,626			3,800
Equity in earnings of unconsolidated real estate ventures	3,429			3,838			7,026			7,417
Income tax expense	(2,097		)	(2,867		)	(3,439		)	(5,991		)
Net income	$	102,713		$	94,098		$	198,143		$	183,832