Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2018

SEC Schedule, 12-28, Real Estate Companies, Investment in 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, 2018

						Building and Improvements Initial Cost		Adjustments and Costs to Land and Building Subsequent to Acquisition		Gross carrying amount at December 31, 2018
Self - Storage Facilities by State:	Store Count			Land Initial Cost								Building and Improvements				Accumulated Depreciation
		Debt								Land				Total
AL	8	$	30,215	$	7,690	$	42,770	$	3,156	$	7,691	$	45,925	$	53,616	$	6,928
AZ	23	39,974		27,535		117,304		8,680		27,533		125,986		153,519		20,509
CA	146	699,982		446,176		1,069,102		91,467		446,863		1,159,882		1,606,745		227,969
CO	15	39,092		15,700		62,816		14,186		15,887		76,815		92,702		16,942
CT	7	23,869		9,875		50,966		3,861		9,874		54,828		64,702		8,279
FL	86	331,556		161,109		579,419		45,736		161,573		624,691		786,264		115,603
GA	59	104,806		77,306		372,157		22,117		77,290		394,290		471,580		48,711
HI	9	39,644		17,663		133,870		5,094		17,663		138,964		156,627		21,756
IL	31	58,189		44,427		225,423		21,944		43,449		248,345		291,794		35,630
IN	15	11,149		12,447		58,247		5,118		12,447		63,365		75,812		9,767
KS	1	—		366		1,897		529		366		2,426		2,792		997
KY	11	34,817		8,640		68,679		4,558		8,640		73,237		81,877		9,813
LA	2	—		6,114		8,541		1,297		6,115		9,837		15,952		3,919
MA	45	126,966		72,445		254,383		36,722		72,626		290,924		363,550		71,855
MD	32	140,841		99,147		284,253		14,408		97,180		300,628		397,808		61,719
MI	7	8,639		9,583		51,359		2,025		9,583		53,384		62,967		4,206
MN	4	—		6,681		42,252		277		6,681		42,529		49,210		1,348
MO	5	5,981		4,129		15,444		3,510		4,086		18,997		23,083		6,752
MS	3	—		2,420		20,849		1,403		2,420		22,252		24,672		1,983
NC	18	33,835		31,969		104,104		3,769		31,967		107,875		139,842		8,128
NH	2	6,024		754		4,054		1,108		817		5,099		5,916		2,225
NJ	59	201,091		134,032		560,512		34,227		134,479		594,292		728,771		113,188
NM	11	22,055		32,252		71,142		4,177		32,252		75,319		107,571		7,175
NV	14	35,797		15,252		74,376		4,081		15,252		78,457		93,709		8,114
NY	23	97,930		122,835		240,816		29,767		123,570		269,848		393,418		52,400
OH	17	43,789		17,788		50,493		5,983		17,787		56,477		74,264		11,500
OR	6	30,885		7,906		39,576		1,414		7,906		40,990		48,896		6,389
PA	17	34,544		23,376		132,317		9,331		22,668		142,356		165,024		19,949
RI	2	10,327		3,191		6,926		1,176		3,191		8,102		11,293		2,676
SC	23	44,560		37,075		135,760		8,834		37,076		144,593		181,669		18,349
TN	17	49,475		25,938		91,497		7,321		25,938		98,818		124,756		15,043
TX	99	279,717		169,160		648,128		52,440		169,012		700,716		869,728		91,986
UT	10	16,625		9,008		39,295		10,044		9,008		49,339		58,347		8,925
VA	46	228,363		139,318		414,335		16,668		139,319		431,002		570,321		56,712
WA	8	33,203		12,528		47,645		2,349		12,530		49,992		62,522		9,965
DC	1	9,038		14,394		18,172		356		14,394		18,528		32,922		1,311
Other corporate assets		—		—		2,202		116,855		—		119,057		119,057		32,473
Intangible tenant relationships and lease rights		—		—		132,000		—		—		132,000		132,000		121,238
Construction in Progress/Undeveloped Land		—		10,937		—		48,034		7,359		51,612		58,971		6
Totals	882	$	2,872,978	$	1,837,166	$	6,273,080	$	644,023	$	1,832,492	$	6,921,777	$	8,754,269	$	1,262,438

Activity in real estate facilities during the years ended December 31, 2018, 2017 and 2016 is as follows:

	2018			2017			2016
Operating facilities
Balance at beginning of year	$	8,158,741		$	7,649,448		$	6,392,487
Acquisitions	459,223			628,391			1,159,304
Improvements	64,336			71,090			92,480
Transfers from construction in progress	49,449			19,079			26,400
Dispositions and other	(22,434		)	(209,267		)	(21,223		)
Balance at end of year	$	8,709,315		$	8,158,741		$	7,649,448
Accumulated depreciation:
Balance at beginning of year	$	1,060,060		$	900,861		$	728,087
Depreciation expense	203,030			185,903			174,906
Dispositions and other	(652		)	(26,704		)	(2,132		)
Balance at end of year	$	1,262,438		$	1,060,060		$	900,861
Real estate under development/redevelopment:
Balance at beginning of year	$	33,750		$	21,860		$	24,909
Current development	60,677			33,484			23,404
Transfers to operating facilities	(49,449		)	(19,079		)	(26,400		)
Dispositions and other	(24		)	(2,515		)	(53		)
Balance at end of year	$	44,954		$	33,750		$	21,860
Net real estate assets	$	7,491,831		$	7,132,431		$	6,770,447

As of December 31, 2018, the aggregate cost of real estate for U.S. federal income tax purposes was $7,306,350.