Segment Information (Tables)

3 Months Ended

Mar. 31, 2019

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 March 31,
	2019			2018
Revenues:
Self-Storage Operations	$	271,003		$	247,886
Tenant Reinsurance	29,797			27,034
Total segment revenues	$	300,800		$	274,920
Operating expenses:
Self-Storage Operations	$	78,765		$	72,753
Tenant Reinsurance	6,967			5,607
Total segment operating expenses	$	85,732		$	78,360
Net operating income:
Self-Storage Operations	$	192,238		$	175,133
Tenant Reinsurance	22,830			21,427
Total segment net operating income:	$	215,068		$	196,560
Other components of net income (loss):
Property management fees and other income	$	10,746		$	10,565
General and administrative expense	(22,678		)	(21,464		)
Depreciation and amortization expense	(54,659		)	(51,749		)
Interest expense	(47,360		)	(40,966		)
Non-cash interest expense related to the amortization of discount on equity component of exchangeable senior notes	(1,162		)	(1,209		)
Interest income	1,388			1,438
Equity in earnings of unconsolidated real estate ventures	2,630			3,597
Income tax expense	(1,813		)	(1,342		)
Net income	$	102,160		$	95,430