Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2019

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, 2019

						Building and Improvements Initial Cost		Adjustments and Costs to Land and Building Subsequent to Acquisition		Gross carrying amount at December 31, 2019
Self - Storage Facilities by State:	Store Count			Land Initial Cost								Building and Improvements				Accumulated Depreciation
		Debt								Land				Total
AL	8	$	29,567	$	7,690	$	42,770	$	3,693	$	7,691	$	46,462	$	54,153	$	8,277
AZ	23	21,845		27,535		117,304		9,574		27,533		126,880		154,413		24,239
CA	165	531,406		539,355		1,166,591		109,246		540,043		1,275,149		1,815,192		264,874
CO	16	30,432		16,809		71,894		16,652		17,527		87,828		105,355		19,546
CT	7	23,557		9,875		50,966		4,766		9,874		55,733		65,607		9,934
FL	91	263,634		163,455		588,353		56,727		163,919		644,616		808,535		134,121
GA	63	85,820		83,742		406,477		27,502		83,726		433,995		517,721		60,262
HI	13	31,029		17,663		133,870		6,025		17,663		139,895		157,558		25,676
IL	37	50,669		45,435		234,396		25,785		44,888		260,728		305,616		43,160
IN	15	10,987		12,447		58,247		5,850		12,447		64,097		76,544		11,698
KS	1	—		366		1,897		866		366		2,763		3,129		1,087
KY	11	34,066		8,640		68,679		18,260		9,412		86,167		95,579		12,296
LA	2	—		6,114		8,541		1,312		6,115		9,852		15,967		4,221
MA	46	105,046		73,544		270,243		50,778		73,725		320,840		394,565		80,863
MD	32	118,007		99,147		284,253		16,756		97,180		302,976		400,156		70,387
MI	7	5,792		9,583		51,359		3,239		9,583		54,598		64,181		5,740
MN	5	—		7,377		50,057		514		7,377		50,571		57,948		2,585
MO	5	—		4,129		15,444		4,107		4,086		19,594		23,680		7,392
MS	3	—		2,420		20,849		1,450		2,420		22,299		24,719		2,635
NC	19	28,221		31,969		104,104		7,379		31,967		111,485		143,452		11,241
NH	2	5,938		754		4,054		1,278		817		5,269		6,086		2,388
NJ	59	155,754		134,032		560,512		41,422		137,258		598,708		735,966		129,970
NM	11	17,689		32,252		71,142		5,049		32,252		76,191		108,443		9,373
NV	14	37,557		15,252		74,376		4,671		15,252		79,047		94,299		10,422
NY	27	43,218		121,945		230,875		34,801		122,680		264,941		387,621		59,450
OH	17	34,470		17,788		50,493		6,733		17,787		57,227		75,014		13,318
OR	6	30,267		7,906		39,576		2,042		7,906		41,618		49,524		7,545
PA	18	34,475		24,297		149,144		12,297		23,589		162,149		185,738		24,480
RI	2	11,841		3,191		6,926		1,253		3,191		8,179		11,370		2,939
SC	23	43,543		37,075		135,760		10,029		37,076		145,788		182,864		22,598
TN	17	45,601		25,938		91,497		8,750		25,938		100,247		126,185		18,046
TX	100	213,291		169,160		648,128		57,365		169,012		705,641		874,653		112,790
UT	10	13,181		9,008		39,295		2,247		9,008		41,542		50,550		9,854
VA	46	163,675		139,318		414,335		19,385		139,319		433,719		573,038		69,063
WA	8	20,345		12,528		47,645		2,694		12,530		50,337		62,867		11,380
DC	1	8,762		14,394		18,172		429		14,394		18,601		32,995		1,824
Other corporate assets		—		—		2,202		138,483		—		140,685		140,685		40,298
Intangible tenant relationships and lease rights		—		—		132,000		2,932		—		134,932		134,932		127,712
Construction in Progress/Undeveloped Land		—		5,978		—		39,788		3,372		42,394		45,766		—
Right of use asset - finance lease (1)		—		—		—		8,050		—		8,050		8,050		168
Totals (1)	930	$	2,249,685	$	1,938,111	$	6,462,425	$	770,180	$	1,938,923	$	7,231,793	$	9,170,716	$	1,473,852

(1) No right-of-use assets related to operating leases are included in the ending net real estate assets information above. As of December 31, 2019, there was a right-of-use asset relating to a finance lease in the amount of $8,050 included in net real estate assets on the Company's consolidated balance sheets.

Activity in real estate facilities during the years ended December 31, 2019, 2018 and 2017 is as follows:

	2019			2018			2017
Operating facilities
Balance at beginning of year	$	8,709,315		$	8,158,741		$	7,649,448
Acquisitions	303,588			459,223			628,391
Improvements	68,459			64,336			71,090
Transfers from construction in progress	59,614			49,449			19,079
Dispositions and other	(11,418		)	(22,434		)	(209,267		)
Balance at end of year	$	9,129,558		$	8,709,315		$	8,158,741
Accumulated depreciation:
Balance at beginning of year	$	1,262,438		$	1,060,060		$	900,861
Depreciation expense	212,202			203,030			185,903
Dispositions and other	(789		)	(652		)	(26,704		)
Balance at end of year	$	1,473,851		$	1,262,438		$	1,060,060
Real estate under development/redevelopment:
Balance at beginning of year	$	44,954		$	33,750		$	21,860
Current development	55,817			60,677			33,484
Transfers to operating facilities	(59,614		)	(49,449		)	(19,079		)
Dispositions and other	—			(24		)	(2,515		)
Balance at end of year	$	41,157		$	44,954		$	33,750
Net non-lease real estate assets (1)	$	7,696,864		$	7,491,831		$	7,132,431

(1) No right-of-use assets related to operating leases leases are included in the ending net real estate assets information above. As of December 31, 2019, there was a right-of-use asset relating to a finance lease in the amount of $8,050 included in net real estate assets on the Company's consolidated balance sheets.

As of December 31, 2019, the aggregate cost of real estate for U.S. federal income tax purposes was $7,721,422.