Segment Information (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Schedule of Financial Information of Business Segments

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

	Year Ended December 31,
	2019			2018			2017
Revenues:
Self-Storage Operations	$	1,130,177		$	1,039,340		$	967,229
Tenant Reinsurance	128,387			115,507			98,401
Total segment revenues	$	1,258,564		$	1,154,847		$	1,065,630
Operating expenses:
Self-Storage Operations	$	336,050		$	291,695		$	271,974
Tenant Reinsurance	29,376			25,707			19,173
Total segment operating expenses	$	365,426		$	317,402		$	291,147
Net operating income:
Self-Storage Operations	$	794,127		$	747,645		$	695,255
Tenant Reinsurance	99,011			89,800			79,228
Total segment net operating income:	$	893,138		$	837,445		$	774,483
Total segment net operating income	$	893,138		$	837,445		$	774,483
Other components of net income (loss):
Property management fees and other income	49,890			41,757			39,379
General and administrative expense	(89,418		)	(81,256		)	(78,961		)
Depreciation and amortization expense	(219,857		)	(209,050		)	(193,296		)
Gain on real estate transactions and impairment of real estate	1,205			30,807			112,789
Interest expense	(186,526		)	(178,436		)	(153,511		)
Non-cash interest expense related to the amortization of discount on equity component of exchangeable senior notes	(4,742		)	(4,687		)	(5,103		)
Interest income	7,467			5,292			6,736
Equity in earnings of unconsolidated real estate entities	11,274			14,452			15,331
Income tax expense	(11,308		)	(9,244		)	(3,625		)
Net income	$	451,123		$	447,080		$	514,222