Segment Information (Tables)

3 Months Ended

Mar. 31, 2020

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,
	2020		2019
Revenues:
Self-Storage Operations	$	286,703	$	271,003
Tenant Reinsurance	33,613		29,797
Total segment revenues	$	320,316	$	300,800
Operating expenses:
Self-Storage Operations	$	90,297	$	78,765
Tenant Reinsurance	6,678		6,967
Total segment operating expenses	$	96,975	$	85,732
Net operating income:
Self-Storage Operations	$	196,406	$	192,238
Tenant Reinsurance	26,935		22,830
Total segment net operating income:	$	223,341	$	215,068
Other components of net income (loss):
Property management fees and other income	$	12,136	$	10,746
General and administrative expense	(23,011)		(22,678)
Depreciation and amortization expense	(55,275)		(54,659)
Interest expense	(44,358)		(47,360)
Non-cash interest expense related to amortization of discount on equity component of exchangeable senior notes	(1,209)		(1,162)
Interest income	1,674		1,388
Equity in earnings and dividend income from unconsolidated real estate entities	5,043		2,630
Income tax expense	(2,179)		(1,813)
Net income	$	116,162	$	102,160