Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
ASSETS
Cash and equivalents	$ 1,268,475	$ 409,743
Real estate facilities, at cost:
Land	4,300,406	4,186,873
Buildings	12,397,440	12,102,273
Real estate facilities, gross	16,697,846	16,289,146
Accumulated depreciation	(6,881,358)	(6,623,475)
Real estate facilities, net	9,816,488	9,665,671
Construction in process	153,382	141,934
Total real estate facilities	9,969,870	9,807,605
Investments in unconsolidated real estate entities	753,358	767,816
Goodwill and other intangible assets, net	206,922	205,936
Other assets	159,430	174,344
Total assets	12,358,055	11,365,444
LIABILITIES AND EQUITY
Notes payable	2,457,871	1,902,493
Preferred shares called for redemption (Note 8)	495,000
Accrued and other liabilities	394,986	383,284
Total liabilities	3,347,857	2,285,777
Commitments and contingencies (Note 12)
Public Storage shareholders' equity:
Preferred Shares, $0.01 par value, 100,000,000 shares authorized, 165,400 shares issued (in series) and outstanding, (162,600 at December 31, 2019), at liquidation preference	4,135,000	4,065,000
Common Shares, $0.10 par value, 650,000,000 shares authorized, 174,498,918 shares issued and outstanding (174,418,615 shares at December 31, 2019)	17,450	17,442
Paid-in capital	5,702,466	5,710,934
Accumulated deficit	(789,089)	(665,575)
Accumulated other comprehensive loss	(73,136)	(64,890)
Total Public Storage shareholders’ equity	8,992,691	9,062,911
Noncontrolling interests	17,507	16,756
Total equity	9,010,198	9,079,667
Total liabilities and equity	$ 12,358,055	$ 11,365,444