Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

v3.22.4
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
REVENUE      
Rental revenue $ 748,814 $ 541,547 $ 394,660
Total revenue 801,569 585,671 432,222
OPERATING EXPENSES      
Property operating expenses 211,025 155,265 123,486
General and administrative expenses 59,311 51,001 43,640
Depreciation and amortization 233,158 158,312 117,174
Other 8,537 2,853 808
Total operating expenses 512,031 367,431 285,108
OTHER (EXPENSE) INCOME      
Interest expense (110,599) (72,062) (62,595)
Equity in earnings of unconsolidated real estate ventures 7,745 5,294 265
Acquisition costs (2,745) (1,941) (2,424)
Non-operating (expense) (951) (906) (1,211)
Gain on sale of self storage properties 5,466 0 0
Other expense (101,084) (69,615) (65,965)
Income before income taxes 188,454 148,625 81,149
Income tax expense (4,689) (1,690) (1,671)
Net income 183,765 146,935 79,478
Net income attributable to noncontrolling interests (80,028) (41,682) (30,869)
Net income attributable to National Storage Affiliates Trust 103,737 105,253 48,609
Distributions to preferred shareholders (13,425) (13,104) (13,097)
Net income attributable to common shareholders $ 90,312 $ 92,149 $ 35,512
EARNINGS PER SHARE      
Earnings per share - basic (in dollars per share) $ 0.99 $ 1.13 $ 0.53
Earnings per share - diluted (in dollars per share) $ 0.99 $ 0.98 $ 0.53
Weighted average shares outstanding - basic (in shares) 91,239 81,195 66,547
Weighted average shares outstanding - diluted (in shares) 91,239 134,538 66,607
Other property-related revenue      
REVENUE      
Revenue $ 25,131 $ 19,750 $ 14,524
Management fees and other revenue      
REVENUE      
Revenue $ 27,624 $ 24,374 $ 23,038