|Exchange:||New York Stock Exchange|
|Industry:||REIT - Industrial|
|Public Storage was organized in 1980. The Company's principal business activities include the acquisition, development, ownership and operation of self-storage facilities which offer storage spaces for lease, generally on a month-to-month basis, for personal and business use. The Company owns and operates self-storage facilities in the United States and also have an equity interest in Shurgard Europe, a private company and an equity interest in PS Business Parks, Inc. whose business activities primarily include the ownership and operations of commercial properties. At December 31, 2012, the Company operates within three reportable segments described below: Domestic Self-Storage, Europe Self-Storage and Commercial. The Domestic Self-Storage segment, at December 31, 2012, includes the Company's direct and indirect equity interests in 2,065 self-storage facilities operating under the ‘Public Storage’ brand name. The European Self-Storage segment comprises the Company’s interest in Shurgard Europe, which has a separate management team reporting directly to the chief operating decision maker and the joint venture partner. The European Self-Storage segment includes the Company’s equity share of Shurgard Europe’s operations, the interest and other income received from Shurgard Europe, and foreign currency exchange gains and losses that are attributable to Shurgard Europe. The Commercial segment comprises of the investment in PSB, a self-managed REIT with a separate management team that makes its financing, capital allocation and other significant decisions. The Commercial segment also includes direct interest in certain commercial facilities, all of which are managed by PSB. The Commercial segment presentation includes equity earnings and interest income from PSB, as well as the revenues and expenses of commercial facilities. At December 31, 2012, the assets of the Commercial segment are comprised principally of investment in PSB The Company's business is subject to regulation under a variety of U.S. federal, state and local laws, regulations and policies including those imposed by the SEC.|
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