Public Storage (PSA) 10-Q 6 May 15 2015 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2015	4-May-15
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Entity Registrant Name	Public Storage
Entity Central Index Key	1393311
Current Fiscal Year End Date	-19
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		172,895,881

Balance_Sheets

Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
ASSETS
Cash and cash equivalents	$152,797	$187,712
Real estate facilities, at cost:
Land	3,488,609	3,476,883
Buildings	9,431,266	9,386,352
Real estate facilities, gross	12,919,875	12,863,235
Accumulated depreciation	-4,574,373	-4,482,520
Real estate facilities, net	8,345,502	8,380,715
Construction in process	135,896	104,573
Total real estate facilities	8,481,398	8,485,288
Investments in unconsolidated real estate entities	792,280	813,740
Goodwill and other intangible assets, net	221,330	228,632
Other assets	124,212	103,304
Total assets	9,772,017	9,818,676
LIABILITIES AND EQUITY
Notes payable	58,657	64,364
Preferred shares called for redemption (Note 8)	145,000
Accrued and other liabilities	264,439	247,141
Total liabilities	468,096	311,505
Commitments and contingencies (Note 12)
Public Storage shareholders' equity:
Preferred Shares, $0.01 par value, 100,000,000 shares authorized, 167,200 shares issued (in series) and outstanding, (173,000 at December 2014), at liquidation preference	4,180,000	4,325,000
Common Shares, $0.10 par value, 650,000,000 shares authorized, 172,594,849 shares issued and outstanding (172,445,554 shares at December 31, 2014)	17,260	17,245
Paid-in capital	5,558,112	5,561,530
Accumulated deficit	-398,905	-374,823
Accumulated other comprehensive loss	-78,572	-48,156
Total Public Storage shareholders’ equity	9,277,895	9,480,796
Noncontrolling interests	26,026	26,375
Total equity	9,303,921	9,507,171
Total liabilities and equity	$9,772,017	$9,818,676

Balance_Sheets_Parenthetical

Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Cumulative Preferred Shares Of Beneficial Interest
Par value	$0.01	$0.01
Shares authorized	100,000,000	100,000,000
Shares issued (in series)	167,200	173,000
Shares outstanding	167,200	173,000
Common Shares Of Beneficial Interest
Par value	$0.10	$0.10
Shares authorized	650,000,000	650,000,000
Shares issued	172,594,849	172,445,554
Shares outstanding	172,594,849	172,445,554

Statements_Of_Income

Statements Of Income (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Revenues:
Self-storage facilities	$530,637	$485,587
Ancillary operations	38,757	34,037
Total revenues	569,394	519,624
Expenses:
Self-storage cost of operations	161,242	156,068
Ancillary cost of operations	11,920	18,451
Depreciation and amortization	107,146	109,021
General and administrative	24,160	18,989
Operating expenses	304,468	302,529
Operating income	264,926	217,095
Interest and other income	672	2,402
Interest expense		-3,480
Equity in earnings of unconsolidated real estate entities	16,184	14,604
Foreign currency exchange loss		-2,348
Gain on real estate sales	1,472
Net income	283,254	228,273
Allocation to noncontrolling interests	-1,473	-1,077
Net income allocable to Public Storage shareholders	281,781	227,196
Allocation of net income to:
Preferred shareholders	-63,555	-52,507
Preferred shareholders - redemptions (Note 8)	-4,784
Restricted share units	-829	-637
Net income allocated to common shareholders	$212,613	$174,052
Net income per common share - basic
Basic	$1.23	$1.01
Net income per common share - diluted
Diluted	$1.23	$1.01
Basic weighted average common shares outstanding	172,520	171,910
Diluted weighted average common shares outstanding	173,366	172,809
Cash dividends declared per common share	$1.40	$1.40

Statements_Of_Comprehensive_In

Statements Of Comprehensive Income (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Statement Of Comprehensive Income [Abstract]
Net income	$283,254	$228,273
Other comprehensive income (loss):
Aggregate foreign currency exchange (loss)	-30,416	-1,863
Adjust for foreign currency exchange loss included in net income		2,348
Other comprehensive (loss) income	-30,416	485
Total comprehensive income	252,838	228,758
Allocation to noncontrolling interests	-1,473	-1,077
Comprehensive income allocable to Public Storage shareholders	$251,365	$227,681

Statement_Of_Equity

Statement Of Equity (USD $)	Cumulative Preferred Shares [Member]	Common Shares [Member]	Paid-In Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss [Member]	Total Public Storage Shareholders' Equity [Member]	Noncontrolling Interests [Member]	Total
In Thousands, unless otherwise specified
Balances at Dec. 31, 2014	$4,325,000	$17,245	$5,561,530	($374,823)	($48,156)	$9,480,796	$26,375	$9,507,171
Redemption of 5,800 preferred shares (Note 8)	-145,000					-145,000		-145,000
Issuance of common shares in connection with share-based compensation (149,295 shares) (Note 10)		15	3,694			3,709		3,709
Cash paid in lieu of common shares, net of share-based compensation expense (Note 10)			-7,112			-7,112		-7,112
Net income				283,254		283,254		283,254
Net income allocated to noncontrolling interests				-1,473		-1,473	1,473
Distributions to equity holders:
Preferred shares (Note 8)				-63,555		-63,555		-63,555
Noncontrolling interests							-1,822	-1,822
Common shares and restricted share units ($1.40 per share)				-242,308		-242,308		-242,308
Other comprehensive loss (Note 2)					-30,416	-30,416		-30,416
Balances at Mar. 31, 2015	$4,180,000	$17,260	$5,558,112	($398,905)	($78,572)	$9,277,895	$26,026	$9,303,921

Statement_Of_Equity_Parentheti

Statement Of Equity (Parenthetical) (USD $)	3 Months Ended
	Mar. 31, 2015
Statement Of Equity [Abstract]
Issuance of preferred shares, shares	5,800
Issuance of common shares in connection with share-based compensation, shares	149,295
Common shares, per share distribution	$1.40

Statements_Of_Cash_Flows

Statements Of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net income	$283,254	$228,273
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on real estate sales	-1,472
Depreciation and amortization	107,146	109,021
Distributions received from unconsolidated real estate entities less than equity in earnings	-8,019	-1,728
Foreign currency exchange loss		2,348
Other	-11,718	-7,205
Total adjustments	85,937	102,436
Net cash provided by operating activities	369,191	330,709
Cash flows from investing activities:
Capital expenditures to maintain real estate facilities	-7,899	-13,136
Construction in process	-62,656	-25,517
Acquisition of real estate facilities and intangible assets	-32,291
Proceeds from sales of real estate facilities	9,237
Disposition of portion of loan receivable from Shurgard Europe		216,217
Other	-538	-4,495
Net cash (used in) provided by investing activities	-94,147	173,069
Cash flows from financing activities:
Repayments on bank credit facility		-50,100
Repayments on term loan		-328,000
Repayments on notes payable	-5,537	-710
Issuance of preferred shares		227,497
Issuance of common shares	3,709	25,409
Distributions paid to Public Storage shareholders	-305,863	-294,226
Distributions paid to noncontrolling interests	-1,822	-1,779
Net cash used in financing activities	-309,513	-421,909
Net (decrease) increase in cash and cash equivalents	-34,469	81,869
Net effect of foreign exchange translation on cash and cash equivalents	-446	74
Cash and cash equivalents at the beginning of the period	187,712	19,169
Cash and cash equivalents at the end of the period	152,797	101,112
Foreign currency translation adjustment:
Real estate facilities, net of accumulated depreciation	491	-116
Investments in unconsolidated real estate entities	29,479	-312
Loan receivable from Shurgard Europe		2,365
Accumulated other comprehensive loss	-30,416	-1,863
Preferred shares called for redemption and reclassified to liabilities	145,000
Preferred shares called for redemption and reclassified from equity	($145,000)

Description_Of_The_Business

Description Of The Business	3 Months Ended
	Mar. 31, 2015
Description Of The Business [Abstract]
Description Of The Business
	1.Description of the Business
	Public Storage (referred to herein as “the Company”, “we”, “us”, or “our”), a Maryland real estate investment trust, was organized in 1980.  Our 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.
	At March 31, 2015, we have direct and indirect equity interests in 2,258 self-storage facilities (with approximately 146 million net rentable square feet) located in 38 states in the United States (“U.S.”) operating under the “Public Storage” name.  We also own one self-storage facility in London, England and we have a 49% interest in Shurgard Europe, which owns 192 self-storage facilities (with approximately 10 million net rentable square feet) located in seven Western European countries, all operating under the “Shurgard” name.  We also have direct and indirect equity interests in approximately 30 million net rentable square feet of commercial space located in 10 states in the U.S. primarily owned and operated by PS Business Parks, Inc. (“PSB”) under the “PS Business Parks” name.  At March 31, 2015, we have an approximate 42% common equity interest in PSB.
	Disclosures of the number and square footage of properties, as well as the number and coverage of tenant reinsurance policies are unaudited and outside the scope of our independent registered public accounting firm’s review of our financial statements in accordance with the standards of the Public Company Accounting Oversight Board (U.S.).

Summary_Of_Significant_Account

Summary Of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2015
Summary Of Significant Accounting Policies [Abstract]
Summary Of Significant Accounting Policies	2.Summary of Significant Accounting Policies
	Basis of Presentation
	The accompanying unaudited interim financial statements were prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) as defined in the Financial Accounting Standards Board Accounting Standards Codification (the “Codification”), including guidance with respect to interim financial information and in conformity with the instructions to Form 10-Q and Article 10 of Regulation S-X.  While they do not include all of the disclosures required by GAAP for complete financial statements, we believe that we have included all adjustments (consisting of normal and recurring adjustments) necessary for a fair presentation.  Operating results for the three months ended March 31, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 due to seasonality and other factors.  These interim financial statements should be read together with the audited financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014.
	Consolidation and Equity Method of Accounting
	We consider entities to be Variable Interest Entities (“VIEs”) when they have insufficient equity to finance their activities without additional subordinated financial support provided by other parties, or where the equity holders as a group do not have a controlling financial interest.  We have no investments or other involvement in any VIEs.
	We consolidate all entities that we control (these entities, for the period in which the reference applies, are referred to collectively as the “Subsidiaries”), and we eliminate intercompany transactions and balances.  We account for our investments in entities that we have significant influence over, but do not control, using the equity method of accounting (these entities, for the periods in which the reference applies, are referred to collectively as the “Unconsolidated Real Estate Entities”), eliminating intra-entity profits and losses and amortizing any differences between the cost of our investment and the underlying equity in net assets against equity in earnings as if the Unconsolidated Real Estate Entity were a consolidated subsidiary.  When we obtain control of an Unconsolidated Real Estate Entity, we commence consolidating the entity and record a gain representing the differential between the book value and fair value of our preexisting equity interest.  All changes in consolidation status are reflected prospectively.
	When we are general partner, we control the partnership unless the third-party limited partners can dissolve the partnership or otherwise remove us as general partner without cause, or if the limited partners have the right to participate in substantive decisions of the partnership.
	Collectively, at March 31, 2015, the Company and the Subsidiaries own 2,245 self-storage facilities in the U.S., one self-storage facility in London, England and four commercial facilities in the U.S.  At March 31, 2015, the Unconsolidated Real Estate Entities are comprised of PSB, Shurgard Europe, as well as limited partnerships that own an aggregate of 13 self-storage facilities in the U.S. (these limited partnerships, for the periods in which the reference applies, are referred to as the “Other Investments”).
	Use of Estimates
	The financial statements and accompanying notes reflect our estimates and assumptions.  Actual results could differ from those estimates and assumptions.
	Income Taxes
	We have elected to be treated as a real estate investment trust (“REIT”), as defined in the Internal Revenue Code of 1986, as amended (the “Code”).  As a REIT, we do not incur federal income tax if we distribute 100% of our REIT taxable income (generally, net rents and gains from real property, dividends, and interest) each year, and if we meet certain organizational and operational rules.  We believe we will meet these REIT requirements in 2015, and that we have met them for all other periods presented herein.  Accordingly, we have recorded no federal income tax expense related to our REIT taxable income.
	Our merchandise and tenant reinsurance operations are subject to corporate income tax and such taxes are included in ancillary cost of operations.  We also incur income and other taxes in certain states, which are included in general and administrative expense.
	We recognize tax benefits of uncertain income tax positions that are subject to audit only if we believe it is more likely than not that the position would ultimately be sustained assuming the relevant taxing authorities had full knowledge of the relevant facts and circumstances of our positions.  As of March 31, 2015, we had no tax benefits that were not recognized.
	Real Estate Facilities
	Real estate facilities are recorded at cost.  We capitalize all costs incurred to develop, construct, renovate and improve properties, including interest and property taxes incurred during the construction period.  We expense internal and external transaction costs associated with acquisitions or dispositions of real estate, as well as repairs and maintenance costs, as incurred.  We depreciate buildings and improvements on a straight-line basis over estimated useful lives ranging generally between 5 to 25 years.
	We allocate the net acquisition cost of acquired operating self-storage facilities to the underlying land, buildings, identified intangible assets, and remaining noncontrolling interests based upon their respective individual estimated fair values.  Any difference between the net acquisition cost and the estimated fair value of the net tangible and intangible assets acquired is recorded as goodwill.
	Other Assets
	Other assets primarily consist of rents receivable from our tenants, prepaid expenses and restricted cash.
	Accrued and Other Liabilities
	Accrued and other liabilities consist primarily of rents prepaid by our tenants, trade payables, property tax accruals, accrued payroll, accrued tenant reinsurance losses, and contingent loss accruals when probable and estimable.  We disclose the nature of significant unaccrued losses that are reasonably possible of occurring and, if estimable, a range of exposure.
	Cash Equivalents, Marketable Securities and Other Financial Instruments
	Cash equivalents represent highly liquid financial instruments such as money market funds with daily liquidity or short-term commercial paper or treasury securities maturing within three months of acquisition.  Cash and cash equivalents which are restricted from general corporate use are included in other assets.  Commercial paper not maturing within three months of acquisition, which we intend and have the capacity to hold until maturity, are included in marketable securities and accounted for using the effective interest method.
	Transfers of financial assets are recorded as sales when the asset is put presumptively beyond our and our creditors’ reach, there is no impediment to the transferee’s right to pledge or exchange the asset, we have surrendered effective control of the asset, we have no actual or effective right or requirement to repurchase the asset and, in the case of a transfer of a participating interest, there is no impediment to our right to pledge or exchange the participating interest we retain.
	Fair Value Accounting
	As used herein, the term “fair value” is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants.  We prioritize the inputs used in measuring fair value based upon a three-tier hierarchy described in Codification Section 820-10-35.  Our estimates of fair value involve considerable judgement and are not necessarily indicative of the amounts that could be realized in current market exchanges.
	We believe that, during all periods presented, the carrying values approximate the estimated fair values of our cash and cash equivalents, marketable securities, other assets, and accrued and other liabilities, based upon our evaluation of the underlying characteristics, market data, and short maturity of these financial instruments, which involved considerable judgment.  The characteristics of these financial instruments, market data, and other comparative metrics utilized in determining these fair values are “Level 2” inputs as the term is defined in Codification Section 820-10-35-47.
	We estimate fair values in recording our business combinations, to evaluate real estate, investments in unconsolidated real estate entities, goodwill, and other intangible assets for impairment, and to determine the fair values of notes payable and receivable.  In estimating these fair values, we consider significant unobservable inputs such as market prices of land, market capitalization rates and earnings multiples for real estate facilities, projected levels of earnings, costs of construction, functional depreciation, and market interest rates for debt securities with a similar time to maturity and credit quality, which are “Level 3” inputs as the term is defined in Codification Section 820-10-35-52.
	Currency and Credit Risk
	Financial assets that are exposed to credit risk consist primarily of cash and cash equivalents, rents receivable from our tenants, loans receivable, and restricted cash.  Cash equivalents and marketable securities we invest in are either money market funds with a rating of at least AAA by Standard and Poor’s, commercial paper that is  rated A1 by Standard and Poor’s or deposits with highly rated commercial banks.
	At March 31, 2015, due primarily to our investment in Shurgard Europe, our operating results and financial position are affected by fluctuations in currency exchange rates between the Euro, and to a lesser extent, other European currencies, against the U.S. Dollar.
	Goodwill and Other Intangible Assets
	Intangible assets are comprised of goodwill, the “Shurgard” trade name, acquired customers in place, and leasehold interests in land.
	Goodwill totaled $174.6 million at March 31, 2015 and December 31, 2014.  The “Shurgard” trade name, which is used by Shurgard Europe pursuant to a fee-based licensing agreement, has a book value of $18.8 million at March 31, 2015 and December 31, 2014.  Goodwill and the “Shurgard” trade name have indefinite lives and are not amortized.
	Acquired customers in place and leasehold interests in land are finite-lived and are amortized relative to the benefit of the customers in place or the benefit to land lease expense to each period.  At March 31, 2015, these intangibles had a net book value of $27.9 million ($35.2 million at December 31, 2014).  Accumulated amortization totaled $73.3 million at March 31, 2015 ($69.3 million at December 31, 2014), and amortization expense of $9.2 million and $14.6 million was recorded in the three months ended March 31, 2015 and 2014, respectively.  The estimated future amortization expense for our finite-lived intangible assets at March 31, 2015 is approximately $14.6 million in the remainder of 2015, $5.9 million in 2016 and $7.4 million thereafter.  During the three months ended March 31, 2015, intangibles were increased $1.9 million in connection with the acquisition of self-storage facilities (Note 3).
	Evaluation of Asset Impairment
	We evaluate our real estate and finite-lived intangible assets for impairment each quarter.  If there are indicators of impairment and we determine that the asset is not recoverable from future undiscounted cash flows to be received through the asset’s remaining life (or, if earlier, the expected disposal date), we record an impairment charge to the extent the carrying amount exceeds the asset’s estimated fair value or net proceeds from expected disposal.
	We evaluate our investments in unconsolidated real estate entities for impairment on a quarterly basis.  We record an impairment charge to the extent the carrying amount exceeds estimated fair value, when we believe any such shortfall is other than temporary.
	We evaluate goodwill for impairment annually and whenever relevant events, circumstances and other related factors indicate that fair value of the related reporting unit may be less than the carrying amount.  If we determine that the fair value of the reporting unit exceeds the aggregate carrying amount, no impairment charge is recorded.  Otherwise, we record an impairment charge to the extent the carrying amount of the goodwill exceeds the amount that would be allocated to goodwill if the reporting unit were acquired for estimated fair value.
	We evaluate the “Shurgard” trade name for impairment at least annually and whenever relevant events, circumstances and other related factors indicate that the fair value is less than the carrying amount.  When we conclude that it is likely that the asset is not impaired, we do not record an impairment charge and no further analysis is performed.  Otherwise, we record an impairment charge to the extent the carrying amount exceeds the asset’s estimated fair value.
	No impairments were recorded in any of our evaluations for any period presented herein.
	Revenue and Expense Recognition
	Rental income, which is generally earned pursuant to month-to-month leases for storage space, as well as late charges and administrative fees, are recognized as earned.  Promotional discounts reduce rental income over the promotional period.  Ancillary revenues and interest and other income are recognized when earned.  Equity in earnings of unconsolidated real estate entities represents our pro-rata share of the earnings of the Unconsolidated Real Estate Entities.
	We accrue for property tax expense based upon actual amounts billed and, in some circumstances, estimates and historical trends when bills or assessments have not been received from the taxing authorities or such bills and assessments are in dispute.  If these estimates are incorrect, the timing and amount of expense recognition could be incorrect.  Cost of operations, general and administrative expense, interest expense, as well as television and other advertising expenditures are expensed as incurred.
	Foreign Currency Exchange Translation
	The local currency (primarily the Euro) is the functional currency for our interests in foreign operations.  The related balance sheet amounts are translated into U.S. Dollars at the exchange rates at the respective financial statement date, while amounts on our statements of income are translated at the average exchange rates during the respective period.  The Euro was translated at exchange rates of approximately 1.085 U.S. Dollars per Euro at March 31, 2015 (1.216 at December 31, 2014), and average exchange rates of 1.127 and 1.370 for the three months ended March 31, 2015 and 2014, respectively.  Cumulative translation adjustments, to the extent not included in cumulative net income, are included in equity as a component of accumulated other comprehensive income (loss).
	Comprehensive Income
	Total comprehensive income represents net income, adjusted for changes in other comprehensive income (loss) for the applicable period.  The aggregate foreign currency exchange gains and losses reflected on our statements of comprehensive income are comprised primarily of foreign currency exchange gains and losses on our investment in Shurgard Europe.
	Recent Accounting Pronouncements and Guidance
	In May 2014, the FASB issued an accounting standard update (“ASU”) (ASU No. 2014-09), requiring an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers.  ASU No. 2014-09 will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective and permits the use of either the retrospective or cumulative effect transition method.  The new standard is effective for us on January 1, 2017.  Early adoption is not permitted.  We have not yet selected a transition method.  We do not believe the adoption of ASU No. 2014-09 will have a material impact on our results of operations or financial condition.
	In February 2015, the FASB issued ASU No. 2015-02, “Consolidation (Topic 810).”  The guidance in this ASU includes amendments to Topic 810, “Consolidation.”  The new guidance modifies the consolidation analysis for limited and general partnerships and entities that are involved with variable interest entities, particularly those that have fee arrangements and related party relationships.  Additionally, it provides a scope exception to the consolidation guidance for certain entities.  The amendments in ASU No. 2015-02 are effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period.  Early adoption is permitted.  We have not yet determined whether the adoption of ASU No. 2015-02 will have a material effect on our results of operations or financial condition.
	Net Income per Common Share
	Net income is allocated to (i) noncontrolling interests based upon their share of the net income of the Subsidiaries, (ii) preferred shareholders, to the extent redemption cost exceeds the related original net issuance proceeds (in accordance with the provisions of Codification Section 260-10-S99-2, an “EITF D-42 allocation”), and (iii) the remaining net income allocated to each of our equity securities based upon the dividends declared or accumulated during the period, combined with participation rights in undistributed earnings.
	Basic net income per share is computed using the weighted average common shares outstanding.  Diluted net income per share is computed using the weighted average common shares outstanding, adjusted for the impact, if dilutive, of stock options outstanding (Note 10).
	The following table reflects net income allocable to common shareholders and the weighted average common shares and equivalents outstanding, as used in our calculations of basic and diluted net income per share:
			For the Three Months Ended March 31,
			2015		2014
			(Amounts in thousands)
		Net income allocable to common shareholders	$	212,613	$	174,052
		Weighted average common shares and equivalents outstanding:
		Basic weighted average common shares outstanding		172,520		171,910
		Net effect of dilutive stock options -
		based on treasury stock method		846		899
		Diluted weighted average common shares outstanding		173,366		172,809

Real_Estate_Facilities

Real Estate Facilities	3 Months Ended
	Mar. 31, 2015
Real Estate Facilities [Abstract]
Real Estate Facilities
	3.Real Estate Facilities
	Activity in real estate facilities during the three months ended March 31, 2015 is as follows:
			Three Months Ended
			31-Mar-15
			(Amounts in thousands)
		Operating facilities, at cost:
		Beginning balance	$	12,863,235
		Capital expenditures to maintain real estate facilities		7,899
		Acquisitions		30,445
		Dispositions		-12,038
		Newly developed facilities opened for operation		31,333
		Impact of foreign exchange rate changes		-999
		Ending balance		12,919,875
		Accumulated depreciation:
		Beginning balance		-4,482,520
		Depreciation expense		-96,634
		Dispositions		4,273
		Impact of foreign exchange rate changes		508
		Ending balance		-4,574,373
		Construction in process:
		Beginning balance		104,573
		Current development		62,656
		Newly developed facilities opened for operation		-31,333
		Ending balance		135,896
		Total real estate facilities at March 31, 2015	$	8,481,398
	During the three months ended March 31, 2015, we acquired four self-storage facilities (265,000 net rentable square feet), for a total cost of $32.3 million in cash.  Approximately $1.9 million of the total cost was allocated to intangible assets.  We completed expansion and development activities during the three months ended March 31, 2015, adding 338,000 net rentable square feet of self-storage space, at an aggregate cost of $31.3 million.  Construction in process at March 31, 2015 consists of projects to develop new self-storage facilities and expand existing self-storage facilities, which would add a total of 3.6 million net rentable square feet of storage space, for an aggregate estimated cost of approximately $436 million.  We received approximately $9.2 million in disposition proceeds during the three months ended March 31, 2015, recording a gain on disposition of $1.5 million.

Investments_In_Unconsolidated_

Investments In Unconsolidated Real Estate Entities	3 Months Ended
	Mar. 31, 2015
Investments In Unconsolidated Real Estate Entities [Abstract]
Investments In Unconsolidated Real Estate Entities	4.Investments in Unconsolidated Real Estate Entities
	The following table sets forth our investments in, and equity earnings of, the Unconsolidated Real Estate Entities (amounts in thousands):
			Investments in Unconsolidated Real Estate Entities at
			31-Mar-15			31-Dec-14
		PSB	$	414,778		$	412,115
		Shurgard Europe		370,825			394,842
		Other Investments		6,677			6,783
		Total	$	792,280		$	813,740
			Equity in Earnings of Unconsolidated Real Estate Entities for the
			Three Months Ended March 31,
			2015			2014
		PSB	$	9,895		$	5,337
		Shurgard Europe		5,736			8,884
		Other Investments		553			383
		Total	$	16,184		$	14,604
	During the three months ended March 31, 2015 and 2014, we received cash distributions from our investments in the Unconsolidated Real Estate Entities totaling $8.2 million and $12.9 million, respectively.  At March 31, 2015, the cost of our investment in the Unconsolidated Real Estate Entities exceeds our pro rata share of the underlying equity by approximately $65 million  ($68 million at December 31, 2014).  This differential is being amortized as a reduction in equity in earnings of the Unconsolidated Real Estate Entities based upon allocations to the underlying net assets.  Such amortization was approximately $0.7 million and $0.5 million during the three months ended March 31, 2015 and 2014, respectively.
	Investment in PSB
	PSB is a REIT traded on the New York Stock Exchange.  We have an approximate 42% common equity interest in PSB as of March 31, 2015 and December 31, 2014, comprised of our ownership of 7,158,354 shares of PSB’s common stock and 7,305,355 limited partnership units (“LP Units”) in an operating partnership controlled by PSB.  The LP Units are convertible at our option, subject to certain conditions, on a one-for-one basis into PSB common stock.  Based upon the closing price at March 31, 2015 ($83.04 per share of PSB common stock), the shares and units we owned had a market value of approximately $1.2 billion.
	Included in equity in earnings of unconsolidated real estate entities is our $5.0 million share of gains on sale of facilities recorded by PSB for the three months ended March 31, 2015 (none in the three months ended March 31, 2014).
	The following table sets forth selected financial information of PSB.  The amounts represent all of PSB’s balances and not our pro-rata share.
		March 31,			December 31,
		2015			2014
		(Amounts in thousands)
	Total assets (primarily real estate)	$	2,237,372		$	2,227,114
	Debt		250,000			250,000
	Other liabilities		68,612			68,905
	Equity:
	Preferred stock		995,000			995,000
	Common equity and units		923,760			913,209
		2015			2014
		(Amounts in thousands)
	For the three months ended March 31,
	Total revenue	$	92,462		$	95,487
	Costs of operations		-31,746			-33,444
	Depreciation and amortization		-26,233			-28,441
	General and administrative		-3,399			-2,487
	Other items		-3,216			-3,314
	Gain on sale of facilities		12,487			-
	Net income		40,355			27,801
	Allocations to preferred shareholders and
	restricted share unitholders		-15,220			-15,158
	Net income allocated to common shareholders
	and LP Unitholders	$	25,135		$	12,643
	Investment in Shurgard Europe
	For all periods presented, we had a 49% equity investment in Shurgard Europe and our joint venture partner owns the remaining 51% interest.  In addition, Shurgard Europe pays a license fee to us for the use of the “Shurgard” trademark and paid us interest on a shareholder loan until it was repaid in July 2014 (see Note 5).
	Changes in foreign currency exchange rates caused our investment in Shurgard Europe to decrease by approximately $29.5 million during the three months ended March 31, 2015 and to increase our investment by $0.3 million during the three months ended March 31, 2014.
	The following table sets forth selected consolidated financial information of Shurgard Europe based upon all of Shurgard Europe’s balances for all periods, rather than our pro rata share.  Such amounts are based upon our historical acquired book basis.
		March 31,			December 31,
		2015			2014
			(Amounts in thousands)
	Total assets (primarily self-storage facilities)	$	1,233,012		$	1,404,246
	Total debt to third parties		457,324			500,767
	Other liabilities		93,026			180,546
	Equity		682,662			722,933
	Exchange rate of Euro to U.S. Dollar		1.085			1.216
		2015			2014
		(Amounts in thousands)
	For the three months ended March 31,
	Self-storage and ancillary revenues	$	55,962		$	63,659
	Self-storage and ancillary cost of operations		-22,045			-25,519
	Depreciation and amortization		-14,739			-15,241
	General and administrative		-3,944			-3,834
	Interest expense on third party debt		-3,501			-1,136
	Trademark license fee payable to Public Storage		-560			-637
Interest expense on shareholder loan		-			-9,670
Other		-26			202
Net income	$	11,147		$	7,824
Average exchange rates of Euro to the U.S. Dollar		1.127			1.370
As reflected in the table above, Shurgard Europe’s net income has been reduced by expenses it pays to its shareholders, including a trademark license fee and interest expense on the shareholder loan for periods in which the loan was outstanding.  The following table set forth the calculation of our equity in earnings in Shurgard Europe:
		2015			2014
		(Amounts in thousands)
	For the three months ended March 31,
	Calculation of equity in earnings of Shurgard Europe:
	Our 49% share of Shurgard Europe’s net income	$	5,462		$	3,834
	Adjustments:
	49% of trademark license fees		274			312
	49% of interest on shareholder loan		-			4,738
	Total equity in earnings of Shurgard Europe	$	5,736		$	8,884
As indicated in the table above, 49% of the trademark license fees and interest paid by Shurgard Europe to its shareholders is included in our equity in earnings of Shurgard Europe and any remaining amount paid to us is included in “interest and other income” on our income statements.  See Note 5 for further information.

Loans_Receivable_From_Unconsol

Loans Receivable From Unconsolidated Real Estate Entity	3 Months Ended
	Mar. 31, 2015
Loans Receivable From Unconsolidated Real Estate Entity [Abstract]
Loans Receivable From Unconsolidated Real Estate Entity	5.Loan Receivable from Unconsolidated Real Estate Entity
	At December 31, 2013, we owned 100% of the shareholder loan due from Shurgard Europe, which had a balance of €311.0 million ($428.1 million) and bore interest at 9.0% per annum.  On January 28, 2014, our joint venture partner in Shurgard Europe acquired a 51% interest in the loan at face value for €158.6 million ($216.2 million) in cash.  In July 2014, Shurgard Europe fully repaid its €311.0 million shareholder loan, and accordingly, we received our 49% share of the loan totaling €152.4 million ($204.9 million).
	For the three months ended March 31, 2014, we recorded interest income with respect to this loan of approximately $1.5 million.
	Based upon our continued expectation of repayment of the loan in the foreseeable future, we reflected changes in the U.S. Dollar equivalent of the amount due us, as a result of changes in foreign exchange rates as “foreign currency exchange gain (loss)” on our income statement until repayment of the loan in full in July 2014.

Credit_Facility_Term_Loan_And_

Credit Facility, Term Loan And Notes Payable	3 Months Ended
	Mar. 31, 2015
Credit Facility, Term Loan And Notes Payable [Abstract]
Credit Facility, Term Loan And Notes Payable	6.Credit Facility, Term Loan and Notes Payable
	On March 31, 2015, we entered into an amended revolving credit agreement (the “Credit Facility”), which expires on March 31, 2020.  The aggregate limit with respect to borrowings and letters of credit was increased from $300 million to $500 million.  Amounts drawn on the Credit Facility bear annual interest at rates ranging from LIBOR plus 0.850% to LIBOR plus 1.450% depending upon the ratio of our Total Indebtedness to Gross Asset Value (as defined in the Credit Facility) (LIBOR plus 0.850% at March 31, 2015).  In addition, we are required to pay a quarterly facility fee ranging from 0.080% per annum to 0.250% per annum depending upon the ratio of our Total Indebtedness to our Gross Asset Value (0.080% per annum at March 31, 2015).  At December 31, 2014, March 31, 2015 and May 5, 2015, we had no outstanding borrowings under this Credit Facility.  We had undrawn standby letters of credit, which reduce our borrowing capacity, totaling $14.9 million at March 31, 2015 and $13.9 million at December 31, 2014.  The Credit Facility has various customary restrictive covenants, all of which we were in compliance with at March 31, 2015.
	On December 2, 2013, we borrowed $700 million from Wells Fargo under an unsecured term loan (the “Term Loan”), and we fully repaid the borrowings by September 30, 2014.  We incurred origination costs of $1.9 million, which were amortized using the effective interest method through the date of extinguishment ($1.1 million for the three months ended March 31, 2014).
	The carrying amounts of our notes payable at March 31, 2015 and December 31, 2014, totaled $58.7 million and $64.4 million, respectively, with unamortized premium totaling $0.4 million and $0.6 million, respectively.  These notes were assumed in connection with acquisitions of real estate facilities and recorded at fair value with any premium or discount over the stated note balance amortized using the effective interest method.  At March 31, 2015, the notes are secured by 33 real estate facilities with a net book value of approximately $149 million, have contractual interest rates between 2.9% and 7.1%, and mature between July 2015 and September 2028.
	At March 31, 2015, approximate principal maturities of our notes payable are $12.1 million in the remainder of 2015, $20.6 million in 2016, $9.3 million in 2017, $11.2 million in 2018, $1.2 million in 2019 and $4.3 million thereafter.  The weighted average effective interest rate of our notes payable at March 31, 2015 was 4.0%.
	Cash paid for interest totaled $0.8 million and $3.8 million for the three months ended March 31, 2015  and 2014, respectively.  Interest capitalized as real estate totaled $0.6 million and $0.2 million for the three months ended March 31, 2015  and 2014, respectively.

Noncontrolling_Interests

Noncontrolling Interests	3 Months Ended
	Mar. 31, 2015
Noncontrolling Interests [Abstract]
Noncontrolling Interests	7.Noncontrolling Interests
	At March 31, 2015, the noncontrolling interests represent (i) third-party equity interests in subsidiaries owning 14 self-storage facilities and (ii) 231,978 partnership units held by third-parties in a subsidiary that are convertible on a one-for-one basis (subject to certain limitations) into common shares of the Company at the option of the unitholder (collectively, the “Noncontrolling Interests”).  At March 31, 2015, the Noncontrolling Interests cannot require us to redeem their interests, other than pursuant to a liquidation of the subsidiary.  During the three months ended March 31, 2015 and 2014, we allocated a total of $1.5 million and $1.1 million of income, respectively, to these interests; and we paid $1.8 million in each of the periods in distributions to these interests.

Shareholders_Equity

Shareholders' Equity	3 Months Ended
	Mar. 31, 2015
Shareholders' Equity [Abstract]
Shareholders' Equity	8.Shareholders’ Equity
	Preferred Shares
	At March  31,  2015 and December 31, 2014, we had the following series of Cumulative Preferred Shares (“Preferred Shares”) outstanding:
					At March 31, 2015			At December 31, 2014
		Series	Earliest Redemption Date	Dividend Rate	Shares Outstanding	Liquidation Preference		Shares Outstanding	Liquidation Preference
					(Dollar amounts in thousands)
		Series O	4/15/15	6.875%	-	$	-	5,800	$	145,000
		Series P	10/7/15	6.500%	5,000		125,000	5,000		125,000
		Series Q	4/14/16	6.500%	15,000		375,000	15,000		375,000
		Series R	7/26/16	6.350%	19,500		487,500	19,500		487,500
		Series S	1/12/17	5.900%	18,400		460,000	18,400		460,000
		Series T	3/13/17	5.750%	18,500		462,500	18,500		462,500
		Series U	6/15/17	5.625%	11,500		287,500	11,500		287,500
		Series V	9/20/17	5.375%	19,800		495,000	19,800		495,000
		Series W	1/16/18	5.200%	20,000		500,000	20,000		500,000
		Series X	3/13/18	5.200%	9,000		225,000	9,000		225,000
		Series Y	3/17/19	6.375%	11,400		285,000	11,400		285,000
		Series Z	6/4/19	6.000%	11,500		287,500	11,500		287,500
		Series A	12/2/19	5.875%	7,600		190,000	7,600		190,000
		Total Preferred Shares			167,200	$	4,180,000	173,000	$	4,325,000
	The holders of our Preferred Shares have general preference rights with respect to liquidation, quarterly distributions and any accumulated unpaid distributions.  Except under certain conditions and as noted below, holders of the Preferred Shares will not be entitled to vote on most matters.  In the event of a cumulative arrearage equal to six quarterly dividends, holders of all outstanding series of preferred shares (voting as a single class without regard to series) will have the right to elect two additional members to serve on our board of trustees (the “Board”) until the arrearage has been cured.  At March  31, 2015, there were no dividends in arrears.
	Except under certain conditions relating to the Company’s qualification as a REIT, the Preferred Shares are not redeemable prior to the dates indicated on the table above.  On or after the respective dates, each of the series of Preferred Shares is redeemable at our option, in whole or in part, at $25.00 per depositary share, plus accrued and unpaid dividends.  Holders of the Preferred Shares cannot require us to redeem such shares.
	Upon issuance of our Preferred Shares, we classify the liquidation value as preferred equity on our balance sheet with any issuance costs recorded as a reduction to paid-in capital.
	During the three months ended March 31, 2014, we issued an aggregate 9.4 million depositary shares, each representing 1/1,000 of a share of our Series Y Preferred Shares, at an issuance price of $25.00 per depositary share, for a total of $235.0 million in gross proceeds, and we incurred $7.5 million in issuance costs.
	In March 2015, we called for redemption of, and on April 15, 2015, we redeemed our Series O Preferred Shares, at par.  The liquidation value (at par) of $145.0 million was reclassified as a liability at March 31, 2015.  We recorded a $4.8 million EITF D-42 allocation of income from our common shareholders to the holders of our Preferred Shares in the three months ended March 31, 2015 in connection with this redemption.
	Common share dividends, including amounts paid to our restricted share unitholders, totaled $242.3 million ($1.40 per share) and $241.7 million ($1.40 per share) for the three months ended March 31, 2015 and 2014, respectively.  Preferred share dividends totaled $63.6 million and $52.5 million for the three months ended March 31, 2015 and 2014, respectively.

Related_Party_Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	9.Related Party Transactions
	The Hughes Family owns approximately 15.5% of our common shares outstanding at March  31,  2015.
	The Hughes Family has ownership interests in, and operates, approximately 54 self-storage facilities in Canada (“PS Canada”) using the “Public Storage” brand name pursuant to a non-exclusive, royalty-free trademark license agreement with the Company.  We currently do not own any interests in these facilities.  We have a right of first refusal to acquire the stock or assets of the corporation that manages the 54 self-storage facilities in Canada, if the Hughes Family or the corporation agrees to sell them.  We reinsure risks relating to loss of goods stored by customers in these facilities.  During each of the three month periods ended March 31, 2015 and 2014, we received $0.1 million, in reinsurance premiums attributed to these facilities.  There is no assurance that these premiums will continue, as our rights to reinsure these risks could be withdrawn at any time.

ShareBased_Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2015
Share-Based Compensation [Abstract]
Share-Based Compensation	10.Share-Based Compensation
	Under various share-based compensation plans and under terms established by a committee of our Board, the Company grants non-qualified options to purchase the Company’s common shares, as well as restricted share units (“RSUs”), to trustees, officers, service providers and key employees.
	Stock options and RSUs are considered “granted” and “outstanding” as the terms are used herein, when (i) the Company and the recipient reach a mutual understanding of the key terms of the award, (ii) the award has been authorized, (iii) the recipient is affected by changes in the market price of our stock, and (iv) it is probable that any performance and service conditions will be met.
	We amortize the grant-date fair value of awards (net of anticipated forfeitures) as compensation expense over the service period.  The service period begins on the grant date and ends on the vesting date.  For awards that are earned solely upon the passage of time and continued service, the entire cost of the award is amortized on a straight-line basis over the service period. For awards with performance conditions, the individual cost of each vesting is amortized separately over each individual service period (the “accelerated attribution” method).
	Stock Options
	Stock options vest over a three to five-year period, expire ten years after the grant date, and the exercise price is equal to the closing trading price of our common shares on the grant date.  Employees cannot require the Company to settle their award in cash.  We use the Black-Scholes option valuation model to estimate the fair value of our stock options.
	Outstanding stock option grants are included on a one-for-one basis in our diluted weighted average shares, to the extent dilutive, after applying the treasury stock method (based upon the average common share price during the period) to assumed exercise proceeds and measured but unrecognized compensation.
	For the three months ended March 31, 2015, we recorded $0.8 million in compensation expense related to stock options, as compared to $0.7 million for the same period in 2014.
	During the three months ended March 31, 2015, 250,000 stock options were granted, 55,990 options were exercised and no options were forfeited.  A total of 2,279,554 stock options were outstanding at March 31, 2015 (2,085,544 at December 31, 2014).
	Restricted Share Units
	RSUs generally vest ratably over a three to eight-year period from the grant date.  The grantee receives dividends for each outstanding RSU equal to the per-share dividends received by our common shareholders.  We expense any dividends previously paid upon forfeiture of the related RSU.  Upon vesting, the grantee receives common shares equal to the number of vested RSUs, less common shares withheld in exchange for tax deposits made by the Company to satisfy the grantee’s statutory tax liabilities arising from the vesting.
	The fair value of our RSUs is determined based upon the applicable closing trading price of our common shares.
	During the three months ended March 31, 2015, 119,800 RSUs were granted, 12,045 RSUs were forfeited and 160,134 RSUs vested.  This vesting resulted in the issuance of 93,305 common shares.  In addition, tax deposits totaling $13.3 million were made on behalf of employees in exchange for 66,829 common shares withheld upon vesting.
	RSUs outstanding at March 31, 2015 and December 31, 2014 were 698,669 and 751,048, respectively.  A total of $6.4 million in RSU expense was recorded for the three months ended March 31, 2015, which includes approximately $1.0 million in employer taxes incurred upon vesting, as compared to $5.6 million for the same period in 2014, respectively, which includes approximately $1.0 million in employer taxes incurred upon vesting.
	See also “net income per common share” in Note 2 for further discussion regarding the impact of RSUs and stock options on our net income per common share and income allocated to common shareholders.

Segment_Information

Segment Information	3 Months Ended
	Mar. 31, 2015
Segment Information [Abstract]
Segment Information	11.Segment Information
	Our reportable segments reflect the significant components of our operations that are evaluated separately by our chief operating decision maker (“CODM”) and have discrete financial information available.  We organize our segments based primarily upon the nature of the underlying products and services, and whether the operation is located in the U.S. or outside the U.S.  In making resource allocation decisions, our CODM considers the net income of each reportable segment prior to depreciation and amortization, gains or losses on disposition of real estate facilities, and asset impairment charges, and does not consider the book value of assets.  The net income for each reportable segment included in the tables below are in conformity with GAAP and our significant accounting policies as denoted in Note 2.  The amounts with respect to non-reportable segments are aggregated under “other items not allocated to segments.”  Following is the description of and basis for presentation for each of our segments.
	Domestic Self-Storage Segment
	The Domestic Self-Storage Segment includes the operations of the 2,246 self-storage facilities owned by the Company and the Subsidiaries, as well as our equity share of 13 self-storage facilities owned by the Other Investments.  The Domestic self-storage segment presentation includes the revenues, cost of operations, and depreciation expense of our self-storage facilities, as well as our equity in earnings of the Other Investments.  For all periods presented, substantially all of our real estate facilities, goodwill and other intangible assets, other assets, and accrued and other liabilities are associated with the Domestic Self-Storage Segment.
	European Self-Storage Segment
	The European Self-Storage segment comprises our interest in Shurgard Europe (Note 4), which has a separate management team reporting directly to our CODM and our joint venture partner.  The European Self-Storage segment presentation includes our 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.  At March 31, 2015, the assets of the European Self-Storage Segment are comprised of our investment in Shurgard Europe.  Prior to July 2014, we also had a loan receivable from Shurgard Europe (Note 5).
	Commercial Segment
	The Commercial segment comprises (i) our investment in PSB (Note 4), a publicly-traded REIT with a separate management team that makes its financing, capital allocation and other significant decisions, as well as (ii) certain commercial facilities we own, substantially all of which are managed by PSB.  The Commercial segment presentation includes our equity earnings from PSB, as well as the revenues and expenses of our commercial facilities.  At March 31, 2015, the assets of the Commercial segment are comprised principally of our investment in PSB.
	Presentation of Segment Information
	The following tables reconcile the net income of each segment, in terms of segment income, to our consolidated net income (amounts in thousands):
	Three months ended March 31, 2015
		Domestic Self-Storage		European Self-Storage		Commercial		Other Items Not Allocated to Segments		Total
		(Amounts in thousands)
	Revenues:
	Self-storage facilities	$	530,637	$	-	$	-	$	-	$	530,637
	Ancillary operations		-		-		3,910		34,847		38,757
			530,637		-		3,910		34,847		569,394
	Expenses:
	Self-storage cost of operations		161,242		-		-		-		161,242
	Ancillary cost of operations		-		-		1,112		10,808		11,920
	Depreciation and amortization		106,540		-		606		-		107,146
	General and administrative		-		-		-		24,160		24,160
			267,782		-		1,718		34,968		304,468
	Operating income (loss)		262,855		-		2,192		-121		264,926
	Interest and other income		-		286		-		386		672
	Equity in earnings of
	unconsolidated real estate entities		553		5,736		9,895		-		16,184
	Gain on real estate sales		1,472		-		-		-		1,472
	Net income	$	264,880	$	6,022	$	12,087	$	265	$	283,254
	Three months ended March 31, 2014
		Domestic Self-Storage		European Self-Storage		Commercial		Other Items Not Allocated to Segments		Total
		(Amounts in thousands)
	Revenues:
	Self-storage facilities	$	485,587	$	-	$	-	$	-	$	485,587
	Ancillary operations		-		-		4,005		30,032		34,037
			485,587		-		4,005		30,032		519,624
	Expenses:
	Self-storage cost of operations		156,068		-		-		-		156,068
	Ancillary cost of operations		-		-		1,315		17,136		18,451
	Depreciation and amortization		108,333		-		688		-		109,021
	General and administrative		-		-		-		18,989		18,989
			264,401		-		2,003		36,125		302,529
	Operating income (loss)		221,186		-		2,002		-6,093		217,095
	Interest and other income		-		1,862		-		540		2,402
	Interest expense		-		-		-		-3,480		-3,480
	Equity in earnings of
	unconsolidated real estate entities		383		8,884		5,337		-		14,604
	Foreign currency exchange loss		-		-2,348		-		-		-2,348
	Net income (loss)	$	221,569	$	8,398	$	7,339	$	-9,033	$	228,273

Commitments_And_Contingencies

Commitments And Contingencies	3 Months Ended
	Mar. 31, 2015
Commitments And Contingencies [Abstract]
Commitments And Contingencies	12.Commitments and Contingencies
	Contingent Losses
	We are a party to various legal proceedings and subject to various claims and complaints; however, we believe that the likelihood of these contingencies resulting in a material loss to the Company, either individually or in the aggregate, is remote.
	Insurance and Loss Exposure
	We have historically carried customary property, earthquake, general liability, employee medical insurance and workers compensation coverage through internationally recognized insurance carriers, subject to customary levels of deductibles.  The aggregate limits on these policies of approximately $75 million for property losses and $102 million for general liability losses are higher than estimates of maximum probable losses that could occur from individual catastrophic events determined in recent engineering and actuarial studies; however, in case of multiple catastrophic events, these limits could be exhausted.
	We reinsure a program that provides insurance to our customers from an independent third-party insurer.  This program covers tenant claims for losses to goods stored at our facilities as a result of specific named perils (earthquakes are not covered by this program), up to a maximum limit of $5,000 per storage unit.  We reinsure all risks in this program, but purchase insurance from an independent third party insurance company for aggregate claims between $5.0 million and $15.0 million per occurrence.  We are subject to licensing requirements and regulations in several states.  At March 31, 2015, there were approximately 851,000 certificates held by our self-storage customers, representing aggregate coverage of approximately $2.4 billion.

Subsequent_Events

Subsequent Events	3 Months Ended
	Mar. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	13.Subsequent Events
	Subsequent to March 31, 2015, we acquired or were under contract to acquire seven self-storage facilities (three each in Colorado and Texas and one in California) with 0.6 million net rentable square feet for $80 million, and a land lease buyout for $15 million.

Summary_Of_Significant_Account1

Summary Of Significant Accounting Policies (Policy)	3 Months Ended
	Mar. 31, 2015
Summary Of Significant Accounting Policies [Abstract]
Basis Of Presentation	Basis of Presentation
	The accompanying unaudited interim financial statements were prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) as defined in the Financial Accounting Standards Board Accounting Standards Codification (the “Codification”), including guidance with respect to interim financial information and in conformity with the instructions to Form 10-Q and Article 10 of Regulation S-X.  While they do not include all of the disclosures required by GAAP for complete financial statements, we believe that we have included all adjustments (consisting of normal and recurring adjustments) necessary for a fair presentation.  Operating results for the three months ended March 31, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 due to seasonality and other factors.  These interim financial statements should be read together with the audited financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014.
Consolidation And Equity Method Of Accounting	Consolidation and Equity Method of Accounting
	We consider entities to be Variable Interest Entities (“VIEs”) when they have insufficient equity to finance their activities without additional subordinated financial support provided by other parties, or where the equity holders as a group do not have a controlling financial interest.  We have no investments or other involvement in any VIEs.
	We consolidate all entities that we control (these entities, for the period in which the reference applies, are referred to collectively as the “Subsidiaries”), and we eliminate intercompany transactions and balances.  We account for our investments in entities that we have significant influence over, but do not control, using the equity method of accounting (these entities, for the periods in which the reference applies, are referred to collectively as the “Unconsolidated Real Estate Entities”), eliminating intra-entity profits and losses and amortizing any differences between the cost of our investment and the underlying equity in net assets against equity in earnings as if the Unconsolidated Real Estate Entity were a consolidated subsidiary.  When we obtain control of an Unconsolidated Real Estate Entity, we commence consolidating the entity and record a gain representing the differential between the book value and fair value of our preexisting equity interest.  All changes in consolidation status are reflected prospectively.
	When we are general partner, we control the partnership unless the third-party limited partners can dissolve the partnership or otherwise remove us as general partner without cause, or if the limited partners have the right to participate in substantive decisions of the partnership.
	Collectively, at March 31, 2015, the Company and the Subsidiaries own 2,245 self-storage facilities in the U.S., one self-storage facility in London, England and four commercial facilities in the U.S.  At March 31, 2015, the Unconsolidated Real Estate Entities are comprised of PSB, Shurgard Europe, as well as limited partnerships that own an aggregate of 13 self-storage facilities in the U.S. (these limited partnerships, for the periods in which the reference applies, are referred to as the “Other Investments”).
Use Of Estimates	Use of Estimates
	The financial statements and accompanying notes reflect our estimates and assumptions.  Actual results could differ from those estimates and assumptions.
Income Taxes	Income Taxes
	We have elected to be treated as a real estate investment trust (“REIT”), as defined in the Internal Revenue Code of 1986, as amended (the “Code”).  As a REIT, we do not incur federal income tax if we distribute 100% of our REIT taxable income (generally, net rents and gains from real property, dividends, and interest) each year, and if we meet certain organizational and operational rules.  We believe we will meet these REIT requirements in 2015, and that we have met them for all other periods presented herein.  Accordingly, we have recorded no federal income tax expense related to our REIT taxable income.
	Our merchandise and tenant reinsurance operations are subject to corporate income tax and such taxes are included in ancillary cost of operations.  We also incur income and other taxes in certain states, which are included in general and administrative expense.
	We recognize tax benefits of uncertain income tax positions that are subject to audit only if we believe it is more likely than not that the position would ultimately be sustained assuming the relevant taxing authorities had full knowledge of the relevant facts and circumstances of our positions.  As of March 31, 2015, we had no tax benefits that were not recognized.
Real Estate Facilities	Real Estate Facilities
	Real estate facilities are recorded at cost.  We capitalize all costs incurred to develop, construct, renovate and improve properties, including interest and property taxes incurred during the construction period.  We expense internal and external transaction costs associated with acquisitions or dispositions of real estate, as well as repairs and maintenance costs, as incurred.  We depreciate buildings and improvements on a straight-line basis over estimated useful lives ranging generally between 5 to 25 years.
	We allocate the net acquisition cost of acquired operating self-storage facilities to the underlying land, buildings, identified intangible assets, and remaining noncontrolling interests based upon their respective individual estimated fair values.  Any difference between the net acquisition cost and the estimated fair value of the net tangible and intangible assets acquired is recorded as goodwill.
Other Assets
	Other Assets
	Other assets primarily consist of rents receivable from our tenants, prepaid expenses and restricted cash.
Accrued And Other Liabilities	Accrued and Other Liabilities
	Accrued and other liabilities consist primarily of rents prepaid by our tenants, trade payables, property tax accruals, accrued payroll, accrued tenant reinsurance losses, and contingent loss accruals when probable and estimable.  We disclose the nature of significant unaccrued losses that are reasonably possible of occurring and, if estimable, a range of exposure.
Cash Equivalents And Marketable Securities	Cash Equivalents, Marketable Securities and Other Financial Instruments
	Cash equivalents represent highly liquid financial instruments such as money market funds with daily liquidity or short-term commercial paper or treasury securities maturing within three months of acquisition.  Cash and cash equivalents which are restricted from general corporate use are included in other assets.  Commercial paper not maturing within three months of acquisition, which we intend and have the capacity to hold until maturity, are included in marketable securities and accounted for using the effective interest method.
	Transfers of financial assets are recorded as sales when the asset is put presumptively beyond our and our creditors’ reach, there is no impediment to the transferee’s right to pledge or exchange the asset, we have surrendered effective control of the asset, we have no actual or effective right or requirement to repurchase the asset and, in the case of a transfer of a participating interest, there is no impediment to our right to pledge or exchange the participating interest we retain.
Fair Value Accounting	Fair Value Accounting
	As used herein, the term “fair value” is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants.  We prioritize the inputs used in measuring fair value based upon a three-tier hierarchy described in Codification Section 820-10-35.  Our estimates of fair value involve considerable judgement and are not necessarily indicative of the amounts that could be realized in current market exchanges.
	We believe that, during all periods presented, the carrying values approximate the estimated fair values of our cash and cash equivalents, marketable securities, other assets, and accrued and other liabilities, based upon our evaluation of the underlying characteristics, market data, and short maturity of these financial instruments, which involved considerable judgment.  The characteristics of these financial instruments, market data, and other comparative metrics utilized in determining these fair values are “Level 2” inputs as the term is defined in Codification Section 820-10-35-47.
	We estimate fair values in recording our business combinations, to evaluate real estate, investments in unconsolidated real estate entities, goodwill, and other intangible assets for impairment, and to determine the fair values of notes payable and receivable.  In estimating these fair values, we consider significant unobservable inputs such as market prices of land, market capitalization rates and earnings multiples for real estate facilities, projected levels of earnings, costs of construction, functional depreciation, and market interest rates for debt securities with a similar time to maturity and credit quality, which are “Level 3” inputs as the term is defined in Codification Section 820-10-35-52.
Currency And Credit Risk	Currency and Credit Risk
	Financial assets that are exposed to credit risk consist primarily of cash and cash equivalents, rents receivable from our tenants, loans receivable, and restricted cash.  Cash equivalents and marketable securities we invest in are either money market funds with a rating of at least AAA by Standard and Poor’s, commercial paper that is  rated A1 by Standard and Poor’s or deposits with highly rated commercial banks.
	At March 31, 2015, due primarily to our investment in Shurgard Europe, our operating results and financial position are affected by fluctuations in currency exchange rates between the Euro, and to a lesser extent, other European currencies, against the U.S. Dollar.
Goodwill And Other Intangible Assets	Goodwill and Other Intangible Assets
	Intangible assets are comprised of goodwill, the “Shurgard” trade name, acquired customers in place, and leasehold interests in land.
	Goodwill totaled $174.6 million at March 31, 2015 and December 31, 2014.  The “Shurgard” trade name, which is used by Shurgard Europe pursuant to a fee-based licensing agreement, has a book value of $18.8 million at March 31, 2015 and December 31, 2014.  Goodwill and the “Shurgard” trade name have indefinite lives and are not amortized.
	Acquired customers in place and leasehold interests in land are finite-lived and are amortized relative to the benefit of the customers in place or the benefit to land lease expense to each period.  At March 31, 2015, these intangibles had a net book value of $27.9 million ($35.2 million at December 31, 2014).  Accumulated amortization totaled $73.3 million at March 31, 2015 ($69.3 million at December 31, 2014), and amortization expense of $9.2 million and $14.6 million was recorded in the three months ended March 31, 2015 and 2014, respectively.  The estimated future amortization expense for our finite-lived intangible assets at March 31, 2015 is approximately $14.6 million in the remainder of 2015, $5.9 million in 2016 and $7.4 million thereafter.  During the three months ended March 31, 2015, intangibles were increased $1.9 million in connection with the acquisition of self-storage facilities (Note 3).
Evaluation Of Asset Impairment	Evaluation of Asset Impairment
	We evaluate our real estate and finite-lived intangible assets for impairment each quarter.  If there are indicators of impairment and we determine that the asset is not recoverable from future undiscounted cash flows to be received through the asset’s remaining life (or, if earlier, the expected disposal date), we record an impairment charge to the extent the carrying amount exceeds the asset’s estimated fair value or net proceeds from expected disposal.
	We evaluate our investments in unconsolidated real estate entities for impairment on a quarterly basis.  We record an impairment charge to the extent the carrying amount exceeds estimated fair value, when we believe any such shortfall is other than temporary.
	We evaluate goodwill for impairment annually and whenever relevant events, circumstances and other related factors indicate that fair value of the related reporting unit may be less than the carrying amount.  If we determine that the fair value of the reporting unit exceeds the aggregate carrying amount, no impairment charge is recorded.  Otherwise, we record an impairment charge to the extent the carrying amount of the goodwill exceeds the amount that would be allocated to goodwill if the reporting unit were acquired for estimated fair value.
	We evaluate the “Shurgard” trade name for impairment at least annually and whenever relevant events, circumstances and other related factors indicate that the fair value is less than the carrying amount.  When we conclude that it is likely that the asset is not impaired, we do not record an impairment charge and no further analysis is performed.  Otherwise, we record an impairment charge to the extent the carrying amount exceeds the asset’s estimated fair value.
	No impairments were recorded in any of our evaluations for any period presented herein.
Revenue And Expense Recognition	Revenue and Expense Recognition
	Rental income, which is generally earned pursuant to month-to-month leases for storage space, as well as late charges and administrative fees, are recognized as earned.  Promotional discounts reduce rental income over the promotional period.  Ancillary revenues and interest and other income are recognized when earned.  Equity in earnings of unconsolidated real estate entities represents our pro-rata share of the earnings of the Unconsolidated Real Estate Entities.
	We accrue for property tax expense based upon actual amounts billed and, in some circumstances, estimates and historical trends when bills or assessments have not been received from the taxing authorities or such bills and assessments are in dispute.  If these estimates are incorrect, the timing and amount of expense recognition could be incorrect.  Cost of operations, general and administrative expense, interest expense, as well as television and other advertising expenditures are expensed as incurred.
Foreign Currency Exchange Translation	Foreign Currency Exchange Translation
	The local currency (primarily the Euro) is the functional currency for our interests in foreign operations.  The related balance sheet amounts are translated into U.S. Dollars at the exchange rates at the respective financial statement date, while amounts on our statements of income are translated at the average exchange rates during the respective period.  The Euro was translated at exchange rates of approximately 1.085 U.S. Dollars per Euro at March 31, 2015 (1.216 at December 31, 2014), and average exchange rates of 1.127 and 1.370 for the three months ended March 31, 2015 and 2014, respectively.  Cumulative translation adjustments, to the extent not included in cumulative net income, are included in equity as a component of accumulated other comprehensive income (loss).
Comprehensive Income	Comprehensive Income
	Total comprehensive income represents net income, adjusted for changes in other comprehensive income (loss) for the applicable period.  The aggregate foreign currency exchange gains and losses reflected on our statements of comprehensive income are comprised primarily of foreign currency exchange gains and losses on our investment in Shurgard Europe.
Recent Accounting Pronouncements And Guidance	Recent Accounting Pronouncements and Guidance
	In May 2014, the FASB issued an accounting standard update (“ASU”) (ASU No. 2014-09), requiring an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers.  ASU No. 2014-09 will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective and permits the use of either the retrospective or cumulative effect transition method.  The new standard is effective for us on January 1, 2017.  Early adoption is not permitted.  We have not yet selected a transition method.  We do not believe the adoption of ASU No. 2014-09 will have a material impact on our results of operations or financial condition.
	In February 2015, the FASB issued ASU No. 2015-02, “Consolidation (Topic 810).”  The guidance in this ASU includes amendments to Topic 810, “Consolidation.”  The new guidance modifies the consolidation analysis for limited and general partnerships and entities that are involved with variable interest entities, particularly those that have fee arrangements and related party relationships.  Additionally, it provides a scope exception to the consolidation guidance for certain entities.  The amendments in ASU No. 2015-02 are effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period.  Early adoption is permitted.  We have not yet determined whether the adoption of ASU No. 2015-02 will have a material effect on our results of operations or financial condition.
Net Income Per Common Share	Net Income per Common Share
	Net income is allocated to (i) noncontrolling interests based upon their share of the net income of the Subsidiaries, (ii) preferred shareholders, to the extent redemption cost exceeds the related original net issuance proceeds (in accordance with the provisions of Codification Section 260-10-S99-2, an “EITF D-42 allocation”), and (iii) the remaining net income allocated to each of our equity securities based upon the dividends declared or accumulated during the period, combined with participation rights in undistributed earnings.
	Basic net income per share is computed using the weighted average common shares outstanding.  Diluted net income per share is computed using the weighted average common shares outstanding, adjusted for the impact, if dilutive, of stock options outstanding (Note 10).
	The following table reflects net income allocable to common shareholders and the weighted average common shares and equivalents outstanding, as used in our calculations of basic and diluted net income per share:
			For the Three Months Ended March 31,
			2015		2014
			(Amounts in thousands)
		Net income allocable to common shareholders	$	212,613	$	174,052
		Weighted average common shares and equivalents outstanding:
		Basic weighted average common shares outstanding		172,520		171,910
		Net effect of dilutive stock options -
		based on treasury stock method		846		899
		Diluted weighted average common shares outstanding		173,366		172,809

Summary_Of_Significant_Account2

Summary Of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2015
Summary Of Significant Accounting Policies [Abstract]
Net Income Per Common Share
			For the Three Months Ended March 31,
			2015		2014
			(Amounts in thousands)
		Net income allocable to common shareholders	$	212,613	$	174,052
		Weighted average common shares and equivalents outstanding:
		Basic weighted average common shares outstanding		172,520		171,910
		Net effect of dilutive stock options -
		based on treasury stock method		846		899
		Diluted weighted average common shares outstanding		173,366		172,809

Real_Estate_Facilities_Tables

Real Estate Facilities (Tables)	3 Months Ended
	Mar. 31, 2015
Real Estate Facilities [Abstract]
Schedule Of Real Estate Activities
			Three Months Ended
			31-Mar-15
			(Amounts in thousands)
		Operating facilities, at cost:
		Beginning balance	$	12,863,235
		Capital expenditures to maintain real estate facilities		7,899
		Acquisitions		30,445
		Dispositions		-12,038
		Newly developed facilities opened for operation		31,333
		Impact of foreign exchange rate changes		-999
		Ending balance		12,919,875
		Accumulated depreciation:
		Beginning balance		-4,482,520
		Depreciation expense		-96,634
		Dispositions		4,273
		Impact of foreign exchange rate changes		508
		Ending balance		-4,574,373
		Construction in process:
		Beginning balance		104,573
		Current development		62,656
		Newly developed facilities opened for operation		-31,333
		Ending balance		135,896
		Total real estate facilities at March 31, 2015	$	8,481,398

Investments_In_Unconsolidated_1

Investments In Unconsolidated Real Estate Entities (Tables)	3 Months Ended
	Mar. 31, 2015
Schedule of Equity Method Investments [Line Items]
Schedule Of Investments In Real Estate Entities And Equity In Earnings Of Real Estate
			Investments in Unconsolidated Real Estate Entities at
			31-Mar-15			31-Dec-14
		PSB	$	414,778		$	412,115
		Shurgard Europe		370,825			394,842
		Other Investments		6,677			6,783
		Total	$	792,280		$	813,740
			Equity in Earnings of Unconsolidated Real Estate Entities for the
			Three Months Ended March 31,
			2015			2014
		PSB	$	9,895		$	5,337
		Shurgard Europe		5,736			8,884
		Other Investments		553			383
		Total	$	16,184		$	14,604
Schedule Of Equity In Earnings
			2015			2014
			(Amounts in thousands)
		For the three months ended March 31,
		Calculation of equity in earnings of Shurgard Europe:
		Our 49% share of Shurgard Europe’s net income	$	5,462		$	3,834
		Adjustments:
		49% of trademark license fees		274			312
		49% of interest on shareholder loan		-			4,738
		Total equity in earnings of Shurgard Europe	$	5,736		$	8,884
PSB [Member]
Schedule of Equity Method Investments [Line Items]
Schedule Of Selected Financial Information
		March 31,			December 31,
		2015			2014
		(Amounts in thousands)
	Total assets (primarily real estate)	$	2,237,372		$	2,227,114
	Debt		250,000			250,000
	Other liabilities		68,612			68,905
	Equity:
	Preferred stock		995,000			995,000
	Common equity and units		923,760			913,209
		2015			2014
		(Amounts in thousands)
	For the three months ended March 31,
	Total revenue	$	92,462		$	95,487
	Costs of operations		-31,746			-33,444
	Depreciation and amortization		-26,233			-28,441
	General and administrative		-3,399			-2,487
	Other items		-3,216			-3,314
	Gain on sale of facilities		12,487			-
	Net income		40,355			27,801
	Allocations to preferred shareholders and
	restricted share unitholders		-15,220			-15,158
	Net income allocated to common shareholders
	and LP Unitholders	$	25,135		$	12,643
Shurgard Europe [Member]
Schedule of Equity Method Investments [Line Items]
Schedule Of Selected Financial Information
		March 31,			December 31,
		2015			2014
			(Amounts in thousands)
	Total assets (primarily self-storage facilities)	$	1,233,012		$	1,404,246
	Total debt to third parties		457,324			500,767
	Other liabilities		93,026			180,546
	Equity		682,662			722,933
	Exchange rate of Euro to U.S. Dollar		1.085			1.216
		2015			2014
		(Amounts in thousands)
	For the three months ended March 31,
	Self-storage and ancillary revenues	$	55,962		$	63,659
	Self-storage and ancillary cost of operations		-22,045			-25,519
	Depreciation and amortization		-14,739			-15,241
	General and administrative		-3,944			-3,834
	Interest expense on third party debt		-3,501			-1,136
	Trademark license fee payable to Public Storage		-560			-637
	Interest expense on shareholder loan		-			-9,670
	Other		-26			202
	Net income	$	11,147		$	7,824
	Average exchange rates of Euro to the U.S. Dollar		1.127			1.370

Shareholders_Equity_Tables

Shareholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2015
Shareholders' Equity [Abstract]
Preferred Shares Outstanding
					At March 31, 2015			At December 31, 2014
		Series	Earliest Redemption Date	Dividend Rate	Shares Outstanding	Liquidation Preference		Shares Outstanding	Liquidation Preference
					(Dollar amounts in thousands)
		Series O	4/15/15	6.875%	-	$	-	5,800	$	145,000
		Series P	10/7/15	6.500%	5,000		125,000	5,000		125,000
		Series Q	4/14/16	6.500%	15,000		375,000	15,000		375,000
		Series R	7/26/16	6.350%	19,500		487,500	19,500		487,500
		Series S	1/12/17	5.900%	18,400		460,000	18,400		460,000
		Series T	3/13/17	5.750%	18,500		462,500	18,500		462,500
		Series U	6/15/17	5.625%	11,500		287,500	11,500		287,500
		Series V	9/20/17	5.375%	19,800		495,000	19,800		495,000
		Series W	1/16/18	5.200%	20,000		500,000	20,000		500,000
		Series X	3/13/18	5.200%	9,000		225,000	9,000		225,000
		Series Y	3/17/19	6.375%	11,400		285,000	11,400		285,000
		Series Z	6/4/19	6.000%	11,500		287,500	11,500		287,500
		Series A	12/2/19	5.875%	7,600		190,000	7,600		190,000
		Total Preferred Shares			167,200	$	4,180,000	173,000	$	4,325,000

Segment_Information_Tables

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2015
Segment Information [Abstract]
Summary Of Segment Information
	Three months ended March 31, 2015
		Domestic Self-Storage		European Self-Storage		Commercial		Other Items Not Allocated to Segments		Total
		(Amounts in thousands)
	Revenues:
	Self-storage facilities	$	530,637	$	-	$	-	$	-	$	530,637
	Ancillary operations		-		-		3,910		34,847		38,757
			530,637		-		3,910		34,847		569,394
	Expenses:
	Self-storage cost of operations		161,242		-		-		-		161,242
	Ancillary cost of operations		-		-		1,112		10,808		11,920
	Depreciation and amortization		106,540		-		606		-		107,146
	General and administrative		-		-		-		24,160		24,160
			267,782		-		1,718		34,968		304,468
	Operating income (loss)		262,855		-		2,192		-121		264,926
	Interest and other income		-		286		-		386		672
	Equity in earnings of
	unconsolidated real estate entities		553		5,736		9,895		-		16,184
	Gain on real estate sales		1,472		-		-		-		1,472
	Net income	$	264,880	$	6,022	$	12,087	$	265	$	283,254
	Three months ended March 31, 2014
		Domestic Self-Storage		European Self-Storage		Commercial		Other Items Not Allocated to Segments		Total
		(Amounts in thousands)
	Revenues:
	Self-storage facilities	$	485,587	$	-	$	-	$	-	$	485,587
	Ancillary operations		-		-		4,005		30,032		34,037
			485,587		-		4,005		30,032		519,624
	Expenses:
	Self-storage cost of operations		156,068		-		-		-		156,068
	Ancillary cost of operations		-		-		1,315		17,136		18,451
	Depreciation and amortization		108,333		-		688		-		109,021
	General and administrative		-		-		-		18,989		18,989
			264,401		-		2,003		36,125		302,529
	Operating income (loss)		221,186		-		2,002		-6,093		217,095
	Interest and other income		-		1,862		-		540		2,402
	Interest expense		-		-		-		-3,480		-3,480
	Equity in earnings of
	unconsolidated real estate entities		383		8,884		5,337		-		14,604
	Foreign currency exchange loss		-		-2,348		-		-		-2,348
	Net income (loss)	$	221,569	$	8,398	$	7,339	$	-9,033	$	228,273

Description_Of_The_Business_De

Description Of The Business (Details)	3 Months Ended
	Mar. 31, 2015
	sqft
	item
	state
Nature Of Business [Line Items]
Ownership interest, percentage	49.00%
Public Storage [Member]
Nature Of Business [Line Items]
PSA self-storage facilities	2,258
Net rentable square feet	146,000,000
Number of states with facilities	38
PSB [Member]
Nature Of Business [Line Items]
Net rentable square feet	30,000,000
Number of states with facilities	10
Ownership interest, percentage	42.00%
Western Europe [Member]
Nature Of Business [Line Items]
Direct interest in self-storage facilities, number of countries	7
Shurgard Europe [Member]
Nature Of Business [Line Items]
Net rentable square feet	10,000,000
Ownership interest, percentage	49.00%
Number of facilities owned by Shurgard Europe	192
London [Member]
Nature Of Business [Line Items]
Number of facilities owned by Shurgard Europe	1

Summary_Of_Significant_Account3

Summary Of Significant Accounting Policies (Consolidation And Equity Method Of Accounting) (Narrative) (Details) (USD $)	Mar. 31, 2015
Summary Of Significant Accounting Policies [Line Items]
Investments in VIEs	$0
London [Member]
Summary Of Significant Accounting Policies [Line Items]
Owned self-storage facilities	1
U.S. [Member]
Summary Of Significant Accounting Policies [Line Items]
Owned self-storage facilities	2,245
Commercial facilities in U.S.	4
Other Investments [Member] | U.S. [Member]
Summary Of Significant Accounting Policies [Line Items]
Owned self-storage facilities	13

Summary_Of_Significant_Account4

Summary Of Significant Accounting Policies (Income Taxes And Real Estate Facilities) (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Percentage of real estate investment trust taxable income distributed for exemption of federal income tax	100.00%
Income tax expense	$0
Unrecognized tax benefits	$0
Maximum [Member]
Estimated useful lives of buildings and improvements	25 years
Minimum [Member]
Estimated useful lives of buildings and improvements	5 years

Summary_Of_Significant_Account5

Summary Of Significant Accounting Policies (Goodwill And Intangible Assets) (Narrative) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Summary Of Significant Accounting Policies [Abstract]
Goodwill balance	$174.60		$174.60
Shurgard trade name, book value	18.8		18.8
Tenant intangibles net book value	27.9		35.2
Accumulated amortization, tenant intangibles	73.3		69.3
Amortization expense, tenant intangibles	9.2	14.6
Estimated future amortization expense, remainder of 2015	14.6
Estimated future amortization expense, 2016	5.9
Estimated future amortization expense, thereafter	7.4
Increase in tenant intangibles	$1.90

Summary_Of_Significant_Account6

Summary Of Significant Accounting Policies (Evaluation Of Asset Impairment, Foreign Currency Exchange Translation, And Discontinued Operations) (Narrative) (Details)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Foreign Currency Average Exchange Rate [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Average exchange rates USD to Euro	1.127	1.37
Foreign Currency Actual [Member]
Trading Activity, Gains and Losses, Net [Line Items]
Exchange rate	1.085		1.216

Summary_Of_Significant_Account7

Summary Of Significant Accounting Policies (Net Income Per Common Share) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Summary Of Significant Accounting Policies [Abstract]
Net income allocated to common shareholders	$212,613	$174,052
Basic weighted average common shares outstanding	172,520	171,910
Net effect of dilutive stock options - based on treasury stock method	846	899
Diluted weighted average common shares outstanding	173,366	172,809

Real_Estate_Facilities_Narrati

Real Estate Facilities (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Schedule Of Real Estate Facilities [Line Items]
Cash to acquire self-storage facilities	$32,291,000
Proceeds from disposal of real estate	9,237,000
Gains on disposition of real estate facilities	1,472,000
Acquisition Of Self-Storage Facilities [Member]
Schedule Of Real Estate Facilities [Line Items]
Number of operating self-storage facilities	4
Net rentable square feet	265,000
Aggregate cost, intangibles	1,900,000
Expansion Projects [Member]
Schedule Of Real Estate Facilities [Line Items]
Square footage of additional space	338,000
Cost of newly developed or expanded facilities opened for operations	31,300,000
Addtional net rentable square feet from expansion projects	3,600,000
Aggregate costs to develop new self-storage facilities and expand existing self-storage facilities	$436,000,000

Real_Estate_Facilities_Schedul

Real Estate Facilities (Schedule Of Real Estate Activities) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Real Estate Facilities [Abstract]
Beginning balance (Operating facilities, at cost)	$12,863,235
Capital expenditures to maintain real estate facilities	7,899
Acquisitions	30,445
Dispositions	-12,038
Newly developed facilities opened for operation	31,333
Impact of foreign exchange rate changes	-999
Ending balance (Operating facilities, at cost)	12,919,875
Beginning balance, (Accumulated depreciation)	-4,482,520
Depreciation expense	-96,634
Dispositions	4,273
Impact of foreign exchange rate changes	508
Ending balance, (Accumulated depreciation)	-4,574,373
Beginning Balance (Construction in process	104,573
Current development	62,656
Newly developed facilities opened for operation	-31,333
Ending Balance (Construction in process	135,896
Total real estate facilities at March 31, 2015	$8,481,398	$8,485,288

Investments_In_Unconsolidated_2

Investments In Unconsolidated Real Estate Entities (Investments) (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Cash distributions from Unconsolidated Real Estate Entities	$8,200,000	$12,900,000
Amount of investment exceeding pro rata share of underlying equity	65,000,000		68,000,000
Equity earnings, amortization amount	700,000	500,000
Ownership interest, percentage	49.00%
Gain on real estate sales	1,472,000
PSB [Member]
Schedule of Equity Method Investments [Line Items]
Ownership interest, percentage	42.00%		42.00%
Common stock owned of PSB	7,158,354
Limited partnership units in PSB	7,305,355
Closing price per share PSB stock	$83.04
Market value of PSB stock and LP units	1,200,000,000
Gain on real estate sales	$5,000,000	$0

Investments_In_Unconsolidated_3

Investments In Unconsolidated Real Estate Entities (Investment In Shurgard Europe) (Narrative) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Schedule of Equity Method Investments [Line Items]
Interest in Shurgard Europe	49.00%
Shurgard Europe [Member]
Schedule of Equity Method Investments [Line Items]
Interest in Shurgard Europe	49.00%
Increase (decrease) in Shurgard Europe investment from foreign currency exchange rates	($29.50)	$0.30
Shurgard Europe [Member] | Joint Venture Partner [Member]
Schedule of Equity Method Investments [Line Items]
Interest in Shurgard Europe	51.00%

Investments_In_Unconsolidated_4

Investments In Unconsolidated Real Estate Entities (Schedule Of Investments In Real Estate Entities And Equity In Earnings Of Real Estate) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Investments in Unconsolidated Real Estate Entities	$792,280		$813,740
Equity in Earnings of Unconsolidated Real Estate Entities	16,184	14,604
PSB [Member]
Schedule of Equity Method Investments [Line Items]
Investments in Unconsolidated Real Estate Entities	414,778		412,115
Equity in Earnings of Unconsolidated Real Estate Entities	9,895	5,337
Shurgard Europe [Member]
Schedule of Equity Method Investments [Line Items]
Investments in Unconsolidated Real Estate Entities	370,825		394,842
Equity in Earnings of Unconsolidated Real Estate Entities	5,736	8,884
Other Investments [Member]
Schedule of Equity Method Investments [Line Items]
Investments in Unconsolidated Real Estate Entities	6,677		6,783
Equity in Earnings of Unconsolidated Real Estate Entities	$553	$383

Investments_In_Unconsolidated_5

Investments In Unconsolidated Real Estate Entities (Schedule Of Selected Financial Information Of PSB) (Details) (PSB [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
PSB [Member]
Schedule of Equity Method Investments [Line Items]
Total assets (primarily real estate)	$2,237,372		$2,227,114
Debt	250,000		250,000
Other liabilities	68,612		68,905
Preferred stock	995,000		995,000
Common equity and units	923,760		913,209
Total revenue	92,462	95,487
Costs of operations	-31,746	-33,444
Depreciation and amortization	-26,233	-28,441
General and administrative	-3,399	-2,487
Other items	-3,216	-3,314
Gain on sale of facilities	12,487
Net income	40,355	27,801
Allocations to preferred shareholders and restricted share unitholders	-15,220	-15,158
Net income allocated to common shareholders and LP Unitholders	$25,135	$12,643

Investments_In_Unconsolidated_6

Investments In Unconsolidated Real Estate Entities (Schedule Of Selected Financial Information Of Shurgard Europe) (Details) (Shurgard Europe [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Shurgard Europe [Member]
Schedule of Equity Method Investments [Line Items]
Total assets (primarily self-storage facilities)	$1,233,012		$1,404,246
Total debt to third parties	457,324		500,767
Other liabilities	93,026		180,546
Equity	682,662		722,933
Exchange rate of Euro to U.S. Dollar	1.085		1.216
Self-storage and ancillary revenues	55,962	63,659
Self-storage and ancillary cost of operations	-22,045	-25,519
Depreciation and amortization	-14,739	-15,241
General and administrative	-3,944	-3,834
Interest expense on third party debt	-3,501	-1,136
Trademark license fee payable to Public Storage	-560	-637
Interest expense on debt due to Public Storage		-9,670
Other	-26	202
Net income	$11,147	$7,824
Average exchange rates Euro to the U.S. Dollar	1.127	1.37

Investments_In_Unconsolidated_7

Investments In Unconsolidated Real Estate Entities (Schedule Of Equity In Earnings) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Schedule of Equity Method Investments [Line Items]
Equity share percentage in Shurgard Europe	49.00%
Shurgard Europe [Member]
Schedule of Equity Method Investments [Line Items]
Our 49% equity share of Shurgard Europe’s net income	$5,462	$3,834
Trademark license fee	274	312
Interest on shareholder loan		4,738
Total equity in earnings of Shurgard Europe	$5,736	$8,884
Equity share percentage in Shurgard Europe	49.00%

Loans_Receivable_From_Unconsol1

Loans Receivable From Unconsolidated Real Estate Entity (Narrative) (Details) (Shurgard Europe [Member])	0 Months Ended		1 Months Ended		3 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Jan. 28, 2014	Jan. 28, 2014	Jul. 31, 2014	Jul. 31, 2014	Mar. 31, 2014	Dec. 31, 2013	Dec. 31, 2013	Mar. 31, 2014
	USD ($)	Existing Loan [Member]	Existing Loan [Member]	Existing Loan [Member]	Existing Loan [Member]	Existing Loan [Member]	Existing Loan [Member]	Existing Loan [Member]
		EUR (€)	USD ($)	EUR (€)	USD ($)	USD ($)	EUR (€)	EUR (€)
Loans Receivable From Real Estate Entities [Line Items]
Ownership interest in Shareholder Loan					100.00%	100.00%	100.00%
Loans receivable from affiliates					$428.10	$428.10	€ 311	€ 311
Percentage of Shareholder Loan acquired by our Shurgard Europe JV Partner		51.00%
Amount received from sale of loan	216.2	158.6
Proceeds from repayments of loan receivable			204.9	152.4
Interest and other income					$1.50
Interest rate for real estate loans					9.00%	9.00%	9.00%

Credit_Facility_Term_Loan_And_1

Credit Facility, Term Loan And Notes Payable (Narrative) (Details) (USD $)	3 Months Ended		0 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 02, 2013	Dec. 31, 2014	5-May-15
	item
Short-term Debt [Line Items]
Notes payable	$58,657,000			$64,364,000
Unamortized premium	400,000			600,000
Secured by real estate facilities	33
Net book value of real estate facilities securing notes payable	149,000,000
Principal maturities, remainder of 2015	12,100,000
Principal maturities, 2016	20,600,000
Principal maturities, 2017	9,300,000
Principal maturities, 2018	11,200,000
Principal maturities, 2019	1,200,000
Principal maturities, thereafter	4,300,000
Weighted average effective rate	4.00%
Cash paid for interest expense	800,000	3,800,000
Interest capitalized as real estate	600,000	200,000
Term Loan [Member]
Short-term Debt [Line Items]
Term loan issuance amount			700,000,000
Loan origination costs		1,100,000	1,900,000
Predecessor Facility [Member]
Short-term Debt [Line Items]
Credit Facility borrowing capacity	300,000,000
Credit Facility [Member]
Short-term Debt [Line Items]
Credit Facility borrowing capacity	500,000,000
Facility fee percentage at end of quarter	0.08%
Outstanding borrowings on Credit Facility	0			0	0
Undrawn standby letters of credit	$14,900,000			$13,900,000
Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Short-term Debt [Line Items]
Interest at period end spread (LIBOR)	0.85%
Maximum [Member]
Short-term Debt [Line Items]
Stated note rate	7.10%
Maximum [Member] | Credit Facility [Member]
Short-term Debt [Line Items]
Quarterly facility fee	0.25%
Maximum [Member] | Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Short-term Debt [Line Items]
Interest rate spread (LIBOR)	1.45%
Minimum [Member]
Short-term Debt [Line Items]
Stated note rate	2.90%
Minimum [Member] | Credit Facility [Member]
Short-term Debt [Line Items]
Quarterly facility fee	0.08%
Minimum [Member] | Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Short-term Debt [Line Items]
Interest rate spread (LIBOR)	0.85%

Noncontrolling_Interests_Redee

Noncontrolling Interests (Redeemable And Permanent Noncontrolling Interests Narrative) (Details) (Noncontrolling Interests [Member], USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
	item
Noncontrolling Interests [Member]
Noncontrolling Interest [Line Items]
Permanent Noncontrolling Interests in Subsidiaries, number of self-storage facilities	14
Convertible partnership units	231,978
Income allocated to other Permanent Noncontrolling Interest in Subsidiaries	$1.50	$1.10
Distributions paid	$1.80	$1.80

Shareholders_Equity_Narrative_

Shareholders' Equity (Narrative) (Details) (USD $)	3 Months Ended		1 Months Ended
Share data in Millions, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015
	item
Class of Stock [Line Items]
Number of quarterly dividends in arrearage before preferred shareholders can elect additional board members	6
Number of additional board members the preferred shareholders can elect in the case of an excess arrearage of quarterly dividends	2
Preferred stock, amount of preferred dividends in arrears	$0
Redeemable preferred stock redemption price per share	$25		$25
Proceeds from issuance of preferred stock		227,497,000
Series Y Preferred Stock [Member]
Class of Stock [Line Items]
Number of stock issued in sale		9.4
Preferred shares per depositary share		0.10%
Issuance price per depository share		$25
Proceeds from issuance of preferred stock		235,000,000
Original issuance costs on preferred shares redeemed during the period		7,500,000
Series O Preferred Stock [Member]
Class of Stock [Line Items]
Redemption of cumulative preferred shares	145,000,000		145,000,000
EITF D-42 allocations			$4,800,000

Shareholders_Equity_Dividends_

Shareholders’ Equity (Dividends) (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Shareholders' Equity [Abstract]
Common stock dividends paid in aggregate	$242,300,000	$241,700,000
Cash dividends declared per common share	$1.40	$1.40
Preferred shareholders based on distributions paid	$63,555,000	$52,507,000

Shareholders_Equity_Preferred_

Shareholders’ Equity (Preferred Shares Outstanding) (Details) (USD $)	3 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Class of Stock [Line Items]
Shares Outstanding	167,200	173,000
Liquidation Preference	$4,180,000	$4,325,000
Series O Preferred Stock [Member]
Class of Stock [Line Items]
Earliest Redemption Date	15-Apr-15
Dividend Rate %	6.88%
Shares Outstanding		5,800
Liquidation Preference		145,000
Series P Preferred Stock [Member]
Class of Stock [Line Items]
Earliest Redemption Date	7-Oct-15
Dividend Rate %	6.50%
Shares Outstanding	5,000	5,000
Liquidation Preference	125,000	125,000
Series Q Preferred Stock [Member]
Class of Stock [Line Items]
Earliest Redemption Date	14-Apr-16
Dividend Rate %	6.50%
Shares Outstanding	15,000	15,000
Liquidation Preference	375,000	375,000
Series R Preferred Stock [Member]
Class of Stock [Line Items]
Earliest Redemption Date	26-Jul-16
Dividend Rate %	6.35%
Shares Outstanding	19,500	19,500
Liquidation Preference	487,500	487,500
Series S Preferred Stock [Member]
Class of Stock [Line Items]
Earliest Redemption Date	12-Jan-17
Dividend Rate %	5.90%
Shares Outstanding	18,400	18,400
Liquidation Preference	460,000	460,000
Series T Preferred Stock [Member]
Class of Stock [Line Items]
Earliest Redemption Date	13-Mar-17
Dividend Rate %	5.75%
Shares Outstanding	18,500	18,500
Liquidation Preference	462,500	462,500
Series U Preferred Stock [Member]
Class of Stock [Line Items]
Earliest Redemption Date	15-Jun-17
Dividend Rate %	5.63%
Shares Outstanding	11,500	11,500
Liquidation Preference	287,500	287,500
Series V Preferred Stock [Member]
Class of Stock [Line Items]
Earliest Redemption Date	20-Sep-17
Dividend Rate %	5.38%
Shares Outstanding	19,800	19,800
Liquidation Preference	495,000	495,000
Series W Preferred Stock [Member]
Class of Stock [Line Items]
Earliest Redemption Date	16-Jan-18
Dividend Rate %	5.20%
Shares Outstanding	20,000	20,000
Liquidation Preference	500,000	500,000
Series X Preferred Stock [Member]
Class of Stock [Line Items]
Earliest Redemption Date	13-Mar-18
Dividend Rate %	5.20%
Shares Outstanding	9,000	9,000
Liquidation Preference	225,000	225,000
Series Y Preferred Stock [Member]
Class of Stock [Line Items]
Earliest Redemption Date	17-Mar-19
Dividend Rate %	6.38%
Shares Outstanding	11,400	11,400
Liquidation Preference	285,000	285,000
Series Z Preferred Stock [Member]
Class of Stock [Line Items]
Earliest Redemption Date	4-Jun-19
Dividend Rate %	6.00%
Shares Outstanding	11,500	11,500
Liquidation Preference	287,500	287,500
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Earliest Redemption Date	2-Dec-19
Dividend Rate %	5.88%
Shares Outstanding	7,600	7,600
Liquidation Preference	$190,000	$190,000

Related_Party_Transactions_Det

Related Party Transactions (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
	item
Related Party Transaction [Line Items]
Hughes Family percentage ownership of common shares outstanding	15.50%
PS Canada [Member]
Related Party Transaction [Line Items]
Number of self-storage facilities Hughes Family owns and operates in Canada	54
Tenants reinsurance premiums earned by Public Storage from the Canadian facilities Hughes Family has an interest in	$0.10	$0.10

ShareBased_Compensation_Stock_

Share-Based Compensation (Stock Options) (Narrative) (Details) (Stock Options [Member], USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period, number of years	10 years
Compensation expense	$0.80	$0.70
Stock options granted	250,000
Stock options exercised	55,990
Stock options forfeited	0
Stock options outstanding	2,279,554		2,085,544
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, number of years	5 years
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, number of years	3 years

ShareBased_Compensation_Restri

Share-Based Compensation (Restricted Share Units) (Narrative) (Details) (Restricted Share Units [Member], USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted share units granted	119,800
Restricted share units forfeited	12,045
Restricted share units vested	160,134
Common shares issued upon vesting	93,305
Tax deposits made in exchange for RSUs	$13.30
Common shares withheld upon vesting in exchange for tax deposits	66,829
Restricted share units outstanding	698,669		751,048
Restricted share unit expense	6.4	5.6
Taxes incurred upon vesting of restricted share units	$1	$1
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, number of years	8 years
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, number of years	3 years

Segment_Information_Narrative_

Segment Information (Narrative) (Details) (Domestic Self-Storage [Member])	Mar. 31, 2015
	item
Schedule of Equity Method Investments [Line Items]
Number of self-storage facilities	2,246
Other Investments [Member]
Schedule of Equity Method Investments [Line Items]
Number of self-storage facilities	13

Segment_Information_Summary_Of

Segment Information (Summary Of Segment Information) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information [Line Items]
Self-storage facilities	$530,637	$485,587
Ancillary operations	38,757	34,037
Total revenues	569,394	519,624
Self-storage cost of operations	161,242	156,068
Ancillary cost of operations	11,920	18,451
Depreciation and amortization	107,146	109,021
General and administrative	24,160	18,989
Operating expenses	304,468	302,529
Operating income (loss)	264,926	217,095
Interest and other income	672	2,402
Interest expense		-3,480
Equity in earnings of unconsolidated real estate entities	16,184	14,604
Foreign currency exchange gain		-2,348
Gain on real estate sales	1,472
Net income (loss)	283,254	228,273
Domestic Self-Storage [Member]
Segment Reporting Information [Line Items]
Self-storage facilities	530,637	485,587
Total revenues	530,637	485,587
Self-storage cost of operations	161,242	156,068
Depreciation and amortization	106,540	108,333
Operating expenses	267,782	264,401
Operating income (loss)	262,855	221,186
Equity in earnings of unconsolidated real estate entities	553	383
Gain on real estate sales	1,472
Net income (loss)	264,880	221,569
Europe Self-Storage [Member]
Segment Reporting Information [Line Items]
Interest and other income	286	1,862
Equity in earnings of unconsolidated real estate entities	5,736	8,884
Foreign currency exchange gain		-2,348
Net income (loss)	6,022	8,398
Commercial [Member]
Segment Reporting Information [Line Items]
Ancillary operations	3,910	4,005
Total revenues	3,910	4,005
Ancillary cost of operations	1,112	1,315
Depreciation and amortization	606	688
Operating expenses	1,718	2,003
Operating income (loss)	2,192	2,002
Equity in earnings of unconsolidated real estate entities	9,895	5,337
Net income (loss)	12,087	7,339
Other Items Not Allocated To Segments [Member]
Segment Reporting Information [Line Items]
Ancillary operations	34,847	30,032
Total revenues	34,847	30,032
Ancillary cost of operations	10,808	17,136
General and administrative	24,160	18,989
Operating expenses	34,968	36,125
Operating income (loss)	-121	-6,093
Interest and other income	386	540
Interest expense		-3,480
Net income (loss)	$265	($9,033)

Commitments_And_Contingencies_

Commitments And Contingencies (Details) (USD $)	Mar. 31, 2015
	item
Commitments And Contingencies [Abstract]
Aggregate limit for property coverage	$75,000,000
Aggregate limit for general liability coverage	102,000,000
Tenant insurance program against claims, maximum amount	5,000
Third-party insurance coverage for claims paid exceeding amount for individual event	5,000,000
Third-party limit for insurance coverage claims paid for individual event	15,000,000
Tenant certificate holders participating in insurance program, approximate	851,000
Aggregate coverage of tenants participating in insurance program	$2,400,000,000

Subsequent_Events_Details

Subsequent Events (Details) (Subsequent Event [Member], USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015
	sqft
	item
Subsequent Event [Line Items]
Number of self-storage facilities to be acquired	7
Net rentable square feet	600,000
Acquisition price of properties	$80
Land lease buyout amount	$15
Colorado [Member]
Subsequent Event [Line Items]
Number of self-storage facilities to be acquired	3
Texas [Member]
Subsequent Event [Line Items]
Number of self-storage facilities to be acquired	3
California [Member]
Subsequent Event [Line Items]
Number of self-storage facilities to be acquired	1