Balance Sheets (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
ASSETS
Cash and cash equivalents	$ 187,712	$ 19,169
Real estate facilities, at cost:
Land	3,476,883	3,321,236
Buildings	9,386,352	8,965,020
Real estate facilities, gross	12,863,235	12,286,256
Accumulated depreciation	(4,482,520)	(4,098,814)
Real estate facilities, net	8,380,715	8,187,442
Construction in process	104,573	52,336
Total real estate facilities	8,485,288	8,239,778
Investments in unconsolidated real estate entities	813,740	856,182
Goodwill and other intangible assets, net	228,632	246,854
Loan receivable from Shurgard Europe		428,139
Other assets	103,304	86,144
Total assets	9,818,676	9,876,266
LIABILITIES AND EQUITY
Borrowings on bank credit facility		50,100
Term loan		700,000
Notes payable	64,364	88,953
Accrued and other liabilities	247,141	218,358
Total liabilities	311,505	1,057,411
Commitments and contingencies (Note 13)
Public Storage shareholders' equity:
Preferred Shares, $0.01 par value, 100,000,000 shares authorized, 173,000 shares issued (in series) and outstanding, (142,500 at December 2013), at liquidation preference	4,325,000	3,562,500
Common Shares, $0.10 par value, 650,000,000 shares authorized, 172,445,554 shares issued and outstanding (171,776,291 shares at December 31, 2013)	17,245	17,178
Paid-in capital	5,561,530	5,531,034
Accumulated deficit	(374,823)	(318,482)
Accumulated other comprehensive loss	(48,156)	(500)
Total Public Storage shareholders’ equity	9,480,796	8,791,730
Noncontrolling interests	26,375	27,125
Total equity	9,507,171	8,818,855
Total liabilities and equity	$ 9,818,676	$ 9,876,266