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Extra Space Storage EXR Amortization of Debt Discount (Premium)

Other financials

Income statement

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Revenue$856.0M+4.4%
Gross profit$617.7M+3.6%
Operating income$367.6M-5.4%
Net income$241.0M-11.0%
EPS (diluted)$1.14-10.9%

Balance sheet

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Cash & equivalents$143.4M+16.5%
Total debt$769.7M+9.2%
Total equity$13.3B-4.0%
Total assets$29.1B+0.4%

Cash flow

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Operating cash flow$489.9M+1.8%
CapEx$7.2M-9.2%
Free cash flow$482.6M+1.9%

Valuation

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Market cap$30.7B-0.7%
Enterprise value$31.32B-0.6%
P/E32.5×+0.9×
P/S9×-0.4×

Profitability

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Gross margin72.7%-1.4pp
Operating margin40.8%-1.2pp
Net margin27.7%-0.2pp
FCF margin54.4%-3.2pp

Returns & leverage

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Return on equity6.9%+0.5pp
Debt / equity0.1×0.0×

Questions, answered.

What does amortization of debt discount (premium) mean?
This represents the non-cash accounting adjustment to interest expense resulting from the amortization of discounts or premiums on debt instruments issued at prices other than par. It reconciles the difference between the stated interest rate and the effective interest rate over the life of the debt. This is a non-cash item that impacts reported net income but not immediate cash flow.