Credit Facility and Commercial Paper Program	9 Months Ended
Sep. 30, 2026
Line of Credit Facility [Abstract]
Credit Facility and Commercial Paper Program	Credit Facility and Commercial Paper Program On June 25, 2026, PSOC entered into an amended and restated credit agreement providing for a $3.0 billion unsecured revolving credit facility maturing June 25, 2030 (the “Revolver”) and a $500 million unsecured term loan maturing August 31, 2031 (the “Term Loan” and, together with the Revolver, the “Credit Facilities”). At September 30, 2026, the Term Loan was fully drawn, bore interest at SOFR plus 0.70% and was included in Notes Payable. There were no outstanding borrowings under the Revolver, under which borrowings would have borne interest at SOFR plus 0.650% at September 30, 2026. A facility fee of 0.10% per annum was payable on the aggregate Revolver commitments at September 30, 2026. Undrawn standby letters of credit totaling $40.2 million, reduced the available borrowing capacity under the Revolver. The Credit Facility contains various customary affirmative, negative and financial maintenance covenants with which we were in compliance at September 30, 2026. Public Storage has fully and unconditionally guaranteed PSOC’s obligations under the Credit Facilities. The Company has established a commercial paper note program and may issue up to $1.0 billion of unsecured commercial paper notes that bear interest at variable rates and have varying maturities (generally 30 days or less, with a maximum of 364 days). The commercial paper notes are issued under customary terms in the commercial paper market and are issued at a discount from par or, alternatively, can be issued at par and bear varying interest rates on a fixed or floating basis. The net proceeds from the issuances of the notes are used for general working capital and other general corporate purposes. General corporate purposes may include, but are not limited to, the repayment of other debt and selective development, redevelopment, lending or acquisition of properties. The commercial paper notes issued under the commercial paper program will rank pari passu with all of Public Storage’s other senior unsecured debt and will be fully and unconditionally guaranteed by Public Storage. At September 30, 2026, there was $200 million of commercial paper notes outstanding.

On June 25, 2026, PSOC entered into an amended and restated credit agreement providing for a $3.0 billion unsecured revolving credit facility maturing June 25, 2030 (the “Revolver”) and a $500 million unsecured term loan maturing August 31, 2031 (the “Term Loan” and, together with the Revolver, the “Credit Facilities”). At September 30, 2026, the Term Loan was fully drawn, bore interest at SOFR plus 0.70% and was included in Notes Payable. There were no outstanding borrowings under the Revolver, under which borrowings would have borne interest at SOFR plus 0.650% at September 30, 2026. A facility fee of 0.10% per annum was payable on the aggregate Revolver commitments at September 30, 2026. Undrawn standby letters of credit totaling $40.2 million, reduced the available borrowing capacity under the Revolver. The Credit Facility contains various customary affirmative, negative and financial maintenance covenants with which we were in compliance at September 30, 2026. Public Storage has fully and unconditionally guaranteed PSOC’s obligations under the Credit Facilities.

The Company has established a commercial paper note program and may issue up to $1.0 billion of unsecured commercial paper notes that bear interest at variable rates and have varying maturities (generally 30 days or less, with a maximum of 364 days). The commercial paper notes are issued under customary terms in the commercial paper market and are issued at a discount from par or, alternatively, can be issued at par and bear varying interest rates on a fixed or floating basis. The net proceeds from the issuances of the notes are used for general working capital and other general corporate purposes. General corporate purposes may include, but are not limited to, the repayment of other debt and selective development, redevelopment, lending or acquisition of properties. The commercial paper notes issued under the commercial paper program will rank pari passu with all of Public Storage’s other senior unsecured