CL King Best Ideas Conference
Amounts in Millions
Moving and Storage Operations
1Q11
$419.9
1Q10
Moving and Storage Results
FY10
FY09
FY08
$373.3
Self-moving equipment rentals
$1,421.3
$1,423.3
$1,451.3
28.2
27.0
Self-storage revenues
110.4
110.5
110.8
63.3
57.8
Retail product sales
198.8
199.4
207.8
4.5
4.5
Property management fees
21.6
23.2
24.5
19.3
17.1
Other revenue
64.2
66.6
63.8
535.2
479.7
Total revenues
1,816.3
1,823.0
1,858.2
244.4
250.8
Operating expenses
986.9
1,022.7
1,039.9
52.2
44.4
Commission expenses
169.1
171.3
173.8
31.7
30.5
Cost of sales
104.0
114.4
115.0
39.0
39.6
Lease expense
158.2
153.6
135.6
44.5
59.2
Depreciation, net of (gains)/losses
227.6
265.2
220.7
411.8
424.5
Total costs and expenses
1,645.8
1,727.2
1,685.0
123.4
55.2 Earnings from operations
170.5
95.8
173.2
Cash Flows from Operating Activities:
$63.5
$19.8
Earnings (loss) - Moving and Storage
$50.9
($2.8)
$47.8
53.0
57.9
Add depreciation
229.6
248.6
226.5
(8.4)
1.3
Eliminate (gain)loss on sale of prpty
(2.0)
16.6
(5.8)
58.8
24.7
Other changes, net
87.7
10.1
55.9
$166.9
$103.7
Net cash provided by operations
$366.2
$272.5
$324.4
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