Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.6
Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2011
Dec. 31, 2010
Investment in storage facilities:    
Land $ 272,784 $ 240,651
Building, equipment, and construction in progress 1,323,319 1,179,305
Real estate investment property, at cost, total 1,596,103 1,419,956
Less: accumulated depreciation (305,585) (271,797)
Investment in storage facilities, net 1,290,518 1,148,159
Cash and cash equivalents 7,321 5,766
Accounts receivable 3,008 2,377
Receivable from unconsolidated joint ventures 589 253
Investment in unconsolidated joint ventures 31,939 19,730
Prepaid expenses 3,987 4,408
Other assets 7,373 4,848
Total Assets 1,344,735 1,185,541
Liabilities    
Line of credit 46,000 10,000
Term notes 575,000 400,000
Accounts payable and accrued liabilities 32,254 23,991
Deferred revenue 6,305 4,925
Fair value of interest rate swap agreements 10,748 10,528
Mortgages payable 4,423 78,954
Total Liabilities 674,730 528,398
Noncontrolling redeemable Operating Partnership Units at redemption value 14,466 12,480
Shareholders' Equity    
Common stock $.01 par value, 100,000,000 shares authorized, 28,952,356 shares outstanding (27,650,829 at December 31, 2010) 301 288
Additional paid-in capital 862,467 816,986
Dividends in excess of net income (169,799) (148,264)
Accumulated other comprehensive loss (10,255) (10,254)
Treasury stock at cost, 1,171,886 shares (27,175) (27,175)
Total Shareholders' Equity 655,539 631,581
Noncontrolling interest- consolidated joint venture   13,082
Total Equity 655,539 644,663
Total Liabilities and Shareholders' Equity $ 1,344,735 $ 1,185,541