Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.8.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
Investment in storage facilities:    
Land $ 786,628 $ 786,764
Building, equipment, and construction in progress 3,534,782 3,456,544
Real estate investment property, at cost, total 4,321,410 4,243,308
Less: accumulated depreciation (624,314) (535,704)
Investment in storage facilities, net 3,697,096 3,707,604
Cash and cash equivalents 9,167 23,685
Accounts receivable 7,331 5,469
Receivable from unconsolidated joint ventures 1,397 1,223
Investment in unconsolidated joint ventures 133,458 67,300
Prepaid expenses 6,757 6,649
Fair value of interest rate swap agreements 205  
Trade name 16,500 16,500
Other assets 4,863 29,554
Total Assets 3,876,774 3,857,984
Liabilities    
Line of credit 105,000 253,000
Term notes, net 1,609,089 1,387,525
Accounts payable and accrued liabilities 92,941 75,132
Deferred revenue 9,374 9,700
Fair value of interest rate swap agreements   13,015
Mortgages payable 12,674 13,027
Total Liabilities 1,829,078 1,751,399
Noncontrolling redeemable Operating Partnership Units at redemption value 19,373 18,091
Shareholders' Equity/ Partners' Capital    
Common stock $.01 par value, 100,000,000 shares authorized, 46,552,222 shares outstanding at December 31, 2017 (46,454,606 at December 31, 2016) 466 464
Additional paid-in capital 2,363,171 2,348,567
Dividends in excess of net income (327,727) (239,062)
Accumulated other comprehensive loss (7,587) (21,475)
Total Shareholders’ Equity 2,028,323 2,088,494
Noncontrolling interest in consolidated subsidiary 0 0
Total Equity 2,028,323 2,088,494
Total Liabilities and Shareholders' Equity/ Partners' Capital 3,876,774 3,857,984
Life Storage LP [Member]    
Investment in storage facilities:    
Land 786,628 786,764
Building, equipment, and construction in progress 3,534,782 3,456,544
Real estate investment property, at cost, total 4,321,410 4,243,308
Less: accumulated depreciation (624,314) (535,704)
Investment in storage facilities, net 3,697,096 3,707,604
Cash and cash equivalents 9,167 23,685
Accounts receivable 7,331 5,469
Receivable from unconsolidated joint ventures 1,397 1,223
Investment in unconsolidated joint ventures 133,458 67,300
Prepaid expenses 6,757 6,649
Fair value of interest rate swap agreements 205  
Trade name 16,500 16,500
Other assets 4,863 29,554
Total Assets 3,876,774 3,857,984
Liabilities    
Line of credit 105,000 253,000
Term notes, net 1,609,089 1,387,525
Accounts payable and accrued liabilities 92,941 75,132
Deferred revenue 9,374 9,700
Fair value of interest rate swap agreements   13,015
Mortgages payable 12,674 13,027
Total Liabilities 1,829,078 1,751,399
Limited partners’ redeemable capital interest at redemption value (217,481 units outstanding at December 31, 2017 and December 31, 2016) 19,373 18,091
Shareholders' Equity/ Partners' Capital    
General partner (467,697 and 466,721 units outstanding at December 31, 2017 and December 31, 2016, respectively) 20,478 21,065
Limited partners (46,084,525 and 45,987,885 units outstanding at December 31, 2017 and December 31, 2016, respectively) 2,015,432 2,088,904
Accumulated other comprehensive loss (7,587) (21,475)
Total Controlling Partners’ Capital 2,028,323 2,088,494
Noncontrolling interest in consolidated subsidiary 0 0
Total Partners' Capital 2,028,323 2,088,494
Total Liabilities and Shareholders' Equity/ Partners' Capital $ 3,876,774 $ 3,857,984