Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.8.0.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenues      
Rental income $ 485,303,000 $ 428,121,000 $ 338,435,000
Other operating income 44,447,000 34,487,000 28,167,000
Total operating revenues 529,750,000 462,608,000 366,602,000
Expenses      
Property operations and maintenance 122,794,000 103,388,000 81,915,000
Real estate taxes 57,663,000 47,876,000 36,563,000
General and administrative 50,031,000 43,103,000 38,659,000
Acquisition costs 0 29,542,000 2,991,000
Write-off of acquired property deposits 0 1,783,000 0
Operating leases of storage facilities 424,000   683,000
Depreciation and amortization 127,485,000 117,081,000 58,506,000
Total operating expenses 358,397,000 342,773,000 219,317,000
Income from operations 171,353,000 119,835,000 147,285,000
Other income (expenses)      
Interest expense (74,362,000) (47,175,000) (37,124,000)
Interest expense – bridge financing commitment fee   (7,329,000)  
Interest income 7,000 67,000 5,000
(Loss) gain on sale of storage facilities (3,503,000) 15,270,000 (494,000)
Gain on sale of real estate   623,000  
Equity in income of joint ventures 3,314,000 3,665,000 3,405,000
Net income 96,809,000 84,956,000 113,077,000
Net income attributable to noncontrolling interest in the Operating Partnership (444,000) (398,000) (553,000)
Net loss attributable to noncontrolling interest in consolidated subsidiary   667,000  
Net income attributable to common shareholders/unitholders $ 96,365,000 $ 85,225,000 $ 112,524,000
Earnings per common share/unit attributable to common shareholders/unitholders - basic $ 2.08 $ 1.97 $ 3.18
Earnings per common share/unit attributable to common shareholders/unitholders - diluted $ 2.07 $ 1.96 $ 3.16
Life Storage LP [Member]      
Revenues      
Rental income $ 485,303,000 $ 428,121,000 $ 338,435,000
Other operating income 44,447,000 34,487,000 28,167,000
Total operating revenues 529,750,000 462,608,000 366,602,000
Expenses      
Property operations and maintenance 122,794,000 103,388,000 81,915,000
Real estate taxes 57,663,000 47,876,000 36,563,000
General and administrative 50,031,000 43,103,000 38,659,000
Acquisition costs   29,542,000 2,991,000
Write-off of acquired property deposits   1,783,000  
Operating leases of storage facilities 424,000   683,000
Depreciation and amortization 127,485,000 117,081,000 58,506,000
Total operating expenses 358,397,000 342,773,000 219,317,000
Income from operations 171,353,000 119,835,000 147,285,000
Other income (expenses)      
Interest expense (74,362,000) (47,175,000) (37,124,000)
Interest expense – bridge financing commitment fee   (7,329,000)  
Interest income 7,000 67,000 5,000
(Loss) gain on sale of storage facilities (3,503,000) 15,270,000 (494,000)
Gain on sale of real estate   623,000  
Equity in income of joint ventures 3,314,000 3,665,000 3,405,000
Net income 96,809,000 84,956,000 113,077,000
Net income attributable to noncontrolling interest in the Operating Partnership (444,000) (398,000) (553,000)
Net loss attributable to noncontrolling interest in consolidated subsidiary   667,000  
Net income attributable to common shareholders/unitholders $ 96,365,000 $ 85,225,000 $ 112,524,000
Earnings per common share/unit attributable to common shareholders/unitholders - basic $ 2.08 $ 1.97 $ 3.18
Earnings per common share/unit attributable to common shareholders/unitholders - diluted $ 2.07 $ 1.96 $ 3.16
Net income attributable to general partner $ 968,000 $ 856,000 $ 1,131,000
Net income attributable to limited partners $ 95,397,000 $ 84,369,000 $ 111,393,000