Annual report pursuant to Section 13 and 15(d)

Supplementary Quarterly Financial Data (Unaudited)

v3.8.0.1
Supplementary Quarterly Financial Data (Unaudited)
12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Supplementary Quarterly Financial Data (Unaudited)

13. SUPPLEMENTARY QUARTERLY FINANCIAL DATA (UNAUDITED)

The following is a summary of quarterly results of Life Storage, Inc. operations for the years ended December 31, 2017 and 2016 (dollars in thousands, except per share data):

 

 

 

2017 Quarter Ended

 

 

 

Mar. 31

 

 

Jun. 30

 

 

Sept. 30

 

 

Dec. 31

 

Operating revenue

 

$

128,320

 

 

$

132,784

 

 

$

135,568

 

 

$

133,078

 

Net income

 

 

20,525

 

 

 

19,432

 

 

 

35,667

 

 

 

21,185

 

Net income attributable to common shareholders

 

 

20,429

 

 

 

19,355

 

 

 

35,496

 

 

 

21,085

 

Net income per share attributable to common shareholders

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.44

 

 

$

0.42

 

 

$

0.76

 

 

$

0.45

 

Diluted

 

$

0.44

 

 

$

0.42

 

 

$

0.76

 

 

$

0.45

 

 

 

 

2016 Quarter Ended

 

 

 

Mar. 31

 

 

Jun. 30

 

 

Sept. 30

 

 

Dec. 31

 

Operating revenue

 

$

99,124

 

 

$

107,005

 

 

$

127,801

 

 

$

128,678

 

Net income (loss)

 

 

28,230

 

 

 

43,504

 

 

 

(4,969

)

 

 

18,191

 

Net income (loss) attributable to common shareholders

 

 

28,339

 

 

 

43,456

 

 

 

(4,738

)

 

 

18,168

 

Net income (loss) per share attributable to common shareholders

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.74

 

 

$

1.04

 

 

$

(0.10

)

 

$

0.39

 

Diluted

 

$

0.73

 

 

$

1.03

 

 

$

(0.10

)

 

$

0.39

 

 

The following is a summary of quarterly results of Life Storage LP operations for the years ended December 31, 2017 and 2016 (dollars in thousands, except per unit data):

 

 

 

2017 Quarter Ended

 

 

 

Mar. 31

 

 

Jun. 30

 

 

Sept. 30

 

 

Dec. 31

 

Operating revenue

 

$

128,320

 

 

$

132,784

 

 

$

135,568

 

 

$

133,078

 

Net income

 

 

20,525

 

 

 

19,432

 

 

 

35,667

 

 

 

21,185

 

Net income attributable to common unitholders

 

 

20,429

 

 

 

19,355

 

 

 

35,496

 

 

 

21,085

 

Net income per unit attributable to common unitholders

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.44

 

 

$

0.42

 

 

$

0.76

 

 

$

0.45

 

Diluted

 

$

0.44

 

 

$

0.42

 

 

$

0.76

 

 

$

0.45

 

 

 

 

2016 Quarter Ended

 

 

 

Mar. 31

 

 

Jun. 30

 

 

Sept. 30

 

 

Dec. 31

 

Operating revenue

 

$

99,124

 

 

$

107,005

 

 

$

127,801

 

 

$

128,678

 

Net income

 

 

28,230

 

 

 

43,504

 

 

 

(4,969

)

 

 

18,191

 

Net income attributable to common unitholders

 

 

28,339

 

 

 

43,456

 

 

 

(4,738

)

 

 

18,168

 

Net income per unit attributable to common unitholders

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.74

 

 

$

1.04

 

 

$

(0.10

)

 

$

0.39

 

Diluted

 

$

0.73

 

 

$

1.03

 

 

$

(0.10

)

 

$

0.39

 

 

See note 4 for a discussion of property acquisitions made during 2016 and the depreciation resulting from the change in estimated useful lives of Uncle Bob’s Self Storage ® signage and buildings identified for replacement at certain of the Company’s self-storage facilities. See note 5 for financing transactions entered into in 2017 and 2016.