Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.10.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2018
Dec. 31, 2017
Investment in storage facilities:    
Land $ 788,728 $ 786,628
Building, equipment, and construction in progress 3,584,859 3,534,782
Real estate investment property, at cost, total 4,373,587 4,321,410
Less: accumulated depreciation (697,970) (624,314)
Investment in storage facilities, net 3,675,617 3,697,096
Cash and cash equivalents 13,282 9,167
Accounts receivable 7,992 7,331
Receivable from unconsolidated joint ventures 742 1,397
Investment in unconsolidated joint ventures 135,328 133,458
Prepaid expenses 10,544 6,757
Fair value of interest rate swap agreements   205
Trade name 16,500 16,500
Other assets 9,329 4,863
Total Assets 3,869,334 3,876,774
Liabilities    
Line of credit 128,000 105,000
Term notes, net 1,610,548 1,609,089
Accounts payable and accrued liabilities 79,194 92,941
Deferred revenue 9,128 9,374
Mortgages payable 12,397 12,674
Total Liabilities 1,839,267 1,829,078
Noncontrolling redeemable Operating Partnership Units at redemption value 20,506 19,373
Shareholders' Equity/ Partners' Capital    
Common stock $.01 par value, 100,000,000 shares authorized, 46,600,427 shares outstanding at September 30, 2018 (46,552,222 at December 31, 2017) 466 466
Additional paid-in capital 2,370,329 2,363,171
Dividends in excess of net income (354,130) (327,727)
Accumulated other comprehensive loss (7,104) (7,587)
Total Shareholders’ Equity 2,009,561 2,028,323
Noncontrolling interest in consolidated subsidiary 0 0
Total Equity 2,009,561 2,028,323
Total Liabilities and Shareholders' Equity/ Partners' Capital 3,869,334 3,876,774
Life Storage LP [Member]    
Investment in storage facilities:    
Land 788,728 786,628
Building, equipment, and construction in progress 3,584,859 3,534,782
Real estate investment property, at cost, total 4,373,587 4,321,410
Less: accumulated depreciation (697,970) (624,314)
Investment in storage facilities, net 3,675,617 3,697,096
Cash and cash equivalents 13,282 9,167
Accounts receivable 7,992 7,331
Receivable from unconsolidated joint ventures 742 1,397
Investment in unconsolidated joint ventures 135,328 133,458
Prepaid expenses 10,544 6,757
Fair value of interest rate swap agreements   205
Trade name 16,500 16,500
Other assets 9,329 4,863
Total Assets 3,869,334 3,876,774
Liabilities    
Line of credit 128,000 105,000
Term notes, net 1,610,548 1,609,089
Accounts payable and accrued liabilities 79,194 92,941
Deferred revenue 9,128 9,374
Mortgages payable 12,397 12,674
Total Liabilities 1,839,267 1,829,078
Limited partners' redeemable capital interest at redemption value (215,009 and 217,481 units outstanding at September 30, 2018 and December 31, 2017, respectively) 20,506 19,373
Shareholders' Equity/ Partners' Capital    
General partner (468,154 and 467,697 units outstanding at September 30, 2018 and December 31, 2017, respectively) 20,303 20,478
Limited partners (46,132,273 and 46,084,525 units outstanding at September 30, 2018 and December 31, 2017, respectively) 1,996,362 2,015,432
Accumulated other comprehensive loss (7,104) (7,587)
Total Controlling Partners' Capital 2,009,561 2,028,323
Noncontrolling interest in consolidated subsidiary 0 0
Total Partners' Capital 2,009,561 2,028,323
Total Liabilities and Shareholders' Equity/ Partners' Capital $ 3,869,334 $ 3,876,774