Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.10.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Investment in storage facilities:    
Land $ 794,729 $ 786,628
Building, equipment, and construction in progress 3,604,210 3,534,782
Real estate investment property, at cost, total 4,398,939 4,321,410
Less: accumulated depreciation (704,681) (624,314)
Investment in storage facilities, net 3,694,258 3,697,096
Cash and cash equivalents 13,560 9,167
Accounts receivable 7,805 7,331
Receivable from unconsolidated joint ventures 1,006 1,397
Investment in unconsolidated joint ventures 145,911 133,458
Prepaid expenses 7,251 6,757
Fair value of interest rate swap agreements   205
Trade name 16,500 16,500
Other assets 5,921 4,863
Total Assets 3,892,212 3,876,774
Liabilities    
Line of credit 91,000 105,000
Term notes, net 1,610,820 1,609,089
Accounts payable and accrued liabilities 87,446 92,941
Deferred revenue 9,191 9,374
Mortgages payable 12,302 12,674
Total Liabilities 1,810,759 1,829,078
Noncontrolling redeemable Operating Partnership Units at redemption value 23,716 19,373
Shareholders' Equity/ Partners' Capital    
Common stock $.01 par value, 100,000,000 shares authorized, 46,617,441 shares outstanding at December 31, 2018 (46,552,222 at December 31, 2017) 466 466
Additional paid-in capital 2,372,157 2,363,171
Dividends in excess of net income (308,011) (327,727)
Accumulated other comprehensive loss (6,875) (7,587)
Total Shareholders’ Equity 2,057,737 2,028,323
Noncontrolling interest in consolidated subsidiary 0 0
Total Equity 2,057,737 2,028,323
Total Liabilities and Shareholders' Equity/ Partners' Capital 3,892,212 3,876,774
Life Storage LP [Member]    
Investment in storage facilities:    
Land 794,729 786,628
Building, equipment, and construction in progress 3,604,210 3,534,782
Real estate investment property, at cost, total 4,398,939 4,321,410
Less: accumulated depreciation (704,681) (624,314)
Investment in storage facilities, net 3,694,258 3,697,096
Cash and cash equivalents 13,560 9,167
Accounts receivable 7,805 7,331
Receivable from unconsolidated joint ventures 1,006 1,397
Investment in unconsolidated joint ventures 145,911 133,458
Prepaid expenses 7,251 6,757
Fair value of interest rate swap agreements   205
Trade name 16,500 16,500
Other assets 5,921 4,863
Total Assets 3,892,212 3,876,774
Liabilities    
Line of credit 91,000 105,000
Term notes, net 1,610,820 1,609,089
Accounts payable and accrued liabilities 87,446 92,941
Deferred revenue 9,191 9,374
Mortgages payable 12,302 12,674
Total Liabilities 1,810,759 1,829,078
Limited partners’ redeemable capital interest at redemption value (248,966 and 217,481 units outstanding at December 31, 2018 and December 31, 2017, respectively) 23,716 19,373
Shareholders' Equity/ Partners' Capital    
General partner (468,663 and 467,697 units outstanding at December 31, 2018 and December 31, 2017, respectively) 20,816 20,478
Limited partners (46,148,778 and 46,084,525 units outstanding at December 31, 2018 and December 31, 2017, respectively) 2,043,796 2,015,432
Accumulated other comprehensive loss (6,875) (7,587)
Total Controlling Partners’ Capital 2,057,737 2,028,323
Noncontrolling interest in consolidated subsidiary 0 0
Total Partners' Capital 2,057,737 2,028,323
Total Liabilities and Shareholders' Equity/ Partners' Capital $ 3,892,212 $ 3,876,774