Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.10.0.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues      
Rental income $ 502,474,000 $ 485,303,000 $ 428,121,000
Other operating income 48,376,000 44,447,000 34,487,000
Total operating revenues 550,850,000 529,750,000 462,608,000
Expenses      
Property operations and maintenance 121,098,000 122,794,000 103,388,000
Real estate taxes 61,356,000 57,663,000 47,876,000
General and administrative 48,322,000 50,031,000 43,103,000
Acquisition costs 0 0 29,542,000
Write-off of acquired property deposits 0 0 1,783,000
Payments for rent 565,000 424,000  
Depreciation and amortization 102,530,000 127,485,000 117,081,000
Total operating expenses 333,871,000 358,397,000 342,773,000
Gain (loss) on sale of storage facilities 56,398,000 (3,503,000) 15,270,000
Gain on sale of real estate 718,000   623,000
Income from operations 274,095,000 167,850,000 135,728,000
Other income (expenses)      
Interest expense (70,672,000) (74,362,000) (47,175,000)
Interest expense – bridge financing commitment fee     (7,329,000)
Interest income 13,000 7,000 67,000
Equity in income of joint ventures 4,122,000 3,314,000 3,665,000
Net income 207,558,000 96,809,000 84,956,000
Net income attributable to noncontrolling interest in the Operating Partnership (968,000) (444,000) (398,000)
Net loss attributable to noncontrolling interest in consolidated subsidiary     667,000
Net income attributable to common shareholders/unitholders $ 206,590,000 $ 96,365,000 $ 85,225,000
Earnings per common share/unit attributable to common shareholders/unitholders - basic $ 4.44 $ 2.08 $ 1.97
Earnings per common share/unit attributable to common shareholders/unitholders - diluted $ 4.43 $ 2.07 $ 1.96
Life Storage LP [Member]      
Revenues      
Rental income $ 502,474,000 $ 485,303,000 $ 428,121,000
Other operating income 48,376,000 44,447,000 34,487,000
Total operating revenues 550,850,000 529,750,000 462,608,000
Expenses      
Property operations and maintenance 121,098,000 122,794,000 103,388,000
Real estate taxes 61,356,000 57,663,000 47,876,000
General and administrative 48,322,000 50,031,000 43,103,000
Acquisition costs     29,542,000
Write-off of acquired property deposits     1,783,000
Payments for rent 565,000 424,000  
Depreciation and amortization 102,530,000 127,485,000 117,081,000
Total operating expenses 333,871,000 358,397,000 342,773,000
Gain (loss) on sale of storage facilities 56,398,000 (3,503,000) 15,270,000
Gain on sale of real estate 718,000   623,000
Income from operations 274,095,000 167,850,000 135,728,000
Other income (expenses)      
Interest expense (70,672,000) (74,362,000) (47,175,000)
Interest expense – bridge financing commitment fee     (7,329,000)
Interest income 13,000 7,000 67,000
Equity in income of joint ventures 4,122,000 3,314,000 3,665,000
Net income 207,558,000 96,809,000 84,956,000
Net income attributable to noncontrolling interest in the Operating Partnership (968,000) (444,000) (398,000)
Net loss attributable to noncontrolling interest in consolidated subsidiary     667,000
Net income attributable to common shareholders/unitholders $ 206,590,000 $ 96,365,000 $ 85,225,000
Earnings per common share/unit attributable to common shareholders/unitholders - basic $ 4.44 $ 2.08 $ 1.97
Earnings per common share/unit attributable to common shareholders/unitholders - diluted $ 4.43 $ 2.07 $ 1.96
Net income attributable to general partner $ 2,076,000 $ 968,000 $ 856,000
Net income attributable to limited partners $ 204,514,000 $ 95,397,000 $ 84,369,000