Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.19.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Investment in storage facilities:    
Land $ 826,917 $ 794,729
Building, equipment, and construction in progress 3,648,239 3,604,210
Real estate investment property, at cost, total 4,475,156 4,398,939
Less: accumulated depreciation (729,296) (704,681)
Investment in storage facilities, net 3,745,860 3,694,258
Cash and cash equivalents 8,875 13,560
Accounts receivable 9,327 7,805
Receivable from unconsolidated joint ventures 1,807 1,006
Investment in unconsolidated joint ventures 135,342 145,911
Prepaid expenses 10,213 7,251
Trade name 16,500 16,500
Other assets 30,879 5,921
Total Assets 3,958,803 3,892,212
Liabilities    
Line of credit 177,000 91,000
Term notes, net 1,611,344 1,610,820
Accounts payable and accrued liabilities 77,513 87,446
Deferred revenue 9,907 9,191
Mortgages payable 12,204 12,302
Total Liabilities 1,887,968 1,810,759
Noncontrolling redeemable Operating Partnership Units at redemption value 23,944 23,716
Shareholders' Equity/ Partners' Capital    
Common stock $.01 par value, 100,000,000 shares authorized, 46,632,703 shares outstanding at March 31, 2019 (46,617,441 at December 31, 2018) 466 466
Additional paid-in capital 2,373,553 2,372,157
Dividends in excess of net income (320,482) (308,011)
Accumulated other comprehensive loss (6,646) (6,875)
Total Shareholders’ Equity 2,046,891 2,057,737
Noncontrolling interest in consolidated subsidiary 0 0
Total Equity 2,046,891 2,057,737
Total Liabilities and Shareholders' Equity/ Partners' Capital 3,958,803 3,892,212
Life Storage LP [Member]    
Investment in storage facilities:    
Land 826,917 794,729
Building, equipment, and construction in progress 3,648,239 3,604,210
Real estate investment property, at cost, total 4,475,156 4,398,939
Less: accumulated depreciation (729,296) (704,681)
Investment in storage facilities, net 3,745,860 3,694,258
Cash and cash equivalents 8,875 13,560
Accounts receivable 9,327 7,805
Receivable from unconsolidated joint ventures 1,807 1,006
Investment in unconsolidated joint ventures 135,342 145,911
Prepaid expenses 10,213 7,251
Trade name 16,500 16,500
Other assets 30,879 5,921
Total Assets 3,958,803 3,892,212
Liabilities    
Line of credit 177,000 91,000
Term notes, net 1,611,344 1,610,820
Accounts payable and accrued liabilities 77,513 87,446
Deferred revenue 9,907 9,191
Mortgages payable 12,204 12,302
Total Liabilities 1,887,968 1,810,759
Limited partners’ redeemable capital interest at redemption value (248,966 units outstanding at March 31, 2019 and December 31, 2018) 23,944 23,716
Shareholders' Equity/ Partners' Capital    
General partner (468,816 and 468,663 units outstanding at March 31, 2019 and December 31, 2018, respectively) 20,710 20,816
Limited partners (46,163,887 and 46,148,778 units outstanding at March 31, 2019 and December 31, 2018, respectively) 2,032,827 2,043,796
Accumulated other comprehensive loss (6,646) (6,875)
Total Controlling Partners’ Capital 2,046,891 2,057,737
Noncontrolling interest in consolidated subsidiary 0 0
Total Partners' Capital 2,046,891 2,057,737
Total Liabilities and Shareholders' Equity/ Partners' Capital $ 3,958,803 $ 3,892,212