Quarterly report pursuant to Section 13 or 15(d)

Partners' Capital

v3.19.1
Partners' Capital
3 Months Ended
Mar. 31, 2019
Equity [Abstract]  
Partners' Capital

14. PARTNERS’ CAPITAL

The following is a reconciliation of the changes in total partners’ capital for the three months ended March 31, 2019:

 

(dollars in thousands)

 

Life Storage

Holdings, Inc.

General

Partner

 

 

Life Storage,

Inc. Limited

Partner

 

 

Accumulated

Other

Comprehensive

Income (loss)

 

 

Total

Controlling

Partners’

Capital

 

Balance December 31, 2018

 

$

20,816

 

 

$

2,043,796

 

 

$

(6,875

)

 

$

2,057,737

 

Earned portion of non-vested stock

 

 

14

 

 

 

1,382

 

 

 

 

 

 

1,396

 

Adjustment to redemption value on noncontrolling

   redeemable Operating Partnership units

 

 

 

 

 

(294

)

 

 

 

 

 

(294

)

Net income attributable to common unitholders

 

 

347

 

 

 

34,107

 

 

 

 

 

 

34,454

 

Amortization of terminated hedge included in AOCL

 

 

2

 

 

 

(2

)

 

 

229

 

 

 

229

 

Distributions

 

 

(469

)

 

 

(46,162

)

 

 

 

 

 

(46,631

)

Balance March 31, 2019

 

$

20,710

 

 

$

2,032,827

 

 

$

(6,646

)

 

$

2,046,891

 

 

The following is a reconciliation of the changes in total partners’ capital for the three months ended March 31, 2018:

 

(dollars in thousands)

 

Life Storage

Holdings, Inc.

General

Partner

 

 

Life Storage,

Inc. Limited

Partner

 

 

Accumulated

Other

Comprehensive

Income (loss)

 

 

Total

Controlling

Partners’

Capital

 

Balance December 31, 2017

 

$

20,478

 

 

$

2,015,432

 

 

$

(7,587

)

 

$

2,028,323

 

Forfeiture of non-vested stock

 

 

1

 

 

 

(1

)

 

 

 

 

 

 

Earned portion of non-vested stock

 

 

15

 

 

 

1,480

 

 

 

 

 

 

1,495

 

Stock option expense

 

 

 

 

 

 

4

 

 

 

 

 

 

 

4

 

Adjustment to redemption value on noncontrolling

   redeemable Operating Partnership units

 

 

 

 

 

 

1,470

 

 

 

 

 

 

 

1,470

 

Net income attributable to common unitholders

 

 

340

 

 

 

33,549

 

 

 

 

 

 

 

33,889

 

Amortization of terminated hedge included in AOCL

 

 

2

 

 

 

(2

)

 

 

229

 

 

 

229

 

Change in fair value of derivatives, net

   of reclassifications

 

 

 

 

 

 

 

 

48

 

 

 

48

 

Distributions

 

 

(463

)

 

 

(45,658

)

 

 

 

 

 

(46,121

)

Balance March 31, 2018

 

$

20,373

 

 

$

2,006,274

 

 

$

(7,310

)

 

$

2,019,337