Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.20.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Investment in storage facilities:    
Land $ 904,475 $ 884,235
Building, equipment, and construction in progress 3,993,901 3,865,238
Real estate investment property, at cost, total 4,898,376 4,749,473
Less: accumulated depreciation (810,709) (756,333)
Investment in storage facilities, net 4,087,667 3,993,140
Cash and cash equivalents 9,518 17,458
Accounts receivable 11,575 12,218
Receivable from unconsolidated joint ventures 797 1,302
Investment in unconsolidated joint ventures 147,749 154,984
Prepaid expenses 9,761 7,771
Trade name 16,500 16,500
Other assets 27,697 29,591
Total Assets 4,311,264 4,232,964
Liabilities    
Line of credit 158,000 65,000
Term notes, net 1,859,539 1,858,271
Accounts payable and accrued liabilities 89,124 103,942
Deferred revenue 14,433 11,699
Mortgages payable 34,519 34,851
Total Liabilities 2,155,615 2,073,763
Noncontrolling redeemable Operating Partnership Units at redemption value 22,968 26,307
Shareholders' Equity/ Partners' Capital    
Common stock $.01 par value, 100,000,000 shares authorized, 46,918,445 shares outstanding at June 30, 2020 (46,675,933 at December 31, 2019) 469 467
Additional paid-in capital 2,400,382 2,376,723
Dividends in excess of net income (262,670) (238,338)
Accumulated other comprehensive loss (5,500) (5,958)
Total Shareholders’ Equity 2,132,681 2,132,894
Noncontrolling interest in consolidated subsidiary 0 0
Total Equity 2,132,681 2,132,894
Total Liabilities and Shareholders' Equity/ Partners' Capital 4,311,264 4,232,964
Life Storage LP [Member]    
Investment in storage facilities:    
Land 904,475 884,235
Building, equipment, and construction in progress 3,993,901 3,865,238
Real estate investment property, at cost, total 4,898,376 4,749,473
Less: accumulated depreciation (810,709) (756,333)
Investment in storage facilities, net 4,087,667 3,993,140
Cash and cash equivalents 9,518 17,458
Accounts receivable 11,575 12,218
Receivable from unconsolidated joint ventures 797 1,302
Investment in unconsolidated joint ventures 147,749 154,984
Prepaid expenses 9,761 7,771
Trade name 16,500 16,500
Other assets 27,697 29,591
Total Assets 4,311,264 4,232,964
Liabilities    
Line of credit 158,000 65,000
Term notes, net 1,859,539 1,858,271
Accounts payable and accrued liabilities 89,124 103,942
Deferred revenue 14,433 11,699
Mortgages payable 34,519 34,851
Total Liabilities 2,155,615 2,073,763
Limited partners’ redeemable capital interest at redemption value (243,966 and 246,466 units outstanding at June 30, 2020 and December 31, 2019, respectively) 22,968 26,307
Shareholders' Equity/ Partners' Capital    
General partner (471,625 and 469,225 units outstanding at June 30, 2020 and December 31, 2019, respectively) 21,558 21,594
Limited partners (46,446,820 and 46,206,708 units outstanding at June 30, 2020 and December 31, 2019, respectively) 2,116,623 2,117,258
Accumulated other comprehensive loss (5,500) (5,958)
Total Controlling Partners’ Capital 2,132,681 2,132,894
Noncontrolling interest in consolidated subsidiary 0 0
Total Partners' Capital 2,132,681 2,132,894
Total Liabilities and Shareholders' Equity/ Partners' Capital $ 4,311,264 $ 4,232,964