Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations (Unaudited)

v3.20.2
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues        
Rental income $ 128,828 $ 128,913 $ 257,736 $ 253,060
Other operating income 18,185 16,115 36,220 28,492
Total operating revenues 147,013 145,028 293,956 281,552
Expenses        
Property operations and maintenance 32,247 33,433 65,097 64,594
Real estate taxes 17,614 16,219 35,022 32,311
General and administrative 12,223 10,510 25,129 22,847
Payments for rent   141   283
Depreciation and amortization 28,987 26,158 57,317 52,387
Total operating expenses 91,071 86,461 182,565 172,422
Gain on sale of real estate     302 1,076
Income from operations 55,942 58,567 111,693 110,206
Other income (expenses)        
Interest expense (20,266) (18,759) (40,513) (36,578)
Interest income 2 46 7 51
Equity in income of joint ventures 970 1,110 2,086 1,921
Net income 36,648 40,964 73,273 75,600
Net income attributable to noncontrolling interest in the Operating Partnership (191) (222) (383) (404)
Net income attributable to common shareholders/unitholders $ 36,457 $ 40,742 $ 72,890 $ 75,196
Earnings per common share/unit attributable to common shareholders/unitholders - basic $ 0.78 $ 0.87 $ 1.56 $ 1.61
Earnings per common share/unit attributable to common shareholders/unitholders - diluted $ 0.78 $ 0.87 $ 1.56 $ 1.61
Common shares/units used in basic earnings per share/unit calculation 46,844,888 46,582,235 46,761,063 46,573,541
Common shares/units used in diluted earnings per share/unit calculation 46,906,138 46,631,214 46,828,517 46,633,957
Dividends/distributions declared per common share/unit $ 1.07 $ 1.00 $ 2.14 $ 2.00
Life Storage LP [Member]        
Revenues        
Rental income $ 128,828 $ 128,913 $ 257,736 $ 253,060
Other operating income 18,185 16,115 36,220 28,492
Total operating revenues 147,013 145,028 293,956 281,552
Expenses        
Property operations and maintenance 32,247 33,433 65,097 64,594
Real estate taxes 17,614 16,219 35,022 32,311
General and administrative 12,223 10,510 25,129 22,847
Payments for rent   141   283
Depreciation and amortization 28,987 26,158 57,317 52,387
Total operating expenses 91,071 86,461 182,565 172,422
Gain on sale of real estate     302 1,076
Income from operations 55,942 58,567 111,693 110,206
Other income (expenses)        
Interest expense (20,266) (18,759) (40,513) (36,578)
Interest income 2 46 7 51
Equity in income of joint ventures 970 1,110 2,086 1,921
Net income 36,648 40,964 73,273 75,600
Net income attributable to noncontrolling interest in the Operating Partnership (191) (222) (383) (404)
Net loss attributable to noncontrolling interest in consolidated subsidiary 0 0 0 0
Net income attributable to common shareholders/unitholders $ 36,457 $ 40,742 $ 72,890 $ 75,196
Earnings per common share/unit attributable to common shareholders/unitholders - basic $ 0.78 $ 0.87 $ 1.56 $ 1.61
Earnings per common share/unit attributable to common shareholders/unitholders - diluted $ 0.78 $ 0.87 $ 1.56 $ 1.61
Common shares/units used in basic earnings per share/unit calculation 46,844,888 46,582,235 46,761,063 46,573,541
Common shares/units used in diluted earnings per share/unit calculation 46,906,138 46,631,214 46,828,517 46,633,957
Dividends/distributions declared per common share/unit $ 1.07 $ 1.00 $ 2.14 $ 2.00
Net income attributable to general partner $ 366 $ 409 $ 733 $ 756
Net income attributable to limited partners $ 36,091 $ 40,333 $ 72,157 $ 74,440