Quarterly report pursuant to Section 13 or 15(d)

Partners' Capital

v3.20.2
Partners' Capital
6 Months Ended
Jun. 30, 2020
Equity [Abstract]  
Partners' Capital

14. PARTNERS’ CAPITAL

The following is a reconciliation of the changes in total partners’ capital for the six months ended June 30, 2020:

 

(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, 2019

 

$

21,594

 

 

$

2,117,258

 

 

$

(5,958

)

 

$

2,132,894

 

Net proceeds from issuance of Operating Partnership Units

 

 

212

 

 

 

21,254

 

 

 

 

 

 

21,466

 

Earned portion of non-vested stock

 

 

11

 

 

 

1,113

 

 

 

 

 

 

1,124

 

Adjustment to redemption value on noncontrolling

   redeemable Operating Partnership Units

 

 

 

 

 

5,542

 

 

 

 

 

 

5,542

 

Net income attributable to common unitholders

 

 

366

 

 

 

36,067

 

 

 

 

 

 

36,433

 

Amortization of terminated hedge included in AOCL

 

 

2

 

 

 

(2

)

 

 

229

 

 

 

229

 

Distributions

 

 

(502

)

 

 

(49,467

)

 

 

 

 

 

(49,969

)

Balance March 31, 2020

 

 

21,683

 

 

 

2,131,765

 

 

 

(5,729

)

 

 

2,147,719

 

Earned portion of non-vested stock

 

 

11

 

 

 

1,060

 

 

 

 

 

 

1,071

 

Adjustment to redemption value on noncontrolling

   redeemable Operating Partnership Units

 

 

 

 

 

(2,609

)

 

 

 

 

 

(2,609

)

Net income attributable to common unitholders

 

 

366

 

 

 

36,091

 

 

 

 

 

 

36,457

 

Amortization of terminated hedge included in AOCL

 

 

2

 

 

 

(2

)

 

 

229

 

 

 

229

 

Distributions

 

 

(504

)

 

 

(49,682

)

 

 

 

 

 

(50,186

)

Balance June 30, 2020

 

$

21,558

 

 

$

2,116,623

 

 

$

(5,500

)

 

$

2,132,681

 

 

The following is a reconciliation of the changes in total partners’ capital for the six months ended June 30, 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

 

Earned portion of non-vested stock

 

 

9

 

 

 

831

 

 

 

 

 

 

840

 

Adjustment to redemption value on noncontrolling

   redeemable Operating Partnership Units

 

 

 

 

 

(150

)

 

 

 

 

 

(150

)

Net income attributable to common unitholders

 

 

409

 

 

 

40,333

 

 

 

 

 

 

40,742

 

Amortization of terminated hedge included in AOCL

 

 

2

 

 

 

(2

)

 

 

229

 

 

 

229

 

Distributions

 

 

(469

)

 

 

(46,163

)

 

 

 

 

 

(46,632

)

Balance June 30, 2019

 

$

20,661

 

 

$

2,027,676

 

 

$

(6,417

)

 

$

2,041,920