Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.21.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2021
Dec. 31, 2020
Investment in storage facilities:    
Land $ 1,038,136 $ 951,813
Building, equipment, and construction in progress 4,849,523 4,378,510
Real estate investment property, at cost, total 5,887,659 5,330,323
Less: accumulated depreciation (937,451) (873,178)
Investment in storage facilities, net 4,950,208 4,457,145
Cash and cash equivalents 29,881 54,400
Accounts receivable 14,087 15,464
Receivable from unconsolidated joint ventures 635 1,064
Investment in unconsolidated joint ventures 139,495 143,042
Prepaid expenses 10,211 8,326
Trade name 16,500 16,500
Other assets 34,071 31,907
Total Assets 5,195,088 4,727,848
Liabilities    
Line of credit 140,000 0
Term notes, net 2,156,823 2,155,457
Accounts payable and accrued liabilities 109,508 112,654
Deferred revenue 22,587 17,416
Mortgages payable 37,406 37,777
Total Liabilities 2,466,324 2,323,304
Noncontrolling redeemable Operating Partnership Units at redemption value 35,765 26,446
Shareholders' Equity/ Partners' Capital    
Common stock $.01 par value, 200,000,000 shares authorized, 78,041,891 shares outstanding at June 30, 2021 (74,211,920 at December 31, 2020) 781 495
Additional paid-in capital 3,002,782 2,671,311
Dividends in excess of net income (305,981) (288,667)
Accumulated other comprehensive loss (4,583) (5,041)
Total Shareholders’ Equity 2,692,999 2,378,098
Total Liabilities and Shareholders' Equity/ Partners' Capital 5,195,088 4,727,848
Life Storage LP [Member]    
Investment in storage facilities:    
Land 1,038,136 951,813
Building, equipment, and construction in progress 4,849,523 4,378,510
Real estate investment property, at cost, total 5,887,659 5,330,323
Less: accumulated depreciation (937,451) (873,178)
Investment in storage facilities, net 4,950,208 4,457,145
Cash and cash equivalents 29,881 54,400
Accounts receivable 14,087 15,464
Receivable from unconsolidated joint ventures 635 1,064
Investment in unconsolidated joint ventures 139,495 143,042
Prepaid expenses 10,211 8,326
Trade name 16,500 16,500
Other assets 34,071 31,907
Total Assets 5,195,088 4,727,848
Liabilities    
Line of credit 140,000 0
Term notes, net 2,156,823 2,155,457
Accounts payable and accrued liabilities 109,508 112,654
Deferred revenue 22,587 17,416
Mortgages payable 37,406 37,777
Total Liabilities 2,466,324 2,323,304
Limited partners' redeemable capital interest at redemption value (332,399 and 334,149 units outstanding at June 30, 2021 and December 31, 2020, respectively) 35,765 26,446
Shareholders' Equity/ Partners' Capital    
General partner (783,747 and 745,461 units outstanding at June 30, 2021 and December 31, 2020, respectively) 27,287 24,045
Limited partners (77,258,144 and 73,466,459 units outstanding at June 30, 2021 and December 31, 2020, respectively) 2,670,295 2,359,094
Accumulated other comprehensive loss (4,583) (5,041)
Total Partners’ Capital 2,692,999 2,378,098
Total Liabilities and Shareholders' Equity/ Partners' Capital $ 5,195,088 $ 4,727,848