| Partners' Capital |
14. PARTNERS’ CAPITAL
The following is a reconciliation of the changes in total partners’ capital for the six months ended June 30, 2021:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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, 2020 |
|
$ |
24,045 |
|
|
$ |
2,359,094 |
|
|
$ |
(5,041 |
) |
|
$ |
2,378,098 |
|
Net proceeds from issuance of Operating Partnership Units |
|
|
1,807 |
|
|
|
178,722 |
|
|
|
— |
|
|
|
180,529 |
|
Earned portion of non-vested stock |
|
|
14 |
|
|
|
1,439 |
|
|
|
— |
|
|
|
1,453 |
|
Carrying value less than redemption value on redeemed
noncontrolling interest |
|
|
(1 |
) |
|
|
(3 |
) |
|
|
— |
|
|
|
(4 |
) |
Adjustment to redemption value on noncontrolling
redeemable Operating Partnership Units |
|
|
— |
|
|
|
(2,358 |
) |
|
|
— |
|
|
|
(2,358 |
) |
Net income attributable to common unitholders |
|
|
476 |
|
|
|
46,907 |
|
|
|
— |
|
|
|
47,383 |
|
Amortization of terminated hedge included in AOCL |
|
|
2 |
|
|
|
(2 |
) |
|
|
229 |
|
|
|
229 |
|
Distributions |
|
|
(561 |
) |
|
|
(55,279 |
) |
|
|
— |
|
|
|
(55,840 |
) |
Balance March 31, 2021 |
|
$ |
25,782 |
|
|
$ |
2,528,520 |
|
|
$ |
(4,812 |
) |
|
$ |
2,549,490 |
|
Net proceeds from issuance of Operating Partnership Units |
|
|
1,483 |
|
|
|
146,842 |
|
|
|
— |
|
|
|
148,325 |
|
Earned portion of non-vested stock |
|
|
15 |
|
|
|
1,452 |
|
|
|
— |
|
|
|
1,467 |
|
Carrying value less than redemption value on redeemed
noncontrolling interest |
|
|
(1 |
) |
|
|
(12 |
) |
|
|
— |
|
|
|
(13 |
) |
Adjustment to redemption value on noncontrolling
redeemable Operating Partnership Units |
|
|
— |
|
|
|
(7,142 |
) |
|
|
— |
|
|
|
(7,142 |
) |
Net income attributable to common unitholders |
|
|
578 |
|
|
|
56,938 |
|
|
|
— |
|
|
|
57,516 |
|
Amortization of terminated hedge included in AOCL |
|
|
2 |
|
|
|
(2 |
) |
|
|
229 |
|
|
|
229 |
|
Distributions |
|
|
(572 |
) |
|
|
(56,301 |
) |
|
|
— |
|
|
|
(56,873 |
) |
Balance June 30, 2021 |
|
$ |
27,287 |
|
|
$ |
2,670,295 |
|
|
$ |
(4,583 |
) |
|
$ |
2,692,999 |
|
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 |
|
|