Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.22.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Investment in storage facilities:    
Land $ 1,185,976 $ 951,813
Building, equipment, and construction in progress 5,904,481 4,378,510
Real estate investment property, at cost, total 7,090,457 5,330,323
Less: accumulated depreciation (1,007,650) (873,178)
Investment in storage facilities, net 6,082,807 4,457,145
Cash and cash equivalents 171,865 54,400
Accounts receivable 17,784 15,464
Receivable from unconsolidated joint ventures 333 1,064
Investment in unconsolidated joint ventures 213,003 143,042
Prepaid expenses 9,918 8,326
Trade name 16,500 16,500
Other assets 44,387 31,907
Total Assets 6,556,597 4,727,848
Liabilities    
Line of credit 0 0
Term notes, net 2,747,838 2,155,457
Accounts payable and accrued liabilities 131,778 112,654
Deferred revenue 27,277 17,416
Mortgages payable 37,030 37,777
Total Liabilities 2,943,923 2,323,304
Noncontrolling redeemable Preferred Operating Partnership Units at redemption value 90,783 0
Noncontrolling redeemable Common Operating Partnership Units at redemption value 142,892 26,446
Shareholders' Equity/ Partners' Capital    
Common stock $.01 par value, 200,000,000 shares authorized, 83,565,710 shares outstanding at December 31, 2021 (74,211,920 at December 31, 2020) 836 495
Additional paid-in capital 3,697,000 2,671,311
Dividends in excess of net income (314,713) (288,667)
Accumulated other comprehensive loss (4,124) (5,041)
Total Shareholders’ Equity 3,378,999 2,378,098
Total Liabilities and Shareholders' Equity/ Partners' Capital 6,556,597 4,727,848
Redeemable Preferred Stock [Member]    
Liabilities    
Noncontrolling redeemable Preferred Operating Partnership Units at redemption value 90,783 0
Life Storage LP [Member]    
Investment in storage facilities:    
Land 1,185,976 951,813
Building, equipment, and construction in progress 5,904,481 4,378,510
Real estate investment property, at cost, total 7,090,457 5,330,323
Less: accumulated depreciation (1,007,650) (873,178)
Investment in storage facilities, net 6,082,807 4,457,145
Cash and cash equivalents 171,865 54,400
Accounts receivable 17,784 15,464
Receivable from unconsolidated joint ventures 333 1,064
Investment in unconsolidated joint ventures 213,003 143,042
Prepaid expenses 9,918 8,326
Trade name 16,500 16,500
Other assets 44,387 31,907
Total Assets 6,556,597 4,727,848
Liabilities    
Line of credit 0 0
Term notes, net 2,747,838 2,155,457
Accounts payable and accrued liabilities 131,778 112,654
Deferred revenue 27,277 17,416
Mortgages payable 37,030 37,777
Total Liabilities 2,943,923 2,323,304
Noncontrolling redeemable Preferred Operating Partnership Units at redemption value 90,783 0
Noncontrolling redeemable Common Operating Partnership Units at redemption value 142,892 26,446
Shareholders' Equity/ Partners' Capital    
General partner (881,030 and 745,461 units outstanding at December 31, 2021 and December 31, 2020, respectively) 36,131 24,045
Limited partners (82,684,680 and 73,466,459 units outstanding at December 31, 2021 and December 31, 2020, respectively) 3,346,992 2,359,094
Accumulated other comprehensive loss (4,124) (5,041)
Total Controlling Partners’ Capital 3,378,999 2,378,098
Total Liabilities and Shareholders' Equity/ Partners' Capital $ 6,556,597 $ 4,727,848