Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.22.0.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues      
Rental income $ 690,758 $ 539,554 $ 510,774
Total operating revenues 788,565 616,771 574,739
Expenses      
Property operations and maintenance 143,648 122,544 121,499
Tenant reinsurance 22,882 15,729 8,604
Real estate taxes 79,861 70,302 65,061
General and administrative 62,617 52,055 46,622
Payments for rent 358
Depreciation and amortization 147,119 122,925 107,130
Total operating expenses 456,127 383,555 349,274
Gain on sale of storage facilities 0 0 104,353
Gain on sale of real estate 0 302 1,781
Income from operations (332,438) 233,518 331,599
Other income (expenses)      
Interest expense (86,786) (86,015) (76,430)
Interest income 827 19 342
Equity in income of joint ventures 5,696 4,838 4,566
Net income 252,175 152,360 260,077
Net income attributable to common shareholders/unitholders $ 249,317 $ 151,571 $ 258,699
Earnings per common share/unit attributable to common shareholders/unitholders - basic $ 3.18 $ 2.13 $ 3.70
Earnings per common share/unit attributable to common shareholders/unitholders - diluted $ 3.17 $ 2.13 $ 3.70
Redeemable Preferred Stock [Member]      
Other income (expenses)      
Net income attributable to noncontrolling interest in the Operating Partnership $ (1,494) $ 0 $ 0
Redeemable Common Stock [Member]      
Other income (expenses)      
Net income attributable to noncontrolling interest in the Operating Partnership (1,364) (789) (1,378)
Tenant reinsurance [Member]      
Revenues      
Other operating income 58,103 44,742 34,902
Other operating income [Member]      
Revenues      
Other operating income 39,704 32,475 29,063
Life Storage LP [Member]      
Revenues      
Rental income 690,758 539,554 510,774
Total operating revenues 788,565 616,771 574,739
Expenses      
Property operations and maintenance 143,648 122,544 121,499
Tenant reinsurance 22,882 15,729 8,604
Real estate taxes 79,861 70,302 65,061
General and administrative 62,617 52,055 46,622
Payments for rent 0 0 358
Depreciation and amortization 147,119 122,925 107,130
Total operating expenses 456,127 383,555 349,274
Gain on sale of storage facilities 0 0 104,353
Gain on sale of real estate 0 302 1,781
Income from operations (332,438) 233,518 331,599
Other income (expenses)      
Interest expense (86,786) (86,015) (76,430)
Interest income 827 19 342
Equity in income of joint ventures 5,696 4,838 4,566
Net income 252,175 152,360 260,077
Net income attributable to common shareholders/unitholders $ 249,317 $ 151,571 $ 258,699
Earnings per common share/unit attributable to common shareholders/unitholders - basic $ 3.18 $ 2.13 $ 3.70
Earnings per common share/unit attributable to common shareholders/unitholders - diluted $ 3.17 $ 2.13 $ 3.70
Net income attributable to general partner $ 2,522 $ 1,524 $ 2,601
Net income attributable to limited partners 246,795 150,047 256,098
Life Storage LP [Member] | Redeemable Preferred Stock [Member]      
Other income (expenses)      
Net income attributable to noncontrolling interest in the Operating Partnership (1,494) 0 0
Life Storage LP [Member] | Redeemable Common Stock [Member]      
Other income (expenses)      
Net income attributable to noncontrolling interest in the Operating Partnership (1,364) (789) (1,378)
Life Storage LP [Member] | Tenant reinsurance [Member]      
Revenues      
Other operating income 58,103 44,742 34,902
Life Storage LP [Member] | Other operating income [Member]      
Revenues      
Other operating income $ 39,704 $ 32,475 $ 29,063