| Supplementary Quarterly Financial Data (Unaudited) |
13. SUPPLEMENTARY QUARTERLY FINANCIAL DATA (UNAUDITED)
The following is a summary of quarterly results of Life Storage, Inc. operations for the years ended December 31, 2021 and 2020 (dollars in thousands, except per share data):
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2021 Quarter Ended |
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Mar. 31 |
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Jun. 30 |
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Sept. 30 |
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Dec. 31 |
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Operating revenue |
|
$ |
171,887 |
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|
$ |
187,262 |
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|
$ |
208,256 |
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$ |
221,159 |
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Net income |
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|
47,592 |
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|
|
57,765 |
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|
|
71,051 |
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|
|
75,767 |
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Net income attributable to common shareholders |
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|
47,383 |
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|
|
57,516 |
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|
70,274 |
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|
74,145 |
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Net income per share attributable to common shareholders |
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Basic |
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$ |
0.63 |
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$ |
0.75 |
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$ |
0.89 |
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$ |
0.90 |
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Diluted |
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$ |
0.63 |
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$ |
0.74 |
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$ |
0.89 |
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$ |
0.90 |
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2020 Quarter Ended |
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Mar. 31 |
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Jun. 30 |
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Sept. 30 |
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Dec. 31 |
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Operating revenue |
|
$ |
146,943 |
|
|
$ |
147,013 |
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|
$ |
156,310 |
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|
$ |
166,505 |
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Net income |
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|
36,625 |
|
|
|
36,648 |
|
|
|
37,288 |
|
|
|
41,799 |
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Net income attributable to common shareholders |
|
|
36,433 |
|
|
|
36,457 |
|
|
|
37,095 |
|
|
|
41,586 |
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Net income per share attributable to common shareholders |
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|
|
|
|
|
|
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Basic |
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$ |
0.52 |
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|
$ |
0.52 |
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|
$ |
0.52 |
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|
$ |
0.57 |
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Diluted |
|
$ |
0.52 |
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|
$ |
0.52 |
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|
$ |
0.52 |
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|
$ |
0.57 |
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The following is a summary of quarterly results of Life Storage LP operations for the years ended December 31, 2021 and 2020 (dollars in thousands, except per unit data):
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|
|
|
|
|
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|
|
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|
|
|
2021 Quarter Ended |
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|
|
Mar. 31 |
|
|
Jun. 30 |
|
|
Sept. 30 |
|
|
Dec. 31 |
|
Operating revenue |
|
$ |
171,887 |
|
|
$ |
187,262 |
|
|
$ |
208,256 |
|
|
$ |
221,159 |
|
Net income |
|
|
47,592 |
|
|
|
57,765 |
|
|
|
71,051 |
|
|
|
75,767 |
|
Net income attributable to common unitholders |
|
|
47,383 |
|
|
|
57,516 |
|
|
|
70,274 |
|
|
|
74,145 |
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Net income per unit attributable to common unitholders |
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Basic |
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$ |
0.63 |
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|
$ |
0.75 |
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|
$ |
0.89 |
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|
$ |
0.90 |
|
Diluted |
|
$ |
0.63 |
|
|
$ |
0.74 |
|
|
$ |
0.89 |
|
|
$ |
0.90 |
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|
|
|
|
|
|
|
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|
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|
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|
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2020 Quarter Ended |
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Mar. 31 |
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Jun. 30 |
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Sept. 30 |
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Dec. 31 |
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Operating revenue |
|
$ |
146,943 |
|
|
$ |
147,013 |
|
|
$ |
156,310 |
|
|
$ |
166,505 |
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Net income |
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|
36,625 |
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|
|
36,648 |
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|
|
37,288 |
|
|
|
41,799 |
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Net income attributable to common unitholders |
|
|
36,433 |
|
|
|
36,457 |
|
|
|
37,095 |
|
|
|
41,586 |
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Net income per unit attributable to common unitholders |
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
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$ |
0.52 |
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$ |
0.52 |
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|
$ |
0.52 |
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|
$ |
0.57 |
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Diluted |
|
$ |
0.52 |
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|
$ |
0.52 |
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|
$ |
0.52 |
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|
$ |
0.57 |
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See Note 2 for discussion of the Company’s three-for-two distribution of common stock announced by the Company on January 4, 2021. See Note 4 for a discussion of the depreciation resulting from the change in estimated useful lives of buildings identified for replacement at certain of the Company’s self-storage facilities. See note 5 for financing transactions entered into in 2021 and 2020.
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