Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.22.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Investment in storage facilities:    
Land $ 1,224,576 $ 1,185,976
Building, equipment, and construction in progress 6,229,832 5,904,481
Real estate investment property, at cost, total 7,454,408 7,090,457
Less: accumulated depreciation (1,048,299) (1,007,650)
Investment in storage facilities, net 6,406,109 6,082,807
Cash and cash equivalents 50,206 171,865
Accounts receivable 18,209 17,784
Receivable from unconsolidated joint ventures 804 333
Investment in unconsolidated joint ventures 214,641 213,003
Prepaid expenses 12,462 9,918
Trade name 16,500 16,500
Other assets 40,560 44,387
Total Assets 6,759,491 6,556,597
Liabilities    
Line of credit 135,000 0
Term notes, net 2,748,787 2,747,838
Accounts payable and accrued liabilities 112,136 131,778
Deferred revenue 29,495 27,277
Mortgages payable 36,837 37,030
Total Liabilities 3,062,255 2,943,923
Noncontrolling redeemable Preferred Operating Partnership Units at redemption value 90,761 90,783
Noncontrolling redeemable Common Operating Partnership Units at redemption value 131,780 142,892
Shareholders' Equity/ Partners' Capital    
Common stock $.01 par value, 200,000,000 shares authorized, 84,307,259 shares outstanding at March 31, 2022 (83,565,710 at December 31, 2021) 843 836
Additional paid-in capital 3,791,598 3,697,000
Dividends in excess of net income (313,851) (314,713)
Accumulated other comprehensive loss (3,895) (4,124)
Total Shareholders’ Equity 3,474,695 3,378,999
Total Liabilities and Shareholders' Equity/ Partners' Capital 6,759,491 6,556,597
Life Storage LP [Member]    
Investment in storage facilities:    
Land 1,224,576 1,185,976
Building, equipment, and construction in progress 6,229,832 5,904,481
Real estate investment property, at cost, total 7,454,408 7,090,457
Less: accumulated depreciation (1,048,299) (1,007,650)
Investment in storage facilities, net 6,406,109 6,082,807
Cash and cash equivalents 50,206 171,865
Accounts receivable 18,209 17,784
Receivable from unconsolidated joint ventures 804 333
Investment in unconsolidated joint ventures 214,641 213,003
Prepaid expenses 12,462 9,918
Trade name 16,500 16,500
Other assets 40,560 44,387
Total Assets 6,759,491 6,556,597
Liabilities    
Line of credit 135,000 0
Term notes, net 2,748,787 2,747,838
Accounts payable and accrued liabilities 112,136 131,778
Deferred revenue 29,495 27,277
Mortgages payable 36,837 37,030
Total Liabilities 3,062,255 2,943,923
Noncontrolling redeemable Preferred Operating Partnership Units at redemption value 90,761 90,783
Noncontrolling redeemable Common Operating Partnership Units at redemption value 131,780 142,892
Shareholders' Equity/ Partners' Capital    
General partner (888,493 and 881,030 units outstanding at March 31, 2022 and December 31, 2021, respectively) 36,986 36,131
Limited partners (83,418,766 and 82,684,680 units outstanding at March 31, 2022 and December 31, 2021, respectively) 3,441,604 3,346,992
Accumulated other comprehensive loss (3,895) (4,124)
Total Partners’ Capital 3,474,695 3,378,999
Total Liabilities and Shareholders' Equity/ Partners' Capital $ 6,759,491 $ 6,556,597