| Partners' Capital |
14. PARTNERS’ CAPITAL
The following is a reconciliation of the changes in total partners’ capital for the three months ended March 31, 2022:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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, 2021 |
|
$ |
36,131 |
|
|
$ |
3,346,992 |
|
|
$ |
(4,124 |
) |
|
$ |
3,378,999 |
|
Net proceeds from issuance of Operating Partnership
Units |
|
|
927 |
|
|
|
91,844 |
|
|
|
— |
|
|
|
92,771 |
|
Exercise of stock options |
|
|
2 |
|
|
|
171 |
|
|
|
— |
|
|
|
173 |
|
Earned portion of non-vested stock |
|
|
17 |
|
|
|
1,644 |
|
|
|
— |
|
|
|
1,661 |
|
Carrying value less than redemption value on redeemed
noncontrolling interest |
|
|
(1 |
) |
|
|
1 |
|
|
|
— |
|
|
|
— |
|
Adjustment to redemption value on noncontrolling
redeemable Operating Partnership Units |
|
|
— |
|
|
|
10,924 |
|
|
|
— |
|
|
|
10,924 |
|
Net income attributable to common unitholders |
|
|
754 |
|
|
|
72,821 |
|
|
|
— |
|
|
|
73,575 |
|
Amortization of terminated hedge included in AOCL |
|
|
2 |
|
|
|
(2 |
) |
|
|
229 |
|
|
|
229 |
|
Distributions |
|
|
(846 |
) |
|
|
(82,791 |
) |
|
|
— |
|
|
|
(83,637 |
) |
Balance March 31, 2022 |
|
$ |
36,986 |
|
|
$ |
3,441,604 |
|
|
$ |
(3,895 |
) |
|
$ |
3,474,695 |
|
The following is a reconciliation of the changes in total partners’ capital for the three months ended March 31, 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 |
|
|