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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues        
Rental income $ 120,646 $ 98,795 $ 239,240 $ 190,337
Other operating income 12,138 8,210 21,865 15,792
Total operating revenues 132,784 107,005 261,105 206,129
Expenses        
Property operations and maintenance 29,719 23,153 59,515 46,014
Real estate taxes 14,498 11,021 28,933 21,568
General and administrative 15,959 10,114 27,396 20,578
Acquisition costs   1,694   4,078
Operating leases of storage facilities 141   141  
Depreciation and amortization 38,105 18,251 75,747 34,676
Total operating expenses 98,422 64,233 191,732 126,914
Income from operations 34,362 42,772 69,373 79,215
Other income (expenses)        
Interest expense (15,716) (8,244) (30,926) (17,377)
Interest expense - bridge financing commitment fee   (7,329)   (7,329)
Interest income 1 37 4 43
Gain on sale of storage facilities   15,270   15,270
Equity in income of joint ventures 785 998 1,506 1,913
Net income 19,432 43,504 39,957 71,735
Net income attributable to noncontrolling interest in the Operating Partnership (77) (208) (172) (338)
Net loss attributable to noncontrolling interest in consolidated subsidiary   160   399
Net income attributable to common shareholders/unitholders $ 19,355 $ 43,456 $ 39,785 $ 71,796
Earnings per common share/unit attributable to common shareholders/unitholders - basic $ 0.42 $ 1.04 $ 0.86 $ 1.79
Earnings per common share/unit attributable to common shareholders/unitholders - diluted $ 0.42 $ 1.03 $ 0.86 $ 1.78
Common shares/units used in basic earnings per share/unit calculation 46,364,890 41,980,389 46,334,729 40,195,603
Common shares/units used in diluted earnings per share/unit calculation 46,477,680 42,227,388 46,448,286 40,445,263
Dividends/distributions declared per common share/unit $ 1.00 $ 0.95 $ 1.95 $ 1.80
Life Storage LP [Member]        
Revenues        
Rental income $ 120,646 $ 98,795 $ 239,240 $ 190,337
Other operating income 12,138 8,210 21,865 15,792
Total operating revenues 132,784 107,005 261,105 206,129
Expenses        
Property operations and maintenance 29,719 23,153 59,515 46,014
Real estate taxes 14,498 11,021 28,933 21,568
General and administrative 15,959 10,114 27,396 20,578
Acquisition costs   1,694   4,078
Operating leases of storage facilities 141   141  
Depreciation and amortization 38,105 18,251 75,747 34,676
Total operating expenses 98,422 64,233 191,732 126,914
Income from operations 34,362 42,772 69,373 79,215
Other income (expenses)        
Interest expense (15,716) (8,244) (30,926) (17,377)
Interest expense - bridge financing commitment fee   (7,329)   (7,329)
Interest income 1 37 4 43
Gain on sale of storage facilities   15,270   15,270
Equity in income of joint ventures 785 998 1,506 1,913
Net income 19,432 43,504 39,957 71,735
Net income attributable to noncontrolling interest in the Operating Partnership (77) (208) (172) (338)
Net loss attributable to noncontrolling interest in consolidated subsidiary   160   399
Net income attributable to common shareholders/unitholders $ 19,355 $ 43,456 $ 39,785 $ 71,796
Earnings per common share/unit attributable to common shareholders/unitholders - basic $ 0.42 $ 1.04 $ 0.86 $ 1.79
Earnings per common share/unit attributable to common shareholders/unitholders - diluted $ 0.42 $ 1.03 $ 0.86 $ 1.78
Common shares/units used in basic earnings per share/unit calculation 46,364,890 41,980,389 46,334,729 40,195,603
Common shares/units used in diluted earnings per share/unit calculation 46,477,680 42,227,388 46,448,286 40,445,263
Dividends/distributions declared per common share/unit $ 1.00 $ 0.95 $ 1.95 $ 1.80
Net income attributable to general partner $ 194 $ 437 $ 400 $ 721
Net income attributable to limited partners $ 19,161 $ 43,019 $ 39,385 $ 71,075