Partners' Capital (Tables)

6 Months Ended

Jun. 30, 2019

Equity [Abstract]

Reconciliation of Changes in Total Partners' Capital

The following is a reconciliation of the changes in total partners’ capital for the six months ended June 30, 2019:

(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, 2018	$	20,816		$	2,043,796		$	(6,875	)	$	2,057,737
Earned portion of non-vested stock		14			1,382			—			1,396
Adjustment to redemption value on noncontrolling    redeemable Operating Partnership units		—			(294	)		—			(294	)
Net income attributable to common unitholders		347			34,107			—			34,454
Amortization of terminated hedge included in AOCL		2			(2	)		229			229
Distributions		(469	)		(46,162	)		—			(46,631	)
Balance March 31, 2019		20,710			2,032,827			(6,646	)		2,046,891
Earned portion of non-vested stock		9			831			—			840
Adjustment to redemption value on noncontrolling    redeemable Operating Partnership units		—			(150	)		—			(150	)
Net income attributable to common unitholders		409			40,333			—			40,742
Amortization of terminated hedge included in AOCL		2			(2	)		229			229
Distributions		(469	)		(46,163	)		—			(46,632	)
Balance June 30, 2019	$	20,661		$	2,027,676		$	(6,417	)	$	2,041,920

The following is a reconciliation of the changes in total partners’ capital for the six months ended June 30, 2018:

(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, 2017	$	20,478		$	2,015,432		$	(7,587	)	$	2,028,323
Forfeiture of non-vested stock		1			(1	)		—			—
Earned portion of non-vested stock		15			1,480			—			1,495
Stock option expense		—			4			—			4
Adjustment to redemption value on noncontrolling    redeemable Operating Partnership units		—			1,470			—			1,470
Net income attributable to common unitholders		340			33,549			—			33,889
Amortization of terminated hedge included in AOCL		2			(2	)		229			229
Change in fair value of derivatives, net    of reclassifications		—			—			48			48
Distributions		(463	)		(45,658	)		—			(46,121	)
Balance March 31, 2018		20,373			2,006,274			(7,310	)		2,019,337
Exercise of stock options		30			3,015			—			3,045
Earned portion of non-vested stock		13			1,239			—			1,252
Stock option expense		—			3			—			3
Carrying value less than redemption value on    redeemed noncontrolling interest		(2	)		(26	)		—			(28	)
Adjustment to redemption value on    noncontrolling redeemable Operating    Partnership Units		—			(3,035	)		—			(3,035	)
Net income attributable to common unitholders		395			38,879			—			39,274
Amortization of terminated hedge included in    AOCL		2			(2	)		229			229
Change in fair value of derivatives, net of    reclassifications		(1	)		1			(123	)		(123	)
Distributions		(467	)		(46,047	)		—			(46,514	)
Balance June 30, 2018	$	20,343		$	2,000,301		$	(7,204	)	$	2,013,440