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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues        
Rental income $ 128,913 $ 125,892 $ 253,060 $ 247,516
Other operating income 16,115 12,116 28,492 23,586
Total operating revenues 145,028 138,008 281,552 271,102
Expenses        
Property operations and maintenance 33,433 29,787 64,594 60,236
Real estate taxes 16,219 15,643 32,311 31,061
General and administrative 10,510 11,728 22,847 23,771
Payments for rent 141 141 283 283
Depreciation and amortization 26,158 24,784 52,387 49,548
Total operating expenses 86,461 82,083 172,422 164,899
Gain on sale of real estate     1,076  
Income from operations 58,567 55,925 110,206 106,203
Other income (expenses)        
Interest expense (18,759) (17,518) (36,578) (34,722)
Interest income 46 2 51 6
Equity in income of joint ventures 1,110 1,048 1,921 2,020
Net income 40,964 39,457 75,600 73,507
Net income attributable to noncontrolling interest in the Operating Partnership (222) (183) (404) (344)
Net loss attributable to noncontrolling interest in consolidated subsidiary 0 0 0 0
Net income attributable to common shareholders/unitholders $ 40,742 $ 39,274 $ 75,196 $ 73,163
Earnings per common share/unit attributable to common shareholders/unitholders - basic $ 0.87 $ 0.84 $ 1.61 $ 1.57
Earnings per common share/unit attributable to common shareholders/unitholders - diluted $ 0.87 $ 0.84 $ 1.61 $ 1.57
Common shares/units used in basic earnings per share/unit calculation 46,582,235 46,480,907 46,573,541 46,466,700
Common shares/units used in diluted earnings per share/unit calculation 46,631,214 46,576,352 46,633,957 46,556,512
Dividends/distributions declared per common share/unit $ 1.00 $ 1.00 $ 2.00 $ 2.00
Life Storage LP [Member]        
Revenues        
Rental income $ 128,913 $ 125,892 $ 253,060 $ 247,516
Other operating income 16,115 12,116 28,492 23,586
Total operating revenues 145,028 138,008 281,552 271,102
Expenses        
Property operations and maintenance 33,433 29,787 64,594 60,236
Real estate taxes 16,219 15,643 32,311 31,061
General and administrative 10,510 11,728 22,847 23,771
Payments for rent 141 141 283 283
Depreciation and amortization 26,158 24,784 52,387 49,548
Total operating expenses 86,461 82,083 172,422 164,899
Gain on sale of real estate     1,076  
Income from operations 58,567 55,925 110,206 106,203
Other income (expenses)        
Interest expense (18,759) (17,518) (36,578) (34,722)
Interest income 46 2 51 6
Equity in income of joint ventures 1,110 1,048 1,921 2,020
Net income 40,964 39,457 75,600 73,507
Net income attributable to noncontrolling interest in the Operating Partnership (222) (183) (404) (344)
Net loss attributable to noncontrolling interest in consolidated subsidiary 0 0 0 0
Net income attributable to common shareholders/unitholders $ 40,742 $ 39,274 $ 75,196 $ 73,163
Earnings per common share/unit attributable to common shareholders/unitholders - basic $ 0.87 $ 0.84 $ 1.61 $ 1.57
Earnings per common share/unit attributable to common shareholders/unitholders - diluted $ 0.87 $ 0.84 $ 1.61 $ 1.57
Common shares/units used in basic earnings per share/unit calculation 46,582,235 46,480,907 46,573,541 46,466,700
Common shares/units used in diluted earnings per share/unit calculation 46,631,214 46,576,352 46,633,957 46,556,512
Dividends/distributions declared per common share/unit $ 1.00 $ 1.00 $ 2.00 $ 2.00
Net income attributable to general partner $ 409 $ 395 $ 756 $ 735
Net income attributable to limited partners $ 40,333 $ 38,879 $ 74,440 $ 72,428