LIFE STORAGE, INC. LSI Balance Sheet

Life storage, inc. (LSI)

Balance Sheet / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Dec'09
Assets
Investment in storage facilities:
Land
904	884	879	831	826	794	788	786	786	786	785	786	787	786	785	626	594	480	478	456	433	397	381	370	346	312	306	302	302	297	283	278	272	263	269	242	240	240	235	235	234
Building, equipment, and construction in progress
3,979	3,865	3,808	3,710	3,648	3,604	3,584	3,560	3,541	3,534	3,520	3,503	3,479	3,456	3,416	2,295	2,238	2,011	1,993	1,940	1,883	1,780	1,731	1,693	1,617	1,552	1,513	1,480	1,473	1,444	1,379	1,357	1,327	1,275	1,314	1,192	1,182	1,179	1,143	1,138	1,129
Real estate investment property, at cost, total
4,884	4,749	4,688	4,541	4,475	4,398	4,373	4,347	4,328	4,321	4,306	4,289	4,267	4,243	4,202	2,922	2,832	2,491	2,472	2,396	2,316	2,177	2,113	2,063	1,963	1,864	1,820	1,783	1,776	1,742	1,662	1,636	1,600	1,538	1,583	1,434	1,423	1,419	1,378	1,373	1,364
Less: accumulated depreciation
783	756	730	753	729	704	697	671	647	624	601	578	553	535	513	486	479	465	451	437	424	411	400	389	377	366	360	349	339	324	319	321	314	292	297	288	280	271	263	255	238
Investment in storage facilities, net
4,100	3,993	3,958	3,788	3,745	3,694	3,675	3,675	3,681	3,697	3,704	3,711	3,713	3,707	3,688	2,435	2,353	2,026	2,021	1,958	1,891	1,766	1,712	1,674	1,585	1,498	1,460	1,434	1,437	1,417	1,342	1,315	1,285	1,245	1,286	1,145	1,143	1,148	1,115	1,118	1,125
Cash and cash equivalents
20	17	16	46	8	13	13	7	7	9	6	7	4	23	16	901	6	7	6	6	10	8	7	6	6	9	9	9	6	7	5	7	13	7	6	7	4	5	31	28	10
Accounts receivable
11	12	10	9	9	7	7	7	7	7	7	6	5	5	5	4	4	6	6	6	5	5	5	5	4	5	3	3	3	3	3	3	3	2	2	2	1	2	2	2	2
Receivable from unconsolidated joint ventures
0	1	1	1	1	1	0	0	0	1	0	1	1	1	0	1	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1	0	0	0	0	0	0	0	0
Investment in unconsolidated joint ventures
147	154	150	134	135	145	135	133	133	133	134	132	89	67	66	67	64	62	57	57	57	57	38	36	30	30	37	36	34	34	34	34	33	31	30	19	19	19	19	19	19
Prepaid expenses
11	7	9	8	10	7	10	16	17	6	9	8	10	6	7	6	7	5	5	5	6	6	7	8	7	5	5	5	7	4	4	5	6	3	4	5	6	4	5	5	4
Fair value of interest rate swap agreements
-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	0	-	-	-	-	0	-	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Trade name
16	16	16	16	16	16	16	16	16	16	16	16	16	16	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other assets
29	29	26	30	30	5	9	4	4	4	5	6	16	29	61	9	12	9	9	9	8	9	7	8	7	11	5	6	5	6	5	5	6	7	8	3	5	4	4	4	5
Net assets of discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9	-	11	-	43	-	-	-	-	0	0	16
Total Assets
4,339	4,232	4,188	4,034	3,958	3,892	3,869	3,862	3,868	3,876	3,884	3,890	3,857	3,857	3,848	3,426	2,449	2,118	2,106	2,044	1,982	1,854	1,781	1,740	1,643	1,561	1,523	1,497	1,495	1,484	1,397	1,382	1,350	1,343	1,340	1,184	1,181	1,185	1,179	1,178	1,185
Liabilities
Line of credit
183	65	25	-	177	91	128	113	130	105	329	331	299	253	240	-	141	79	114	96	63	49	-	8	115	49	49	64	76	105	26	70	63	46	114	35	16	10	0	0	0
Term notes, net
1,858	1,858	1,857	1,856	1,611	1,610	1,610	1,610	1,609	1,609	1,388	1,388	1,387	1,387	1,387	1,187	746	746	750	750	750	750	750	750	575	575	575	575	575	575	575	575	575	575	475	400	400	400	400	400	400
Accounts payable and accrued liabilities
81	103	99	90	77	87	79	83	69	92	73	66	45	75	62	37	38	47	47	37	33	43	43	35	27	37	33	28	22	36	29	26	20	31	30	20	18	23	24	19	22
Deferred revenue
13	11	10	9	9	9	9	10	10	9	9	10	9	9	9	8	8	7	7	7	7	7	7	7	7	6	6	7	6	6	6	7	6	6	5	5	5	4	4	5	4
Fair value of interest rate swap agreements
-	-	-	-	-	-	-	-	-	-	10	11	11	13	19	22	26	15	19	14	17	13	10	12	9	7	10	7	14	15	16	14	9	10	8	7	8	10	12	12	11
Mortgages payable
34	34	35	12	12	12	12	12	12	12	12	12	12	13	10	10	1	1	2	2	2	2	2	2	2	2	3	4	4	4	4	4	4	4	74	77	78	78	79	80	81
Total Liabilities
2,171	2,073	2,027	1,968	1,887	1,810	1,839	1,828	1,831	1,829	1,824	1,819	1,767	1,751	1,728	1,265	962	898	940	907	873	865	813	815	736	678	677	686	698	742	657	698	679	673	708	546	526	528	520	517	520
Noncontrolling redeemable Operating Partnership Units at redemption value
20	26	26	24	23	23	20	20	17	19	17	16	18	18	17	20	24	18	16	15	16	13	14	15	14	12	14	12	12	12	11	16	16	14	12	13	13	12	12	11	15
Common stock $.01 par value, 100,000,000 shares authorized, 46,902,364 shares outstanding at March 31, 2020 (46,675,933 at December 31, 2019)
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Additional paid-in capital
2,399	2,376	2,375	2,374	2,373	2,372	2,370	2,368	2,364	2,363	2,360	2,361	2,354	2,348	2,343	2,339	1,664	1,388	1,337	1,331	1,307	1,156	1,157	1,120	1,097	1,066	1,037	1,001	998	943	942	884	863	862	820	815	818	816	816	815	814
Dividends in excess of net income
246	238	234	326	320	308	354	348	338	327	300	288	262	239	214	167	176	171	168	168	172	167	168	172	169	162	169	170	173	172	171	175	174	169	165	156	153	148	144	140	139
Accumulated other comprehensive loss
-5	-5	-6	-6	-6	-6	-7	-7	-7	-7	-18	-19	-19	-21	-27	-30	-26	-14	-19	-14	-16	-13	-9	-12	-8	-6	-10	-6	-13	-15	-16	-14	-9	-10	-8	-7	-8	-10	-12	-12	-11
Treasury stock at cost, 1,171,886 shares
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	27	27	-	27	27	27	27	27	27	27	27	27	27	27	27	27	27	27	27	27	27	27
Total Shareholders’ Equity
2,147	2,132	2,135	2,041	2,046	2,057	2,009	2,013	2,019	2,028	2,042	2,054	2,072	2,088	2,101	2,140	1,462	1,202	1,150	1,121	1,091	975	952	909	892	870	830	797	784	728	727	667	653	655	619	624	629	631	632	636	636
Noncontrolling interest in consolidated subsidiary
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13	13	13	13	13
Total Equity
2,147	2,132	2,135	2,041	2,046	2,057	2,009	2,013	2,019	2,028	2,042	2,054	2,072	2,088	2,101	2,141	1,462	1,202	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	619	624	642	644	645	649	650
Total Liabilities and Shareholders' Equity/ Partners' Capital
4,339	4,232	4,188	4,034	3,958	3,892	3,869	3,862	3,868	3,876	3,884	3,890	3,857	3,857	3,848	3,426	2,449	2,118	2,106	2,044	1,982	1,854	1,781	1,740	1,643	1,561	1,523	1,497	1,495	1,484	1,397	1,382	1,350	1,343	1,340	1,184	1,181	1,185	1,179	1,178	1,185
Life Storage LP [Member]
Land
904	884	879	831	826	794	788	786	786	786	785	786	787	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Building, equipment, and construction in progress
3,979	3,865	3,808	3,710	3,648	3,604	3,584	3,560	3,541	3,534	3,520	3,503	3,479	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Real estate investment property, at cost, total
4,884	4,749	4,688	4,541	4,475	4,398	4,373	4,347	4,328	4,321	4,306	4,289	4,267	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Less: accumulated depreciation
783	756	730	753	729	704	697	671	647	624	601	578	553	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investment in storage facilities, net
4,100	3,993	3,958	3,788	3,745	3,694	3,675	3,675	3,681	3,697	3,704	3,711	3,713	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash and cash equivalents
20	17	16	46	8	13	13	7	7	9	6	7	4	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts receivable
11	12	10	9	9	7	7	7	7	7	7	6	5	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Receivable from unconsolidated joint ventures
0	1	1	1	1	1	0	0	0	1	0	1	1	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investment in unconsolidated joint ventures
147	154	150	134	135	145	135	133	133	133	134	132	89	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid expenses
11	7	9	8	10	7	10	16	17	6	9	8	10	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair value of interest rate swap agreements
-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Trade name
16	16	16	16	16	16	16	16	16	16	16	16	16	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other assets
29	29	26	30	30	5	9	4	4	4	5	6	16	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total Assets
4,339	4,232	4,188	4,034	3,958	3,892	3,869	3,862	3,868	3,876	3,884	3,890	3,857	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Line of credit
183	65	25	-	177	91	128	113	130	105	329	331	299	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Term notes, net
1,858	1,858	1,857	1,856	1,611	1,610	1,610	1,610	1,609	1,609	1,388	1,388	1,387	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable and accrued liabilities
81	103	99	90	77	87	79	83	69	92	73	66	45	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred revenue
13	11	10	9	9	9	9	10	10	9	9	10	9	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Mortgages payable
34	34	35	12	12	12	12	12	12	12	12	12	12	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair value of interest rate swap agreements
-	-	-	-	-	-	-	-	-	-	10	11	11	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total Liabilities
2,171	2,073	2,027	1,968	1,887	1,810	1,839	1,828	1,831	1,829	1,824	1,819	1,767	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Limited partners’ redeemable capital interest at redemption value (243,966 and 246,466 units outstanding at March 31, 2020 and December 31, 2019, respectively)
20	26	26	24	23	23	20	20	17	19	17	16	18	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
General partner (471,464 and 469,225 units outstanding at March 31, 2020 and December 31, 2019, respectively)
21	21	21	20	20	20	20	20	20	20	20	20	20	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Limited partners (46,430,900 and 46,206,708 units outstanding at March 31, 2020 and December 31, 2019, respectively)
2,131	2,117	2,119	2,027	2,032	2,043	1,996	2,000	2,006	2,015	2,040	2,053	2,071	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accumulated other comprehensive loss
-5	-5	-6	-6	-6	-6	-7	-7	-7	-7	-18	-19	-19	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total Controlling Partners’ Capital
2,147	2,132	2,135	2,041	2,046	2,057	2,009	2,013	2,019	2,028	2,042	2,054	2,072	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Noncontrolling interest in consolidated subsidiary
0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total Partners' Capital
2,147	2,132	2,135	2,041	2,046	2,057	2,009	2,013	2,019	2,028	2,042	2,054	2,072	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total Liabilities and Shareholders' Equity/ Partners' Capital
4,339	4,232	4,188	4,034	3,958	3,892	3,869	3,862	3,868	3,876	3,884	3,890	3,857	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-