LIFE STORAGE, INC. LSI Income Statement

Life storage, inc. (LSI)

Income statement / TTM

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	Mar'10	Sep'09	Jun'09
Revenues
Rental income
515,535	510,774	507,764	508,017	504,996	502,474	498,353	493,579	488,333	485,303	482,750	477,025	455,174	428,121	396,651	366,398	351,090	338,435	329,044	320,070	310,977	302,044	289,825	276,042	263,775	253,384	243,047	235,312	226,255	217,906	207,380	198,079	192,458	188,371	181,017	178,940	176,552	174,775	183,046	181,944	0	0	0
Other operating income
69,625	63,965	57,685	53,281	49,282	48,376	47,310	46,169	46,191	44,447	42,600	40,558	36,630	34,487	32,319	30,199	29,228	28,167	27,448	26,243	25,054	24,036	23,389	22,378	21,310	20,123	18,603	17,657	16,733	16,176	15,605	15,229	13,840	12,489	11,218	9,821	9,400	8,926	8,684	8,290	0	0	0
Total operating revenues
585,160	574,739	565,449	561,298	554,278	550,850	545,663	539,748	534,524	529,750	525,350	517,583	491,804	462,608	428,970	396,597	380,318	366,602	356,492	346,313	336,031	326,080	313,214	298,420	285,085	273,507	261,650	252,969	242,988	234,082	222,985	213,308	206,298	200,860	192,235	188,761	185,952	183,701	191,730	190,234	0	0	0
Expenses
Property operations and maintenance
131,792	130,103	127,355	125,456	121,810	121,098	121,169	123,515	123,447	122,794	121,169	116,889	110,323	103,388	95,312	87,884	84,217	81,915	80,612	78,901	77,408	75,333	76,552	72,877	69,478	66,119	63,304	62,055	60,701	59,011	53,283	52,239	51,715	51,793	50,168	50,090	49,917	49,338	51,562	50,341	0	0	0
Real estate taxes
66,377	65,061	63,271	62,605	62,029	61,356	60,744	59,792	58,647	57,663	56,637	55,241	51,764	47,876	43,921	40,066	38,190	36,563	34,976	34,041	32,951	32,097	31,194	29,835	28,143	26,496	25,175	23,851	23,011	22,076	20,818	20,165	19,625	19,185	17,738	17,702	17,859	18,026	20,349	20,413	0	0	0
General and administrative
47,191	46,622	47,209	47,397	48,615	48,322	47,236	46,408	50,639	50,031	49,925	49,920	44,075	43,103	41,687	40,145	39,717	38,659	37,570	36,914	36,092	35,222	29,501	29,755	29,879	30,136	31,504	30,711	29,693	28,465	31,349	29,814	27,779	25,986	24,349	22,672	21,704	21,071	19,634	19,012	0	0	0
Acquisition costs
-	-	-	-	-	-	-	-	-	-	-	-	-	29,542	29,873	5,699	4,793	2,991	3,849	4,013	5,163	7,359	7,793	7,359	5,421	3,129	3,208	3,507	4,807	4,328	2,612	4,450	3,243	3,278	3,071	0	0	-	0	-	-	-	-
Payments for rent
-	358	499	565	565	565	564	564	0	-	0	0	-	-	-	-	-	683	2,679	4,676	6,673	7,987	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
109,233	107,130	104,930	105,367	103,993	102,530	102,428	101,286	114,607	127,485	142,896	158,152	138,298	117,081	91,151	64,417	60,750	58,506	57,405	56,091	53,988	51,749	49,160	47,096	45,973	45,233	43,935	43,069	41,850	40,542	39,525	37,683	36,105	34,836	32,700	32,330	31,971	31,546	32,755	32,756	0	0	0
Total operating expenses
354,810	349,274	343,264	341,390	337,012	333,871	332,142	331,566	347,905	358,397	372,936	407,590	373,401	342,773	301,944	238,211	227,667	219,317	217,091	214,636	212,275	209,747	201,522	192,247	182,222	172,444	167,126	163,193	160,062	154,422	148,634	145,398	139,514	136,125	128,766	123,715	122,279	120,767	124,323	122,522	0	0	0
Gain (loss) on sale of storage facilities
-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	0	-	-494	1,770	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of real estate
1,007	1,781	1,794	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	421	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	0	-
Income from operations
335,710	331,599	378,956	278,100	275,458	274,095	211,661	204,679	183,116	167,850	168,307	125,886	134,296	135,728	127,026	158,386	152,651	147,285	139,401	131,677	123,756	116,333	111,692	106,173	102,863	101,063	94,524	89,776	82,926	79,660	74,351	67,910	66,784	64,735	63,469	65,046	63,673	62,934	67,407	67,712	0	0	0
Other income (expenses)
Interest expense
78,857	76,430	74,365	72,528	71,287	70,672	79,791	78,158	76,356	74,362	62,366	60,723	53,251	47,175	41,353	36,125	37,097	37,124	37,043	36,740	36,396	34,578	32,505	31,312	30,886	32,000	33,078	33,505	33,370	33,166	33,724	39,134	38,905	38,549	37,689	31,883	31,730	31,711	34,634	38,379	0	0	0
Interest expense – bridge financing commitment fee
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest income
341	342	345	58	14	13	10	9	8	7	16	28	64	67	56	44	9	5	14	14	36	40	32	32	0	-	0	0	-	4	55	60	68	83	50	69	82	84	87	83	0	0	0
Equity in income of joint ventures
4,871	4,566	4,152	4,023	3,961	4,122	4,122	3,828	3,565	3,314	3,128	3,258	3,471	3,665	3,765	3,819	3,674	3,405	2,968	2,694	2,274	2,086	2,085	1,998	2,020	1,948	1,744	1,504	1,254	936	676	-171	-312	-340	-323	205	210	240	215	262	0	0	0
Income from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	71,472	0	0	0	-	36,837	32,520	0	-	0	0	-	31,547	34,201	30,805	0	0	0
Income from discontinued operations (including a gain on disposal of $2,431 in 2013)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,123	0	0	0	-	7,616	3,055	0	-	0	0	-	10,994	7,334	8,099	0	0	0
Net income
262,065	260,077	309,088	209,653	208,146	207,558	136,002	130,358	110,333	96,809	93,815	53,179	77,251	84,956	96,948	133,578	118,750	113,077	108,732	102,814	94,839	89,057	85,591	79,647	76,998	74,595	65,777	64,936	58,744	55,641	52,470	35,878	34,098	31,529	30,121	37,129	43,353	42,541	41,536	38,904	0	0	0
Net income attributable to noncontrolling interest in the Operating Partnership
1,387	1,378	1,583	1,030	991	968	634	614	508	444	425	233	364	398	463	641	577	553	552	549	530	526	519	489	479	469	423	450	474	513	548	424	628	937	1,254	1,678	1,878	1,899	1,929	1,934	0	0	0
Net loss attributable to noncontrolling interest in consolidated subsidiary
-	-	0	0	-	-	0	0	0	-	-58	-268	-428	-667	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income attributable to common shareholders/unitholders
260,678	258,699	307,505	208,623	207,155	206,590	135,368	129,744	109,825	96,365	93,448	53,214	77,315	85,225	97,094	133,336	118,412	112,524	108,180	102,265	94,309	88,531	85,072	79,158	76,519	74,126	65,354	64,486	58,270	55,128	51,922	35,454	33,470	30,592	28,867	35,451	41,475	40,642	39,607	36,970	0	0	0
Earnings per common share attributable to common shareholders - basic
Continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.63	0.62	0.56	0.46	-	0.48	0.38	0.36	-	0.05	0.34	-	0.20	0.32	0.29	0.27	0.33	0.25
Discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.07	0.01	0.01	0.01	-	0.16	0.03	0.03	-	0.03	0.01	-	0.12	0.00	0.28	0.00	-0.01	0.03
Earnings per common share/unit attributable to common shareholders/unitholders - basic
0.78	0.94	3.00	0.87	0.74	1.99	0.88	0.84	0.73	0.46	0.76	0.42	0.44	0.29	-0.10	1.04	0.74	0.84	0.88	0.81	0.65	0.77	0.77	0.63	0.51	0.70	0.63	0.57	0.47	0.44	0.64	0.41	0.39	0.38	0.08	0.35	0.30	0.32	0.32	0.57	0.27	0.32	0.28
Earnings per common share attributable to common shareholders - diluted
Continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.63	0.61	0.56	0.46	-	0.47	0.37	0.36	-	0.05	0.34	-	0.20	0.32	0.29	0.27	0.33	0.25
Discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.07	0.01	0.01	0.01	-	0.16	0.03	0.03	-	0.03	0.01	-	0.12	0.00	0.28	0.00	-0.01	0.03
Earnings per common share/unit attributable to common shareholders/unitholders - diluted
0.78	0.95	2.99	0.87	0.74	1.98	0.88	0.84	0.73	0.45	0.76	0.42	0.44	0.30	-0.10	1.03	0.73	0.83	0.88	0.80	0.65	0.77	0.77	0.62	0.51	0.70	0.62	0.57	0.47	0.45	0.63	0.40	0.39	0.37	0.08	0.35	0.30	0.32	0.32	0.57	0.27	0.32	0.28
Common shares/units used in basic earnings per share/unit calculation
46,677	-	46,586	46,582	46,565	-	46,526	46,481	46,452	-	46,415	46,364	46,304	-	46,139	41,980	38,410	-	35,700	35,377	34,329	-	33,234	32,799	32,383	-	31,469	31,275	30,488	-	29,474	28,883	28,785	-	27,593	27,559	27,537	-	27,485	27,463	27,445	23,335	22,613
Common shares/units used in diluted earnings per share/unit calculation
46,751	-	46,657	46,631	46,637	-	46,628	46,576	46,537	-	46,520	46,477	46,418	-	46,139	42,227	38,663	-	35,917	35,603	34,554	-	33,398	32,979	32,538	-	31,625	31,425	30,654	-	29,624	29,000	28,877	-	27,634	27,611	27,577	-	27,525	27,508	27,479	23,349	22,616
Dividends/distributions declared per common share/unit
1.07	-	1.00	1.00	1.00	-	1.00	1.00	1.00	-	1.00	1.00	0.95	-	0.95	0.95	0.85	-	0.85	0.75	0.75	-	0.68	0.68	0.68	-	0.53	0.48	0.48	-	0.45	0.45	0.45	-	0.45	0.45	0.45	-	0.45	0.45	0.45	0.45	0.00
Life Storage LP [Member]
Rental income
515,535	510,774	507,764	508,017	504,996	502,474	498,353	493,579	488,333	485,303	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other operating income
69,625	63,965	57,685	53,281	49,282	48,376	47,310	46,169	46,191	44,447	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating revenues
585,160	574,739	565,449	561,298	554,278	550,850	545,663	539,748	534,524	529,750	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property operations and maintenance
131,792	130,103	127,355	125,456	121,810	121,098	121,169	123,515	123,447	122,794	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Real estate taxes
66,377	65,061	63,271	62,605	62,029	61,356	60,744	59,792	58,647	57,663	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
General and administrative
47,191	46,622	47,209	47,397	48,615	48,322	47,236	46,408	50,639	50,031	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments for rent
-	358	499	565	565	565	564	564	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
109,233	107,130	104,930	105,367	103,993	102,530	102,428	101,286	114,607	127,485	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expenses
354,810	349,274	343,264	341,390	337,012	333,871	332,142	331,566	347,905	358,397	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (loss) on sale of storage facilities
-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of real estate
1,007	1,781	1,794	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income from operations
335,710	331,599	378,956	278,100	275,458	274,095	211,661	204,679	183,116	167,850	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense
78,857	76,430	74,365	72,528	71,287	70,672	79,791	78,158	76,356	74,362	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest income
341	342	345	58	14	13	10	9	8	7	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity in income of joint ventures
4,871	4,566	4,152	4,023	3,961	4,122	4,122	3,828	3,565	3,314	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income
262,065	260,077	309,088	209,653	208,146	207,558	136,002	130,358	110,333	96,809	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income attributable to noncontrolling interest in the Operating Partnership
1,387	1,378	1,583	1,030	991	968	634	614	508	444	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net loss attributable to noncontrolling interest in consolidated subsidiary
0	-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income attributable to common shareholders/unitholders
260,678	258,699	307,505	208,623	207,155	206,590	135,368	129,744	109,825	96,365	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings per common share/unit attributable to common shareholders/unitholders - basic
0.78	0.94	3.00	0.87	0.74	1.99	0.88	0.84	0.73	0.46	0.76	0.42	0.44	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings per common share/unit attributable to common shareholders/unitholders - diluted
0.78	0.95	2.99	0.87	0.74	1.98	0.88	0.84	0.73	0.45	0.76	0.42	0.44	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common shares/units used in basic earnings per share/unit calculation
46,677	-	46,586	46,582	46,565	-	46,526	46,481	46,452	-	46,415	46,364	46,304	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common shares/units used in diluted earnings per share/unit calculation
46,751	-	46,657	46,631	46,637	-	46,628	46,576	46,537	-	46,520	46,477	46,418	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends/distributions declared per common share/unit
1.07	-	1.00	1.00	1.00	-	1.00	1.00	1.00	-	1.00	1.00	0.95	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income attributable to general partner
2,621	2,601	3,091	2,096	2,082	2,076	1,360	1,304	1,103	968	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income attributable to limited partners
258,057	256,098	304,414	206,527	205,073	204,514	134,008	128,440	108,722	95,397	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-