Life Storage (Life Storage) Intangible Assets : $17 Mil (As of Mar. 2023)

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What is Life Storage Intangible Assets?

Intangible assets are defined as identifiable non-monetary assets that cannot be seen, touched or physically measured. Life Storage's intangible assets for the quarter that ended in Mar. 2023 was $17 Mil.

Life Storage Intangible Assets Historical Data

The historical data trend for Life Storage's Intangible Assets can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Life Storage Intangible Assets Chart

Life Storage Annual Data

Trend

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Intangible Assets

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16.50

Life Storage Quarterly Data
	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23
Intangible Assets	Get a 7-Day Free Trial															16.50	16.50	16.50	16.50	16.50

Life Storage Intangible Assets Calculation

Intangible assets are defined as identifiable non-monetary assets that cannot be seen, touched or physically measured. Examples of intangible assets include trade secrets, copyrights, patents, trademarks. If a company acquires assets at the prices above the book value, it may carry goodwill on its balance sheet. Goodwill reflects the difference between the price the company paid and the book value of the assets.

Life Storage (NYSE:LSI) Intangible Assets Explanation

If a company (company A) received a patent through their own work, though it has value, it does not show up on its balance sheet as an intangible asset. However, if company A sells this patent to company B, it will show up on company B's balance sheet as an intangible asset.

The same applies to brand names, trade secrets etc. For instance, Coca-Cola's brand is extremely valuable, but the brand does not appear on its balance sheet, because the brand was never acquired.

Some intangibles are amortized. Amortization is the depreciation of intangible assets.

Many intangibles are not amortized. They may still be written down when the company decides the asset is impaired.

Whenever you see an increase in goodwill over a number of years, you can assume it's because the company is out buying other businesses above book value. GOOD if buying businesses with durable competitive advantage.

If goodwill stays the same, the company when acquiring other companies is either paying less than book value or not acquiring. Businesses with moats never sell for less than book value.

Intangibles acquired are on balance sheet at fair value.

Internally developed brand names (Coke, Wrigleys, Band-Aid) however are not reflected on the balance sheet.

One of the reasons competitive advantage power can remain hidden for so long.

Be Aware

Companies may change the way intangible assets are amortized, and this will affect their reported earnings.

Life Storage Intangible Assets Related Terms

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Life Storage (Life Storage) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Life Storage Inc (NYSE:LSI) » Definitions » Intangible Assets

Comparable Companies

Traded in Other Exchanges

N/A

Address

6467 Main Street, Williamsville, NY, USA, 14221

Website

https://www.lifestorage.com

Life Storage Inc (which was rebranded from Sovran Self Storage, Inc in 2016) is a fully integrated, real estate investment trust that acquires and manages self-storage properties throughout the United States. The company operates under the brand names Life Storage. Approximately under half of the company's revenue is derived from stores in the states of Texas and Florida. The remainder of sales is distributed across the United States. The company's operations in rental income from customers renting storage space on a month-to-month basis generate a majority of operating revenue. The company also offers storage to both individuals of commercial renters and has special storage units available for vehicles and wine.

Executives

Joseph Saffire	officer: Chief Investment Officer	6467 MAIN STREET, WILLIAMSVILLE NY 14221
Havener Arthur L Jr	director	9825 SUNSET GREENS DRIVE, ST. LOUIS MO 63127
Alexander Gress	officer: CFO	6467 MAIN STREET, C/O LIFE STORAGE, INC., WILLIAMSVILLE NY 14221
Stephen R Rusmisel	director	C/O SOVRAN SELF STORAGE, INC, 6467 MAIN STREET, WILLIAMSVILLE NY 14221
Andrew J Gregoire	officer: CFO	C/O LIFE STORAGE, INC., 6467 MAIN STREET, WILLIAMSVILLE NY 14221
David P. Dodman	officer: COO	C/O LIFE STORAGE, INC, 6467 MAIN STREET, WILLIAMSVILLE NY 14221
Edward F Killeen	officer: EVP Real Estate Management	C/O LIFE STORAGE, INC., 6467 MAIN STREET, WILLIAMSVILLE NY 14221
David L Rogers	officer: CFO	C/O LIFE STORAGE INC, 6467 MAIN STREET, BUFFALO NY 14221
Sue Harnett	director	P.O. BOX 195115, SAN JUAN PR 00919-5115
Mark G Barberio	director	19 WIK STREET, WILLIAMSVILLE NY 14221
Edward J Pettinella	director	C/O HOME PROPERTIES, 850 CLINTON SQUARE, ROCHESTER NY 14604
Charles E Lannon	director	C/O LIFE STORAGE INC, 6467 MAIN STREET, BUFFALO NY 14221
Kenneth F Myszka	director, officer: President, COO	C/O LIFE STORAGE INC, 6467 MAIN STREET, BUFFALO NY 14221
Robert J Attea	director, officer: Chairman of Board, CEO	C/O LIFE STORAGE INC, 6467 MAIN STREET, BUFFALO NY 14221
Dana Hamilton	director	C/O ARCHSTONE-SMITH TRUST, 9200 E. PANORAMA CIRCLE, SUITE 400, ENGLEWOOD CO 80112