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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Total revenues $ 185,547 $ 217,371 $ 434,951 $ 459,502
Operating expenses (income):        
Third-party development and management services 4,977 4,513 11,184 8,699
General and administrative 9,767 8,115 19,925 15,430
Depreciation and amortization 66,441 68,815 132,610 137,570
Ground/facility leases 2,893 3,236 6,962 6,785
Loss (gain) from disposition of real estate 0 282 (48,525) 282
Provision for impairment 0 0 0 3,201
Total operating expenses 173,035 179,530 306,953 362,662
Operating income 12,512 37,841 127,998 96,840
Nonoperating income (expenses):        
Interest income 870 969 1,721 1,895
Interest expense (27,168) (27,068) (54,951) (54,129)
Amortization of deferred financing costs (1,255) (1,218) (2,542) (2,350)
Loss from early extinguishment of debt 0 0 (4,827) 0
Total nonoperating expenses (27,553) (27,317) (60,599) (54,584)
(Loss) income before income taxes (15,041) 10,524 67,399 42,256
Income tax provision (381) (314) (760) (678)
Net (loss) income (15,422) 10,210 66,639 41,578
Net loss (income) attributable to noncontrolling interests 2,078 176 872 (1,552)
Net (loss) income attributable to ACC, Inc. and Subsidiaries common stockholders (13,344) 10,386 67,511 40,026
Other comprehensive income (loss)        
Change in fair value of interest rate swaps and other 282 (8,593) (9,519) (14,387)
Comprehensive (loss) income $ (13,062) $ 1,793 $ 57,992 $ 25,639
Net (loss) income per share attributable to ACC, Inc. and Subsidiaries common shareholders        
Basic and diluted (in dollars per share) $ (0.10) $ 0.07 $ 0.48 $ 0.28
Weighted-average common shares outstanding:        
Basic (in shares) 137,613,560 137,268,696 137,545,365 137,185,576
Diluted (in shares) 137,613,560 138,243,388 138,652,106 138,198,134
Owned properties        
Revenues:        
Revenues $ 177,186 $ 203,156 $ 409,277 $ 427,575
Operating expenses (income):        
Operating expenses 85,749 90,763 178,223 182,932
On-campus participating properties        
Revenues:        
Revenues 4,101 6,396 14,810 17,844
Operating expenses (income):        
Operating expenses 3,208 3,806 6,574 7,763
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP LP        
Revenues:        
Total revenues 185,547 217,371 434,951 459,502
Operating expenses (income):        
Third-party development and management services 4,977 4,513 11,184 8,699
General and administrative 9,767 8,115 19,925 15,430
Depreciation and amortization 66,441 68,815 132,610 137,570
Ground/facility leases 2,893 3,236 6,962 6,785
Loss (gain) from disposition of real estate 0 282 (48,525) 282
Provision for impairment 0 0 0 3,201
Total operating expenses 173,035 179,530 306,953 362,662
Operating income 12,512 37,841 127,998 96,840
Nonoperating income (expenses):        
Interest income 870 969 1,721 1,895
Interest expense (27,168) (27,068) (54,951) (54,129)
Amortization of deferred financing costs (1,255) (1,218) (2,542) (2,350)
Loss from early extinguishment of debt 0 0 (4,827) 0
Total nonoperating expenses (27,553) (27,317) (60,599) (54,584)
(Loss) income before income taxes (15,041) 10,524 67,399 42,256
Income tax provision (381) (314) (760) (678)
Net (loss) income (15,422) 10,210 66,639 41,578
Net (loss) income attributable to ACC, Inc. and Subsidiaries common stockholders (13,376) 10,440 67,769 40,240
Series A preferred unit distributions (14) (9) (28) (40)
Net (loss) income attributable to common unitholders (13,390) 10,431 67,741 40,200
Other comprehensive income (loss)        
Change in fair value of interest rate swaps and other 282 (8,593) (9,519) (14,387)
Comprehensive (loss) income $ (13,108) $ 1,838 $ 58,222 $ 25,813
Net (loss) income per share attributable to ACC, Inc. and Subsidiaries common shareholders        
Basic and diluted (in dollars per share)     $ 0.48 $ 0.28
Net (loss) income per unit attributable to common unitholders        
Basic and diluted (in dollars per share) $ (0.10) $ 0.07 $ 0.48 $ 0.28
Weighted-average common units outstanding        
Basic (in units) 138,082,035 137,863,484 138,013,840 137,780,364
Diluted (in units) 138,082,035 138,838,176 139,120,581 138,792,922
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP LP | Owned properties        
Revenues:        
Revenues $ 177,186 $ 203,156 $ 409,277 $ 427,575
Operating expenses (income):        
Operating expenses 85,749 90,763 178,223 182,932
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP LP | On-campus participating properties        
Revenues:        
Revenues 4,101 6,396 14,810 17,844
Operating expenses (income):        
Operating expenses 3,208 3,806 6,574 7,763
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP LP | Noncontrolling interests – partially owned properties        
Nonoperating income (expenses):        
Net loss (income) attributable to noncontrolling interests 2,046 230 1,130 (1,338)
Third-party development services        
Revenues:        
Contract with customer, revenue 1,290 3,607 3,345 6,778
Third-party development services | AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP LP        
Revenues:        
Contract with customer, revenue 1,290 3,607 3,345 6,778
Third-party management services        
Revenues:        
Contract with customer, revenue 2,668 3,465 6,497 5,776
Third-party management services | AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP LP        
Revenues:        
Contract with customer, revenue 2,668 3,465 6,497 5,776
Resident services        
Revenues:        
Contract with customer, revenue 302 747 1,022 1,529
Resident services | AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP LP        
Revenues:        
Contract with customer, revenue $ 302 $ 747 $ 1,022 $ 1,529