XML 87 R4.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues      
Rental revenues $ 151,339 $ 116,958 $ 108,737
Total revenues 257,198 193,317 302,771
Expenses      
Rental expenses 34,332    
Rental expenses   27,222 25,422
Real estate taxes 14,961 11,383 10,528
General contracting and real estate services expenses 101,538 73,628 186,590
Depreciation and amortization 54,564 39,913 37,321
Amortization of right-of-use assets - finance leases 377    
General and administrative expenses 12,392 11,431 10,435
Acquisition, development and other pursuit costs 844 352 648
Impairment charges 252 1,619 110
Total expenses 219,260 165,548 271,054
Gain on real estate dispositions 4,699 4,254 8,087
Operating income 42,637 32,023 39,804
Interest income 23,215 10,729 7,077
Interest expense on indebtedness (30,776) (19,087) (17,439)
Interest expense on finance leases (568) 0 0
Equity in income of unconsolidated real estate entities 273 372 0
Change in fair value of interest rate derivatives (3,599) (951) 1,127
Other income (expense), net 585 377 81
Income before taxes 31,767 23,463 30,650
Income tax benefit (provision) 491 29 (725)
Net income 32,258 23,492 29,925
Net income attributable to noncontrolling interests:      
Investment entities (213) 0 0
Operating Partnership (7,992) (6,289) (8,878)
Net income attributable to Armada Hoffler Properties, Inc. 24,053 17,203 21,047
Preferred stock dividends (2,455) 0 0
Net income attributable to common stockholders $ 21,598 $ 17,203 $ 21,047
Net income attributable to stockholders per share (basic and diluted) (in dollars per share) $ 0.41 $ 0.36 $ 0.50
Weighted-average common shares outstanding (basic and diluted) (in shares) 53,119 47,512 42,423
Comprehensive income:      
Net income $ 32,258 $ 23,492 $ 29,925
Unrealized cash flow hedge losses (4,504) (1,894) 0
Realized cash flow hedge losses reclassified to net income 501 169 0
Comprehensive income 28,255 21,767 29,925
Comprehensive income attributable to Armada Hoffler Properties, Inc. 21,096 15,920 21,047
General contracting and real estate services revenues      
Revenues      
General contracting and real estate services revenues 105,859 76,359 194,034
Noncontrolling interests in investment entities      
Expenses      
Net income 213    
Comprehensive income:      
Net income 213    
Operating Partnership (213) 0 0
Noncontrolling interests in Operating Partnership      
Expenses      
Net income 7,992 6,289 8,878
Comprehensive income:      
Net income 7,992 6,289 8,878
Unrealized cash flow hedge losses (1,183) (484)  
Realized cash flow hedge losses reclassified to net income 137 42  
Operating Partnership $ (6,946) $ (5,847) $ (8,878)