XML 32 R4.htm IDEA: XBRL DOCUMENT v3.20.1
Condensed Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenues    
Rental revenues $ 42,289 $ 30,909
General contracting and real estate services revenues 47,268 17,036
Total revenues 89,557 47,945
Expenses    
Rental expenses 9,375 6,725
Real estate taxes 4,333 3,128
General contracting and real estate services expenses 45,550 16,286
Depreciation and amortization 14,279 9,904
Amortization of right-of-use assets - finance leases 147 0
General and administrative expenses 3,793 3,401
Acquisition, development and other pursuit costs 27 400
Impairment charges 158 0
Total expenses 77,662 39,844
Operating income 11,895 8,101
Interest income 7,226 5,319
Interest expense on indebtedness (7,959) (5,886)
Interest expense on finance leases (229) 0
Equity in income of unconsolidated real estate entities 0 273
Change in fair value of interest rate derivatives (1,736) (1,463)
Provision for unrealized credit losses (377) 0
Other income (expense), net 58 60
Income before taxes 8,878 6,404
Income tax benefit 257 110
Net income 9,135 6,514
Net (income) loss attributable to noncontrolling interests:    
Investment entities 92 0
Operating Partnership (2,235) (1,630)
Net income attributable to Armada Hoffler Properties, Inc. 6,992 4,884
Preferred stock dividends (1,067) 0
Net income attributable to common stockholders $ 5,925 $ 4,884
Net income attributable to stockholders per share (basic and diluted) (in dollars per share) $ 0.11 $ 0.10
Weighted-average common shares outstanding (basic and diluted) (in shares) 56,398 50,926
Comprehensive income:    
Net income $ 9,135 $ 6,514
Unrealized cash flow hedge losses (7,489) (1,003)
Realized cash flow hedge losses reclassified to net income 392 72
Comprehensive income 2,038 5,583
Comprehensive income attributable to Armada Hoffler Properties, Inc. 1,839 4,186
Noncontrolling interests in investment entities    
Expenses    
Net income (92)  
Comprehensive income:    
Net income (92)  
Comprehensive (income) loss attributable to noncontrolling interests: 92 0
Noncontrolling interests in Operating Partnership    
Expenses    
Net income 2,235 1,630
Comprehensive income:    
Net income 2,235 1,630
Unrealized cash flow hedge losses (2,051) (251)
Realized cash flow hedge losses reclassified to net income 107 18
Comprehensive (income) loss attributable to noncontrolling interests: $ (291) $ (1,397)