XML 20 R5.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues      
Rental revenues $ 238,924 $ 219,294 $ 192,140
Revenue, Product and Service [Extensible List] Real Estate [Member]    
General contracting and real estate services revenues $ 413,131 234,859 91,936
Interest income 15,103 16,978 18,457
Total revenues 667,158 471,131 302,533
Expenses      
Rental expenses 56,419 50,742 46,494
Real estate taxes 22,442 22,057 21,852
General contracting and real estate services expenses 399,713 227,158 88,100
Depreciation and amortization 96,078 72,974 68,853
Amortization of right-of-use assets - finance leases 1,349 1,110 1,022
General and administrative expenses 18,122 15,691 14,610
Acquisition, development, and other pursuit costs 84 37 112
Impairment charges 102 416 21,378
Total expenses 594,309 390,185 262,421
Gain on real estate dispositions, net 738 53,466 19,040
Operating income 73,587 134,412 59,152
Interest expense (57,810) (39,680) (33,905)
Loss on extinguishment of debt 0 (3,374) (3,810)
Change in fair value of derivatives and other (6,242) 8,698 2,182
Unrealized credit loss (provision) release (574) (626) 792
Other income (expense), net 31 378 302
Income before taxes 8,992 99,808 24,713
Income tax (provision) benefit (1,329) 145 742
Net income 7,663 99,953 25,455
Net (income) loss attributable to noncontrolling interests:      
Investment entities (605) (5,948) 5
Operating Partnership 1,229 (19,258) (3,568)
Net income attributable to Armada Hoffler Properties, Inc. 8,287 74,747 21,892
Preferred stock dividends (11,548) (11,548) (11,548)
Net (loss) income attributable to common stockholders $ (3,261) $ 63,199 $ 10,344
Net income attributable to common stockholders per share (basic) (in dollars per share) $ (0.05) $ 0.94 $ 0.17
Net income attributable to common stockholders per share (diluted) (in dollars per share) $ (0.05) $ 0.94 $ 0.17
Weighted-average common shares outstanding (basic) (in shares) 67,692 67,576 60,647
Weighted-average common shares outstanding (diluted) (in shares) 67,692 67,576 60,647
Comprehensive income:      
Net income $ 7,663 $ 99,953 $ 25,455
Unrealized cash flow hedge gains 6,879 20,165 3,678
Realized cash flow hedge (gains) losses reclassified to net income (20,047) (800) 8,163
Comprehensive income (5,505) 119,318 37,296
Comprehensive (loss) income attributable to Armada Hoffler Properties, Inc. (1,486) 89,460 30,728
Noncontrolling interests in investment entities      
Expenses      
Net income 605 5,948 (5)
Comprehensive income:      
Net income 605 5,948 (5)
Unrealized cash flow hedge gains 315 148  
Realized cash flow hedge (gains) losses reclassified to net income 598 (7)  
Comprehensive (income) loss attributable to noncontrolling interests: (322) (6,103) 5
Noncontrolling interests in Operating Partnership      
Expenses      
Net income (1,229) 19,258 3,568
Comprehensive income:      
Net income (1,229) 19,258 3,568
Unrealized cash flow hedge gains 1,538 4,684 939
Realized cash flow hedge (gains) losses reclassified to net income (4,650) (187) 2,067
Comprehensive (income) loss attributable to noncontrolling interests: $ 4,341 $ (23,755) $ (6,573)