REPORTABLE SEGMENTS (UNITED DOMINION REALTY, L.P.) (Tables)

3 Months Ended

Mar. 31, 2020

Entity information

Summary of rental income and NOI for the Operating Partnerships reportable segments and reconciliation of NOI to Net income/(loss)

The following table details rental income and NOI for UDR’s reportable segments for the three months ended March 31, 2020 and 2019, and reconciles NOI to Net income/(loss) attributable to UDR, Inc. on the Consolidated Statements of Operations (dollars in thousands):

	March 31, (a)
	2020		2019
Reportable apartment home segment lease revenue
Same-Store Communities (a)
West Region	$	102,616	$	98,633
Mid-Atlantic Region		56,085		54,300
Northeast Region		30,942		30,193
Southeast Region		30,677		29,531
Southwest Region		16,626		16,077
Non-Mature Communities/Other		74,676		30,169
Total segment and consolidated lease revenue	$	311,622	$	258,903
Reportable apartment home segment other revenue
Same-Store Communities (a)
West Region	$	2,774	$	3,076
Mid-Atlantic Region		1,573		2,002
Northeast Region		501		629
Southeast Region		1,429		1,790
Southwest Region		590		763
Non-Mature Communities/Other		1,604		759
Total segment and consolidated other revenue	$	8,471	$	9,019
Total reportable apartment home segment rental income
Same-Store Communities (a)
West Region	$	105,390	$	101,709
Mid-Atlantic Region		57,658		56,302
Northeast Region		31,443		30,822
Southeast Region		32,106		31,321
Southwest Region		17,216		16,840
Non-Mature Communities/Other		76,280		30,928
Total segment and consolidated rental income	$	320,093	$	267,922
Reportable apartment home segment NOI
Same-Store Communities (a)
West Region	$	79,823	$	76,984
Mid-Atlantic Region		40,377		39,179
Northeast Region		20,614		20,977
Southeast Region		22,617		22,010
Southwest Region		11,056		10,328
Non-Mature Communities/Other		50,978		20,205
Total segment and consolidated NOI		225,465		189,683
Reconciling items:
Joint venture management and other fees		1,388		2,751
Property management		(9,203)		(7,703)
Other operating expenses		(4,966)		(5,646)
Real estate depreciation and amortization		(155,476)		(112,468)
General and administrative		(14,978)		(12,467)
Casualty-related (charges)/recoveries, net		(1,251)		—
Other depreciation and amortization		(2,025)		(1,656)
Income/(loss) from unconsolidated entities		3,367		49
Interest expense		(39,317)		(33,542)
Interest income and other income/(expense), net		2,700		9,813
Tax (provision)/benefit, net		(164)		(2,212)
Net (income)/loss attributable to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership		(313)		(2,057)
Net (income)/loss attributable to noncontrolling interests		(6)		(42)
Net income/(loss) attributable to UDR, Inc.	$	5,221	$	24,503

(a) Same-Store Community population consisted of 37,910 apartment homes.

Details of assets of the Operating Partnership's reportable segments

The following table details the assets of UDR’s reportable segments as of March 31, 2020 and December 31, 2019 (dollars in thousands):

	March 31,		December 31,
	2020		2019
Reportable apartment home segment assets:
Same-Store Communities (a):
West Region	$	3,704,480	$	3,696,544
Mid-Atlantic Region		2,356,688		2,350,341
Northeast Region		1,501,767		1,500,597
Southeast Region		810,984		806,830
Southwest Region		603,082		600,350
Non-Mature Communities/Other		3,840,997		3,647,439
Total segment assets		12,817,998		12,602,101
Accumulated depreciation		(4,272,471)		(4,131,353)
Total segment assets — net book value		8,545,527		8,470,748
Reconciling items:
Cash and cash equivalents		980		8,106
Restricted cash		21,949		25,185
Notes receivable, net		151,543		153,650
Investment in and advances to unconsolidated joint ventures, net		588,395		588,262
Operating lease right-of-use assets		203,410		204,225
Other assets		179,301		186,296
Total consolidated assets	$	9,691,105	$	9,636,472

(a) Same-Store Community population consisted of 37,910 apartment homes.

United Dominion Realty L.P.

Entity information

Summary of rental income and NOI for the Operating Partnerships reportable segments and reconciliation of NOI to Net income/(loss)

The following table details rental income and NOI for the Operating Partnership’s reportable segments for the three months ended March 31, 2020 and 2019, and reconciles NOI to Net income/(loss) attributable to OP unitholders on the Consolidated Statements of Operations (dollars in thousands):

	March 31, (b)
	2020		2019
Reportable apartment home segment lease revenue
Same-Store Communities (a)
West Region	$	63,242	$	60,782
Mid-Atlantic Region		15,164		14,810
Northeast Region		8,229		7,972
Southeast Region		12,987		12,462
Southwest Region		1,830		1,924
Non-Mature Communities/Other		7,550		6,726
Total segment and consolidated lease revenue	$	109,002	$	104,676
Reportable apartment home segment other revenue
Same-Store Communities (a)
West Region	$	1,779	$	1,995
Mid-Atlantic Region		431		535
Northeast Region		101		166
Southeast Region		644		775
Southwest Region		71		31
Non-Mature Communities/Other		137		156
Total segment and consolidated other revenue	$	3,163	$	3,658
Total reportable apartment home segment rental income
Same-Store Communities (a)
West Region	$	65,021	$	62,777
Mid-Atlantic Region		15,595		15,345
Northeast Region		8,330		8,138
Southeast Region		13,631		13,237
Southwest Region		1,901		1,955
Non-Mature Communities/Other		7,687		6,882
Total segment and consolidated rental income	$	112,165	$	108,334
Reportable apartment home segment NOI
Same-Store Communities (a)
West Region	$	49,493	$	47,797
Mid-Atlantic Region		10,796		10,524
Northeast Region		5,909		6,205
Southeast Region		9,550		9,257
Southwest Region		1,391		1,337
Non-Mature Communities/Other		4,416		4,019
Total segment and consolidated NOI		81,555		79,139
Reconciling items:
Property management		(3,225)		(2,979)
Other operating expenses		(3,859)		(2,400)
Real estate depreciation and amortization		(35,300)		(34,654)
General and administrative		(5,308)		(4,661)
Casualty-related (charges)/recoveries, net		2		—
Income/(loss) from unconsolidated entities		(1,761)		(2,740)
Interest expense		(7,464)		(7,371)
Net (income)/loss attributable to noncontrolling interests		(522)		(388)
Net income/(loss) attributable to OP unitholders	$	24,118	$	23,946

(a) Same-Store Community population consisted of 15,941 apartment homes.

Details of assets of the Operating Partnership's reportable segments

The following table details the assets of the Operating Partnership’s reportable segments as of March 31, 2020 and December 31, 2019 (dollars in thousands):

	March 31,		December 31,
	2020		2019
Reportable apartment home segment assets
Same-Store Communities (a):
West Region	$	2,017,542	$	2,011,495
Mid-Atlantic Region		671,170		669,417
Northeast Region		408,954		408,703
Southeast Region		354,058		352,790
Southwest Region		144,640		144,210
Non-Mature Communities/Other		290,249		288,545
Total segment assets		3,886,613		3,875,160
Accumulated depreciation		(1,831,814)		(1,796,568)
Total segment assets - net book value		2,054,799		2,078,592
Reconciling items:
Cash and cash equivalents		40		24
Restricted cash		14,121		13,998
Investment in unconsolidated entities		69,617		76,222
Operating lease right-of-use assets		204,723		205,668
Other assets		24,042		24,241
Total consolidated assets	$	2,367,342	$	2,398,745

(a) Same-Store Community population consisted of 15,941 apartment homes.