Equity (Tables)

9 Months Ended

Sep. 30, 2020

Stockholders' Equity Note [Abstract]

The following summarizes the changes in equity for the nine months ended September 30, 2020 (dollars in thousands):


	Common stock		Additional paid-in capital		Accumulated earnings less dividends		Accumulated other comprehensive loss		Total AvalonBay stockholder's equity		Noncontrolling interests		Total equity

Balance at December 31, 2019	$	1,406	$	10,736,733	$	282,913	$	(31,503)	$	10,989,549	$	649	$	10,990,198
Net income attributable to common stockholders	—		—		167,971		—		167,971		—		167,971
Loss on cash flow hedges, net	—		—		—		(17,603)		(17,603)		—		(17,603)
Cash flow hedge losses reclassified to earnings	—		—		—		1,949		1,949		—		1,949
Change in redemption value of redeemable noncontrolling interest	—		—		471		—		471		—		471
Noncontrolling interest distribution and income allocation	—		—		—		—		—		(35)		(35)
Dividends declared to common stockholders ($1.59 per share)	—		—		(224,083)		—		(224,083)		—		(224,083)
Issuance of common stock, net of withholdings	1		(12,492)		(1,616)		—		(14,107)		—		(14,107)
Amortization of deferred compensation	—		7,781		—		—		7,781		—		7,781
Balance at March 31, 2020	$	1,407	$	10,732,022	$	225,656	$	(47,157)	$	10,911,928	$	614	$	10,912,542
Net income attributable to common stockholders	—		—		170,828		—		170,828		—		170,828
Loss on cash flow hedges, net	—		—		—		(1,461)		(1,461)		—		(1,461)
Cash flow hedge losses reclassified to earnings	—		—		—		2,301		2,301		—		2,301
Change in redemption value of redeemable noncontrolling interest	—		—		(146)		—		(146)		—		(146)
Noncontrolling interest distribution and income allocation	—		—		—		—		—		1		1
Dividends declared to common stockholders ($1.59 per share)	—		—		(224,172)		—		(224,172)		—		(224,172)
Issuance of common stock, net of withholdings	—		1,050		138		—		1,188		—		1,188
Amortization of deferred compensation	—		9,724		—		—		9,724		—		9,724
Balance at June 30, 2020	$	1,407	$	10,742,796	$	172,304	$	(46,317)	$	10,870,190	$	615	$	10,870,805
Net income attributable to common stockholders	—		—		147,703		—		147,703		—		147,703
Gain on cash flow hedges, net	—		—		—		1,333		1,333		—		1,333
Cash flow hedge losses reclassified to earnings	—		—		—		2,367		2,367		—		2,367
Change in redemption value of redeemable noncontrolling interest	—		—		62		—		62		—		62
Noncontrolling interest distribution and income allocation	—		—		—		—		—		(17)		(17)
Dividends declared to common stockholders ($1.59 per share)	—		—		(222,694)		—		(222,694)		—		(222,694)
Issuance of common stock, net of withholdings	—		105		—		—		105		—		105
Repurchase of common stock, including repurchase costs	(9)		(69,779)		(67,670)		—		(137,458)		—		(137,458)
Amortization of deferred compensation	—		8,036		—		—		8,036		—		8,036
Balance at September 30, 2020	$	1,398	$	10,681,158	$	29,705	$	(42,617)	$	10,669,644	$	598	$	10,670,242

The following summarizes the changes in equity for the nine months ended September 30, 2019 (dollars in thousands):


	Common stock		Additional paid-in capital		Accumulated earnings less dividends		Accumulated other comprehensive loss		Total AvalonBay stockholder's equity		Noncontrolling interests		Total equity

Balance at December 31, 2018	$	1,385	$	10,306,588	$	350,777	$	(26,144)	$	10,632,606	$	—	$	10,632,606
Net income attributable to common stockholders	—		—		170,366		—		170,366		—		170,366
Loss on cash flow hedges, net	—		—		—		(7,231)		(7,231)		—		(7,231)
Cash flow hedge losses reclassified to earnings	—		—		—		1,468		1,468		—		1,468
Change in redemption value of redeemable noncontrolling interest	—		—		(224)		—		(224)		—		(224)
Dividends declared to common stockholders ($1.52 per share)	—		—		(212,166)		—		(212,166)		—		(212,166)
Issuance of common stock, net of withholdings	9		143,202		(1,892)		—		141,319		—		141,319
Amortization of deferred compensation	—		7,861		—		—		7,861		—		7,861
Balance at March 31, 2019	$	1,394	$	10,457,651	$	306,861	$	(31,907)	$	10,733,999	$	—	$	10,733,999
Net income attributable to common stockholders	—		—		168,281		—		168,281		—		168,281
Loss on cash flow hedges, net	—		—		—		(2,888)		(2,888)		—		(2,888)
Cash flow hedge losses reclassified to earnings	—		—		—		1,611		1,611		—		1,611
Change in redemption value of redeemable noncontrolling interest	—		—		(45)		—		(45)		—		(45)
Noncontrolling interests income allocation	—		—		—		—		—		530		530
Dividends declared to common stockholders ($1.52 per share)	—		—		(212,549)		—		(212,549)		—		(212,549)
Issuance of common stock, net of withholdings	3		50,803		—		—		50,806		—		50,806
Amortization of deferred compensation	—		10,785		—		—		10,785		—		10,785
Balance at June 30, 2019	$	1,397	$	10,519,239	$	262,548	$	(33,184)	$	10,750,000	$	530	$	10,750,530
Net income attributable to common stockholders	—		—		279,677		—		279,677		—		279,677
Loss on cash flow hedges, net	—		—		—		(13,644)		(13,644)		—		(13,644)
Cash flow hedge losses reclassified to earnings	—		—		—		1,746		1,746		—		1,746
Change in redemption value of redeemable noncontrolling interest	—		—		(113)		—		(113)		—		(113)
Noncontrolling interests income allocation	—		—		—		—		—		118		118
Dividends declared to common stockholders ($1.52 per share)	—		—		(212,526)		—		(212,526)		—		(212,526)
Issuance of common stock, net of withholdings	—		(454)		(263)		—		(717)		—		(717)
Amortization of deferred compensation	—		10,002		—		—		10,002		—		10,002
Balance at September 30, 2019	$	1,397	$	10,528,787	$	329,323	$	(45,082)	$	10,814,425	$	648	$	10,815,073