XML 11 R4.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
REVENUES:      
Rental and other property revenues $ 1,074,648 $ 1,049,849 $ 1,047,286
Asset management and tax credit revenues 35,553 49,853 98,830
Total revenues 1,110,201 1,099,702 1,146,116
OPERATING EXPENSES:      
Property operating expenses 489,075 491,285 501,707
Investment management expenses 14,487 15,779 24,784
Depreciation and amortization 413,688 417,558 366,645
Provision for operating real estate impairment losses 65 2,329  
Provision for impairment losses on real estate development assets     91,138
General and administrative expenses 53,365 56,640 80,376
Other expenses, net 10,420 14,898 21,783
Restructuring costs   11,241 22,802
Total operating expenses 981,100 1,009,730 1,109,235
Operating income 129,101 89,972 36,881
Interest income 11,052 9,058 19,644
Provision for losses on notes receivable, net (949) (21,549) (17,577)
Interest expense (305,928) (306,636) (305,559)
Equity in losses of unconsolidated real estate partnerships (23,112) (11,401) (4,736)
Gain on dispositions of unconsolidated real estate and other, net 10,675 21,570 97,403
Loss before income taxes and discontinued operations (179,161) (218,986) (173,944)
Income tax benefit 18,219 18,647 57,051
Loss from continuing operations (160,942) (200,339) (116,893)
Income from discontinued operations, net 71,318 155,539 743,895
Net (loss) income (89,624) (44,800) 627,002
Noncontrolling interests:      
Net loss (income) attributable to noncontrolling interests in consolidated real estate partnerships 13,301 (22,541) (155,727)
Net income attributable to preferred noncontrolling interests in Aimco Operating Partnership (4,964) (6,288) (7,646)
Net loss (income) attributable to common noncontrolling interests in Aimco Operating Partnership 9,559 9,355 (51,622)
Total noncontrolling interests 17,896 (19,474) (214,995)
Net (loss) income attributable to Aimco (71,728) (64,274) 412,007
Net income attributable to Aimco preferred stockholders (53,590) (50,566) (53,708)
Net income attributable to participating securities     (6,985)
Net (loss) income attributable to Aimco common stockholders $ (125,318) $ (114,840) $ 351,314
Earnings (loss) per common share - basic and diluted:      
Loss from continuing operations attributable to Aimco common stockholders $ (1.44) $ (1.77) $ (2.09)
Income from discontinued operations attributable to Aimco common stockholders $ 0.36 $ 0.77 $ 6.05
Net (loss) income attributable to Aimco common stockholders $ (1.08) $ (1.00) $ 3.96
Weighted average common shares outstanding - basic and diluted 116,369 114,301 88,690