XML 60 R7.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ (157,319) $ 92,158 $ (4,980)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 68,834 158,967 84,712
Realized and unrealized (gains) losses on interest rate options (1,119) (48,205) (6,509)
Realized and unrealized (gains) losses on equity investments (700) (20,302) (6,585)
Income tax expense (benefit) (12,752) 17,264 (13,570)
Share-based compensation 9,221 7,471 5,271
Loss on extinguishment of debt, net 938 28,986  
Lease modification income   (206,963)  
Gain on dispositions of real estate (7,984) (175,863)  
Amortization of debt issuance costs and other 2,563 2,787 1,384
Changes in operating assets and operating liabilities:      
Other assets, net 335 1,039 (11,826)
Net cash received from lease incentive   195,789  
Accrued liabilities and other (6,489) (27,556) (3,902)
Total adjustments 207,786 112,074 17,566
Net cash provided by operating activities 50,467 204,232 12,586
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of real estate (4,108) (129,245) (69,601)
Capital expenditures (272,497) (237,523) (177,809)
Proceeds from disposition of real estate 9,254 259,983  
Investment in IQHQ   (14,227) (23,273)
Redemption of IQHQ investment   16,473  
Distributions received from unconsolidated real estate partnerships 4,209    
Investment in unconsolidated real estate partnerships (3,786) (15,668)  
Purchase of treasury bill (53,773)    
Proceeds from treasury bill 54,727    
Other investing activities 5,578 (547) (727)
Net cash used in investing activities (260,396) (120,754) (271,410)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from non-recourse property debt   756,220 59,757
Proceeds from construction loans 174,445 93,206 165,170
Proceeds from sale of participation in Mezzanine Investment 37,500    
Payments of deferred loan costs (229) (15,266) (6,437)
Principal repayments on non-recourse property debt (85,974) (302,428) (24,383)
Principal repayments on construction loans   (138,404)  
Principal repayments on Notes Payable to AIR   (534,127)  
Purchase of interest rate options (712) (5,620) (5,905)
Proceeds from interest rate options 58,906 16,818  
Payments on finance leases (2,694) (26,213) (10,855)
Payments of prepayment premiums   (25,801)  
Common stock repurchased (46,843) (23,492)  
Dividends paid on common stock   (3,043)  
Redemption of redeemable noncontrolling interests   (5,094)  
Distributions to redeemable noncontrolling interests (9,243) (9,365)  
Contributions from noncontrolling interests 272 10,616 212
Distributions to noncontrolling interests (1,291) (1,362) (1,157)
Contributions from redeemable noncontrolling interests 125 122,571 29,440
Redemption of OP Units (1,081) (225) (76)
Redemption of noncontrolling interest in real estate partnership   (7,088)  
Other financing activities (3,751) (197) (1,095)
Net cash provided by (used in) financing activities 119,430 (98,294) 204,671
NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (90,499) (14,816) (54,153)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF YEAR 229,766 244,582 298,735
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF YEAR 139,267 229,766 244,582
Aimco OP L.P. [Member]      
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) (157,319) 92,158 (4,980)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 68,834 158,967 84,712
Realized and unrealized (gains) losses on interest rate options (1,119) (48,205) (6,509)
Realized and unrealized (gains) losses on equity investments (700) (20,302) (6,585)
Income tax expense (benefit) (12,752) 17,264 (13,570)
Share-based compensation 9,221 7,471 5,271
Loss on extinguishment of debt, net 938 28,986  
Lease modification income   (206,963)  
Gain on dispositions of real estate (7,984) (175,863)  
Amortization of debt issuance costs and other 2,563 2,787 1,384
Changes in operating assets and operating liabilities:      
Other assets, net 335 1,039 (11,826)
Net cash received from lease incentive   195,789  
Accrued liabilities and other (6,489) (27,556) (3,902)
Total adjustments 207,786 112,074 17,566
Net cash provided by operating activities 50,467 204,232 12,586
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of real estate (4,108) (129,245) (69,601)
Capital expenditures (272,497) (237,523) (177,809)
Proceeds from disposition of real estate 9,254 259,983  
Investment in IQHQ   (14,227) (23,273)
Redemption of IQHQ investment   16,473  
Distributions received from unconsolidated real estate partnerships 4,209    
Investment in unconsolidated real estate partnerships (3,786) (15,668)  
Purchase of treasury bill (53,773)    
Proceeds from treasury bill 54,727    
Other investing activities 5,578 (547) (727)
Net cash used in investing activities (260,396) (120,754) (271,410)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from non-recourse property debt   756,220 59,757
Proceeds from construction loans 174,445 93,206 165,170
Payments of deferred loan costs (229) (15,266) (6,437)
Principal repayments on non-recourse property debt (85,974) (302,428) (24,383)
Principal repayments on construction loans   (138,404)  
Principal repayments on Notes Payable to AIR   (534,127)  
Purchase of interest rate options (712) (5,620) (5,905)
Proceeds from interest rate options 58,906 16,818  
Payments on finance leases (2,694) (26,213) (10,855)
Payments of prepayment premiums   (25,801)  
Common stock repurchased (46,843) (23,492)  
Dividends paid on common stock   (3,043)  
Redemption of redeemable noncontrolling interests   (5,094)  
Distributions to redeemable noncontrolling interests (9,243) (9,365)  
Contributions from noncontrolling interests 272 10,616 212
Distributions to noncontrolling interests (1,291) (1,362) (1,157)
Contributions from redeemable noncontrolling interests 125 122,571 29,440
Redemption of OP Units (1,081) (225) (76)
Redemption of noncontrolling interest in real estate partnership   (7,088)  
Other financing activities (3,751) (197) (1,095)
Net cash provided by (used in) financing activities 119,430 (98,294) 204,671
NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (90,499) (14,816) (54,153)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF YEAR 229,766 244,582 298,735
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF YEAR 139,267 229,766 244,582
Unconsolidated Real Estate Partnerships [Member]      
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Income from unconsolidated real estate partnerships (875) (579) (973)
Unconsolidated Real Estate Partnerships [Member] | Aimco OP L.P. [Member]      
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Income from unconsolidated real estate partnerships (875) (579) (973)
Mezzanine Investment [Member]      
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Income from unconsolidated real estate partnerships 155,814 179,239 (30,436)
Mezzanine Investment [Member] | Aimco OP L.P. [Member]      
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Income from unconsolidated real estate partnerships 155,814 $ 179,239 $ (30,436)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from sale of participation in Mezzanine Investment $ 37,500