XML 17 R4.htm IDEA: XBRL DOCUMENT v3.22.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
REVENUES        
Total revenues $ 183,500 $ 178,333 $ 364,978 $ 354,746
EXPENSES        
Property operating expenses 63,787 64,758 127,023 129,375
Depreciation and amortization 78,656 75,791 163,205 151,071
General and administrative expenses 5,333 5,221 11,930 9,635
Other (income) expenses, net (3,076) 2,515 942 5,391
Total operating expenses 144,700 148,285 303,100 295,472
Interest income 25,652 15,684 39,133 31,656
Interest expense (26,027) (33,657) (48,134) (69,682)
Loss on extinguishment of debt (37,150) (23,636) (38,160)
Gain on dispositions of real estate and derecognition of leased properties 175,606 3,353 587,609 87,385
Loss from unconsolidated real estate partnerships (873) (2,887)
Income (loss) before income tax (expense) benefit 213,158 (21,722) 613,963 70,473
Income tax (expense) benefit     (920) (1,045)
Net income (loss) 211,659 (19,687) 613,043 69,428
Noncontrolling interests:        
Net (income) loss attributable to noncontrolling interests in consolidated real estate partnerships (381) 2,397 183 2,632
Net income attributable to preferred noncontrolling interests in AIR Operating Partnership (1,602) (1,603) (3,205) (3,207)
Net (income) loss attributable to common noncontrolling interests in AIR Operating Partnership (12,749) 945 (36,916) (3,491)
Net (income) loss attributable to noncontrolling interests (14,732) 1,739 (39,938) (4,066)
Net income (loss) attributable to AIR 196,927 (17,948) 573,105 65,362
Net income attributable to AIR preferred stockholders (43) (43) (85) (93)
Net income attributable to participating securities (162) (39) (417) (103)
Net income (loss) attributable to AIR common stockholders $ 196,722 $ (18,030) $ 572,603 $ 65,166
Earnings (loss) per common share - diluted        
Net income attributable to AIR common stockholders per share - basic $ 1.26 $ (0.12) $ 3.66 $ 0.43
Net income attributable to AIR common stockholders per share - diluted $ 1.26 $ (0.12) $ 3.66 $ 0.43
Weighted average common shares/units outstanding - basic 155,927 154,608 156,327 151,609
Weighted average common shares/units outstanding - diluted 156,136 154,608 156,607 152,083
Continuing Operations [Member]        
EXPENSES        
Income tax (expense) benefit $ (1,499) $ 2,035 $ (920) $ (1,045)
Rental And Other Property Revenues [Member]        
REVENUES        
Total revenues 181,012 176,721 360,273 351,451
Other Revenues [Member]        
REVENUES        
Total revenues 2,488 1,612 4,705 3,295
Apartment Income REIT, L.P. [Member]        
REVENUES        
Total revenues 183,500 178,333 364,978 354,746
EXPENSES        
Property operating expenses 63,787 64,758 127,023 129,375
Depreciation and amortization 78,656 75,791 163,205 151,071
General and administrative expenses 5,333 5,221 11,930 9,635
Other (income) expenses, net (3,076) 2,515 942 5,391
Total operating expenses 144,700 148,285 303,100 295,472
Interest income 25,652 15,684 39,133 31,656
Interest expense (26,027) (33,657) (48,134) (69,682)
Loss on extinguishment of debt (37,150) (23,636) (38,160)
Gain on dispositions of real estate and derecognition of leased properties 175,606 3,353 587,609 87,385
Loss from unconsolidated real estate partnerships (873) (2,887)
Income (loss) before income tax (expense) benefit 213,158 (21,722) 613,963 70,473
Income tax (expense) benefit     (920) (1,045)
Net income (loss) 211,659 (19,687) 613,043 69,428
Noncontrolling interests:        
Net (income) loss attributable to noncontrolling interests in consolidated real estate partnerships (381) 2,397 183 2,632
Net income attributable to preferred noncontrolling interests in AIR Operating Partnership (1,645) (1,646) (3,290) (3,300)
Net income (loss) attributable to AIR 211,278 (17,290) 613,226 72,060
Net income attributable to participating securities (162) (39) (417) (103)
Net income (loss) attributable to AIR common stockholders $ 209,471 $ (18,975) $ 609,519 $ 68,657
Earnings (loss) per common share - diluted        
Net income attributable to AIR common stockholders per share - basic $ 1.26 $ (0.12) $ 3.66 $ 0.43
Net income attributable to AIR common stockholders per share - diluted $ 1.26 $ (0.12) $ 3.66 $ 0.43
Weighted average common shares/units outstanding - basic 166,023 162,698 166,434 159,701
Weighted average common shares/units outstanding - diluted 166,232 162,698 166,714 160,175
Apartment Income REIT, L.P. [Member] | Continuing Operations [Member]        
EXPENSES        
Income tax (expense) benefit $ (1,499) $ 2,035 $ (920) $ (1,045)
Apartment Income REIT, L.P. [Member] | Rental And Other Property Revenues [Member]        
REVENUES        
Total revenues 181,012 176,721 360,273 351,451
Apartment Income REIT, L.P. [Member] | Other Revenues [Member]        
REVENUES        
Total revenues $ 2,488 $ 1,612 $ 4,705 $ 3,295