XML 20 R7.htm IDEA: XBRL DOCUMENT v3.22.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 613,043 $ 69,428
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 163,205 151,071
Loss on extinguishment of debt 23,636 38,160
Gain on derecognition of leased properties and dispositions of real estate (587,609) (87,385)
Income tax expense 920 1,045
Other, net 2,939 9,314
Net changes in operating assets and operating liabilities (14,638) (87,836)
Net cash provided by operating activities 201,496 93,797
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of real estate and deposits related to purchases of real estate (472,317) (225,526)
Capital expenditures (90,599) (76,469)
Proceeds from dispositions of real asset 759,344 6,230
Proceeds from dispositions of unconsolidated real estate partnerships 7,244
Purchases of corporate assets (6,135) (4,509)
Proceeds from repayment of note receivable 387,088
Proceeds from investments in debt securities 100,852
Other investing activities (9,958) (61)
Net cash provided by (used in) investing activities 574,667 (199,483)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal repayments on non-recourse property debt (353,770) (566,523)
Proceeds from term loans 800,000
Repayment of term loan (350,000) (350,000)
Net (repayments of) borrowings on revolving credit facility (154,795) 81,600
Payment of debt issuance costs (3,990) (9,885)
Payment of debt extinguishment costs (22,723) (36,198)
Proceeds from the issuance of unsecured notes payable 400,000
Proceeds from Issuance of Common Stock 342,163
Repurchases of Common Stock (125,000)
Payment of dividends to holders of Common Stock (141,104) (131,654)
Payment of distributions to preferred noncontrolling interests (3,221) (3,209)
Payment of distributions to common noncontrolling interests (16,306) (12,092)
Redemptions of noncontrolling interests in the AIR Operating Partnership (4,269) (3,622)
Contributions from noncontrolling interests in consolidated real estate partnerships 7,808 1,998
Other financing activities (663) 329
Net cash used in financing activities (768,033) 112,907
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 8,130 7,221
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 92,761 73,480
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD 100,891 80,701
Apartment Income REIT, L.P [Member]    
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income 613,043 69,428
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 163,205 151,071
Loss on extinguishment of debt 23,636 38,160
Gain on derecognition of leased properties and dispositions of real estate (587,609) (87,385)
Income tax expense 920 1,045
Other, net 2,939 9,314
Net changes in operating assets and operating liabilities (14,638) (87,836)
Net cash provided by operating activities 201,496 93,797
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of real estate and deposits related to purchases of real estate (472,317) (225,526)
Capital expenditures (90,599) (76,469)
Proceeds from dispositions of real asset 759,344 6,230
Proceeds from dispositions of unconsolidated real estate partnerships 7,244
Purchases of corporate assets (6,135) (4,509)
Proceeds from repayment of note receivable 387,088
Proceeds from investments in debt securities 100,852
Other investing activities (9,958) (61)
Net cash provided by (used in) investing activities 574,667 (199,483)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal repayments on non-recourse property debt (353,770) (566,523)
Proceeds from term loans 800,000
Repayment of term loan (350,000) (350,000)
Net (repayments of) borrowings on revolving credit facility (154,795) 81,600
Payment of debt issuance costs (3,990) (9,885)
Payment of debt extinguishment costs (22,723) (36,198)
Proceeds from the issuance of unsecured notes payable 400,000
Proceeds from issuance of common partnership units to AIR, net 342,163
Repurchases of Common Stock (125,000)
Payment of distributions to preferred units (3,221) (3,300)
Payment of distributions General Partner and Special Limited Partner (141,104) (131,654)
Payment of distributions to Limited Partners (8,970) (7,258)
Payment of distributions to noncontrolling interests (7,336) (4,836)
Redemption of common and preferred units (4,269) (3,622)
Contributions from noncontrolling interests in consolidated real estate partnerships 7,808 1,998
Other financing activities (663) 422
Net cash used in financing activities (768,033) 112,907
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 8,130 7,221
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 92,761 73,480
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD $ 100,891 $ 80,701