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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ 970,050 $ 479,224 $ (103,344)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 350,945 319,742 320,943
Provision for real estate impairment loss 47,281
Loss on extinguishment of debt 23,636 156,707 0
Gain on derecognition of leased properties and dispositions of real estate 939,806 594,861 119,215
Income tax expense (benefit) 3,923 (5,246) 95,437
Other, net (10,658) 14,590 (15,147)
Income tax benefit (3,923) 5,246 (95,437)
Net changes in operating assets and operating liabilities:      
Accounts receivable and other assets, net 27,864 (19,646) (57,881)
Accounts payable, accrued liabilities and other (26,713) (17,554) 12,672
Total adjustments (549,493) (146,268) 379,993
Net cash provided by operating activities 420,557 332,956 276,649
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of real estate and deposits related to purchases of real estate (861,320) (364,055) (4,353)
Capital expenditures (192,404) (174,499) (346,914)
Proceeds from dispositions of real estate 1,209,241 915,926 159,422
Purchases of corporate assets 13,940 (5,171) (17,328)
Proceeds from repayment of note receivable 534,127 0 0
Proceeds from investments in debt securities 0 100,852 0
Other investing activities 25,447 5,229 (29,326)
Net cash provided by (used in) investing activities 650,257 478,282 (349,999)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from non-recourse property debt 54,156 643,756
Principal repayments on non-recourse property debt of continuing operations (449,535) (1,492,446) (772,935)
Proceeds from term loans 1,150,000 350,000
Repayment of term loan (350,000) (350,000)
Net borrowings on (repayments of) revolving credit facility 159,205 36,756 (9,400)
Payment of debt extinguishment costs (22,680) (149,725) (14,831)
Cash distributed to Aimco in Separation (257,296)
Proceeds from issuance of unsecured notes payable 400,000
Proceeds from the issuance of Common Stock 342,470
Repurchases of common partnership units held by GP and Special Limited Partner (316,710) 0 (10,004)
Payment of dividends to holders of Common Stock (277,551) (269,601) (304,992)
Payment of distributions to noncontrolling interests (35,472) (28,170) (18,455)
Redemptions of noncontrolling interests in the AIR Operating Partnership (13,394) (17,905) (20,259)
Contribution from noncontrolling interests in consolidated real estate partnerships 9,206 7,458 456,675
Other financing activities (19,395) (20,794) (24,103)
Net cash used in financing activities (862,170) (791,957) (26,037)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 208,644 19,281 (99,387)
NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH OF DISCONTINUED OPERATIONS 6,326
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH OF CONTINUING OPERATIONS 208,644 19,281 (93,061)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 92,761 73,480 166,541
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD 301,405 92,761 73,480
SUPPLEMENTAL CASH FLOW INFORMATION:      
Interest paid, net of amounts capitalized 114,340 130,202 145,000
Cash paid for income taxes 5,528 6,763 12,168
Non-cash transactions associated with the acquisition or disposition of real estate:      
Non-recourse property debt assumed in connection with the acquisition of real estate 0 259,248 0
Real estate tax liability assumed in connection with the acquisition of real estate 802 0 0
Issuance of common OP Units in connection with acquisition of real estate 0 121,557 0
Other non-cash transactions:      
Assets, net of liabilities distributed to Aimco 0 0 559,753
Other liabilities incurred in the Separation, net 0 7,541 5,506
Recognition of right-of-use lease assets 80,651 0 9,667
Recognition of lease liabilities 80,651 0 9,667
Accrued capital expenditures (at end of period) 10,701 9,732 31,323
Accrued dividends on TSR restricted stock and LTIP awards (at end of period) 1,131 1,070 1,327
Apartment Income REIT, L.P [Member]      
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) 970,050 479,224 (103,344)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 350,945 319,742 320,943
Provision for real estate impairment loss 0 0 47,281
Loss on extinguishment of debt 23,636 156,707 0
Gain on derecognition of leased properties and dispositions of real estate (939,806) (594,861) (119,215)
Income tax expense (benefit) 3,923 (5,246) 95,437
Other, net 10,658 14,590 (15,147)
Income tax benefit (3,923) 5,246 (95,437)
Net changes in operating assets and operating liabilities:      
Accounts receivable and other assets, net 27,864 (19,646) (57,881)
Accounts payable, accrued liabilities and other (26,713) (17,554) 12,672
Total adjustments (549,493) (146,268) 379,993
Net cash provided by operating activities 420,557 332,956 276,649
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of real estate and deposits related to purchases of real estate (861,320) (364,055) (4,353)
Capital expenditures (192,404) (174,499) (346,914)
Proceeds from dispositions of real estate 1,209,241 915,926 159,422
Purchases of corporate assets (13,940) (5,171) (17,328)
Proceeds from repayment of note receivable 534,127
Proceeds from investments in debt securities 100,852
Other investing activities (25,447) (5,229) (29,326)
Net cash provided by (used in) investing activities 650,257 478,282 (349,999)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from non-recourse property debt 54,156 643,756
Principal repayments on non-recourse property debt of continuing operations (449,535) (1,492,446) (772,935)
Proceeds from term loans 1,150,000 350,000
Repayment of term loan (350,000) (350,000)
Net borrowings on (repayments of) revolving credit facility 159,205 36,756 (9,400)
Payment of debt extinguishment costs (22,680) (149,725) (14,831)
Cash distributed to Aimco in Separation (257,296)
Proceeds from issuance of unsecured notes payable 400,000
Proceeds from the issuance of Common Stock 342,470
Repurchases of common partnership units held by GP and Special Limited Partner (316,710) (10,004)
Payment of distributions General Partner and Special Limited Parter (277,551) (269,601) (304,992)
Payment of distributions to Limited Partners (17,849) (15,257) (16,667)
Payment of distributions to noncontrolling interests (17,623) (12,913) (1,788)
Redemption of common and preferred units (13,394) (17,905) (20,259)
Contribution from noncontrolling interests in consolidated real estate partnerships 9,206 7,458 456,675
Other financing activities (19,395) (20,794) (24,103)
Net cash used in financing activities (862,170) (791,957) (26,037)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 208,644 19,281 (99,387)
NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH OF DISCONTINUED OPERATIONS 6,326
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH OF CONTINUING OPERATIONS 208,644 19,281 (93,061)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 92,761 73,480 166,541
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD 301,405 92,761 73,480
SUPPLEMENTAL CASH FLOW INFORMATION:      
Interest paid, net of amounts capitalized 114,340 130,202 145,000
Cash paid for income taxes 5,528 6,763 12,168
Non-cash transactions associated with the acquisition or disposition of real estate:      
Non-recourse property debt assumed in connection with the acquisition of real estate 0 259,248 0
Real estate tax liability assumed in connection with the acquisition of real estate 802 0 0
Issuance of common OP Units in connection with acquisition of real estate 0 121,557 0
Other non-cash transactions:      
Assets, net of liabilities distributed to Aimco 0 0 559,753
Other liabilities incurred in the Separation, net 0 7,541 5,506
Recognition of right-of-use lease assets 80,651 0 9,667
Recognition of lease liabilities 80,651 0 9,667
Accrued capital expenditures (at end of period) 10,701 9,732 31,323
Accrued dividends on TSR restricted stock and LTIP awards (at end of period) 1,131 1,070 1,327
Discontinued Operations [Member]      
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Income tax expense (benefit) (7,939)
Depreciation and amortization 72,729
Income tax benefit 7,939
Other non-cash adjustments, net 819
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of real estate and deposits related to purchases of real estate 0 0 (92,485)
Capital expenditures 0 0 (19,015)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Principal repayments on non-recourse property debt of continuing operations (44,193)
Discontinued Operations [Member] | Apartment Income REIT, L.P [Member]      
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Income tax expense (benefit) (7,939)
Depreciation and amortization 72,729
Income tax benefit 7,939
Other non-cash adjustments, net 819
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of real estate and deposits related to purchases of real estate (92,485)
Capital expenditures (19,015)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Principal repayments on non-recourse property debt of continuing operations $ (44,193)