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Condensed Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
REVENUES:        
Rental and other property revenues $ 251,853 [1] $ 244,374 [1] $ 499,700 [1] $ 488,279 [1]
Tax credit and asset management revenues 7,809 8,914 15,061 16,985
Total revenues 259,662 253,288 514,761 505,264
OPERATING EXPENSES:        
Property operating expenses 101,717 [1] 99,807 [1] 203,420 [1] 198,418 [1]
Investment management expenses 1,697 3,240 3,130 [1] 6,628
Depreciation and amortization 78,345 [1] 87,229 [1] 158,618 173,795 [1]
Provision for real estate impairment losses 0 2,275 0 8,349 [1]
General and administrative expenses 11,153 13,556 22,932 25,181
Other expense (income), net 2,226 (957) 4,436 4,772
Total operating expenses 195,138 205,150 392,536 417,143
Operating income 64,524 48,138 122,225 88,121
Interest income, net 2,651 2,397 9,072 4,854
Interest expense (61,821) (60,322) (124,267) (125,130)
Equity in income (losses) of unconsolidated real estate partnerships 104 (2,242) 628 (3,005)
(Loss) gain on dispositions and other, net (1,154) 4,314 (2,664) 4,602
Income (loss) before income taxes and discontinued operations 4,304 (7,715) 4,994 (30,558)
Income tax (expense) benefit (116) 234 (163) 460
Income (loss) from continuing operations 4,188 (7,481) 4,831 (30,098)
Income from discontinued operations, net 2,791 41,612 4,981 74,876
Net income 6,979 34,131 9,812 44,778
Noncontrolling interests:        
Net loss (income) attributable to noncontrolling interests in consolidated real estate partnerships 6,150 (9,665) 11,112 (17,430)
Net income attributable to preferred noncontrolling interests in Aimco Operating Partnership (1,606) (1,611) (3,212) (3,281)
Net (income) loss attributable to common noncontrolling interests in Aimco Operating Partnership (575) (55) (872) 682
Net loss (income) attributable to noncontrolling interests 3,969 (11,331) 7,028 (20,029)
Net income attributable to the company 10,948 22,800 16,840 24,749
Net income attributable to the company's preferred equityholders (701) (22,182) (1,403) (34,621)
Net income attributable to participating securities (140) (95) (280) (214)
Net income (loss) attributable to the company's common equityholders 10,107 523 15,157 (10,086)
Earnings (loss) attributable to the company's common equityholders - basic and diluted (Note 9):        
Income (loss) from continuing operations attributable to the company's common equityholders (In dollars per share/unit) $ 0.02 $ (0.26) $ 0.01 $ (0.56)
Income from discontinued operations attributable to the company's common equityholders (In dollars per share/unit) $ 0.05 $ 0.26 $ 0.09 $ 0.48
Net income (loss) attributable to the company's common equityholders (In dollars per share/unit) $ 0.07 $ 0.00 $ 0.10 $ (0.08)
Weighted average common shares/units outstanding - basic 145,321 127,395 145,245 123,960
Weighted average common shares/units outstanding - diluted 145,674 127,395 145,532 123,960
Dividends declared per common share/unit (In dollars per share/unit) $ 0.24 $ 0.18 $ 0.48 $ 0.36
AIMCO PROPERTIES, L.P
       
REVENUES:        
Rental and other property revenues 251,853 244,374 499,700 488,279
Tax credit and asset management revenues 7,809 8,914 15,061 16,985
Total revenues 259,662 253,288 514,761 505,264
OPERATING EXPENSES:        
Property operating expenses 101,717 99,807 203,420 198,418
Investment management expenses 1,697 3,240 3,130 6,628
Depreciation and amortization 78,345 87,229 158,618 173,795
Provision for real estate impairment losses 0 2,275 0 8,349
General and administrative expenses 11,153 13,556 22,932 25,181
Other expense (income), net 2,226 (957) 4,436 4,772
Total operating expenses 195,138 205,150 392,536 417,143
Operating income 64,524 48,138 122,225 88,121
Interest income, net 2,651 2,397 9,072 4,854
Interest expense (61,821) (60,322) (124,267) (125,130)
Equity in income (losses) of unconsolidated real estate partnerships 104 (2,242) 628 (3,005)
(Loss) gain on dispositions and other, net (1,154) 4,314 (2,664) 4,602
Income (loss) before income taxes and discontinued operations 4,304 (7,715) 4,994 (30,558)
Income tax (expense) benefit (116) 234 (163) 460
Income (loss) from continuing operations 4,188 (7,481) 4,831 (30,098)
Income from discontinued operations, net 2,791 41,612 4,981 74,876
Net income 6,979 34,131 9,812 44,778
Noncontrolling interests:        
Net loss (income) attributable to noncontrolling interests in consolidated real estate partnerships 6,150 (9,665) 11,112 (17,430)
Net loss (income) attributable to noncontrolling interests 6,150 (9,665) 11,112 (17,430)
Net income attributable to the company 13,129 24,466 20,924 27,348
Net income attributable to the company's preferred equityholders (2,307) (23,793) (4,615) (37,902)
Net income attributable to participating securities (140) (95) (280) (214)
Net income (loss) attributable to the company's common equityholders $ 10,682 $ 578 $ 16,029 $ (10,768)
Earnings (loss) attributable to the company's common equityholders - basic and diluted (Note 9):        
Income (loss) from continuing operations attributable to the company's common equityholders (In dollars per share/unit) $ 0.02 $ (0.26) $ 0.01 $ (0.56)
Income from discontinued operations attributable to the company's common equityholders (In dollars per share/unit) $ 0.05 $ 0.26 $ 0.09 $ 0.48
Net income (loss) attributable to the company's common equityholders (In dollars per share/unit) $ 0.07 $ 0.00 $ 0.10 $ (0.08)
Weighted average common shares/units outstanding - basic 153,294 135,622 153,217 132,159
Weighted average common shares/units outstanding - diluted 153,647 135,622 153,504 132,159
Dividends declared per common share/unit (In dollars per share/unit) $ 0.24 $ 0.18 $ 0.48 $ 0.36
[1] Proportionate property net operating income, our key measurement of segment profit or loss excludes property management revenues (which are included in rental and other property revenues), property management expenses and casualty gains and losses (which are included in property operating expenses) and depreciation and amortization and provision for real estate impairment losses. Accordingly, we do not allocate these amounts to our segments.