Unaudited Summarized Consolidated Quarterly Information

Aimco

Aimco’s summarized unaudited consolidated quarterly information for the years ended December 31, 2016 and 2015, is provided below (in thousands, except per share amounts):



	Quarter
2016	First		Second		Third		Fourth
Total revenues	$	246,239	$	251,218	$	248,904	$	249,493
Total operating expenses	182,705		186,782		190,172		189,399
Operating income	63,534		64,436		58,732		60,094
Income before gain on dispositions	23,698		29,412		15,538		20,835
Gain on dispositions of real estate, net of tax	6,187		216,541		14,498		156,564
Net income	29,885		245,953		30,036		177,399
Net income attributable to Aimco common stockholders	23,223		221,382		11,176		162,000
Earnings per common share - basic:
Net income attributable to Aimco common stockholders	$	0.15	$	1.42	$	0.07	$	1.04
Earnings per common share - diluted:
Net income attributable to Aimco common stockholders	$	0.15	$	1.41	$	0.07	$	1.03
Weighted average common shares outstanding - basic	155,791		156,375		156,079		156,171
Weighted average common shares outstanding - diluted	156,117		156,793		156,527		156,540



	Quarter
2015	First		Second		Third		Fourth
Total revenues	$	244,265	$	244,783	$	246,387	$	245,875
Total operating expenses	183,198		179,140		182,366		180,391
Operating income	61,067		65,643		64,021		65,484
Income before gain on dispositions	18,457		23,907		23,769		25,257
Gain on dispositions of real estate, net of tax	85,693		44,781		—		50,119
Net income	104,150		68,688		23,769		75,376
Net income attributable to Aimco common stockholders	89,344		60,804		19,179		66,639
Earnings per common share - basic and diluted:
Net income attributable to Aimco common stockholders	$	0.58	$	0.39	$	0.12	$	0.43
Weighted average common shares outstanding - basic	153,821		155,524		155,639		155,725
Weighted average common shares outstanding - diluted	154,277		155,954		156,008		156,043

The Aimco Operating Partnership

The Aimco Operating Partnership’s summarized unaudited consolidated quarterly information for the years ended December 31, 2016 and 2015, is provided below (in thousands, except per unit amounts):



	Quarter
2016	First		Second		Third		Fourth
Total revenues	$	246,239	$	251,218	$	248,904	$	249,493
Total operating expenses	182,705		186,782		190,172		189,399
Operating income	63,534		64,436		58,732		60,094
Income before gain on dispositions	23,698		29,412		15,538		20,835
Gain on dispositions of real estate, net of tax	6,187		216,541		14,498		156,564
Net income	29,885		245,953		30,036		177,399
Net income attributable to the Partnership’s common unitholders	24,395		232,517		11,368		169,869
Earnings per common unit - basic:
Net income attributable to the Partnership’s common unitholders	$	0.15	$	1.42	$	0.07	$	1.04
Earnings per common unit - diluted:
Net income attributable to the Partnership’s common unitholders	$	0.15	$	1.41	$	0.07	$	1.03
Weighted average common units outstanding - basic	163,639		164,188		163,832		163,799
Weighted average common units outstanding - diluted	163,965		164,606		164,280		164,168



	Quarter
2015	First		Second		Third		Fourth
Total revenues	$	244,265	$	244,783	$	246,387	$	245,875
Total operating expenses	183,198		179,140		182,366		180,391
Operating income	61,067		65,643		64,021		65,484
Income before gain on dispositions	18,457		23,907		23,769		25,257
Gain on dispositions of real estate, net of tax	85,693		44,781		—		50,119
Net income	104,150		68,688		23,769		75,376
Net income attributable to the Partnership’s common unitholders	93,742		63,776		20,072		69,930
Earnings per common unit - basic and diluted:
Net income attributable to the Partnership’s common unitholders	$	0.58	$	0.39	$	0.12	$	0.43
Weighted average common units outstanding - basic	161,461		163,149		163,241		163,485
Weighted average common units outstanding - diluted	161,917		163,579		163,610		163,803