Income Taxes (Tables)

12 Months Ended

Dec. 31, 2011

Income Taxes [Abstract]

Components of deferred tax liabilities and assets

		September 30,			September 30,
	2011			2010
Deferred tax liabilities:
Partnership differences	$	38,385		$	26,033
Depreciation		—			1,212
Deferred revenue		17,326			11,975
Total deferred tax liabilities	$	55,711		$	39,220
Deferred tax assets:
Net operating, capital and other loss carryforwards	$	56,032		$	41,511
Provision for impairments on real estate assets		33,321			33,321
Depreciation		1,073			—
Receivables		3,724			8,752
Accrued liabilities		8,163			6,648
Accrued interest expense		—			2,220
Intangibles — management contracts		1,126			1,273
Tax credit carryforwards		7,610			7,181
Equity compensation		947			900
Other		179			159
Total deferred tax assets		112,175			101,965
Valuation allowance		(4,531	)		(4,009	)
Net deferred income tax assets	$	51,933		$	58,736

Reconciliation of unrecognized tax benefits

		September 30,			September 30,		September 30,
	2011			2010		2009
Balance at January 1	$	4,071		$	3,079	$	3,080
Additions based on tax positions related to prior years		—			992		—
Reductions based on tax positions related to prior years		(154	)		—		(1	)
Balance at December 31	$	3,917		$	4,071	$	3,079

Components of the provision (benefit) for income taxes

		September 30,			September 30,			September 30,
	2011			2010			2009
Current:
Federal	$	(109	)	$	—		$	(1,910	)
State		604			1,395			3,992
Total current		495			1,395			2,082
Deferred:
Federal		(143	)		(10,912	)		(17,320	)
State		(903	)		(1,380	)		(3,988	)
Total deferred		(1,046	)		(12,292	)		(21,308	)
Total benefit	$	(551	)	$	(10,897	)	$	(19,226	)
Classification:
Continuing operations	$	(7,166	)	$	(17,101	)	$	(20,473	)
Discontinued operations	$	6,615		$	6,204		$	1,247

Reconciliation of income tax attributable to continuing and discontinued operations

		September 30,			September 30,			September 30,			September 30,			September 30,			September 30,
	2011						2010						2009
	Amount			Percent			Amount			Percent			Amount			Percent
Tax at U.S. statutory rates on consolidated loss subject to tax	$	1,756			35.0	%	$	(17,622	)		35.0	%	$	(14,221	)		35.0	%
State income tax, net of Federal tax benefit		(299	)		(6.0	%)		14			—			(2,183	)		5.4	%
Effect of permanent differences		(565	)		(11.3	%)		(673	)		1.3	%		127			(0.3	%))
Tax effect of intercompany transfers of assets between the REIT and taxable REIT subsidiaries (1)		(1,965	)		(39.2	%)		5,694			(11.3	%)		(4,759	)		11.7	%)
Write-off of excess tax basis		—			—			(132	)		0.3	%		(377	)		0.9	%
Increase in valuation allowance		522			10.4	%		1,822			(3.6	%)		2,187			(5.4	%)
	$	(551	)		(11.1	%)	$	(10,897	)		21.7	%	$	(19,226	)		47.3	%

(1) Includes the effect of assets contributed by the Aimco Operating Partnership to taxable REIT subsidiaries, for which deferred tax expense or benefit was recognized upon the sale or impairment of the asset by the taxable REIT subsidiary.

Dividends paid to holders of Common Stock

		September 30,		September 30,			September 30,		September 30,			September 30,		September 30,
	2011 (1)					2010 (1)					2009 (1) (2)
	Amount		Percentage			Amount		Percentage			Amount		Percentage
Ordinary income	$	—		—		$	0.04		13	%	$	—		—
Capital gains		0.12		24	%		0.06		20	%		0.10		26	%
Qualified dividends		—		—			—		—			0.06		14	%
Unrecaptured Section 1250 gain		0.36		76	%		0.20		67	%		0.24		60	%
	$	0.48		100	%	$	0.30		100	%	$	0.40		100	%

(1) We designated the per share amounts above as capital gain dividends in accordance with the requirements under the Code. Additionally, we designated as capital gain dividends a like portion of preferred dividends.

(2) On December 18, 2009, our Board of Directors declared a quarterly cash dividend of $0.10 per common share for the quarter ended December 31, 2009, that was paid on January 29, 2010, to stockholders of record on December 31, 2009. Pursuant to certain provisions in the Code, this dividend was deemed paid by us and received by our stockholders in 2009.