Business Segments (Tables)

12 Months Ended

Dec. 31, 2013

Segment Reporting [Abstract]

Summary information for the reportable segments

The following tables present the revenues, net operating income (loss) and income (loss) from continuing operations of our conventional and affordable real estate operations segments on a proportionate basis for the years ended December 31, 2013, 2012 and 2011 (in thousands):

	Conventional Real Estate Operations		Affordable Real Estate Operations		Proportionate Adjustments (1)		Corporate and Amounts Not Allocated to Segments			Consolidated
Year Ended December 31, 2013:
Rental and other property revenues (2)	$	803,242	$	98,713	$	37,201	$	75		$	939,231
Tax credit and asset management revenues	—		—		—		34,822			34,822
Total revenues	803,242		98,713		37,201		34,897			974,053
Property operating expenses (2)	285,062		39,717		13,406		37,487			375,672
Investment management expenses	—		—		—		4,341			4,341
Depreciation and amortization (2)	—		—		—		291,910			291,910
General and administrative expenses	—		—		—		45,708			45,708
Other expenses, net	—		—		—		7,403			7,403
Total operating expenses	285,062		39,717		13,406		386,849			725,034
Operating income (loss)	518,180		58,996		23,795		(351,952		)	249,019
Other items included in continuing operations	—		—		—		(214,423		)	(214,423		)
Income (loss) from continuing operations	$	518,180	$	58,996	$	23,795	$	(566,375	)	$	34,596

	Conventional Real Estate Operations		Affordable Real Estate Operations		Proportionate Adjustments (1)		Corporate and Amounts Not Allocated to Segments			Consolidated
Year Ended December 31, 2012:
Rental and other property revenues (2)	$	761,876	$	97,135	$	57,251	$	480		$	916,742
Tax credit and asset management revenues	—		—		—		41,769			41,769
Total revenues	761,876		97,135		57,251		42,249			958,511
Property operating expenses (2)	274,414		38,932		23,562		37,439			374,347
Investment management expenses	—		—		—		12,008			12,008
Depreciation and amortization (2)	—		—		—		325,173			325,173
Provision for real estate impairment losses (2)	—		—		—		6,235			6,235
General and administrative expenses	—		—		—		49,602			49,602
Other expenses, net	—		—		—		12,130			12,130
Total operating expenses	274,414		38,932		23,562		442,587			779,495
Operating income (loss)	487,462		58,203		33,689		(400,338		)	179,016
Other items included in continuing operations	—		—		—		(197,772		)	(197,772		)
Income (loss) from continuing operations	$	487,462	$	58,203	$	33,689	$	(598,110	)	$	(18,756	)

	Conventional Real Estate Operations		Affordable Real Estate Operations		Proportionate Adjustments (1)		Corporate and Amounts Not Allocated to Segments			Consolidated
Year Ended December 31, 2011:
Rental and other property revenues (2)	$	724,866	$	94,007	$	55,627	$	1,194		$	875,694
Tax credit and asset management revenues	—		—		—		38,661			38,661
Total revenues	724,866		94,007		55,627		39,855			914,355
Property operating expenses (2)	263,969		37,096		22,140		52,959			376,164
Investment management expenses	—		—		—		10,459			10,459
Depreciation and amortization (2)	—		—		—		323,233			323,233
General and administrative expenses	—		—		—		50,906			50,906
Other expenses, net	—		—		—		18,302			18,302
Total operating expenses	263,969		37,096		22,140		455,859			779,064
Operating income (loss)	460,897		56,911		33,487		(416,004		)	135,291
Other items included in continuing operations (3)	—		—		—		(271,528		)	(271,528		)
Income (loss) from continuing operations	$	460,897	$	56,911	$	33,487	$	(687,532	)	$	(136,237	)

(1) Represents adjustments for the noncontrolling interests in consolidated real estate partnerships’ share of the results of our consolidated apartment communities and the results of consolidated apartment communities that we do not manage, which are excluded from our measurement of segment performance but included in the related consolidated amounts, and our share of the results of operations of our unconsolidated real estate partnerships that we manage, which are included in our measurement of segment performance but excluded from the related consolidated amounts.

(2) 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), depreciation and amortization and provision for real estate impairment losses. Accordingly, we do not allocate these amounts to our segments.

(3) In addition to the other items included in continuing operations presented in the table for the year ending December 31, 2011, the Aimco Operating Partnership recognized $1.3 million of interest income on its notes receivable from Aimco. These notes were repaid by Aimco during the three months ended December 31, 2011.

Assets of reportable segments

The assets of our reportable segments on a proportionate basis, together with the proportionate adjustments to reconcile these amounts to the consolidated assets of our segments, and the consolidated assets not allocated to our segments are as follows (in thousands):

	2013		2012
Conventional	$	4,793,472	$	4,837,236
Affordable	382,091		466,678
Proportionate adjustments (1)	428,376		634,858
Corporate and other assets	475,474		462,608
Total consolidated assets	$	6,079,413	$	6,401,380

(1) Represents adjustments for the noncontrolling interests in consolidated real estate partnerships’ share of the assets of our consolidated apartment communities, which are excluded from our measurement of segment financial condition, and our share of the assets of our unconsolidated real estate partnerships, which are included in our measure of segment financial condition.