XML 42 R4.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
REVENUES        
Rental and other property revenues $ 238,637 $ 239,492 $ 476,926 $ 479,628
Tax credit and asset management revenues 6,146 6,926 12,122 15,714
Total revenues 244,783 246,418 489,048 495,342
OPERATING EXPENSES        
Property operating expenses 87,930 94,500 183,422 193,768
Investment management expenses 1,086 1,021 2,689 2,273
Depreciation and amortization 75,150 71,399 149,582 141,706
General and administrative expenses 12,062 10,119 22,714 20,646
Other expenses, net 2,912 3,582 3,931 5,874
Total operating expenses 179,140 180,621 362,338 364,267
Operating income 65,643 65,797 126,710 131,075
Interest income 1,705 1,671 3,430 3,400
Interest expense (49,605) (55,061) (103,125) (110,807)
Other, net 350 189 2,614 (1,790)
Income before income taxes and gain on dispositions 18,093 12,596 29,629 21,878
Income tax benefit 5,814 5,347 12,735 8,105
Income from continuing operations 23,907 17,943 42,364 29,983
Gain on dispositions of real estate, net of tax 44,781 66,662 130,474 136,154
Net income 68,688 84,605 172,838 166,137
Noncontrolling interests:        
Net income attributable to noncontrolling interests in consolidated real estate partnerships (111) (2,226) (4,867) (13,615)
Net income attributable to preferred noncontrolling interests in Aimco Operating Partnership (1,736) (1,602) (3,472) (3,207)
Net income attributable to common noncontrolling interests in Aimco Operating Partnership (2,972) (3,735) (7,370) (7,346)
Net income attributable to noncontrolling interests (4,819) (7,563) (15,709) (24,168)
Net income attributable to the company 63,869 77,042 157,129 141,969
Net income attributable to the company's preferred equity holders (2,758) (1,758) (6,280) (2,212)
Net income attributable to participating securities (307) (274) (701) (513)
Net income attributable to the company's common equity holders $ 60,804 $ 75,010 $ 150,148 $ 139,244
Earnings attributable to the company per common share/unit – basic (Note 7):        
Income from continuing operations (in dollars per share/unit) $ 0.39 $ 0.51 $ 0.97 $ 0.96
Net Income (in dollars per share/unit) 0.39 0.51 0.97 0.96
Earnings attributable to the company per common share/unit – diluted (Note 7):        
Income from continuing operations (in dollars per share/unit) 0.39 0.51 0.97 0.95
Net income (in dollars per share/unit) 0.39 0.51 0.97 0.95
Dividends declared per common share/unit $ 0.30 $ 0.26 $ 0.58 $ 0.52
AIMCO PROPERTIES, L.P [Member]        
REVENUES        
Rental and other property revenues $ 238,637 $ 239,492 $ 476,926 $ 479,628
Tax credit and asset management revenues 6,146 6,926 12,122 15,714
Total revenues 244,783 246,418 489,048 495,342
OPERATING EXPENSES        
Property operating expenses 87,930 94,500 183,422 193,768
Investment management expenses 1,086 1,021 2,689 2,273
Depreciation and amortization 75,150 71,399 149,582 141,706
General and administrative expenses 12,062 10,119 22,714 20,646
Other expenses, net 2,912 3,582 3,931 5,874
Total operating expenses 179,140 180,621 362,338 364,267
Operating income 65,643 65,797 126,710 131,075
Interest income 1,705 1,671 3,430 3,400
Interest expense (49,605) (55,061) (103,125) (110,807)
Other, net 350 189 2,614 (1,790)
Income before income taxes and gain on dispositions 18,093 12,596 29,629 21,878
Income tax benefit 5,814 5,347 12,735 8,105
Income from continuing operations 23,907 17,943 42,364 29,983
Gain on dispositions of real estate, net of tax 44,781 66,662 130,474 136,154
Net income 68,688 84,605 172,838 166,137
Noncontrolling interests:        
Net income attributable to noncontrolling interests in consolidated real estate partnerships (111) (2,226) (4,867) (13,615)
Net income attributable to noncontrolling interests (111) (2,226) (4,867) (13,615)
Net income attributable to the company 68,577 82,379 167,971 152,522
Net income attributable to the company's preferred equity holders (4,494) (3,360) (9,752) (5,419)
Net income attributable to participating securities (307) (274) (701) (513)
Net income attributable to the company's common equity holders $ 63,776 $ 78,745 $ 157,518 $ 146,590
Earnings attributable to the company per common share/unit – basic (Note 7):        
Income from continuing operations (in dollars per share/unit) $ 0.39 $ 0.51 $ 0.97 $ 0.96
Net Income (in dollars per share/unit) 0.39 0.51 0.97 0.96
Earnings attributable to the company per common share/unit – diluted (Note 7):        
Income from continuing operations (in dollars per share/unit) 0.39 0.51 0.97 0.95
Net income (in dollars per share/unit) 0.39 0.51 0.97 0.95
Dividends declared per common share/unit $ 0.30 $ 0.26 $ 0.58 $ 0.52