Basis of Presentation and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Estimated aggregate amortization of below-market leases

At December 31, 2018, our below-market leases had a weighted average amortization period of 6.3 years and estimated aggregate amortization for each of the five succeeding years as follows (in thousands):

	Estimated Amortization
2019		$1,986
2020	1,741
2021	1,668
2022	1,621
2023	1,571

Other assets

At December 31, 2018 and 2017, other assets was comprised of the following amounts (dollars in thousands):

	2018		2017
Investments in securitization trust that holds Aimco property debt	$	83,587	$	82,794
Deferred tax asset, net (Note 9)	67,060		32,227
Intangible assets, net	43,424		38,701
Prepaid expenses, real estate taxes and insurance	25,657		25,144
Software, equipment and leasehold improvements	18,309		20,048
Investments in unconsolidated real estate partnerships	12,650		12,636
Accounts and notes receivable, net	55,630		17,035
Deferred costs, deposits and other	45,224		44,154
Total other assets	$	351,541	$	272,739

Accounting pronouncements adopted in the current year

For the year ended December 31, 2018, we present gain on dispositions of real estate as a component of income before income taxes in our consolidated statements of operations and we have revised the 2017 and 2016 comparative periods to conform to this presentation as follows:

	2017				2016
	As Previously Reported	Adjustments		As Revised	As Previously Reported	Adjustments		As Revised
Income tax benefit	32,126	(1,290	)	30,836	25,208	(6,366	)	18,842
Gain on dispositions of real estate	299,559	1,290		300,849	393,790	6,366		400,156

We have revised our consolidated statements of cash flows for the years ended December 31, 2017 and 2016 to conform to this presentation, and the effect of the revisions to net cash flows from operating, investing, and financing activities as previously reported are summarized in the following table (in thousands):

	2017									2016
	As Previously Reported			Adjustments			As Revised			As Previously Reported			Adjustments			As Revised
Net cash provided by operating activities	$	394,139		$	(2,067	)	$	392,072		$	377,724		$	(1,223	)	$	376,501
Net cash used in investing activities	14,704			(1,685		)	13,019			(97,773		)	(1,374		)	(99,147		)
Net cash used in financing activities	(393,301		)	(399		)	(393,700		)	(269,496		)	(14,453		)	(283,949		)