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

3 Months Ended

Mar. 31, 2019

Schedule of Equity [Line Items]

Reconciliation of consolidated temporary equity accounts

The following table presents a reconciliation of the Aimco Operating Partnership’s preferred OP Units from December 31, 2018 to March 31, 2019. The preferred OP Units may be redeemed at the holders’ option (as further discussed in Note 6), and are therefore presented within temporary equity in Aimco’s condensed consolidated balance sheets and within temporary capital in the Aimco Operating Partnership’s condensed consolidated balance sheets (in thousands).

Balance, December 31, 2018	$	101,291
Distributions to holders of preferred OP Units	(1,934		)
Redemption of preferred OP Units and other	(96		)
Net income attributable to preferred OP Units	1,934
Balance, March 31, 2019	$	101,195

Reclassifications to conform to the current presentation

We have also reclassified gain on dispositions of real estate and related income taxes, which were previously reported net on our condensed consolidated statements of operations, to now present gain on dispositions of real estate as a component of income before income taxes in our condensed consolidated statements of operations, as follows (in thousands):

	March 31, 2018
	As Previously Reported		Adjustments			As Revised
Income tax benefit	$	37,388	$	(2,871	)	$	34,517
Gain on dispositions of real estate	50,324		2,871			53,195