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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
REVENUES        
Total revenues $ 214,560 $ 183,500 $ 426,553 $ 364,978
EXPENSES        
Property operating expenses 72,012 63,787 147,465 127,023
Depreciation and amortization 89,260 78,656 184,926 163,205
General and administrative expenses 6,023 5,333 13,203 11,930
Other expenses (income), net 2,519 (3,076) 6,179 942
Total operating expenses 169,814 144,700 351,773 303,100
Interest income 1,507 25,652 3,032 39,133
Interest expense (37,554) (26,027) (73,741) (48,134)
Loss on extinguishment of debt 0 0 (2,008) (23,636)
(Loss) gain on dispositions and impairments of real estate (17,472) 175,606 (17,472) 587,609
Gain on derivative instruments, net 11,390 0 9,252 0
Loss from unconsolidated real estate partnerships (842) (873) (1,877) (2,887)
Income (loss) before income tax expense 1,775 213,158 (8,034) 613,963
Income tax expense (1,177) (1,499) (1,316) (920)
Net income (loss) 598 211,659 (9,350) 613,043
Noncontrolling interests:        
Net (income) loss attributable to noncontrolling interests in consolidated real estate partnerships (684) (381) (1,369) 183
Net income attributable to preferred noncontrolling interests in AIR Operating Partnership (1,570) (1,602) (3,140) (3,205)
Net loss (income) attributable to common noncontrolling interests in AIR Operating Partnership 315 (12,749) 1,141 (36,916)
Net income attributable to noncontrolling interests (1,939) (14,732) (3,368) (39,938)
Net (loss) income attributable to AIR (1,341) 196,927 (12,718) 573,105
Net income attributable to AIR preferred stockholders (42) (43) (85) (85)
Net income attributable to participating securities (56) (162) (93) (417)
Net (loss) income attributable to AIR common stockholders $ (1,439) $ 196,722 $ (12,896) $ 572,603
Net income attributable to AIR common stockholders per share - basic (in dollars per share) $ (0.01) $ 1.26 $ (0.09) $ 3.66
Net income attributable to AIR common stockholders per share - diluted (in dollars per share) $ (0.01) $ 1.26 $ (0.09) $ 3.66
Weighted average common shares/units outstanding - basic (in shares) 148,832 155,927 148,821 156,327
Weighted average common shares/units outstanding - diluted 148,832 156,136 148,821 156,607
Rental and other property revenues        
REVENUES        
Total revenues $ 212,492 $ 181,012 $ 422,415 $ 360,273
Other revenues        
REVENUES        
Total revenues 2,068 2,488 4,138 4,705
Apartment Income REIT, L.P.        
REVENUES        
Total revenues 214,560 183,500 426,553 364,978
EXPENSES        
Property operating expenses 72,012 63,787 147,465 127,023
Depreciation and amortization 89,260 78,656 184,926 163,205
General and administrative expenses 6,023 5,333 13,203 11,930
Other expenses (income), net 2,519 (3,076) 6,179 942
Total operating expenses 169,814 144,700 351,773 303,100
Interest income 1,507 25,652 3,032 39,133
Interest expense (37,554) (26,027) (73,741) (48,134)
Loss on extinguishment of debt 0 0 (2,008) (23,636)
(Loss) gain on dispositions and impairments of real estate (17,472) 175,606 (17,472) 587,609
Gain on derivative instruments, net 11,390 0 9,252 0
Loss from unconsolidated real estate partnerships (842) (873) (1,877) (2,887)
Income (loss) before income tax expense 1,775 213,158 (8,034) 613,963
Income tax expense (1,177) (1,499) (1,316) (920)
Net income (loss) 598 211,659 (9,350) 613,043
Noncontrolling interests:        
Net (income) loss attributable to noncontrolling interests in consolidated real estate partnerships (684) (381) (1,369) 183
Net income attributable to preferred noncontrolling interests in AIR Operating Partnership (86) 211,278 (10,719) 613,226
Net income attributable to AIR preferred stockholders (1,612) (1,645) (3,225) (3,290)
Net income attributable to participating securities (56) (162) (93) (417)
Net (loss) income attributable to AIR common stockholders $ (1,754) $ 209,471 $ (14,037) $ 609,519
Net income attributable to AIR common stockholders per share - basic (in dollars per share) $ (0.01) $ 1.26 $ (0.09) $ 3.66
Net income attributable to AIR common stockholders per share - diluted (in dollars per share) $ (0.01) $ 1.26 $ (0.09) $ 3.66
Weighted average common shares/units outstanding - basic (in shares) 159,778 166,023 159,531 166,434
Weighted average common shares/units outstanding - diluted 159,778 166,232 159,531 166,714
Apartment Income REIT, L.P. | Rental and other property revenues        
REVENUES        
Total revenues $ 212,492 $ 181,012 $ 422,415 $ 360,273
Apartment Income REIT, L.P. | Other revenues        
REVENUES        
Total revenues $ 2,068 $ 2,488 $ 4,138 $ 4,705