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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 701,162 $ 616,439
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 263,949 253,650
Gain on dispositions and impairments of real estate (675,534) (587,609)
Loss on extinguishment of debt 2,008 23,636
Income tax expense 5,911 966
Other, net 4,308 6,890
Net changes in operating assets and operating liabilities (55) 37,484
Net cash provided by operating activities 301,749 351,456
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of real estate (339,696) (858,815)
Capital expenditures (140,855) (151,115)
Contribution to unconsolidated joint ventures (51,836) 0
Proceeds from dispositions of real estate 52,066 759,227
Distributions from unconsolidated joint ventures 207,137 0
Proceeds from repayment of note receivable 0 534,127
Other investing activities, net 3,194 (30,500)
Net cash (used in) provided by investing activities (269,990) 252,924
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal repayments on non-recourse property debt (111,699) (361,056)
Proceeds from non-recourse property debt 1,005,920 0
Repayment of term loan (325,000) (350,000)
Net (repayments of) borrowings on revolving credit facility (436,250) 176,205
Proceeds from the issuance of unsecured notes payable 0 400,000
Repurchases of common partnership units held by General Partner and Special Limited Partner (77,782) (171,711)
Payment of dividends to holders of Common Stock (200,137) (210,377)
Payment of distributions to noncontrolling interests (23,524) (18,262)
Other financing activities, net (30,522) (47,294)
Net cash used in financing activities (198,994) (582,495)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (167,235) 21,885
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 301,405 92,761
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD 134,170 114,646
Apartment Income REIT, L.P.    
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income 701,162 616,439
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 263,949 253,650
Gain on dispositions and impairments of real estate (675,534) (587,609)
Loss on extinguishment of debt 2,008 23,636
Income tax expense 5,911 966
Other, net 4,308 6,890
Net changes in operating assets and operating liabilities (55) 37,484
Net cash provided by operating activities 301,749 351,456
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of real estate (339,696) (858,815)
Capital expenditures (140,855) (151,115)
Contribution to unconsolidated joint ventures (51,836) 0
Proceeds from dispositions of real estate 52,066 759,227
Distributions from unconsolidated joint ventures 207,137 0
Proceeds from repayment of note receivable 0 534,127
Other investing activities, net 3,194 (30,500)
Net cash (used in) provided by investing activities (269,990) 252,924
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal repayments on non-recourse property debt (111,699) (361,056)
Proceeds from non-recourse property debt 1,005,920 0
Repayment of term loan (325,000) (350,000)
Net (repayments of) borrowings on revolving credit facility (436,250) 176,205
Proceeds from the issuance of unsecured notes payable 0 400,000
Repurchases of common partnership units held by General Partner and Special Limited Partner (77,782) (171,711)
Payment of distributions to General Partner and Special Limited Partner (200,137) (210,377)
Payment of distributions to Limited Partners (13,591) (13,439)
Payment of distributions to noncontrolling interests (9,933) (4,823)
Other financing activities, net (30,522) (47,294)
Net cash used in financing activities (198,994) (582,495)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (167,235) 21,885
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD 301,405 92,761
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD $ 134,170 $ 114,646