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Consolidated Statements of Operations OP - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
REVENUES      
Total revenues $ 820,036 $ 773,723 $ 740,853
EXPENSES      
Property operating expenses 244,095 231,791 235,832
Property management expenses 31,737 29,473 32,269
Depreciation and amortization 342,593 350,945 319,742
General and administrative expenses 25,494 24,939 18,585
Other expenses, net 25,889 9,073 27,220
Total operating expenses 669,808 646,221 633,648
Interest income 8,314 50,264 58,651
Interest expense (129,654) (116,459) (129,467)
Loss on extinguishment of debt (2,008) (23,636) (156,707)
Gain on dispositions of real estate, impairments of real estate, and derecognition of leased properties 677,740 939,806 594,861
Gain on derivative instruments, net 16,742 0 0
Loss from unconsolidated real estate partnerships (29,648) (3,504) (565)
Income before income tax expense 691,714 973,973 473,978
Income tax expense (benefit) (2,427) (3,923) 5,246
Net income 689,287 970,050 479,224
Net (income) loss attributable to noncontrolling interests in consolidated real estate partnerships (5,185) (458) 3,243
Net income attributable to AIR 635,101 904,432 447,621
Net income attributable to AIR preferred stockholders (172) (172) (181)
Net income attributable to participating securities (485) (618) (316)
Net income attributable to AIR common stockholders $ 634,444 $ 903,642 $ 447,124
Net income attributable to AIR common stockholders per share - basic (in dollars per share) $ 4.29 $ 5.86 $ 2.90
Net income attributable to AIR common stockholders per share - diluted (in dollars per share) $ 4.27 $ 5.81 $ 2.89
Weighted average common shares/units outstanding - basic (in shares) 147,899 154,093 154,135
Weighted average common shares/units outstanding - diluted (in shares) 150,220 156,587 154,503
Rental and other property revenues      
REVENUES      
Total revenues $ 809,875 $ 764,192 $ 733,483
Other revenues      
REVENUES      
Total revenues 10,161 9,531 7,370
Apartment Income REIT, L.P      
REVENUES      
Total revenues 820,036 773,723 740,853
EXPENSES      
Property operating expenses 244,095 231,791 235,832
Property management expenses 31,737 29,473 32,269
Depreciation and amortization 342,593 350,945 319,742
General and administrative expenses 25,494 24,939 18,585
Other expenses, net 25,889 9,073 27,220
Total operating expenses 669,808 646,221 633,648
Interest income 8,314 50,264 58,651
Interest expense (129,654) (116,459) (129,467)
Loss on extinguishment of debt (2,008) (23,636) (156,707)
Gain on dispositions of real estate, impairments of real estate, and derecognition of leased properties 677,740 939,806 594,861
Gain on derivative instruments, net 16,742 0 0
Loss from unconsolidated real estate partnerships (29,648) (3,504) (565)
Income before income tax expense 691,714 973,973 473,978
Income tax expense (benefit) (2,427) (3,923) 5,246
Net income 689,287 970,050 479,224
Net (income) loss attributable to noncontrolling interests in consolidated real estate partnerships (5,185) (458) 3,243
Net income attributable to AIR 684,102 969,592 482,467
Net income attributable to AIR preferred stockholders (6,452) (6,560) (6,594)
Net income attributable to participating securities (485) (618) (316)
Net income attributable to AIR common stockholders $ 677,165 $ 962,414 $ 475,557
Net income attributable to AIR common stockholders per share - basic (in dollars per share) $ 4.29 $ 5.86 $ 2.92
Net income attributable to AIR common stockholders per share - diluted (in dollars per share) $ 4.27 $ 5.81 $ 2.92
Weighted average common shares/units outstanding - basic (in shares) 157,687 164,141 162,739
Weighted average common shares/units outstanding - diluted (in shares) 160,008 166,635 163,108
Apartment Income REIT, L.P | Rental and other property revenues      
REVENUES      
Total revenues $ 809,875 $ 764,192 $ 733,483
Apartment Income REIT, L.P | Other revenues      
REVENUES      
Total revenues $ 10,161 $ 9,531 $ 7,370