Company Quick10K Filing
Aimco Properties
Price51.82 EPS2
Shares157 P/E22
MCap8,129 P/FCF29
Net Debt4,161 EBIT496
TEV12,291 TEV/EBIT25
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-09-30 Filed 2020-11-02
10-Q 2020-06-30 Filed 2020-08-05
10-Q 2020-03-31 Filed 2020-05-11
10-K 2019-12-31 Filed 2020-02-24
10-Q 2019-09-30 Filed 2019-11-04
10-Q 2019-06-30 Filed 2019-08-09
10-Q 2019-03-31 Filed 2019-05-06
10-K 2018-12-31 Filed 2019-02-20
10-Q 2018-09-30 Filed 2018-11-05
10-Q 2018-06-30 Filed 2018-08-07
10-Q 2018-03-31 Filed 2018-05-08
10-K 2017-12-31 Filed 2018-03-01
10-Q 2017-09-30 Filed 2017-11-01
10-Q 2017-06-30 Filed 2017-08-02
10-Q 2017-03-31 Filed 2017-05-05
10-K 2016-12-31 Filed 2017-02-24
10-Q 2016-09-30 Filed 2016-10-28
10-Q 2016-06-30 Filed 2016-07-29
10-Q 2016-03-31 Filed 2016-04-29
10-K 2015-12-31 Filed 2016-02-29
10-Q 2015-09-30 Filed 2015-11-05
10-Q 2015-07-31 Filed 2015-07-31
10-Q 2015-03-31 Filed 2015-05-01
10-K 2014-12-31 Filed 2015-02-27
10-Q 2014-09-30 Filed 2014-10-31
10-Q 2014-06-30 Filed 2014-08-01
10-Q 2014-03-31 Filed 2014-05-02
10-K 2013-12-31 Filed 2014-02-21
10-Q 2013-09-30 Filed 2013-11-01
10-Q 2013-06-30 Filed 2013-08-02
10-Q 2013-03-31 Filed 2013-05-03
10-Q 2012-09-30 Filed 2012-11-02
10-Q 2012-06-30 Filed 2012-08-03
10-Q 2012-03-31 Filed 2012-05-07
10-K 2011-12-31 Filed 2012-02-23
10-Q 2011-09-30 Filed 2011-10-28
10-Q 2011-06-30 Filed 2011-08-01
10-Q 2011-03-31 Filed 2011-04-29
10-K 2010-12-31 Filed 2011-02-25
10-Q 2010-09-30 Filed 2010-11-01
10-Q 2010-06-30 Filed 2010-07-30
10-Q 2010-03-31 Filed 2010-05-03
10-K 2009-12-31 Filed 2010-02-26
8-K 2021-02-03 Officers, Exhibits
8-K 2020-12-23 Off-BS Arrangement, Exhibits
8-K 2020-12-21 Officers, Exhibits
8-K 2020-12-21 Exhibits
8-K 2020-12-16 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2020-12-15 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2020-12-15 Enter Agreement, M&A, Off-BS Arrangement, Shareholder Rights, Control, Officers, Amend Bylaw, Other Events, Exhibits
8-K 2020-12-15 Enter Agreement, M&A, Sale of Shares, Shareholder Rights, Control, Officers, Amend Bylaw, Other Events, Exhibits
8-K 2020-12-02 Regulation FD, Exhibits
8-K 2020-11-30 Other Events, Exhibits
8-K 2020-11-30
8-K 2020-11-30 Amend Bylaw, Other Events, Exhibits
8-K 2020-11-25
8-K 2020-11-25
8-K 2020-11-19
8-K 2020-11-18
8-K 2020-11-11
8-K 2020-11-05
8-K 2020-10-29
8-K 2020-10-21
8-K 2020-10-21
8-K 2020-09-22
8-K 2020-09-14
8-K 2020-08-03
8-K 2020-06-01
8-K 2020-05-07
8-K 2020-04-28
8-K 2020-04-20
8-K 2020-03-24
8-K 2020-02-28
8-K 2020-01-30
8-K 2020-01-28
8-K 2019-12-19
8-K 2019-12-11
8-K 2019-12-02
8-K 2019-11-12
8-K 2019-10-31
8-K 2019-09-30
8-K 2019-08-26
8-K 2019-08-01
8-K 2019-06-03
8-K 2019-05-02
8-K 2019-04-30
8-K 2019-04-15
8-K 2019-04-05
8-K 2019-03-22
8-K 2019-03-01
8-K 2019-02-20
8-K 2019-02-13
8-K 2019-02-03
8-K 2018-12-07
8-K 2018-11-06
8-K 2018-11-01
8-K 2018-09-24
8-K 2018-08-13
8-K 2018-08-02
8-K 2018-07-25
8-K 2018-07-25
8-K 2018-06-04
8-K 2018-05-07
8-K 2018-05-01
8-K 2018-04-30
8-K 2018-04-26
8-K 2018-04-16
8-K 2018-03-02
8-K 2018-02-22
8-K 2018-02-01

AIV 10Q Quarterly Report

Part I. Financial Information
Item 1. Financial Statements
Note 1 - Organization
Note 2 - Basis of Presentation and Summary of Significant Accounting Policies
Note 3 - Significant Transactions
Note 4 - Commitments and Contingencies
Note 5 - Earnings and Dividends per Share and Unit
Note 6 - Fair Value Measurements
Note 7 - Variable Interest Entities
Note 8 - Business Segments
Note 9 - Subsequent Events
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II. Other Information
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 6. Exhibits
EX-31.1 aiv-ex311_8.htm
EX-31.2 aiv-ex312_11.htm
EX-31.3 aiv-ex313_9.htm
EX-31.4 aiv-ex314_6.htm
EX-32.1 aiv-ex321_7.htm
EX-32.2 aiv-ex322_10.htm

Aimco Properties Earnings 2020-09-30

Balance SheetIncome StatementCash Flow
10.08.06.04.02.00.02012201420172020
Assets, Equity
0.70.60.40.30.10.02012201420172020
Rev, G Profit, Net Income
0.60.30.1-0.2-0.4-0.72012201420172020
Ops, Inv, Fin

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Table of Contents

 

ure

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 10-Q

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2020  

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from          to

Commission File Number: 1-13232 (Apartment Investment and Management Company)

Commission File Number: 0-24497 (AIMCO Properties, L.P.)

Apartment Investment and Management Company

AIMCO Properties, L.P.

(Exact name of registrant as specified in its charter)

 

Maryland (Apartment Investment and Management Company)

 

84-1259577

Delaware (AIMCO Properties, L.P.)

 

84-1275621

(State or other jurisdiction of

 

(I.R.S. Employer

incorporation or organization)

 

Identification No.)

 

 

 

4582 South Ulster Street, Suite 1700

 

 

Denver, Colorado

 

80237

(Address of principal executive offices)

 

(Zip Code)

 

(303) 757-8101

(Registrant’s telephone number, including area code)

Not Applicable

(Former name, former address, and former fiscal year, if changed since last report)

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of Each Class

 

Trading Symbol(s)

 

Name of Each Exchange on Which Registered

Class A Common Stock (Aimco Investment and Management Company)

 

AIV

 

New York Stock Exchange

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

 

Apartment Investment and Management Company:  Yes      No  

 

AIMCO Properties, L.P.:  Yes      No  

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

 

Apartment Investment and Management Company:  Yes      No  

 

AIMCO Properties, L.P.:  Yes      No  

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Apartment Investment and Management Company:

 

Large accelerated filer

 

 

Accelerated filer

Non-accelerated filer

 

 

Smaller reporting company

 

 

 

 

Emerging growth company

 

AIMCO Properties, L.P.:

 

Large accelerated filer

 

 

Accelerated filer

Non-accelerated filer

 

 

Smaller reporting company

 

 

 

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

Apartment Investment and Management Company:

 

AIMCO Properties, L.P.:

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

 

Apartment Investment and Management Company:  Yes      No  

 

AIMCO Properties, L.P.:  Yes        No  

The number of shares of Apartment Investment and Management Company Class A Common Stock outstanding as of October 28, 2020: 148,865,947

 

 

 

 


Table of Contents

 

EXPLANATORY NOTE

This filing combines the reports on Form 10-Q for the quarterly period ended September 30, 2020, of Apartment Investment and Management Company, or Aimco, and AIMCO Properties, L.P., or the Aimco Operating Partnership. Where it is important to distinguish between the two entities, we refer to them specifically. Otherwise, references to “we,” “us,” or “our” mean, collectively, Aimco, the Aimco Operating Partnership, and their consolidated entities.

Aimco, a Maryland corporation, is a self-administered and self-managed real estate investment trust, or REIT. Aimco, through wholly-owned subsidiaries, is the general and special limited partner of the Aimco Operating Partnership. As of September 30, 2020, Aimco owned approximately 93.5% of the legal interest in the common partnership units of the Aimco Operating Partnership and 94.9% of the economic interest in the Aimco Operating Partnership. The remaining 6.5% legal interest and 5.1% economic interest is owned by limited partners. As the sole general partner of the Aimco Operating Partnership, Aimco has exclusive control of the Aimco Operating Partnership’s day-to-day management.

The Aimco Operating Partnership holds all of Aimco’s assets and manages the daily operations of Aimco’s business. Pursuant to the Aimco Operating Partnership agreement, Aimco is required to contribute to the Aimco Operating Partnership all proceeds from the offerings of its securities. In exchange for the contribution of such proceeds, Aimco receives additional interests in the Aimco Operating Partnership with similar terms (e.g., if Aimco contributes proceeds of a stock offering, Aimco receives partnership units with terms substantially similar to the stock issued by Aimco).

We believe combining the periodic reports of Aimco and the Aimco Operating Partnership into this single report provides the following benefits:

 

We present our business as a whole, in the same manner our management views and operates the business;

 

We eliminate duplicative disclosure and provide a more streamlined and readable presentation because a substantial portion of the disclosures apply to both Aimco and the Aimco Operating Partnership; and

 

We save time and cost through the preparation of a single combined report rather than two separate reports.

We operate Aimco and the Aimco Operating Partnership as one enterprise, the management of Aimco directs the management and operations of the Aimco Operating Partnership, and the members of the Board of Directors of Aimco are identical to those of the Aimco Operating Partnership’s general partner.

We believe it is important to understand the few differences between Aimco and the Aimco Operating Partnership in the context of how Aimco and the Aimco Operating Partnership operate as a consolidated company. Aimco has no assets or liabilities other than its investment in the Aimco Operating Partnership. Also, Aimco is a corporation that issues publicly traded equity from time to time, whereas the Aimco Operating Partnership is a partnership that has no publicly traded equity. Except for the net proceeds from stock offerings by Aimco, which are contributed to the Aimco Operating Partnership in exchange for additional limited partnership interests (of a similar type and in an amount equal to the shares of stock sold in the offering), the Aimco Operating Partnership generates all remaining capital required by its business. These sources include the Aimco Operating Partnership’s working capital, net cash provided by operating activities, borrowings under its revolving credit facility, the issuance of debt and equity securities, including additional partnership units, and proceeds received from the sale of apartment communities.

Equity, partners’ capital, and noncontrolling interests are the main areas of difference between the condensed consolidated financial statements of Aimco and those of the Aimco Operating Partnership. Interests in the Aimco Operating Partnership held by entities other than Aimco, which we refer to as OP Units, are classified within partners’ capital in the Aimco Operating Partnership’s financial statements and as noncontrolling interests in Aimco’s financial statements.

To help investors understand the differences between Aimco and the Aimco Operating Partnership, this report provides: separate condensed consolidated financial statements for Aimco and the Aimco Operating Partnership; a single set of condensed consolidated notes to such financial statements that includes separate discussions of each entity’s earnings per share or earnings per unit, as applicable; and a combined Management’s Discussion and Analysis of Financial Condition and Results of Operations section that includes discrete information related to each entity, where appropriate.

This report also includes separate Part I, Item 4. Controls and Procedures sections and separate Exhibits 31 and 32 certifications for Aimco and the Aimco Operating Partnership in order to establish that the requisite certifications have been made and that Aimco and the Aimco Operating Partnership are both compliant with Rule 13a-15 or Rule 15d-15 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and 18 U.S.C. §1350.

 

1


Table of Contents

 

APARTMENT INVESTMENT AND MANAGEMENT COMPANY

AIMCO PROPERTIES, L.P.

 

TABLE OF CONTENTS

 

FORM 10-Q

 

 

Page

 

PART I.     FINANCIAL INFORMATION

 

ITEM 1.

FINANCIAL STATEMENTS

 

 

Apartment Investment and Management Company:

 

 

Condensed Consolidated Balance Sheets (Unaudited)

3

 

Condensed Consolidated Statements of Operations (Unaudited)

4

 

Condensed Consolidated Statements of Comprehensive Income (Unaudited)

5

 

Condensed Consolidated Statements of Equity (Unaudited)

6

 

Condensed Consolidated Statements of Cash Flows (Unaudited)

8

 

AIMCO Properties, L.P.:

 

 

Condensed Consolidated Balance Sheets (Unaudited)

9

 

Condensed Consolidated Statements of Operations (Unaudited)

10

 

Condensed Consolidated Statements of Comprehensive Income (Unaudited)

11

 

Condensed Consolidated Statements of Partners’ Capital (Unaudited)

12

 

Condensed Consolidated Statements of Cash Flows (Unaudited)

14

 

Notes to the Condensed Consolidated Financial Statements of Apartment Investment and Management Company and AIMCO Properties, L.P. (Unaudited)

15

ITEM 2.

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

26

ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

47

ITEM 4.

CONTROLS AND PROCEDURES

47

 

PART II.     OTHER INFORMATION

 

ITEM 1A.

RISK FACTORS

48

ITEM 2.

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

49

ITEM 6.

EXHIBITS

51

Signatures

 

52

 

 

2


Table of Contents

 

PART I. FINANCIAL INFORMATION

 

ITEM 1. FINANCIAL STATEMENTS

APARTMENT INVESTMENT AND MANAGEMENT COMPANY

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share data)

(Unaudited)

 

 

 

September 30, 2020

 

 

December 31, 2019

 

ASSETS

 

 

 

 

 

 

 

 

Buildings and improvements

 

$

7,006,395

 

 

$

6,868,543

 

Land

 

 

1,891,763

 

 

 

1,869,048

 

   Total real estate

 

 

8,898,158

 

 

 

8,737,591

 

Accumulated depreciation

 

 

(2,858,174

)

 

 

(2,718,284

)

   Net real estate

 

 

6,039,984

 

 

 

6,019,307

 

Cash and cash equivalents

 

 

228,368

 

 

 

142,902

 

Restricted cash

 

 

40,123

 

 

 

34,800

 

Mezzanine investment

 

 

300,326

 

 

 

280,258

 

Other assets

 

 

383,298

 

 

 

351,472

 

Assets held for sale

 

 

50,030

 

 

 

 

   Total assets

 

$

7,042,129

 

 

$

6,828,739

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND EQUITY

 

 

 

 

 

 

 

 

Non-recourse property debt, net

 

$

4,058,295

 

 

$

4,230,590

 

Term loan, net

 

 

348,502

 

 

 

 

Revolving credit facility borrowings

 

 

 

 

 

275,000

 

   Total indebtedness

 

 

4,406,797

 

 

 

4,505,590

 

Accrued liabilities and other

 

 

356,538

 

 

 

360,574

 

Liabilities related to assets held for sale

 

 

58,177

 

 

 

 

   Total liabilities

 

 

4,821,512

 

 

 

4,866,164

 

 

 

 

 

 

 

 

 

 

Redeemable preferred OP Units

 

 

79,449

 

 

 

97,064

 

Redeemable noncontrolling interests in consolidated real estate partnership

 

 

4,371

 

 

 

4,716

 

Commitments and contingencies (Note 4)

 

 

 

 

 

 

 

 

Equity:

 

 

 

 

 

 

 

 

      Common Stock, $0.01 par value, 510,587,500 shares authorized,

         148,865,947 and 148,885,197 shares issued/outstanding at

            September 30, 2020 and December 31, 2019, respectively

 

 

1,489

 

 

 

1,489

 

      Additional paid-in capital

 

 

4,000,925

 

 

 

3,497,367

 

      Accumulated other comprehensive income

 

 

3,579

 

 

 

4,195

 

      Distributions in excess of earnings

 

 

(1,884,602

)

 

 

(1,722,402

)

   Total Aimco equity

 

 

2,121,391

 

 

 

1,780,649

 

Noncontrolling interests in consolidated real estate partnerships

 

 

(60,212

)

 

 

(3,296

)

Common noncontrolling interests in Aimco Operating Partnership

 

 

75,618

 

 

 

83,442

 

   Total equity

 

 

2,136,797

 

 

 

1,860,795

 

   Total liabilities and equity

 

$

7,042,129

 

 

$

6,828,739

 

 

See notes to condensed consolidated financial statements.

3

 


Table of Contents

 

APARTMENT INVESTMENT AND MANAGEMENT COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share data)

(Unaudited)

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

REVENUES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Rental and other property revenues

 

$

215,455

 

 

$

229,827

 

 

$

658,815

 

 

$

684,262

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OPERATING EXPENSES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property operating expenses

 

 

74,929

 

 

 

77,484

 

 

 

224,532

 

 

 

232,090

 

Depreciation and amortization

 

 

98,249

 

 

 

97,538

 

 

 

296,414

 

 

 

283,027

 

General and administrative expenses

 

 

8,118

 

 

 

10,595

 

 

 

27,922

 

 

 

31,922

 

Investment management expenses

 

 

2,819

 

 

 

1,581

 

 

 

5,124

 

 

 

4,319

 

Other expenses, net

 

 

17,571

 

 

 

4,002

 

 

 

23,452

 

 

 

12,759

 

   Total operating expenses

 

 

201,686

 

 

 

191,200

 

 

 

577,444

 

 

 

564,117

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

 

3,041

 

 

 

2,824

 

 

 

10,407

 

 

 

8,615

 

Interest expense

 

 

(50,519

)

 

 

(42,011

)

 

 

(140,657

)

 

 

(122,961

)

Gain on dispositions of real estate

 

 

 

 

 

1,146

 

 

 

47,204

 

 

 

356,929

 

Mezzanine investment income, net

 

 

6,870

 

 

 

 

 

 

20,553

 

 

 

 

Income from unconsolidated real estate partnerships

 

 

277

 

 

 

288

 

 

 

629

 

 

 

591

 

   (Loss) income before income tax benefit

 

 

(26,562

)

 

 

874

 

 

 

19,507

 

 

 

363,319

 

Income tax benefit

 

 

1,747

 

 

 

3,096

 

 

 

7,859

 

 

 

1,942

 

   Net (loss) income

 

 

(24,815

)

 

 

3,970

 

 

 

27,366

 

 

 

365,261

 

Noncontrolling interests:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

      Net loss (income) attributable to noncontrolling interests in

         consolidated real estate partnerships

 

 

154

 

 

 

58

 

 

 

153

 

 

 

(103

)

      Net income attributable to preferred noncontrolling interests

         in Aimco Operating Partnership

 

 

(1,687

)

 

 

(1,933

)

 

 

(5,415

)

 

 

(5,800

)

      Net loss (income) attributable to common noncontrolling

         interests in Aimco Operating Partnership

 

 

1,341

 

 

 

(116

)

 

 

(1,134

)

 

 

(18,787

)

   Net income attributable to noncontrolling interests

 

 

(192

)

 

 

(1,991

)

 

 

(6,396

)

 

 

(24,690

)

      Net (loss) income attributable to Aimco

 

 

(25,007

)

 

 

1,979

 

 

 

20,970

 

 

 

340,571

 

      Net income attributable to Aimco preferred stockholders

 

 

 

 

 

 

 

 

 

 

 

(7,335

)

      Net (income) loss attributable to participating securities

 

 

(39

)

 

 

24

 

 

 

(125

)

 

 

(431

)

   Net (loss) income attributable to Aimco common

      stockholders

 

$

(25,046

)

 

$

2,003

 

 

$

20,845

 

 

$

332,805

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Net (loss) income attributable to Aimco per common

      share – basic and diluted

 

$

(0.17

)

 

$

0.01

 

 

$

0.14

 

 

$

2.26

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Weighted average common shares outstanding – basic

 

 

148,544

 

 

 

148,434

 

 

 

148,532

 

 

 

147,474

 

   Weighted average common shares outstanding – diluted

 

 

148,544

 

 

 

148,636

 

 

 

148,628

 

 

 

147,692

 

 

See notes to condensed consolidated financial statements.

4

 


Table of Contents

 

APARTMENT INVESTMENT AND MANAGEMENT COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In thousands)

(Unaudited)

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Net (loss) income

 

$

(24,815

)

 

$

3,970

 

 

$

27,366

 

 

$

365,261

 

Unrealized losses on available for sale debt securities

 

 

(243

)

 

 

(402

)

 

 

(658

)

 

 

(325

)

Comprehensive (loss) income

 

 

(25,058

)

 

 

3,568

 

 

 

26,708

 

 

 

364,936

 

Comprehensive income attributable to noncontrolling

     interests

 

 

(177

)

 

 

(1,967

)

 

 

(6,354

)

 

 

(24,671

)

Comprehensive (loss) income attributable to Aimco

 

$

(25,235

)

 

$

1,601

 

 

$

20,354

 

 

$

340,265

 

 

 

 

See notes to condensed consolidated financial statements.

5

 


Table of Contents

 

APARTMENT INVESTMENT AND MANAGEMENT COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY

For the Three Months Ended September 30, 2020 and 2019

(In thousands)

(Unaudited)

 

 

 

Common Stock

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

Noncontrolling

Interests in

 

 

Common

Noncontrolling

Interests in

 

 

 

 

 

 

 

Shares

Issued

 

 

Amount

 

 

Additional

Paid-

in Capital

 

 

Other

Comprehensive

Income (Loss)

 

 

Distributions

in Excess

of Earnings

 

 

Total Aimco

Equity

 

 

Consolidated

Real Estate

Partnerships

 

 

Aimco

Operating

Partnership

 

 

Total

Equity

 

Balances at June 30, 2019

 

 

148,827

 

 

$

1,488

 

 

$

3,498,629

 

 

$

4,866

 

 

$

(1,741,765

)

 

$

1,763,218

 

 

$

(2,718

)

 

$

82,366

 

 

$

1,842,866

 

Redemption of Aimco Operating Partnership units

 

 

57

 

 

 

1

 

 

 

2,820

 

 

 

 

 

 

 

 

 

2,821

 

 

 

 

 

 

(3,647

)

 

 

(826

)

Amortization of share-based compensation cost

 

 

 

 

 

 

 

 

1,163

 

 

 

 

 

 

 

 

 

1,163

 

 

 

 

 

 

795

 

 

 

1,958

 

Effect of changes in ownership for consolidated entities

 

 

 

 

 

 

 

 

(5,104

)

 

 

 

 

 

 

 

 

(5,104

)

 

 

2,315

 

 

 

2,789

 

 

 

 

Contribution from noncontrolling interest in consolidated real estate partnerships

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4,911

 

 

 

 

 

 

4,911

 

Purchase of noncontrolling interest in consolidated real estate partnerships

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2,863

)

 

 

 

 

 

(2,863

)

Change in accumulated other comprehensive income

 

 

 

 

 

 

 

 

 

 

 

(378

)

 

 

 

 

 

(378

)

 

 

 

 

 

(24

)

 

 

(402

)

Net income