2022 Q1 Form 10-Q Financial Statement

#000095017022008537 Filed on May 09, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $49.99M $39.80M
YoY Change 25.6% 3.9%
Cost Of Revenue $19.22M $16.90M
YoY Change 13.73% 10.46%
Gross Profit $30.77M $22.90M
YoY Change 34.38% -0.43%
Gross Profit Margin 61.55% 57.53%
Selling, General & Admin $9.472M $6.300M
YoY Change 50.35% 250.0%
% of Gross Profit 30.78% 27.51%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $23.12M $20.70M
YoY Change 11.68% 7.25%
% of Gross Profit 75.12% 90.39%
Operating Expenses $51.81M $43.97M
YoY Change 17.83% 20.6%
Operating Profit -$1.817M -$4.166M
YoY Change -56.39% -325.07%
Interest Expense $14.60M $12.68M
YoY Change 15.18% 124.33%
% of Operating Profit
Other Income/Expense, Net -$4.541M $363.0K
YoY Change -1350.96% -187.47%
Pretax Income $6.056M $16.33M
YoY Change -62.92% 545.1%
Income Tax -$4.100M -$5.100M
% Of Pretax Income -67.7% -31.22%
Net Earnings $8.095M $20.21M
YoY Change -59.95% 200.71%
Net Earnings / Revenue 16.19% 50.78%
Basic Earnings Per Share $0.05 $0.14
Diluted Earnings Per Share $0.05 $0.14
COMMON SHARES
Basic Shares Outstanding 149.8M 148.9M
Diluted Shares Outstanding 150.3M 149.0M

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $109.0M $226.0M
YoY Change -51.77% -33.72%
Cash & Equivalents $109.0M $235.3M
Short-Term Investments
Other Short-Term Assets $18.15M $9.000M
YoY Change 101.71%
Inventory
Prepaid Expenses
Receivables $3.136M $3.000M
Other Receivables $3.654M $24.00M
Total Short-Term Assets $134.0M $226.0M
YoY Change -40.73% -33.72%
LONG-TERM ASSETS
Property, Plant & Equipment $1.854B $1.489B
YoY Change 24.52% -75.29%
Goodwill
YoY Change
Intangibles $2.114M $5.745M
YoY Change -63.2%
Long-Term Investments $346.0M $315.0M
YoY Change 9.84% 9.96%
Other Assets $104.6M $9.000M
YoY Change 1062.19% -73.53%
Total Long-Term Assets $2.460B $1.992B
YoY Change 23.49% -70.3%
TOTAL ASSETS
Total Short-Term Assets $134.0M $226.0M
Total Long-Term Assets $2.460B $1.992B
Total Assets $2.594B $2.218B
YoY Change 16.95% -68.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $114.8M $543.0M
YoY Change -78.87% 55.59%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $114.8M $543.0M
YoY Change -78.87% 55.59%
LONG-TERM LIABILITIES
Long-Term Debt $1.736B $964.0M
YoY Change 80.11% -79.93%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.736B $964.0M
YoY Change 80.11% -79.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $114.8M $543.0M
Total Long-Term Liabilities $1.736B $964.0M
Total Liabilities $1.975B $1.632B
YoY Change 20.96% -68.31%
SHAREHOLDERS EQUITY
Retained Earnings -$14.57M $3.375M
YoY Change -531.73%
Common Stock $1.497M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $510.4M $520.9M
YoY Change
Total Liabilities & Shareholders Equity $2.594B $2.218B
YoY Change 16.95% -68.53%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $8.095M $20.21M
YoY Change -59.95% 200.71%
Depreciation, Depletion And Amortization $23.12M $20.70M
YoY Change 11.68% 7.25%
Cash From Operating Activities $6.511M $2.324M
YoY Change 180.16% -85.06%
INVESTING ACTIVITIES
Capital Expenditures -$97.15M -$37.90M
YoY Change 156.33% 465.67%
Acquisitions
YoY Change
Other Investing Activities $73.00K $49.00K
YoY Change 48.98% -101.05%
Cash From Investing Activities -$111.4M -$37.94M
YoY Change 193.77% 470.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.317M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 37.98M -27.82M
YoY Change -236.53% 213.61%
NET CHANGE
Cash From Operating Activities 6.511M 2.324M
Cash From Investing Activities -111.4M -37.94M
Cash From Financing Activities 37.98M -27.82M
Net Change In Cash -66.96M -63.43M
YoY Change 5.56% -198318.75%
FREE CASH FLOW
Cash From Operating Activities $6.511M $2.324M
Capital Expenditures -$97.15M -$37.90M
Free Cash Flow $103.7M $40.22M
YoY Change 157.7% 80.74%

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ShareBasedCompensation
2667000
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
704000
CY2022Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-6752000
CY2021Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
19231000
CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-5625000
CY2021Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
16631000
CY2022Q1 us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
-3601000
CY2021Q1 us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
-19110000
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
6511000
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2324000
CY2022Q1 us-gaap Payments To Acquire Residential Real Estate
PaymentsToAcquireResidentialRealEstate
47492000
CY2021Q1 us-gaap Payments To Acquire Residential Real Estate
PaymentsToAcquireResidentialRealEstate
6230000
CY2022Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
49656000
CY2021Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
31658000
CY2022Q1 us-gaap Payments To Acquire Equity Securities Fv Ni
PaymentsToAcquireEquitySecuritiesFvNi
14227000
CY2022Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
73000
CY2021Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
49000
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-111448000
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-37937000
CY2022Q1 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
40000000
CY2022Q1 us-gaap Proceeds From Construction Loans Payable
ProceedsFromConstructionLoansPayable
15625000
CY2022Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
2101000
CY2021Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
18174000
CY2021Q1 us-gaap Payments For Derivative Instrument Financing Activities
PaymentsForDerivativeInstrumentFinancingActivities
5590000
CY2022Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
24516000
CY2021Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
3699000
CY2022Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1317000
CY2022Q1 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
9718000
CY2022Q1 us-gaap Proceeds From Partnership Contribution
ProceedsFromPartnershipContribution
6879000
CY2022Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
5094000
CY2022Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-1216000
CY2021Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-354000
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
37978000
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-27817000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-66959000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-63430000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
244582000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
298735000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
177623000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
235305000
CY2022Q1 aiv Capital Expenditures Net Of Accrued Capital Costs
CapitalExpendituresNetOfAccruedCapitalCosts
40400000
CY2021Q1 aiv Capital Expenditures Net Of Accrued Capital Costs
CapitalExpendituresNetOfAccruedCapitalCosts
16100000
CY2022Q1 us-gaap Nature Of Operations
NatureOfOperations
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Note 1 — Organization</span></p><p style="text-indent:2.667%;font-size:10.0pt;margin-top:9.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:9.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Apartment Investment and Management Company (“Aimco”), a Maryland corporation incorporated on January 10, 1994, is a self-administered and self-managed real estate investment trust (“REIT”). Aimco, through a wholly owned subsidiary, is the general and special limited partner of Aimco OP L.P. (“Aimco Operating Partnership”).</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:2.667%;font-size:10.0pt;margin-top:9.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:9.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Except as the context otherwise requires, “we,” “our,” and “us” refer to Aimco, Aimco Operating Partnership, and their consolidated subsidiaries, collectively.</span></p><p style="text-indent:2.667%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:6.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">On December 15, 2020, Aimco completed the separation of its businesses (the “Separation”), creating two, separate and distinct, publicly traded companies, Aimco and Apartment Income REIT Corp. (“AIR”) (Aimco and AIR together, as they existed prior to the Separation, “Aimco Predecessor”). Events noted in this filing as occurring before December 15, 2020, were those entered into by Aimco Predecessor.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:6.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Business</span></p><p style="text-indent:2.667%;font-size:10.0pt;margin-top:9.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:9.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">As of March 31, 2022, Aimco owned </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">92.6</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">%</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> of the legal interest in the common partnership units of Aimco Operating Partnership and </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">95.0</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">%</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> of the economic interest in Aimco Operating Partnership. The remaining </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">7.4</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">%</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> legal interest is owned by limited partners. As the sole general partner of Aimco Operating Partnership, Aimco has exclusive control of Aimco Operating Partnership’s day-to-day management.</span></p><p style="text-indent:2.667%;font-size:10.0pt;margin-top:9.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:9.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">We own or lease a portfolio of real estate investments focused primarily on the U.S. multifamily sector. These real estate investments include: a portfolio of </span><span style="font-size:10.0pt;font-family:Times New Roman;white-space:pre-wrap;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">29</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> operating apartment communities (</span><span style="font-size:10.0pt;font-family:Times New Roman;white-space:pre-wrap;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">25</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> consolidated properties with </span><span style="font-size:10.0pt;font-family:Times New Roman;white-space:pre-wrap;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">6,125</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> apartment homes and </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span><span style="font-size:10.0pt;font-family:Times New Roman;white-space:pre-wrap;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">four </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> unconsolidated operating properties), diversified by both geography and price point, in ten major U.S. markets; </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">one</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> commercial office building that is part of a land assemblage;</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">three</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">residential apartment communities, with </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1,331</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> planned apartment homes, a single family rental community with </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">16</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> planned homes plus </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">eight</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> accessory dwelling units, and </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">one</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> hotel, with </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">106</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> planned rooms, we are actively developing or redeveloping; land parcels held for development; and</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> three residential apartment communities with </span><span style="font-size:10.0pt;font-family:Times New Roman;white-space:pre-wrap;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">499</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> apartment homes for which we have completed the redevelopment, but have not achieved stabilization. Our real estate portfolio also includes one land parcel held for sale and an unconsolidated investment in land held for development. In addition, we hold other opportunistic and alternative investments, including our Mezzanine Investment (as defined and described in Note 2 below); our IQHQ investment (as defined and described in Note 3 below); and our investment in real estate technology funds.</span></p>
CY2022Q1 aiv Redeemable Noncontrolling Interest Policies
RedeemableNoncontrollingInterestPolicies
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Common Noncontrolling Interests in Aimco Operating Partnership</span></p><p style="text-indent:2.667%;font-size:10.0pt;margin-top:9.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:9.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Common noncontrolling interests in Aimco Operating Partnership consist of common Aimco Operating Partnership Units (“OP Units”) and are reflected in Aimco’s accompanying condensed consolidated balance sheets as common noncontrolling interests in Aimco Operating Partnership. Aimco Operating Partnership’s income or loss is allocated to the holders of common OP Units, other than Aimco, based on the weighted-average number of common OP Units (including Aimco) outstanding during the period. For all periods presented, the holders of common OP Units had a weighted-average economic ownership interest in Aimco Operating Partnership of approximately </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">5.0</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">%</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">. Substantially all of the assets and liabilities of Aimco are held by Aimco Operating Partnership.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:9.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Redeemable Noncontrolling Interests in Consolidated Real Estate Partnerships</span></p><p style="text-indent:2.667%;font-size:10.0pt;margin-top:9.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:9.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Redeemable noncontrolling interests consists of equity interests held by a limited partner in a consolidated real estate partnership that has a finite life. During the first quarter of 2022, we acquired all the outstanding redeemable noncontrolling interests in </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">two</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> consolidated properties for $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">5.1</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> million. At the time of redemption, the carrying amount of the redeemable non-controlling interests was $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">4.9</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> million. Prior to our acquisition during the first quarter of 2022, we attributed to noncontrolling interests their share of income or loss of consolidated partnerships based on their proportionate interest in the results of operations of the partnerships, including their share of losses. Redeemable noncontrolling interests in consolidated real estate partnerships as of March 31, 2022, consists of our institutional partner’s equity interest in our Upton Joint Venture, which provides our partner with an accruing </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">9.7</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">% rate of return on their investment.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:2.667%;font-size:10.0pt;margin-top:9.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:9.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">If a consolidated real estate partnership includes redemption rights that are not within our control, the noncontrolling interest is included as temporary equity.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:2.667%;font-size:10.0pt;margin-top:9.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:9.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">The assets of our consolidated real estate partnerships must first be used to settle the liabilities of the consolidated real estate partnerships. The consolidated real estate partnerships’ creditors do not have recourse to the general credit of Aimco Operating Partnership.</span></p><div style="font-size:10.0pt;font-family:Times New Roman;"><p style="text-indent:2.667%;font-size:10.0pt;margin-top:9.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:9.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">The following table presents a reconciliation of our redeemable noncontrolling interests in consolidated real estate partnerships from </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">December 31, 2021 to March 31, 2022 (in thousands):</span></p> <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:80.062%;"/> <td style="width:2.075%;"/> <td style="width:1.081%;"/> <td style="width:16.061%;"/> <td style="width:0.721%;"/> </tr> <tr style="height:8.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;vertical-align:top;"><p style="text-indent:0.0pt;font-size:8.5pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:8.5pt;font-family:Times New Roman;min-width:fit-content;">Balance at December 31, 2021</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:8.5pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:8.5pt;font-family:Times New Roman;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:8.5pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:8.5pt;font-family:Times New Roman;min-width:fit-content;">$</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;vertical-align:bottom;text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="font-size:8.5pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:8.5pt;font-family:Times New Roman;min-width:fit-content;">33,794</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:8.5pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:8.5pt;font-family:Times New Roman;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:8.0pt;"> <td style="background-color:rgba(0,0,0,0);text-indent:5.0pt;word-break:break-word;vertical-align:top;"><p style="margin-left:5.0pt;text-indent:0.0pt;font-size:8.5pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:8.5pt;font-family:Times New Roman;min-width:fit-content;">Capital contributions</span></p></td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:8.5pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:8.5pt;font-family:Times New Roman;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:8.5pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:8.5pt;font-family:Times New Roman;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;vertical-align:bottom;text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="font-size:8.5pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:8.5pt;font-family:Times New Roman;min-width:fit-content;">6,879</span></p></td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:8.5pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:8.5pt;font-family:Times New Roman;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:8.0pt;"> <td style="background-color:rgba(207,240,252,1);text-indent:5.0pt;word-break:break-word;vertical-align:top;"><p style="margin-left:5.0pt;text-indent:0.0pt;font-size:8.5pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:8.5pt;font-family:Times New Roman;min-width:fit-content;">Redemptions</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:8.5pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:8.5pt;font-family:Times New Roman;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:8.5pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:8.5pt;font-family:Times New Roman;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;vertical-align:bottom;text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:8.5pt;font-family:Times New Roman;min-width:fit-content;">(</span><span style="font-size:8.5pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:8.5pt;font-family:Times New Roman;min-width:fit-content;">4,911</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:8.5pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:8.5pt;font-family:Times New Roman;min-width:fit-content;">)</span></p></td> </tr> <tr style="height:8.0pt;"> <td style="background-color:rgba(0,0,0,0);text-indent:5.0pt;word-break:break-word;vertical-align:top;"><p style="margin-left:5.0pt;text-indent:0.0pt;font-size:8.5pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:8.5pt;font-family:Times New Roman;min-width:fit-content;">Net income</span></p></td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:8.5pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:8.5pt;font-family:Times New Roman;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"><p style="text-indent:0.0pt;font-size:8.5pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:8.5pt;font-family:Times New Roman;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="font-size:8.5pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:8.5pt;font-family:Times New Roman;min-width:fit-content;">1,470</span></p></td> <td style="background-color:rgba(0,0,0,0);word-break:break-word;vertical-align:bottom;border-bottom:0.500pt solid rgba(0,0,0,1);"><p style="text-indent:0.0pt;font-size:8.5pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:8.5pt;font-family:Times New Roman;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:8.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;vertical-align:top;"><p style="text-indent:0.0pt;font-size:8.5pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:8.5pt;font-family:Times New Roman;min-width:fit-content;">Balance at March 31, 2022</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:8.5pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:8.5pt;font-family:Times New Roman;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);"><p style="text-indent:0.0pt;font-size:8.5pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:8.5pt;font-family:Times New Roman;min-width:fit-content;">$</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="font-size:8.5pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:8.5pt;font-family:Times New Roman;min-width:fit-content;">37,232</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;vertical-align:bottom;border-bottom:2.250pt double rgba(0,0,0,1);"><p style="text-indent:0.0pt;font-size:8.5pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:8.5pt;font-family:Times New Roman;min-width:fit-content;"> </span></p></td> </tr> </table></div>
CY2022Q1 aiv Holders Of Common Op Units Economic Interest
HoldersOfCommonOPUnitsEconomicInterest
0.050
CY2021Q1 aiv Holders Of Common Op Units Economic Interest
HoldersOfCommonOPUnitsEconomicInterest
0.050
CY2022Q1 aiv Number Of Consolidated Properties
NumberOfConsolidatedProperties
2
CY2022Q1 aiv Business Acquisition Redeemable Non Controlling Interest
BusinessAcquisitionRedeemableNonControllingInterest
5100000
CY2022Q1 aiv Carrying Amount Of Acquired Redeemable Non Controlling Interest
CarryingAmountOfAcquiredRedeemableNonControllingInterest
4900000
CY2022Q1 us-gaap Investment Interest Rate
InvestmentInterestRate
0.097
CY2022Q1 aiv Consolidated Income Loss Subject To Tax
ConsolidatedIncomeLossSubjectToTax
-14800000
CY2021Q1 aiv Consolidated Income Loss Subject To Tax
ConsolidatedIncomeLossSubjectToTax
-9500000
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4100000
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-5100000
CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:9.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:9.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:2.667%;font-size:10.0pt;margin-top:9.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:9.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">The preparation of our condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts included in the financial statements and accompanying notes thereto. Actual results could differ from those estimates.</span></p>
CY2022Q1 us-gaap Other Investments
OtherInvestments
55104000
CY2021Q4 us-gaap Other Investments
OtherInvestments
45386000
CY2022Q1 us-gaap Notes Receivable Net
NotesReceivableNet
38358000
CY2021Q4 us-gaap Notes Receivable Net
NotesReceivableNet
38029000
CY2022Q1 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
18154000
CY2021Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
20516000
CY2022Q1 us-gaap Real Estate Investments Unconsolidated Real Estate And Other Joint Ventures
RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures
15145000
CY2021Q4 us-gaap Real Estate Investments Unconsolidated Real Estate And Other Joint Ventures
RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures
13025000
CY2022Q1 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
16194000
CY2021Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
22136000
CY2022Q1 us-gaap Assets Held For Sale Not Part Of Disposal Group
AssetsHeldForSaleNotPartOfDisposalGroup
10131000
CY2022Q1 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
9660000
CY2021Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
6388000
CY2022Q1 aiv Corporate Fixed Assets
CorporateFixedAssets
9411000
CY2021Q4 aiv Corporate Fixed Assets
CorporateFixedAssets
9855000
CY2022Q1 us-gaap Due From Affiliates
DueFromAffiliates
3654000
CY2021Q4 us-gaap Due From Affiliates
DueFromAffiliates
4840000
CY2022Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1269000
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1285000
CY2022Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
3136000
CY2021Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
2469000
CY2022Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
2114000
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
3269000
CY2022Q1 us-gaap Other Assets
OtherAssets
181061000
CY2021Q4 us-gaap Other Assets
OtherAssets
165913000
CY2021Q3 aiv Number Of Land Parcels Subject To Disposition
NumberOfLandParcelsSubjectToDisposition
1
CY2022Q1 us-gaap Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
50000000.0
CY2022Q1 aiv Target Compensation Expense Current Year Terry Considine
TargetCompensationExpenseCurrentYearTerryConsidine
1800000
CY2022Q1 aiv Target Compensation Expense And Reimbursement
TargetCompensationExpenseAndReimbursement
5800000
CY2022Q1 us-gaap Legal Fees
LegalFees
1400000
CY2021Q1 us-gaap Legal Fees
LegalFees
1500000
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
8209000
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
20214000
CY2022Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
114000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
8095000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
20214000
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
149790000
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
148914000
CY2022Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
558000
CY2021Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
132000
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
150348000
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
149046000
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.05
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.14
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.05
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.14
CY2020 us-gaap Derivative Description Of Terms
DerivativeDescriptionOfTerms
We receive a cash settlement in the future if the prevailing interest rate is higher than the 1.68% five-year swap strike price. The amount of future cash settlement is capped if the prevailing interest rate exceeds 2.78%. Alternatively, if interest rates were to decrease below the specified strike price, we would not receive a cash settlement, nor would we have any requirement to make a payment.
CY2021 us-gaap Derivative Description Of Terms
DerivativeDescriptionOfTerms
We receive a cash settlement in the future if the prevailing interest rate is higher than the 3% strike price on the five-year swap rate. Alternatively, if interest rates were to decrease below the specified strike price, we would not receive a cash settlement, nor would we have any requirement to make a payment.
CY2021 us-gaap Derivative Term Of Contract
DerivativeTermOfContract
P5Y
CY2022Q1 aiv Area Of Land Development Site
AreaOfLandDevelopmentSite
2.8
CY2022Q1 us-gaap Equity Method Investments
EquityMethodInvestments
346000000.0
CY2021Q4 us-gaap Equity Method Investments
EquityMethodInvestments
337800000
CY2022Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
46333000
CY2021Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
36849000
CY2022Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
3661000
CY2021Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
2955000
CY2022Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
49994000
CY2021Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
39804000
CY2022Q1 us-gaap Residual Value Of Leased Asset
ResidualValueOfLeasedAsset
250800000
CY2022Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P33Y2M12D
CY2021Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P38Y6M
CY2022Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.050
CY2021Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.054
CY2022Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
522900000
CY2022Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
509200000
CY2021Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
429800000
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
435100000
CY2022Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
3200000
CY2021Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
2100000
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y1M6D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y4M24D
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.031
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.031
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
400000
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
300000
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4900000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
5100000
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
12300000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
12700000
CY2022Q1 aiv Sub Lease Commencement Date
SubLeaseCommencementDate
2021-01-01
CY2022Q1 aiv Sublease Expiration Date
SubleaseExpirationDate
2029-05-31
CY2022Q1 aiv Sublease Lease Liability Income Remainder Of Fiscal Year
SubleaseLeaseLiabilityIncomeRemainderOfFiscalYear
1046000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1423000
CY2022Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
19924000
CY2022Q1 aiv Sublease Lease Liability Income Due Year Two
SubleaseLeaseLiabilityIncomeDueYearTwo
1403000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1922000
CY2022Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
28017000
CY2022Q1 aiv Sublease Lease Liability Income Due Year Three
SubleaseLeaseLiabilityIncomeDueYearThree
1413000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1935000
CY2022Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
29017000
CY2022Q1 aiv Sublease Lease Liability Income Due Year Four
SubleaseLeaseLiabilityIncomeDueYearFour
1423000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1930000
CY2022Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
109278000
CY2022Q1 aiv Sublease Lease Liability Income Due Year Five
SubleaseLeaseLiabilityIncomeDueYearFive
1433000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1960000
CY2022Q1 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
30300000
CY2022Q1 aiv Sublease Lease Liability Income Due After Year Five
SubleaseLeaseLiabilityIncomeDueAfterYearFive
3526000
CY2022Q1 aiv Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
4844000
CY2022Q1 aiv Finance Lease Liability Payments Due After Year Four
FinanceLeaseLiabilityPaymentsDueAfterYearFour
1614644000
CY2022Q1 aiv Sublease Lease Liability Income Due
SubleaseLeaseLiabilityIncomeDue
10244000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
14014000
CY2022Q1 aiv Financing Lease Liability Payments Due
FinancingLeaseLiabilityPaymentsDue
1831180000
CY2022Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1684000
CY2022Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
1321945000
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
12330000
CY2022Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
509235000
CY2022Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2022Q1 us-gaap Revenues
Revenues
49994000
CY2022Q1 aiv Property Operating Expenses
PropertyOperatingExpenses
19221000
CY2022Q1 aiv Other Operating Expenses Not Allocated To Reportable Segment
OtherOperatingExpensesNotAllocatedToReportableSegment
32590000
CY2022Q1 us-gaap Operating Expenses
OperatingExpenses
51811000
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-1817000
CY2022Q1 aiv Other Items Included In Continuing Operations
OtherItemsIncludedInContinuingOperations
-7873000
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
6056000
CY2021Q1 us-gaap Revenues
Revenues
39804000
CY2021Q1 aiv Property Operating Expenses
PropertyOperatingExpenses
16942000
CY2021Q1 aiv Other Operating Expenses Not Allocated To Reportable Segment
OtherOperatingExpensesNotAllocatedToReportableSegment
27028000
CY2021Q1 us-gaap Operating Expenses
OperatingExpenses
43970000
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-4166000
CY2021Q1 aiv Other Items Included In Continuing Operations
OtherItemsIncludedInContinuingOperations
-20500000
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
16334000

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