$AVB
AVALONBAY COMMUNITIES INC

2021 Q1 Form 10-Q Financial Statement

#000091591221000015 Filed on May 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $551.1M $602.3M
YoY Change -8.49% 6.37%
Cost Of Revenue $209.5M $199.0M
YoY Change 5.28% 7.68%
Gross Profit $341.7M $402.6M
YoY Change -15.13% 5.56%
Gross Profit Margin 62.0% 66.85%
Selling, General & Admin $17.40M $17.30M
YoY Change 0.58% 26.28%
% of Gross Profit 5.09% 4.3%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $183.3M $177.9M
YoY Change 3.03% 9.78%
% of Gross Profit 53.64% 44.19%
Operating Expenses $200.6M $195.3M
YoY Change 2.71% -52.34%
Operating Profit $354.9M $415.5M
YoY Change -14.59% 5.22%
Interest Expense $52.61M $55.91M
YoY Change -5.9% 16.75%
% of Operating Profit 14.82% 13.46%
Other Income/Expense, Net $170.0K -$3.334M
YoY Change -105.1%
Pretax Income $141.5M $168.1M
YoY Change -15.83% -1.36%
Income Tax -$755.0K $91.00K
% Of Pretax Income -0.53% 0.05%
Net Earnings $142.2M $168.0M
YoY Change -15.34% -1.42%
Net Earnings / Revenue 25.81% 27.9%
Basic Earnings Per Share $1.02 $1.19
Diluted Earnings Per Share $1.02 $1.19
COMMON SHARES
Basic Shares Outstanding 139.3M shares 140.4M shares
Diluted Shares Outstanding 139.6M shares 140.8M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $129.0M $778.0M
YoY Change -83.42% 1134.92%
Cash & Equivalents $129.3M $778.0M
Short-Term Investments
Other Short-Term Assets $196.0M $169.0M
YoY Change 15.98% 17.36%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $325.0M $947.0M
YoY Change -65.68% 357.49%
LONG-TERM ASSETS
Property, Plant & Equipment $18.41B $18.57B
YoY Change -0.89% 3.17%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $211.0M $174.0M
YoY Change 21.26% -18.31%
Other Assets $148.0M $165.0M
YoY Change -10.3% -12.23%
Total Long-Term Assets $18.80B $18.94B
YoY Change -0.79% 2.77%
TOTAL ASSETS
Total Short-Term Assets $325.0M $947.0M
Total Long-Term Assets $18.80B $18.94B
Total Assets $19.12B $19.89B
YoY Change -3.88% 6.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $85.00M $93.00M
YoY Change -8.6% -8.82%
Accrued Expenses $525.0M $484.0M
YoY Change 8.47% 3.86%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $890.0M $864.0M
YoY Change 3.01% 2.73%
LONG-TERM LIABILITIES
Long-Term Debt $7.558B $8.112B
YoY Change -6.83% 14.9%
Other Long-Term Liabilities $0.00 $0.00
YoY Change -100.0%
Total Long-Term Liabilities $7.558B $8.112B
YoY Change -6.83% 14.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $890.0M $864.0M
Total Long-Term Liabilities $7.558B $8.112B
Total Liabilities $8.449B $8.976B
YoY Change -5.87% 13.58%
SHAREHOLDERS EQUITY
Retained Earnings $47.15M $225.7M
YoY Change -79.1% -26.46%
Common Stock $1.396M $1.407M
YoY Change -0.78% 0.93%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.67B $10.91B
YoY Change
Total Liabilities & Shareholders Equity $19.12B $19.89B
YoY Change -3.88% 6.71%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $142.2M $168.0M
YoY Change -15.34% -1.42%
Depreciation, Depletion And Amortization $183.3M $177.9M
YoY Change 3.03% 9.78%
Cash From Operating Activities $330.1M $341.7M
YoY Change -3.38% -5.55%
INVESTING ACTIVITIES
Capital Expenditures -$228.6M -$289.4M
YoY Change -21.01% -25.83%
Acquisitions
YoY Change
Other Investing Activities $72.70M $153.3M
YoY Change -52.58% 99.09%
Cash From Investing Activities -$156.0M -$136.1M
YoY Change 14.61% -56.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $11.00K $125.0K
YoY Change -91.2% -99.92%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$258.0M $535.2M
YoY Change -148.21% -851.04%
NET CHANGE
Cash From Operating Activities $330.1M $341.7M
Cash From Investing Activities -$156.0M -$136.1M
Cash From Financing Activities -$258.0M $535.2M
Net Change In Cash -$83.80M $740.8M
YoY Change -111.31% -3369.66%
FREE CASH FLOW
Cash From Operating Activities $330.1M $341.7M
Capital Expenditures -$228.6M -$289.4M
Free Cash Flow $558.7M $631.1M
YoY Change -11.47% -16.08%

Facts In Submission

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NoncashProjectAbandonmentCosts
246000 USD
CY2020Q1 us-gaap Noncash Project Abandonment Costs
NoncashProjectAbandonmentCosts
1988000 USD
CY2021Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
2654000 USD
CY2020Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
0 USD
CY2021Q1 us-gaap Derivative Instruments Loss Reclassified From Accumulated Oci Into Income Effective Portion
DerivativeInstrumentsLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortion
2367000 USD
CY2020Q1 us-gaap Derivative Instruments Loss Reclassified From Accumulated Oci Into Income Effective Portion
DerivativeInstrumentsLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortion
1949000 USD
CY2021Q1 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
54154000 USD
CY2020Q1 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
24479000 USD
CY2021Q1 us-gaap Gain Loss On Sale Of Other Investments
GainLossOnSaleOfOtherInvestments
131000 USD
CY2020Q1 us-gaap Gain Loss On Sale Of Other Investments
GainLossOnSaleOfOtherInvestments
4903000 USD
CY2021Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-9423000 USD
CY2020Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1239000 USD
CY2021Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
39784000 USD
CY2020Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
3799000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
330145000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
341704000 USD
CY2021Q1 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
198373000 USD
CY2021Q1 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
138000 USD
CY2020Q1 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
245789000 USD
CY2021Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
28020000 USD
CY2020Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
32922000 USD
CY2021Q1 avb Paymentsfor Capital Improvements Non Real Estate
PaymentsforCapitalImprovementsNonRealEstate
2234000 USD
CY2020Q1 avb Paymentsfor Capital Improvements Non Real Estate
PaymentsforCapitalImprovementsNonRealEstate
10663000 USD
CY2021Q1 us-gaap Increase Decrease In Construction Payables
IncreaseDecreaseInConstructionPayables
-8655000 USD
CY2020Q1 us-gaap Increase Decrease In Construction Payables
IncreaseDecreaseInConstructionPayables
462000 USD
CY2021Q1 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
76543000 USD
CY2020Q1 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
63073000 USD
CY2021Q1 us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
13569000 USD
CY2020Q1 us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
98790000 USD
CY2021Q1 us-gaap Payments To Acquire Mortgage Notes Receivable
PaymentsToAcquireMortgageNotesReceivable
0 USD
CY2020Q1 us-gaap Payments To Acquire Mortgage Notes Receivable
PaymentsToAcquireMortgageNotesReceivable
179000 USD
CY2021Q1 us-gaap Proceeds From Sale And Collection Of Notes Receivable
ProceedsFromSaleAndCollectionOfNotesReceivable
1250000 USD
CY2020Q1 us-gaap Proceeds From Sale And Collection Of Notes Receivable
ProceedsFromSaleAndCollectionOfNotesReceivable
960000 USD
CY2021Q1 us-gaap Payments To Acquire Businesses And Interest In Affiliates
PaymentsToAcquireBusinessesAndInterestInAffiliates
10032000 USD
CY2021Q1 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
74726 shares
CY2020Q1 us-gaap Payments To Acquire Businesses And Interest In Affiliates
PaymentsToAcquireBusinessesAndInterestInAffiliates
9799000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-155952000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-136067000 USD
CY2021Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
11000 USD
CY2020Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
125000 USD
CY2021Q1 us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
222734000 USD
CY2020Q1 us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
213671000 USD
CY2021Q1 us-gaap Proceeds From Unsecured Lines Of Credit
ProceedsFromUnsecuredLinesOfCredit
0 USD
CY2020Q1 us-gaap Proceeds From Unsecured Lines Of Credit
ProceedsFromUnsecuredLinesOfCredit
750000000 USD
CY2021Q1 us-gaap Proceeds From Secured Notes Payable
ProceedsFromSecuredNotesPayable
0 USD
CY2020Q1 us-gaap Proceeds From Secured Notes Payable
ProceedsFromSecuredNotesPayable
51000000 USD
CY2021Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
28488000 USD
CY2020Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
51484000 USD
CY2021Q1 us-gaap Proceeds From Unsecured Notes Payable
ProceedsFromUnsecuredNotesPayable
0 USD
CY2020Q1 us-gaap Proceeds From Unsecured Notes Payable
ProceedsFromUnsecuredNotesPayable
699252000 USD
CY2021Q1 us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
0 USD
CY2021Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
13228000 USD
CY2020Q1 us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
658655000 USD
CY2021Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 USD
CY2020Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
5988000 USD
CY2021Q1 us-gaap Payments For Proceeds From Hedge Financing Activities
PaymentsForProceedsFromHedgeFinancingActivities
-6962000 USD
CY2020Q1 us-gaap Payments For Proceeds From Hedge Financing Activities
PaymentsForProceedsFromHedgeFinancingActivities
20314000 USD
CY2021Q1 us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
-22000 USD
CY2020Q1 us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
-35000 USD
CY2021Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
13228000 USD
CY2020Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
14346000 USD
CY2021Q1 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
12000 USD
CY2020Q1 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
12000 USD
CY2021Q1 us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
82000 USD
CY2020Q1 us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
102000 USD
CY2021Q1 avb Payment For Redemption Of Preferred Interest Obligation
PaymentForRedemptionOfPreferredInterestObligation
400000 USD
CY2020Q1 avb Payment For Redemption Of Preferred Interest Obligation
PaymentForRedemptionOfPreferredInterestObligation
600000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-257993000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
535170000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-83800000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
740807000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
313532000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
127614000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
229732000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
868421000 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
37252000 USD
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
36985000 USD
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
129298000 USD
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
777995000 USD
CY2021Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
100434000 USD
CY2020Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
90426000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
229732000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
868421000 USD
CY2021Q1 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
839 shares
CY2021Q1 us-gaap Stock Issued During Period Value Share Based Compensation Forfeited
StockIssuedDuringPeriodValueShareBasedCompensationForfeited
69000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-2367000 USD
CY2020Q1 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
529 shares
CY2020Q1 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
112000 USD
CY2020Q1 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
70351 shares
CY2020Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
14346000 USD
CY2020Q1 us-gaap Stock Issued During Period Value Share Based Compensation Forfeited
StockIssuedDuringPeriodValueShareBasedCompensationForfeited
660000 USD
CY2020Q1 us-gaap Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
3302000 USD
CY2020Q1 us-gaap Increase Decrease In Derivative Assets
IncreaseDecreaseInDerivativeAssets
22000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-1949000 USD
CY2021Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
275 community
CY2021Q1 us-gaap Number Of Units In Real Estate Property
NumberOfUnitsInRealEstateProperty
81227 home
CY2021Q1 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
11 state
CY2021Q1 avb Number Of Owned Communities Under Construction
NumberOfOwnedCommunitiesUnderConstruction
15 community
CY2021Q1 avb Expected Aggregate Number Of Apartment Homes To Be Constructed
ExpectedAggregateNumberOfApartmentHomesToBeConstructed
4560 home
avb Numberof Residential Condominium Units Sold
NumberofResidentialCondominiumUnitsSold
80 residential_condominium
CY2021Q1 avb Additional Numberof Communities Expected To Be Developed
AdditionalNumberofCommunitiesExpectedToBeDeveloped
25 community
CY2021Q1 avb Estimated Number Of Apartment Homes In Communities Expected To Be Developed
EstimatedNumberOfApartmentHomesInCommunitiesExpectedToBeDeveloped
8075 home
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
139291187 shares
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
140376996 shares
CY2021Q1 us-gaap Weighted Average Number Of Limited Partnership And General Partnership Unit Outstanding Basic And Diluted
WeightedAverageNumberOfLimitedPartnershipAndGeneralPartnershipUnitOutstandingBasicAndDiluted
7500 shares
CY2020Q1 us-gaap Weighted Average Number Of Limited Partnership And General Partnership Unit Outstanding Basic And Diluted
WeightedAverageNumberOfLimitedPartnershipAndGeneralPartnershipUnitOutstandingBasicAndDiluted
7500 shares
CY2021Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
253726 shares
CY2020Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
393377 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
139552413 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
140777873 shares
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
142223000 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
167971000 USD
CY2021Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
324000 USD
CY2020Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
427000 USD
CY2021Q1 us-gaap Undistributed Earnings
UndistributedEarnings
141899000 USD
CY2020Q1 us-gaap Undistributed Earnings
UndistributedEarnings
167544000 USD
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
139291187 shares
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
140376996 shares
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.02
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.19
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
142223000 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
167971000 USD
CY2021Q1 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
-12000 USD
CY2020Q1 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
-12000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
142235000 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
167983000 USD
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
139552413 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
140777873 shares
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.02
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.19
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
294115 shares
CY2021Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates.</span></div>
CY2021Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
ReclassificationsCertain reclassifications have been made to amounts in prior years' notes to financial statements to conform to current year presentations as a result of changes in held for sale classification, disposition activity and segment classification.
CY2021Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
18645000 USD
CY2021Q1 us-gaap Revenue Recognition Leases
RevenueRecognitionLeases
<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Lease Revenue Reserves </span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company assesses the collectability of its lease revenue and receivables on an on-going basis. Under ASC 842, Lease Accounting, the Company assesses the probability of receiving all remaining lease amounts due on a lease by lease basis, reserving for revenue and the related receivables for those leases where collection of substantially all of the remaining lease payments is not probable. Subsequently, the Company will only recognize revenue to the extent cash is received. If the Company determines that collection of the remaining lease payments becomes probable at a future date, the Company will recognize the cumulative revenue that would have been recorded under the original lease agreement.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span></div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition to the specific reserves recognized under ASC 842, the Company also evaluates its lease receivables for collectability at a portfolio level under ASC 450, Contingencies – Loss Contingencies. The Company recognizes a reserve under ASC 450 when the uncollectible revenue is probable and reasonably estimable.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span>The Company applies this reserve to the population of the Company’s revenue and receivables not specifically addressed as part of the specific ASC 842 reserve.
CY2021Q1 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
8799000 USD
CY2020Q1 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
11498000 USD
CY2021Q1 us-gaap Notes Payable
NotesPayable
7601326000 USD
CY2020Q4 us-gaap Notes Payable
NotesPayable
7629814000 USD
CY2021Q1 us-gaap Line Of Credit
LineOfCredit
0 USD
CY2020Q4 us-gaap Line Of Credit
LineOfCredit
0 USD
CY2021Q1 us-gaap Long Term Debt
LongTermDebt
7601326000 USD
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
7629814000 USD
CY2021Q1 us-gaap Pledged Assets Not Separately Reported Real Estate
PledgedAssetsNotSeparatelyReportedRealEstate
1382452000 USD
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
10752174000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
142223000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-2367000 USD
CY2021Q1 us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
-273000 USD
CY2021Q1 us-gaap Minority Interest Period Increase Decrease
MinorityInterestPeriodIncreaseDecrease
-16000 USD
CY2021Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.59
CY2021Q1 us-gaap Dividends Common Stock
DividendsCommonStock
221779000 USD
CY2021Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
-13078000 USD
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
7286000 USD
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
10668904000 USD
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
10990198000 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
167971000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
-17603000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-1949000 USD
CY2020Q1 us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
471000 USD
CY2020Q1 us-gaap Minority Interest Period Increase Decrease
MinorityInterestPeriodIncreaseDecrease
-35000 USD
CY2020Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.59
CY2020Q1 us-gaap Dividends Common Stock
DividendsCommonStock
224083000 USD
CY2020Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
-14107000 USD
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
7781000 USD
CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
10912542000 USD
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
280000000 shares
CY2021Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
280000000 shares
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2021Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2021Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
2126 shares
CY2021Q1 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
839 shares
CY2021Q1 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
74726 shares
CY2021Q1 us-gaap Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
343 shares
CY2021Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
CY2021Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
316148000 USD
CY2021Q1 avb Equity Method Investment Net Income Loss Portion Attributable To Parent
EquityMethodInvestmentNetIncomeLossPortionAttributableToParent
61000 USD
CY2020Q1 avb Equity Method Investment Net Income Loss Portion Attributable To Parent
EquityMethodInvestmentNetIncomeLossPortionAttributableToParent
1705000 USD
CY2021Q1 avb Equity Method Investments Amortization Of Excess Investment And Other
EquityMethodInvestmentsAmortizationOfExcessInvestmentAndOther
-528000 USD
CY2020Q1 avb Equity Method Investments Amortization Of Excess Investment And Other
EquityMethodInvestmentsAmortizationOfExcessInvestmentAndOther
-530000 USD
CY2021Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-467000 USD
CY2020Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1175000 USD
CY2021Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
170000 USD
CY2020Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-3334000 USD
CY2021Q1 us-gaap Impairment Of Investments
ImpairmentOfInvestments
0 USD
CY2020Q1 us-gaap Impairment Of Investments
ImpairmentOfInvestments
0 USD
CY2021Q1 avb Number Of Communities Held For Sale
NumberOfCommunitiesHeldForSale
1 community
CY2021Q1 avb Numberof Residential Condominium Units Sold
NumberofResidentialCondominiumUnitsSold
10 residential_condominium
CY2021Q1 avb Number Of Residential Condominiums Remaining To Be Sold
NumberOfResidentialCondominiumsRemainingToBeSold
92 residential_condominium
CY2021Q1 us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
1044000 USD
CY2020Q1 us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
1443000 USD
CY2021Q1 us-gaap Inventory Real Estate
InventoryRealEstate
253859000 USD
CY2020Q4 us-gaap Inventory Real Estate
InventoryRealEstate
267219000 USD
CY2021Q1 avb Number Of Office Leases
NumberOfOfficeLeases
14 Lease
CY2021Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
131269000 USD
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
133581000 USD
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
159813000 USD
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
161313000 USD
CY2021Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
3827000 USD
CY2020Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
3917000 USD
CY2021Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
21632000 USD
CY2020Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
21685000 USD
CY2021Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
20154000 USD
CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
20166000 USD
CY2021Q1 us-gaap Profit Loss
ProfitLoss
142234000 USD
CY2020Q1 us-gaap Profit Loss
ProfitLoss
168006000 USD
CY2021Q1 avb Indirect Operating Expenses Net Of Corporate Income
IndirectOperatingExpensesNetOfCorporateIncome
24470000 USD
CY2020Q1 avb Indirect Operating Expenses Net Of Corporate Income
IndirectOperatingExpensesNetOfCorporateIncome
22799000 USD
CY2021Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
170000 USD
CY2020Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-3334000 USD
CY2021Q1 us-gaap Interest Expense
InterestExpense
52613000 USD
CY2020Q1 us-gaap Interest Expense
InterestExpense
55914000 USD
CY2021Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
122000 USD
CY2020Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-9170000 USD
CY2021Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
17352000 USD
CY2020Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
17320000 USD
CY2021Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-467000 USD
CY2020Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1175000 USD
CY2021Q1 us-gaap Depreciation
Depreciation
183297000 USD
CY2020Q1 us-gaap Depreciation
Depreciation
177911000 USD
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-755000 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
91000 USD
CY2021Q1 avb Gain On Sale Of Real Estate Assets In Continuing Operations
GainOnSaleOfRealEstateAssetsInContinuingOperations
53727000 USD
CY2020Q1 avb Gain On Sale Of Real Estate Assets In Continuing Operations
GainOnSaleOfRealEstateAssetsInContinuingOperations
24436000 USD
CY2021Q1 us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
427000 USD
CY2020Q1 us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
43000 USD
CY2021Q1 avb Gain Losson Saleof Other Investments Net Of Marketing And Administrative Costs
GainLossonSaleofOtherInvestmentsNetOfMarketingAndAdministrativeCosts
-913000 USD
CY2020Q1 avb Gain Losson Saleof Other Investments Net Of Marketing And Administrative Costs
GainLossonSaleofOtherInvestmentsNetOfMarketingAndAdministrativeCosts
3460000 USD
CY2021Q1 avb Disposal Group Not Discontinued Operation Net Operating Income From Assets Held For Sale Not Classified As Discontinued Operations
DisposalGroupNotDiscontinuedOperationNetOperatingIncomeFromAssetsHeldForSaleNotClassifiedAsDiscontinuedOperations
1490000 USD
CY2020Q1 avb Disposal Group Not Discontinued Operation Net Operating Income From Assets Held For Sale Not Classified As Discontinued Operations
DisposalGroupNotDiscontinuedOperationNetOperatingIncomeFromAssetsHeldForSaleNotClassifiedAsDiscontinuedOperations
9918000 USD
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
364655000 USD
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
415513000 USD
CY2021Q1 avb Revenue From Assets Heldfor Sale Not Classified As Discontinued Operations
RevenueFromAssetsHeldforSaleNotClassifiedAsDiscontinuedOperations
2303000 USD
CY2020Q1 avb Revenue From Assets Heldfor Sale Not Classified As Discontinued Operations
RevenueFromAssetsHeldforSaleNotClassifiedAsDiscontinuedOperations
15253000 USD
CY2021Q1 avb Operating Expenses From Assets Held For Sale Not Classified As Discontinued Operations
OperatingExpensesFromAssetsHeldForSaleNotClassifiedAsDiscontinuedOperations
813000 USD
CY2020Q1 avb Operating Expenses From Assets Held For Sale Not Classified As Discontinued Operations
OperatingExpensesFromAssetsHeldForSaleNotClassifiedAsDiscontinuedOperations
5335000 USD
CY2021Q1 avb Disposal Group Not Discontinued Operation Net Operating Income From Assets Held For Sale Not Classified As Discontinued Operations
DisposalGroupNotDiscontinuedOperationNetOperatingIncomeFromAssetsHeldForSaleNotClassifiedAsDiscontinuedOperations
1490000 USD
CY2020Q1 avb Disposal Group Not Discontinued Operation Net Operating Income From Assets Held For Sale Not Classified As Discontinued Operations
DisposalGroupNotDiscontinuedOperationNetOperatingIncomeFromAssetsHeldForSaleNotClassifiedAsDiscontinuedOperations
9918000 USD
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
364655000 USD
CY2021Q1 avb Real Estate Gross At Carrying Value Excluding Gross Real Estate Assets Held For Sale
RealEstateGrossAtCarryingValueExcludingGrossRealEstateAssetsHeldForSale
24060003000 USD
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
415513000 USD
CY2020Q1 avb Real Estate Gross At Carrying Value Excluding Gross Real Estate Assets Held For Sale
RealEstateGrossAtCarryingValueExcludingGrossRealEstateAssetsHeldForSale
23272507000 USD
CY2021Q1 avb Real Estate Held For Sale Gross
RealEstateHeldForSaleGross
75814000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5247000 USD
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5039000 USD
CY2021Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
1903000 USD
CY2020Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
3178000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
877000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1007000 USD
CY2021Q1 avb Derivative Notional Amounts Settled During Period
DerivativeNotionalAmountsSettledDuringPeriod
150000000 USD
CY2021Q1 us-gaap Payments For Proceeds From Hedge Financing Activities
PaymentsForProceedsFromHedgeFinancingActivities
-6962000 USD
CY2020 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-2894000 USD
CY2021Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
2654000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-2367000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-1949000 USD

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