$AVB
AVALONBAY COMMUNITIES INC

2012 Q4 Form 10-Q Financial Statement

#000110465912073581 Filed on November 02, 2012

View on sec.gov

Income Statement

Concept 2012 Q4 2012 Q3 2011 Q3
Revenue $261.6M $257.6M $239.6M
YoY Change 7.6% 7.51% 7.8%
Cost Of Revenue $87.40M $92.90M $87.20M
YoY Change -0.34% 6.54% -2.13%
Gross Profit $163.1M $168.4M $143.5M
YoY Change 4.95% 17.35% 5.13%
Gross Profit Margin 62.35% 65.38% 59.9%
Selling, General & Admin $7.700M $8.400M $6.100M
YoY Change -1.28% 37.7% -12.86%
% of Gross Profit 4.72% 4.99% 4.25%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $72.30M $62.75M $60.90M
YoY Change 24.44% 3.04% 7.79%
% of Gross Profit 44.33% 37.26% 42.44%
Operating Expenses $79.10M $198.7M $215.7M
YoY Change 14.97% -7.9% 232.36%
Operating Profit $84.00M $177.4M -$72.20M
YoY Change -3.0% -345.64% -200.84%
Interest Expense -$25.00M $33.99M -$40.10M
YoY Change -30.56% -184.75% -10.09%
% of Operating Profit -29.76% 19.16%
Other Income/Expense, Net
YoY Change
Pretax Income $59.40M $82.40M $38.40M
YoY Change 22.98% 114.58% 46.56%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0% 0.0% 0.0%
Net Earnings $122.4M $86.75M $44.68M
YoY Change -62.81% 94.16% 80.88%
Net Earnings / Revenue 46.79% 33.68% 18.65%
Basic Earnings Per Share $1.19 $0.89 $0.49
Diluted Earnings Per Share $1.19 $0.89 $0.49
COMMON SHARES
Basic Shares Outstanding 97.71M shares 97.04M shares 91.39M shares
Diluted Shares Outstanding 97.55M shares 92.34M shares

Balance Sheet

Concept 2012 Q4 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.734B $664.0M $690.0M
YoY Change 343.11% -3.77% 201.31%
Cash & Equivalents $2.734B $664.1M $690.0M
Short-Term Investments
Other Short-Term Assets $144.0M $149.0M $151.0M
YoY Change 2.13% -1.32% 32.46%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $2.878B $813.0M $841.0M
YoY Change 279.68% -3.33% 145.19%
LONG-TERM ASSETS
Property, Plant & Equipment $8.015B $7.879B $7.257B
YoY Change 10.51% 8.57% 4.9%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $129.0M $139.0M $131.0M
YoY Change -11.03% 6.11% 39.36%
Other Assets $113.0M $112.0M $235.0M
YoY Change -62.83% -52.34% -20.88%
Total Long-Term Assets $8.282B $8.156B $7.648B
YoY Change 7.22% 6.64% 4.32%
TOTAL ASSETS
Total Short-Term Assets $2.878B $813.0M $841.0M
Total Long-Term Assets $8.282B $8.156B $7.648B
Total Assets $11.16B $8.969B $8.489B
YoY Change 31.57% 5.65% 10.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $53.00M $51.00M $36.00M
YoY Change 43.24% 41.67% -5.26%
Accrued Expenses $250.0M $247.0M $259.0M
YoY Change -10.71% -4.63% -1.89%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $451.0M $433.0M $417.0M
YoY Change 2.97% 3.84% 1.21%
LONG-TERM LIABILITIES
Long-Term Debt $3.851B $3.808B $3.785B
YoY Change 7.0% 0.61% -4.13%
Other Long-Term Liabilities $10.00M $0.00 $123.0M
YoY Change -72.97% -100.0%
Total Long-Term Liabilities $3.861B $3.808B $3.908B
YoY Change 6.19% -2.56% -1.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $451.0M $433.0M $417.0M
Total Long-Term Liabilities $3.861B $3.808B $3.908B
Total Liabilities $4.312B $4.240B $4.340B
YoY Change 5.86% -2.29% -0.8%
SHAREHOLDERS EQUITY
Retained Earnings -$142.3M -$153.8M
YoY Change -17.08%
Common Stock $1.144M $977.0K
YoY Change 20.17%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.837B $4.717B $4.149B
YoY Change
Total Liabilities & Shareholders Equity $11.16B $8.969B $8.489B
YoY Change 31.57% 5.65% 10.62%

Cashflow Statement

Concept 2012 Q4 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income $122.4M $86.75M $44.68M
YoY Change -62.81% 94.16% 80.88%
Depreciation, Depletion And Amortization $72.30M $62.75M $60.90M
YoY Change 24.44% 3.04% 7.79%
Cash From Operating Activities $165.6M $152.7M $89.10M
YoY Change 23.21% 71.38% 42.11%
INVESTING ACTIVITIES
Capital Expenditures -$249.3M -$302.9M -$197.8M
YoY Change 18.04% 53.13% 95.65%
Acquisitions
YoY Change
Other Investing Activities $108.7M $12.90M $21.40M
YoY Change -54.23% -39.72% -149.42%
Cash From Investing Activities -$140.7M -$289.9M -$176.5M
YoY Change -632.95% 64.25% 22.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.045B 443.1M 488.1M
YoY Change -978.6% -9.22% -875.99%
NET CHANGE
Cash From Operating Activities 165.6M 152.7M 89.10M
Cash From Investing Activities -140.7M -289.9M -176.5M
Cash From Financing Activities 2.045B 443.1M 488.1M
Net Change In Cash 2.069B 305.9M 400.7M
YoY Change -2978.16% -23.66% -377.3%
FREE CASH FLOW
Cash From Operating Activities $165.6M $152.7M $89.10M
Capital Expenditures -$249.3M -$302.9M -$197.8M
Free Cash Flow $414.9M $455.6M $286.9M
YoY Change 20.05% 58.8% 75.15%

Facts In Submission

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PaymentsToAcquireProductiveAssets
7911000 USD
avb Proceeds From Payments For Construction Payables
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-1770000 USD
avb Increase Decrease In Cash In Construction Escrows
IncreaseDecreaseInCashInConstructionEscrows
-13421000 USD
avb Payments To Acquire Proceeds From Businesses And Interest In Affiliates
PaymentsToAcquireProceedsFromBusinessesAndInterestInAffiliates
14163000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-469482000 USD
us-gaap Proceeds From Issuance Of Common Stock
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1037630000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
233427000 USD
avb Repayments Of Secured Debt Conventional And Tax Exempt
RepaymentsOfSecuredDebtConventionalAndTaxExempt
42648000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
5996000 USD
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
20000 USD
us-gaap Payments For Proceeds From Real Estate Partnership Investment Net
PaymentsForProceedsFromRealEstatePartnershipInvestmentNet
194000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
558875000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
384405000 USD
us-gaap Interest Paid Net
InterestPaidNet
129005000 USD
CY2010Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
305644000 USD
CY2011Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
690049000 USD
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
120952 shares
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
129176 shares
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
15491000 USD
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
14825000 USD
us-gaap Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
7558 shares
us-gaap Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
505 shares
us-gaap Stock Issued During Period Value Share Based Compensation Forfeited
StockIssuedDuringPeriodValueShareBasedCompensationForfeited
16000 USD
us-gaap Stock Issued During Period Value Share Based Compensation Forfeited
StockIssuedDuringPeriodValueShareBasedCompensationForfeited
393000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
115303 shares
avb Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodValue
3357000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
144827 shares
avb Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodValue
4258000 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Before Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesBeforeTax
23767000 USD
avb Unsecured Notes Basis Adjustment Qualifying As Hedges Before Tax Prepaid Expenses And Other Assets
UnsecuredNotesBasisAdjustmentQualifyingAsHedgesBeforeTaxPrepaidExpensesAndOtherAssets
-11000 USD
avb Unsecured Notes Basis Adjustment Qualifying As Hedges Before Tax Prepaid Expenses And Other Assets
UnsecuredNotesBasisAdjustmentQualifyingAsHedgesBeforeTaxPrepaidExpensesAndOtherAssets
-1324000 USD
avb Common Dividends Declared But Not Paid
CommonDividendsDeclaredButNotPaid
94778000 USD
avb Common Dividends Declared But Not Paid
CommonDividendsDeclaredButNotPaid
84815000 USD
us-gaap Stock Issued During Period Shares Share Based Compensation Gross
StockIssuedDuringPeriodSharesShareBasedCompensationGross
96592 shares
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
12883000 USD
us-gaap Stock Issued During Period Shares Share Based Compensation Gross
StockIssuedDuringPeriodSharesShareBasedCompensationGross
499461 shares
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
63147000 USD
us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
1830 shares
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
254000 USD
us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
2548 shares
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
310000 USD
us-gaap Stock Issued During Period Shares Conversion Of Units
StockIssuedDuringPeriodSharesConversionOfUnits
7500 shares
us-gaap Minority Interest Decrease From Redemptions
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365000 USD
CY2012Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
183 community
CY2012Q3 us-gaap Number Of Units In Real Estate Property
NumberOfUnitsInRealEstateProperty
53487 home
CY2012Q3 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
9 state
CY2012Q3 avb Number Of Communities With Apartments Under Reconstruction
NumberOfCommunitiesWithApartmentsUnderReconstruction
7 community
CY2012Q3 avb Number Of Apartment Homes Under Reconstruction
NumberOfApartmentHomesUnderReconstruction
1802 home
CY2012Q3 avb Number Of Owned Communities Under Construction
NumberOfOwnedCommunitiesUnderConstruction
22 community
CY2012Q3 avb Expected Aggregate Number Of Apartment Homes To Be Constructed
ExpectedAggregateNumberOfApartmentHomesToBeConstructed
6614 home
CY2012Q3 avb Additional Number Of Communities Owned That Can Be Developed
AdditionalNumberOfCommunitiesOwnedThatCanBeDeveloped
31 community
CY2012Q3 avb Estimated Number Of Apartment Homes In Communities Expected To Be Developed
EstimatedNumberOfApartmentHomesInCommunitiesExpectedToBeDeveloped
8837 home
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
97044603 shares
CY2012Q3 us-gaap Weighted Average Number Of Limited Partnership And General Partnership Unit Outstanding Basic And Diluted
WeightedAverageNumberOfLimitedPartnershipAndGeneralPartnershipUnitOutstandingBasicAndDiluted
7500 shares
CY2012Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
494466 shares
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
97546569 shares
CY2011Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
91388357 shares
CY2011Q3 us-gaap Weighted Average Number Of Limited Partnership And General Partnership Unit Outstanding Basic And Diluted
WeightedAverageNumberOfLimitedPartnershipAndGeneralPartnershipUnitOutstandingBasicAndDiluted
7707 shares
CY2011Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
944304 shares
CY2011Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
92340368 shares
CY2012Q3 us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
186000 USD
CY2012Q3 us-gaap Undistributed Earnings
UndistributedEarnings
86658000 USD
CY2011Q3 us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
206000 USD
CY2011Q3 us-gaap Undistributed Earnings
UndistributedEarnings
44618000 USD
CY2012Q3 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
-7000 USD
CY2012Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
86851000 USD
CY2011Q3 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
-7000 USD
CY2011Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
44831000 USD
us-gaap Weighted Average Number Of Shares Outstanding Basic
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95742676 shares
us-gaap Weighted Average Number Of Limited Partnership And General Partnership Unit Outstanding Basic And Diluted
WeightedAverageNumberOfLimitedPartnershipAndGeneralPartnershipUnitOutstandingBasicAndDiluted
7500 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
651382 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
96401558 shares
us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
1003000 USD
us-gaap Undistributed Earnings
UndistributedEarnings
300509000 USD
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
-21000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
301533000 USD
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
88312930 shares
us-gaap Weighted Average Number Of Limited Partnership And General Partnership Unit Outstanding Basic And Diluted
WeightedAverageNumberOfLimitedPartnershipAndGeneralPartnershipUnitOutstandingBasicAndDiluted
8559 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
878009 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
89199498 shares
us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
406000 USD
us-gaap Undistributed Earnings
UndistributedEarnings
118131000 USD
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
-20000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
118557000 USD
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
418177 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
320698 shares
avb Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Annual Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsAnnualForfeitureRate
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CY2012Q3 us-gaap Interest Costs Capitalized
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CY2011Q3 us-gaap Interest Costs Capitalized
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NotesPayable
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CY2012Q3 us-gaap Notes Payable
NotesPayable
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us-gaap Interest Costs Capitalized
InterestCostsCapitalized
37449000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
22962000 USD
CY2012Q3 us-gaap Long Term Debt
LongTermDebt
3809217000 USD
CY2011Q4 us-gaap Long Term Debt
LongTermDebt
3600025000 USD
CY2012Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
2393000 USD
CY2011Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
1802000 USD
CY2011Q4 avb Debt Basis Adjustment
DebtBasisAdjustment
11000 USD
CY2012Q3 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
1255000 USD
CY2011Q4 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
962000 USD
us-gaap Net Income Loss
NetIncomeLoss
301512000 USD
us-gaap Dividends Common Stock
DividendsCommonStock
280945000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
311230000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
15025000 USD
us-gaap Minority Interest Period Increase Decrease
MinorityInterestPeriodIncreaseDecrease
-3592000 USD
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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us-gaap Stock Issued During Period Shares Restricted Stock Award Forfeited
StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited
4027 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
115303 shares
CY2012Q3 avb Equity Method Investment Summarized Financial Information Real Estate Net
EquityMethodInvestmentSummarizedFinancialInformationRealEstateNet
1477756000 USD
CY2011Q4 avb Equity Method Investment Summarized Financial Information Real Estate Net
EquityMethodInvestmentSummarizedFinancialInformationRealEstateNet
1583397000 USD
CY2012Q3 avb Equity Method Investment Summarized Financial Information Assets Other Assets
EquityMethodInvestmentSummarizedFinancialInformationAssetsOtherAssets
88627000 USD
CY2011Q4 avb Equity Method Investment Summarized Financial Information Assets Other Assets
EquityMethodInvestmentSummarizedFinancialInformationAssetsOtherAssets
70233000 USD
CY2012Q3 us-gaap Equity Method Investment Summarized Financial Information Assets
EquityMethodInvestmentSummarizedFinancialInformationAssets
1566383000 USD
CY2011Q4 us-gaap Equity Method Investment Summarized Financial Information Assets
EquityMethodInvestmentSummarizedFinancialInformationAssets
1653630000 USD
CY2012Q3 avb Equity Method Investment Summarized Financial Information Liabilities Other Liabilities
EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesOtherLiabilities
26379000 USD
CY2011Q4 avb Equity Method Investment Summarized Financial Information Liabilities Other Liabilities
EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesOtherLiabilities
27335000 USD
CY2012Q3 us-gaap Equity Method Investment Summarized Financial Information Equity Or Capital
EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapital
506778000 USD
CY2011Q4 us-gaap Equity Method Investment Summarized Financial Information Equity Or Capital
EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapital
551866000 USD
CY2012Q3 us-gaap Equity Method Investment Summarized Financial Information Liabilities And Equity
EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity
1566383000 USD
CY2011Q4 us-gaap Equity Method Investment Summarized Financial Information Liabilities And Equity
EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity
1653630000 USD
CY2012Q3 us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
43168000 USD
CY2011Q3 us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
40953000 USD
us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
130300000 USD
us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
117407000 USD
CY2012Q3 avb Equity Method Investment Summarized Financial Information Operating And Other Expenses
EquityMethodInvestmentSummarizedFinancialInformationOperatingAndOtherExpenses
18733000 USD
CY2011Q3 avb Equity Method Investment Summarized Financial Information Operating And Other Expenses
EquityMethodInvestmentSummarizedFinancialInformationOperatingAndOtherExpenses
18829000 USD
avb Equity Method Investment Summarized Financial Information Operating And Other Expenses
EquityMethodInvestmentSummarizedFinancialInformationOperatingAndOtherExpenses
56533000 USD
avb Equity Method Investment Summarized Financial Information Operating And Other Expenses
EquityMethodInvestmentSummarizedFinancialInformationOperatingAndOtherExpenses
53474000 USD
CY2012Q3 avb Equity Method Investment Summarized Financial Information Interest Expense
EquityMethodInvestmentSummarizedFinancialInformationInterestExpense
12742000 USD
CY2011Q3 avb Equity Method Investment Summarized Financial Information Interest Expense
EquityMethodInvestmentSummarizedFinancialInformationInterestExpense
12818000 USD
avb Equity Method Investment Summarized Financial Information Interest Expense
EquityMethodInvestmentSummarizedFinancialInformationInterestExpense
38468000 USD
avb Equity Method Investment Summarized Financial Information Interest Expense
EquityMethodInvestmentSummarizedFinancialInformationInterestExpense
37596000 USD
CY2012Q3 avb Equity Method Investment Summarized Financial Information Depreciation And Amortization
EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization
11947000 USD
CY2011Q3 avb Equity Method Investment Summarized Financial Information Depreciation And Amortization
EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization
12363000 USD
avb Equity Method Investment Summarized Financial Information Depreciation And Amortization
EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization
37244000 USD
avb Equity Method Investment Summarized Financial Information Depreciation And Amortization
EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization
35702000 USD
CY2012Q3 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
44469000 USD
us-gaap Use Of Estimates
UseOfEstimates
<table style="font-size:10pt; font-family:'Times New Roman',times,serif;"> <tr> <td> <p style="MARGIN: 0in 0in 0pt"><i><font style="FONT-STYLE: italic; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt" size="2">Use of Estimates</font></i></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt" size="2">&#160;</font></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt" size="2">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.&#160; Actual results could differ from those estimates.</font></p></td></tr></table>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<table style="font-size:10pt; font-family:'Times New Roman',times,serif;"> <tr> <td> <p style="MARGIN: 0in 0in 0pt"><i><font style="FONT-STYLE: italic; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt" size="2">Reclassifications</font></i></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt" size="2">&#160;</font></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt" size="2">Certain reclassifications have been made to amounts in prior period financial statements to conform to current period presentations.</font></p></td></tr></table>
dei Entity Registrant Name
EntityRegistrantName
AVALONBAY COMMUNITIES INC
dei Entity Central Index Key
EntityCentralIndexKey
0000915912
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2012-09-30
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
CY2012Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
97706463 shares
CY2012Q3 us-gaap Land
Land
1438741000 USD
CY2011Q4 us-gaap Land
Land
1336225000 USD
CY2012Q3 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
7171769000 USD
CY2011Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
6681136000 USD
CY2012Q3 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
251497000 USD
CY2011Q4 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
226359000 USD
CY2012Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
8862007000 USD
CY2011Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
8243720000 USD
CY2012Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
2013104000 USD
CY2011Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
1820381000 USD
CY2012Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
6848903000 USD
CY2011Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
6423339000 USD
CY2012Q3 us-gaap Construction In Progress Gross
ConstructionInProgressGross
725450000 USD
CY2011Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
597346000 USD
CY2012Q3 us-gaap Land Available For Development
LandAvailableForDevelopment
304295000 USD
CY2011Q4 us-gaap Land Available For Development
LandAvailableForDevelopment
325918000 USD
CY2011Q3 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
9388000 USD
us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
55512000 USD
us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
3080000 USD
CY2012Q3 avb Expensed Costs Related To Abandoned Pursuits
ExpensedCostsRelatedToAbandonedPursuits
608000 USD
CY2011Q3 avb Expensed Costs Related To Abandoned Pursuits
ExpensedCostsRelatedToAbandonedPursuits
633000 USD
avb Expensed Costs Related To Abandoned Pursuits
ExpensedCostsRelatedToAbandonedPursuits
1749000 USD
avb Expensed Costs Related To Abandoned Pursuits
ExpensedCostsRelatedToAbandonedPursuits
2636000 USD
CY2011Q3 us-gaap Depreciation And Amortization Discontinued Operations
DepreciationAndAmortizationDiscontinuedOperations
1843000 USD
us-gaap Depreciation And Amortization Discontinued Operations
DepreciationAndAmortizationDiscontinuedOperations
895000 USD
us-gaap Depreciation And Amortization Discontinued Operations
DepreciationAndAmortizationDiscontinuedOperations
6002000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8394000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7614000 USD
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
3877000 USD
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
4118000 USD
CY2012Q3 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
0 USD
CY2011Q3 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
269719000 USD
CY2012Q3 avb Equity Method Investment Summarized Financial Information Mortgage Notes Payable And Credit Facility
EquityMethodInvestmentSummarizedFinancialInformationMortgageNotesPayableAndCreditFacility
1033226000 USD
CY2011Q4 avb Equity Method Investment Summarized Financial Information Mortgage Notes Payable And Credit Facility
EquityMethodInvestmentSummarizedFinancialInformationMortgageNotesPayableAndCreditFacility
1074429000 USD
avb Repayment Of Tax Exempt Bond
RepaymentOfTaxExemptBond
93440000 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Before Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesBeforeTax
79691000 USD
CY2012Q3 us-gaap Profit Loss
ProfitLoss
86747000 USD
CY2011Q3 us-gaap Profit Loss
ProfitLoss
44677000 USD
us-gaap Profit Loss
ProfitLoss
301178000 USD
us-gaap Profit Loss
ProfitLoss
118405000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
55479000 USD
CY2012Q3 avb Net Investments In Real Estate
NetInvestmentsInRealEstate
7878648000 USD
CY2011Q4 avb Net Investments In Real Estate
NetInvestmentsInRealEstate
7425030000 USD
CY2012Q3 us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
44723000 USD
us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
57457000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
13449000 USD
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
21391000 USD
us-gaap Payments To Acquire Other Real Estate
PaymentsToAcquireOtherRealEstate
105904000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
1010000 USD
us-gaap Payments To Acquire Other Real Estate
PaymentsToAcquireOtherRealEstate
46275000 USD
avb Payments To Acquire Joint Venture Partner Equity Interest
PaymentsToAcquireJointVenturePartnerEquityInterest
6570000 USD
CY2012Q3 us-gaap Line Of Credit
LineOfCredit
0 USD
avb Minority Interest Increase Decrease
MinorityInterestIncreaseDecrease
3350000 USD
avb Minority Interest Increase Decrease From Put Option Redemption Value Adjustment
MinorityInterestIncreaseDecreaseFromPutOptionRedemptionValueAdjustment
480000 USD
avb Minority Interest Increase Decrease From Put Option Redemption Value Adjustment
MinorityInterestIncreaseDecreaseFromPutOptionRedemptionValueAdjustment
2306000 USD
us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
-480000 USD
CY2011Q3 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
14052000 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
14052000 USD
CY2012Q3 us-gaap Business Combination Step Acquisition Equity Interest In Acquiree Remeasurement Gain
BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGain
14194000 USD
us-gaap Business Combination Step Acquisition Equity Interest In Acquiree Remeasurement Gain
BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGain
14194000 USD
CY2012Q3 avb Debt Basis Adjustment
DebtBasisAdjustment
0 USD
CY2011Q3 us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
12445000 USD
us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
12445000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
4122000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
8548000 USD
us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
7484000 USD
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
95329000 USD
avb Increase Decrease In Cash In Operating Escrows
IncreaseDecreaseInCashInOperatingEscrows
-6644000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
8069000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-16353000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
375173000 USD
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
567867000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
1094000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
182225000 USD
avb Proceeds From Payments For Construction Payables
ProceedsFromPaymentsForConstructionPayables
-14419000 USD
avb Increase Decrease In Cash In Construction Escrows
IncreaseDecreaseInCashInConstructionEscrows
-16944000 USD
avb Payments To Acquire Proceeds From Businesses And Interest In Affiliates
PaymentsToAcquireProceedsFromBusinessesAndInterestInAffiliates
8006000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
326653000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
270866000 USD
avb Repayments Of Secured Debt Conventional And Tax Exempt
RepaymentsOfSecuredDebtConventionalAndTaxExempt
106255000 USD
us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
179400000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
6744000 USD
avb Payments To Acquire Joint Venture Partner Equity Interest
PaymentsToAcquireJointVenturePartnerEquityInterest
3350000 USD
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
22000 USD
us-gaap Payments For Proceeds From Real Estate Partnership Investment Net
PaymentsForProceedsFromRealEstatePartnershipInvestmentNet
247000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
154839000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
47280000 USD
us-gaap Interest Paid Net
InterestPaidNet
101121000 USD
CY2011Q3 us-gaap Disposal Group Including Discontinued Operation Rental Income
DisposalGroupIncludingDiscontinuedOperationRentalIncome
9469000 USD
us-gaap Disposal Group Including Discontinued Operation Rental Income
DisposalGroupIncludingDiscontinuedOperationRentalIncome
6986000 USD
us-gaap Disposal Group Including Discontinued Operation Rental Income
DisposalGroupIncludingDiscontinuedOperationRentalIncome
27832000 USD
CY2011Q3 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
5988000 USD
us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
2486000 USD
us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
17277000 USD
CY2011Q3 us-gaap Disposal Group Including Discontinued Operation Interest Expense
DisposalGroupIncludingDiscontinuedOperationInterestExpense
1311000 USD
us-gaap Disposal Group Including Discontinued Operation Interest Expense
DisposalGroupIncludingDiscontinuedOperationInterestExpense
133000 USD
us-gaap Disposal Group Including Discontinued Operation Interest Expense
DisposalGroupIncludingDiscontinuedOperationInterestExpense
3922000 USD
avb Disposal Group Including Discontinued Operation Gain Loss On Extinguishment Of Debt
DisposalGroupIncludingDiscontinuedOperationGainLossOnExtinguishmentOfDebt
-602000 USD

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