2022 Q4 Form 10-Q Financial Statement

#000095017022021585 Filed on November 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $22.03M $22.60M $17.68M
YoY Change 10.28% 27.84% 27.76%
Cost Of Revenue $11.71M $8.036M $5.663M
YoY Change 105.59% 41.89% 10.93%
Gross Profit $10.32M $14.57M $12.02M
YoY Change -27.73% 21.22% 37.6%
Gross Profit Margin 46.85% 64.45% 67.97%
Selling, General & Admin $6.630M $6.026M $5.385M
YoY Change 34.92% 11.9% 8.39%
% of Gross Profit 64.24% 41.36% 44.81%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $660.0K $688.5K $680.9K
YoY Change -3.46% 1.11% -5.4%
% of Gross Profit 6.4% 4.73% 5.67%
Operating Expenses $7.290M $6.714M $6.066M
YoY Change 9.32% 10.69% -39.11%
Operating Profit $3.175M $7.854M $12.99M
YoY Change -59.57% -39.53% -1219.67%
Interest Expense $140.0K $10.58M $6.955M
YoY Change -52.3% 52.14%
% of Operating Profit 4.41% 134.71% 53.55%
Other Income/Expense, Net
YoY Change
Pretax Income $3.170M $18.44M $12.91M
YoY Change -59.83% 42.83% -1150.88%
Income Tax -$10.00K -$81.52K -$81.14K
% Of Pretax Income -0.32% -0.44% -0.63%
Net Earnings $9.560M $18.52M $12.99M
YoY Change 21.73% 42.56% -1219.67%
Net Earnings / Revenue 43.4% 81.92% 73.46%
Basic Earnings Per Share $0.09 $0.79 $0.57
Diluted Earnings Per Share $0.09 $0.79 $642.5K
COMMON SHARES
Basic Shares Outstanding 22.25M
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $51.20M $103.2M $91.54M
YoY Change -25.02% 12.74% 78.93%
Cash & Equivalents $51.19M $103.2M $91.54M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $62.80M $112.6M $101.2M
YoY Change -18.97% 11.26% 69.8%
LONG-TERM ASSETS
Property, Plant & Equipment $36.55M $58.60M $60.23M
YoY Change -38.78% -2.71% 0.92%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $115.8M $103.1M $89.64M
YoY Change 7.42% 15.01% -9.61%
Other Assets $50.40M $50.94M $85.68M
YoY Change -41.39% -40.55% 7.46%
Total Long-Term Assets $1.504B $1.337B $1.183B
YoY Change 14.97% 13.03% 6.12%
TOTAL ASSETS
Total Short-Term Assets $62.80M $112.6M $101.2M
Total Long-Term Assets $1.504B $1.337B $1.183B
Total Assets $1.567B $1.450B $1.285B
YoY Change 13.08% 12.89% 9.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.200M $1.784M $214.5K
YoY Change -2.76% 731.66% -49.58%
Accrued Expenses $12.10M $12.58M $10.23M
YoY Change 15.42% 22.94% 25.89%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $164.5M $3.672M $1.946M
YoY Change 539.33% 88.69% -85.88%
Total Short-Term Liabilities $188.7M $26.50M $20.10M
YoY Change 275.9% 31.84% -22.69%
LONG-TERM LIABILITIES
Long-Term Debt $951.6M $1.016B $790.6M
YoY Change 9.77% 28.52% 14.32%
Other Long-Term Liabilities $8.400M $1.900M $1.700M
YoY Change 342.11% 11.76% 21.43%
Total Long-Term Liabilities $960.0M $1.016B $790.6M
YoY Change 10.74% 28.52% 14.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $188.7M $26.50M $20.10M
Total Long-Term Liabilities $960.0M $1.016B $790.6M
Total Liabilities $1.149B $1.044B $812.6M
YoY Change 24.99% 28.54% 13.01%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $418.4M $405.6M $471.9M
YoY Change
Total Liabilities & Shareholders Equity $1.567B $1.450B $1.285B
YoY Change 13.08% 12.89% 9.35%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income $9.560M $18.52M $12.99M
YoY Change 21.73% 42.56% -1219.67%
Depreciation, Depletion And Amortization $660.0K $688.5K $680.9K
YoY Change -3.46% 1.11% -5.4%
Cash From Operating Activities $1.410M $5.405M $7.736M
YoY Change -86.75% -30.13% 109.06%
INVESTING ACTIVITIES
Capital Expenditures $1.390M -$201.2K $2.416M
YoY Change -2860.68% -108.33% -1291.05%
Acquisitions
YoY Change
Other Investing Activities -$166.9M -$13.71M -$10.75M
YoY Change 35.84% 27.61% -59.63%
Cash From Investing Activities -$168.2M -$13.91M -$8.330M
YoY Change 36.91% 67.04% -68.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 110.4M 7.945M 39.53M
YoY Change 23.54% -79.9% -66.06%
NET CHANGE
Cash From Operating Activities 1.410M 5.405M 7.736M
Cash From Investing Activities -168.2M -13.91M -8.330M
Cash From Financing Activities 110.4M 7.945M 39.53M
Net Change In Cash -56.41M -564.6K 38.93M
YoY Change 146.68% -101.45% -58.29%
FREE CASH FLOW
Cash From Operating Activities $1.410M $5.405M $7.736M
Capital Expenditures $1.390M -$201.2K $2.416M
Free Cash Flow $20.00K $5.606M $5.320M
YoY Change -99.81% 5.38% 36.29%

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CY2022Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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CY2022Q3 atax Other Comprehensive Income Unrealized Holding Gain Loss On Securities
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CY2022Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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CY2022Q3 us-gaap Partners Capital Including Portion Attributable To Noncontrolling Interest
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CY2021Q1 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
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CY2021Q1 atax Net Income Loss Attributable To Common Stockholders And Noncontrolling Interest Basic
NetIncomeLossAttributableToCommonStockholdersAndNoncontrollingInterestBasic
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CY2021Q1 us-gaap Partners Capital Account Unit Based Compensation
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CY2021Q1 atax Other Comprehensive Income Unrealized Holding Gain Loss On Securities
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CY2021Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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CY2021Q1 us-gaap Partners Capital Including Portion Attributable To Noncontrolling Interest
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DividendsPayableAmountPerShare
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CY2021Q2 atax Net Income Loss Attributable To Common Stockholders And Noncontrolling Interest Basic
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CY2021Q2 us-gaap Partners Capital Account Treasury Units Purchases
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CY2021Q2 us-gaap Partners Capital Account Unit Based Compensation
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CY2021Q2 atax Other Comprehensive Income Unrealized Holding Gain Loss On Securities
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CY2021Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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DividendsPayableAmountPerShare
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CY2021Q3 atax Net Income Loss Attributable To Common Stockholders And Noncontrolling Interest Basic
NetIncomeLossAttributableToCommonStockholdersAndNoncontrollingInterestBasic
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CY2021Q3 us-gaap Partners Capital Account Treasury Units Reissued
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CY2021Q3 us-gaap Partners Capital Account Unit Based Compensation
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CY2021Q3 atax Other Comprehensive Income Unrealized Holding Gain Loss On Securities
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CY2021Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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CY2021Q3 us-gaap Partners Capital Including Portion Attributable To Noncontrolling Interest
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us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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us-gaap Depreciation Depletion And Amortization
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
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us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
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atax Gain Or Loss On Sale Of Investment In Unconsolidated Entity
GainOrLossOnSaleOfInvestmentInUnconsolidatedEntity
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atax Gain Or Loss On Sale Of Investment In Unconsolidated Entity
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atax Contingent Interest Realized On Investing
ContingentInterestRealizedOnInvesting
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us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
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atax Provision For Property Loan Loss
ProvisionForPropertyLoanLoss
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us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
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us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
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us-gaap Unrealized Gain Loss On Derivatives
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us-gaap Restricted Stock Expense
RestrictedStockExpense
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us-gaap Restricted Stock Expense
RestrictedStockExpense
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atax Amortization Of Bond Discount Premium And Origination Fee
AmortizationOfBondDiscountPremiumAndOriginationFee
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atax Amortization Of Bond Discount Premium And Origination Fee
AmortizationOfBondDiscountPremiumAndOriginationFee
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us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
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us-gaap Amortization Of Debt Discount Premium
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atax Deferred Income Tax Expense Benefit And Income Tax Payable Receivables
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atax Deferred Income Tax Expense Benefit And Income Tax Payable Receivables
DeferredIncomeTaxExpenseBenefitAndIncomeTaxPayableReceivables
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atax Change In Preferred Return Receivable From Unconsolidated Entity
ChangeInPreferredReturnReceivableFromUnconsolidatedEntity
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atax Change In Preferred Return Receivable From Unconsolidated Entity
ChangeInPreferredReturnReceivableFromUnconsolidatedEntity
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atax Accrued Interest Added To Property Loan Principal
AccruedInterestAddedToPropertyLoanPrincipal
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us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
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us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
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us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
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us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
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us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
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us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
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us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
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atax Acquisition Of And Advances On Taxable Mortgage Revenue Bonds
AcquisitionOfAndAdvancesOnTaxableMortgageRevenueBonds
10675750
atax Acquisition Of And Advances On Taxable Mortgage Revenue Bonds
AcquisitionOfAndAdvancesOnTaxableMortgageRevenueBonds
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atax Advances On Governmental Issuer Loan
AdvancesOnGovernmentalIssuerLoan
96507805
atax Advances On Governmental Issuer Loan
AdvancesOnGovernmentalIssuerLoan
101122781
atax Advances On Taxable Governmental Issuer Loan
AdvancesOnTaxableGovernmentalIssuerLoan
3000000
atax Advances On Taxable Governmental Issuer Loan
AdvancesOnTaxableGovernmentalIssuerLoan
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atax Payments For Property Loans
PaymentsForPropertyLoans
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atax Payments For Property Loans
PaymentsForPropertyLoans
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us-gaap Payments For Advance To Affiliate
PaymentsForAdvanceToAffiliate
23124223
us-gaap Payments For Advance To Affiliate
PaymentsForAdvanceToAffiliate
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atax Proceeds From Sale Of Investment In Unconsolidated Entity
ProceedsFromSaleOfInvestmentInUnconsolidatedEntity
66645440
atax Proceeds From Sale Of Investment In Unconsolidated Entity
ProceedsFromSaleOfInvestmentInUnconsolidatedEntity
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atax Proceeds From Return Of Investments In Unconsolidated Entities
ProceedsFromReturnOfInvestmentsInUnconsolidatedEntities
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us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
101258367
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
45908244
atax Proceeds From Taxable Mortgage Revenue Bonds
ProceedsFromTaxableMortgageRevenueBonds
7848
atax Proceeds From Taxable Mortgage Revenue Bonds
ProceedsFromTaxableMortgageRevenueBonds
7174
atax Proceeds From Property Loans
ProceedsFromPropertyLoans
30332123
atax Proceeds From Property Loans
ProceedsFromPropertyLoans
191264
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-110369059
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-64592592
atax Payment Of Distributions To Partners
PaymentOfDistributionsToPartners
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atax Payment Of Distributions To Partners
PaymentOfDistributionsToPartners
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atax Repurchase Of Beneficial Unit Certificates
RepurchaseOfBeneficialUnitCertificates
1363736
atax Proceeds From Sale Of Beneficial Unit Certificates
ProceedsFromSaleOfBeneficialUnitCertificates
33321250
atax Payment Of Offering Costs Related To Sale Of Beneficial Unit Certificates
PaymentOfOfferingCostsRelatedToSaleOfBeneficialUnitCertificates
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us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
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us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
116800000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
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us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
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us-gaap Repayments Of Debt
RepaymentsOfDebt
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us-gaap Repayments Of Debt
RepaymentsOfDebt
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us-gaap Proceeds From Unsecured Lines Of Credit
ProceedsFromUnsecuredLinesOfCredit
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us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
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us-gaap Proceeds From Secured Lines Of Credit
ProceedsFromSecuredLinesOfCredit
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us-gaap Proceeds From Secured Lines Of Credit
ProceedsFromSecuredLinesOfCredit
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atax Repayments Of Secured Lines Of Credit
RepaymentsOfSecuredLinesOfCredit
72514000
atax Increase Decrease In Security Deposit Liability Related To Restricted Cash
IncreaseDecreaseInSecurityDepositLiabilityRelatedToRestrictedCash
-44728
atax Increase Decrease In Security Deposit Liability Related To Restricted Cash
IncreaseDecreaseInSecurityDepositLiabilityRelatedToRestrictedCash
66694
atax Proceeds From Exchange Of Redeemable Preferred Units
ProceedsFromExchangeOfRedeemablePreferredUnits
20000000
atax Payments For Exchange Of Redeemable Preferred Units
PaymentsForExchangeOfRedeemablePreferredUnits
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us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
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us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
149053628
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Income Taxes Paid
IncomeTaxesPaid
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us-gaap Income Taxes Paid
IncomeTaxesPaid
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atax Distributions Declared But Not Paid For Beneficial Unit Certificates And General Partner
DistributionsDeclaredButNotPaidForBeneficialUnitCertificatesAndGeneralPartner
8312836
atax Distributions Declared But Not Paid For Beneficial Unit Certificates And General Partner
DistributionsDeclaredButNotPaidForBeneficialUnitCertificatesAndGeneralPartner
7831176
atax Distributions Declared But Not Paid For Preferred Units
DistributionsDeclaredButNotPaidForPreferredUnits
708750
atax Distributions Declared But Not Paid For Preferred Units
DistributionsDeclaredButNotPaidForPreferredUnits
708750
atax Investment In Previously Unconsolidated Entity Consolidated As Land
InvestmentInPreviouslyUnconsolidatedEntityConsolidatedAsLand
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us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1970
atax Deferred Financing Costs Financed Through Accounts Payable
DeferredFinancingCostsFinancedThroughAccountsPayable
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atax Deferred Financing Costs Financed Through Accounts Payable
DeferredFinancingCostsFinancedThroughAccountsPayable
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CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
103203582
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2022Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
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CY2021Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
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CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
149053628
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
174800135
atax Number Of Partnership Preferred Units
NumberOfPartnershipPreferredUnits
3
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
81339573
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
22740549
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
58599024
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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us-gaap Proceeds From Divestiture Of Real Estate Partnership
ProceedsFromDivestitureOfRealEstatePartnership
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us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
659132
atax Gain Or Loss On Sale Of Investment In Unconsolidated Entity
GainOrLossOnSaleOfInvestmentInUnconsolidatedEntity
39664032
us-gaap Proceeds From Divestiture Of Real Estate Partnership
ProceedsFromDivestitureOfRealEstatePartnership
55132201
us-gaap Investment Income Interest And Dividend
InvestmentIncomeInterestAndDividend
4614160
atax Gain Or Loss On Sale Of Investment In Unconsolidated Entity
GainOrLossOnSaleOfInvestmentInUnconsolidatedEntity
15227239
CY2022Q3 atax Rate For Administration Fees
RateForAdministrationFees
0.0045
CY2021Q3 atax Rate For Administration Fees
RateForAdministrationFees
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us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;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:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Estimates and assumptions</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires the Partnership to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The accompanying interim unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with such SEC rules and regulations, although the Partnership believes that the disclosures are adequate to make the information presented not misleading.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Partnership’s condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2021. These condensed consolidated financial statements and notes have been prepared consistently with the 2021 Form 10-K. In the opinion of management, all adjustments (consisting of normal and recurring accruals) necessary to present fairly the Partnership’s financial position as of September 30, 2022, and the results of operations for the interim periods presented, have been made. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year. The accompanying condensed consolidated balance sheet as of December 31, 2021 was derived from the audited annual consolidated financial statements but does not contain all the footnote disclosures from the annual consolidated financial statements.</span></p>
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
20701922
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
59707632
CY2022Q3 us-gaap Equity Method Investments
EquityMethodInvestments
103103246
CY2021Q4 us-gaap Equity Method Investments
EquityMethodInvestments
107793522
CY2022Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2021Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2022Q3 atax Number Of Variable Interest Entities
NumberOfVariableInterestEntities
31
CY2021Q4 atax Number Of Variable Interest Entities
NumberOfVariableInterestEntities
30
CY2022Q3 atax Available For Sale Security And Property Loan Receivable Maximum Exposure
AvailableForSaleSecurityAndPropertyLoanReceivableMaximumExposure
561500105
CY2021Q4 atax Available For Sale Security And Property Loan Receivable Maximum Exposure
AvailableForSaleSecurityAndPropertyLoanReceivableMaximumExposure
393880548
CY2022Q3 srt Mortgage Loans On Real Estate Face Amount Of Mortgages
MortgageLoansOnRealEstateFaceAmountOfMortgages
20307000
CY2021Q3 atax Redemption Of Contingent Interest Income
RedemptionOfContingentInterestIncome
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CY2022Q3 us-gaap Real Estate Investment Partnership Revenue
RealEstateInvestmentPartnershipRevenue
4732250
CY2021Q3 us-gaap Real Estate Investment Partnership Revenue
RealEstateInvestmentPartnershipRevenue
6486029
us-gaap Real Estate Investment Partnership Revenue
RealEstateInvestmentPartnershipRevenue
16847354
us-gaap Real Estate Investment Partnership Revenue
RealEstateInvestmentPartnershipRevenue
17444805
CY2022Q3 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
23231887
CY2021Q3 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
17646543
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
87835109
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
42273235
CY2022Q3 us-gaap Net Income Loss From Real Estate Investment Partnership
NetIncomeLossFromRealEstateInvestmentPartnership
23309924
CY2021Q3 us-gaap Net Income Loss From Real Estate Investment Partnership
NetIncomeLossFromRealEstateInvestmentPartnership
17591694
us-gaap Net Income Loss From Real Estate Investment Partnership
NetIncomeLossFromRealEstateInvestmentPartnership
88447049
us-gaap Net Income Loss From Real Estate Investment Partnership
NetIncomeLossFromRealEstateInvestmentPartnership
38102642
CY2022Q3 atax Property Loan Receivable Gross
PropertyLoanReceivableGross
124362490
CY2022Q3 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
495000
CY2022Q3 us-gaap Notes Receivable Net
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123867490
CY2021Q4 atax Property Loan Receivable Gross
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76850616
CY2021Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
8749348
CY2021Q4 us-gaap Notes Receivable Net
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68101268
CY2022Q2 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
7888815
CY2021Q2 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
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CY2021Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
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CY2020Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
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atax Provision For Property Loan Loss
ProvisionForPropertyLoanLoss
330116
CY2022Q3 us-gaap Allowance For Loan And Lease Losses Adjustments Net
AllowanceForLoanAndLeaseLossesAdjustmentsNet
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us-gaap Allowance For Loan And Lease Losses Adjustments Net
AllowanceForLoanAndLeaseLossesAdjustmentsNet
-8254348
CY2022Q3 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
495000
CY2021Q3 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
8635162
CY2022Q3 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
495000
CY2021Q3 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
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atax Debt Instrument Redemption Paydown Applied
DebtInstrumentRedemptionPaydownApplied
25690000
CY2021Q3 atax Percentage Of Referral Fee To Be Received In Original Principal Amount
PercentageOfReferralFeeToBeReceivedInOriginalPrincipalAmount
0.0025
CY2022Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0
CY2022Q3 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
1085136
CY2021Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
1349097
CY2022Q3 us-gaap Interest Rate Derivatives At Fair Value Net
InterestRateDerivativesAtFairValueNet
6855221
CY2021Q4 us-gaap Interest Rate Derivatives At Fair Value Net
InterestRateDerivativesAtFairValueNet
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CY2022Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
13528034
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
3428443
CY2022Q3 atax Taxable Governmental Issuer Loans
TaxableGovernmentalIssuerLoans
4000000
CY2021Q4 atax Taxable Governmental Issuer Loans
TaxableGovernmentalIssuerLoans
1000000
CY2021Q4 atax Long Term Purchase Commitments Fair Value
LongTermPurchaseCommitmentsFairValue
964404
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1598037
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1619714
CY2022Q3 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
2650240
CY2021Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
2157809
CY2022Q3 us-gaap Other Assets
OtherAssets
29716668
CY2021Q4 us-gaap Other Assets
OtherAssets
10862885
CY2022Q3 atax Taxable Mortgage Revenue Bonds With Fair Value Held In Trust
TaxableMortgageRevenueBondsWithFairValueHeldInTrust
9000000.0
CY2022Q3 atax Taxable Mortgage Revenue Bond And Governmental Issuer Loans Initial Principal Acquired
TaxableMortgageRevenueBondAndGovernmentalIssuerLoansInitialPrincipalAcquired
7625000
CY2022Q3 atax Debt Financing Liabilities Net
DebtFinancingLiabilitiesNet
962615366
CY2022Q3 us-gaap Cash Collateral For Borrowed Securities
CashCollateralForBorrowedSecurities
4500000
CY2021Q4 atax Debt Financing Liabilities Net
DebtFinancingLiabilitiesNet
820078714
atax Termination Occur Due To Percentage Decrease By Partners Net Assets In One Quarter
TerminationOccurDueToPercentageDecreaseByPartnersNetAssetsInOneQuarter
0.25
atax Termination Occur Due To Percentage Decrease By Partners Net Assets In Over One Year
TerminationOccurDueToPercentageDecreaseByPartnersNetAssetsInOverOneYear
0.35
atax Debt Instrument Redemption Paydown Applied
DebtInstrumentRedemptionPaydownApplied
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atax Reimbursement Of Franchise Margin Taxes Paid On Behalf Of Unconsolidated Entities
ReimbursementOfFranchiseMarginTaxesPaidOnBehalfOfUnconsolidatedEntities
314000
atax Reimbursement Of Franchise Margin Taxes Paid On Behalf Of Unconsolidated Entities
ReimbursementOfFranchiseMarginTaxesPaidOnBehalfOfUnconsolidatedEntities
144000
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RelatedPartyTransactionAmountsOfTransaction
9750
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
108000
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
9750
atax Rate For Administration Fees
RateForAdministrationFees
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AccountsPayableCurrentAndNoncurrent
1784160
CY2021Q4 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
1234111
CY2022Q3 us-gaap Accrued Liabilities Current And Noncurrent
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4462978
CY2021Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
4102381
CY2022Q3 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
5967620
CY2021Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
4229119
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2152660
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
2151991
CY2022Q3 atax Bond Purchase Commitment Fair Value Current And Noncurrent
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82911
CY2022Q3 us-gaap Other Liabilities
OtherLiabilities
1915793
CY2021Q4 us-gaap Other Liabilities
OtherLiabilities
1946610
CY2022Q3 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
16366122
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
13664212
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
35657
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
143561
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
144706
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
147598
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
150548
CY2022Q3 atax Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
4219127
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
4841197
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2688537
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
2152660
CY2022Q3 atax Debt Financing Current Maturities
DebtFinancingCurrentMaturities
1675596
CY2022Q3 atax Debt Financing Maturities Repayment Of Principal In Year Two
DebtFinancingMaturitiesRepaymentOfPrincipalInYearTwo
230681816
CY2022Q3 atax Debt Financing Maturities Repayments Of Principal In Year Three
DebtFinancingMaturitiesRepaymentsOfPrincipalInYearThree
269559152
CY2022Q3 atax Debt Financing Maturities Repayments Of Principal In Year Four
DebtFinancingMaturitiesRepaymentsOfPrincipalInYearFour
177359289
CY2022Q3 atax Debt Financing Maturities Repayments Of Principal In Year Five
DebtFinancingMaturitiesRepaymentsOfPrincipalInYearFive
3544863
CY2022Q3 atax Debt Financing Maturities Repayments Of Principal After Year Five
DebtFinancingMaturitiesRepaymentsOfPrincipalAfterYearFive
282537017
CY2022Q3 atax Debt Financing Carrying Value
DebtFinancingCarryingValue
965357733
CY2022Q3 atax Debt Unamortized Deferred Financing Costs And Premium
DebtUnamortizedDeferredFinancingCostsAndPremium
2742367
CY2022Q3 atax Debt Financing Liabilities Net
DebtFinancingLiabilitiesNet
962615366
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
26230855
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
26824543
CY2022Q3 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0452
CY2022Q3 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
6471663
CY2022Q3 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
224852
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
292328
CY2022Q3 us-gaap Derivative Liability Notional Amount
DerivativeLiabilityNotionalAmount
102800000
CY2022Q3 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
158706
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
51090
CY2022Q3 atax Partnerships Commitments Amount
PartnershipsCommitmentsAmount
554917871
CY2022Q3 atax Remaining Partnerships Commitments Amount
RemainingPartnershipsCommitmentsAmount
375734668
us-gaap Partners Capital Account Units Sold In Private Placement
PartnersCapitalAccountUnitsSoldInPrivatePlacement
9450000
us-gaap Partners Capital Account Private Placement Of Units
PartnersCapitalAccountPrivatePlacementOfUnits
94500000
CY2022Q3 atax Reimbursement Of Franchise Margin Taxes Paid On Behalf Of Unconsolidated Entities
ReimbursementOfFranchiseMarginTaxesPaidOnBehalfOfUnconsolidatedEntities
139000
CY2021Q3 atax Reimbursement Of Franchise Margin Taxes Paid On Behalf Of Unconsolidated Entities
ReimbursementOfFranchiseMarginTaxesPaidOnBehalfOfUnconsolidatedEntities
117000
atax Percentage Of Referral Fee To Be Received In Original Principal Amount
PercentageOfReferralFeeToBeReceivedInOriginalPrincipalAmount
0.0025
atax Percentage Of Referral Fee To Be Received In Original Principal Amount
PercentageOfReferralFeeToBeReceivedInOriginalPrincipalAmount
0.0025
atax Rate For Administration Fees
RateForAdministrationFees
0.0045
atax Rate For Administration Fees
RateForAdministrationFees
0.0045
CY2022Q3 atax Rate For Administration Fees
RateForAdministrationFees
0.0045
CY2021Q3 atax Rate For Administration Fees
RateForAdministrationFees
0.0045
CY2022Q3 us-gaap Related Party Transaction Due From To Related Party
RelatedPartyTransactionDueFromToRelatedParty
311000
CY2021Q4 us-gaap Related Party Transaction Due From To Related Party
RelatedPartyTransactionDueFromToRelatedParty
149000
CY2022Q3 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
977000
CY2021Q4 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
417000
CY2022Q3 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
715369774
CY2021Q4 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
798246109
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4
CY2022Q3 us-gaap Revenues
Revenues
22604404
CY2021Q3 us-gaap Revenues
Revenues
17681901
us-gaap Revenues
Revenues
59043742
us-gaap Revenues
Revenues
48475885
CY2022Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-8035982
CY2021Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-5663452
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-18750079
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-16248023
CY2022Q3 us-gaap Depreciation
Depreciation
688488
CY2021Q3 us-gaap Depreciation
Depreciation
680925
us-gaap Depreciation
Depreciation
2056512
us-gaap Depreciation
Depreciation
2049269
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
18516593
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
12988384
us-gaap Net Income Loss
NetIncomeLoss
62387292
us-gaap Net Income Loss
NetIncomeLoss
30245918
CY2022Q3 us-gaap Assets
Assets
1450086995
CY2021Q4 us-gaap Assets
Assets
1385909483

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