2016 Form 10-K Financial Statement

#000156459017003348 Filed on March 03, 2017

View on sec.gov

Income Statement

Concept 2016 2015 Q4 2015 Q3
Revenue $58.98M $20.84M $14.08M
YoY Change -1.63% 77.65% 27.54%
Cost Of Revenue $17.33M $3.140M $4.750M
YoY Change 16.86% -24.15% 84.11%
Gross Profit $55.73M $17.70M $9.330M
YoY Change 12.07% 132.89% 10.15%
Gross Profit Margin 94.49% 84.93% 66.24%
Selling, General & Admin $20.06M $4.820M $5.220M
YoY Change 7.22% 29.57% 49.14%
% of Gross Profit 35.99% 27.23% 55.95%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.863M $1.910M $1.829M
YoY Change 5.5% 119.54% 14.79%
% of Gross Profit 12.31% 10.79% 19.6%
Operating Expenses $26.93M $7.590M $7.050M
YoY Change 0.34% 37.25% 36.36%
Operating Profit $23.78M $13.32M $2.541M
YoY Change -10.61% 559.29% -23.19%
Interest Expense $15.47M $4.754M
YoY Change 4.34% 84.56%
% of Operating Profit 65.04% 187.12%
Other Income/Expense, Net $5.883K $0.00 $0.00
YoY Change -13.73% -100.0%
Pretax Income $28.74M $10.12M $2.286M
YoY Change 25.6% 391.26% -30.81%
Income Tax $4.959M
% Of Pretax Income 17.25%
Net Earnings $23.78M $13.32M $2.541M
YoY Change -10.61% 559.41% -23.12%
Net Earnings / Revenue 40.33% 63.91% 18.04%
Basic Earnings Per Share
Diluted Earnings Per Share $395.1K $221.1K $42.16K
COMMON SHARES
Basic Shares Outstanding 0.000 0.000 shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 2015 Q4 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.70M $17.00M $33.10M
YoY Change 21.76% -65.45% -48.68%
Cash & Equivalents $20.70M $17.04M $33.11M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $27.70M $22.20M $38.70M
YoY Change 24.77% -58.35% -44.48%
LONG-TERM ASSETS
Property, Plant & Equipment $114.2M $141.0M $140.0M
YoY Change -19.01% 27.79% 17.12%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $756.8M $659.2M $602.0M
YoY Change 14.81% 25.54% 19.4%
Other Assets $7.200M $9.400M $29.10M
YoY Change -23.4% -67.59% 66.29%
Total Long-Term Assets $916.4M $844.9M $799.7M
YoY Change 8.46% 22.28% 20.02%
TOTAL ASSETS
Total Short-Term Assets $27.70M $22.20M $38.70M
Total Long-Term Assets $916.4M $844.9M $799.7M
Total Assets $944.1M $867.1M $838.4M
YoY Change 8.88% 16.51% 13.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.300M $5.700M $6.500M
YoY Change 28.07% 39.02% -12.16%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.920M $245.8K
YoY Change -78.99% -11.58%
Total Short-Term Liabilities $15.30M $14.50M $14.40M
YoY Change 5.52% 23.93% -4.0%
LONG-TERM LIABILITIES
Long-Term Debt $606.6M $538.2M $522.5M
YoY Change 12.71% 27.51% 24.55%
Other Long-Term Liabilities $1.300M $1.300M $2.100M
YoY Change 0.0% 160.0%
Total Long-Term Liabilities $607.9M $539.5M $524.6M
YoY Change 12.68% 27.66% 25.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.30M $14.50M $14.40M
Total Long-Term Liabilities $607.9M $539.5M $524.6M
Total Liabilities $623.2M $554.0M $538.9M
YoY Change 12.49% 28.87% 24.02%
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 $320.9M $313.1M $299.4M
YoY Change
Total Liabilities & Shareholders Equity $944.1M $867.1M $838.4M
YoY Change 8.88% 17.2% 13.91%

Cashflow Statement

Concept 2016 2015 Q4 2015 Q3
OPERATING ACTIVITIES
Net Income $23.78M $13.32M $2.541M
YoY Change -10.61% 559.41% -23.12%
Depreciation, Depletion And Amortization $6.863M $1.910M $1.829M
YoY Change 5.5% 119.54% 14.79%
Cash From Operating Activities $15.23M $5.120M $3.210M
YoY Change -21.44% -21.23% -28.19%
INVESTING ACTIVITIES
Capital Expenditures $9.868M $80.00K -$2.190M
YoY Change -400.85% -101.24% -47.23%
Acquisitions
YoY Change
Other Investing Activities -$74.74M -$34.20M $1.170M
YoY Change -44.81% 234.64% -101.56%
Cash From Investing Activities -$83.05M -$34.12M -$1.030M
YoY Change -40.12% 104.92% -98.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $129.5M
YoY Change -28.92%
Cash From Financing Activities 71.53M 12.90M 28.31M
YoY Change -17.93% -349.03% -70.45%
NET CHANGE
Cash From Operating Activities 15.23M 5.120M 3.210M
Cash From Investing Activities -83.05M -34.12M -1.030M
Cash From Financing Activities 71.53M 12.90M 28.31M
Net Change In Cash 3.713M -16.10M 30.49M
YoY Change -111.55% 5.02% 43.41%
FREE CASH FLOW
Cash From Operating Activities $15.23M $5.120M $3.210M
Capital Expenditures $9.868M $80.00K -$2.190M
Free Cash Flow $5.364M $5.040M $5.400M
YoY Change -76.34% -61.02% -37.35%

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DistributionsDeclaredButNotPaidForBeneficialUnitCertificatesAndGeneralPartner
8017950
CY2015 atax Distributions Declared But Not Paid For Beneficial Unit Certificates And General Partner
DistributionsDeclaredButNotPaidForBeneficialUnitCertificatesAndGeneralPartner
8759343
CY2014 atax Distributions Declared But Not Paid For Beneficial Unit Certificates And General Partner
DistributionsDeclaredButNotPaidForBeneficialUnitCertificatesAndGeneralPartner
7617390
CY2016 atax Distributions Declared But Not Paid For Series A Preferred Units
DistributionsDeclaredButNotPaidForSeriesAPreferredUnits
271518
CY2016 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
46528
CY2015 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
26368
CY2014 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
137759
CY2016 us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
135326
CY2016 atax Deferred Financing Costs Financed Through Accounts Payable
DeferredFinancingCostsFinancedThroughAccountsPayable
234372
CY2016 atax Beneficial Unit Certificates Surrendered For Tax Withholding Liabilities On Restricted Units
BeneficialUnitCertificatesSurrenderedForTaxWithholdingLiabilitiesOnRestrictedUnits
153306
CY2016 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1697713
CY2015 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
2709513
CY2014 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
2927732
CY2016 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
71533594
CY2015 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
87158494
CY2014 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
126318797
CY2016 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
3712739
CY2015 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-32157561
CY2014 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
37875328
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations
17035782
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations
49193343
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations
11318015
CY2015 us-gaap Noncash Or Part Noncash Acquisition Other Assets Acquired1
NoncashOrPartNoncashAcquisitionOtherAssetsAcquired1
42665912
CY2015Q4 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents
0
CY2014Q4 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents
35772
CY2013Q4 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents
25976
CY2016Q4 us-gaap Disposal Group Including Discontinued Operation Cash And Cash Equivalents
DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents
0
CY2016 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Concentration of Credit Risk</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Partnership maintains the majority of its unrestricted cash balances at two financial institutions.&#160;&#160;The balances insured by the Federal Deposit Insurance Corporation are equal to $250,000 at each institution.&#160;&#160;At various times the cash balances exceeded the $250,000 limit.&#160;&#160;The Partnership is also exposed to risk on its short-term investments in the event of non-performance by counterparties.&#160;&#160;The Partnership does not anticipate any non-performance.&#160;&#160;This risk is minimized significantly by the Partnership&#8217;s portfolio being restricted to investment grade securities.</p></div>
CY2016 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Use of Estimates in Preparation of Consolidated Financial Statements</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of the accompanying consolidated financial statements in conformity with 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 at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.&nbsp;&nbsp;The most significant estimates and assumptions include those used in determining investment valuations, investment impairments, impairment of property assets, allocation of the purchase price for acquisition accounting and allowance for loan losses.</p></div>
CY2016 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Reclassifications</p> <p style="text-align:justify;Background-color:#FFFFFF;margin-top:12pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Certain prior year amounts have been reclassified for consistency with the current period presentation. </p> <p style="text-align:justify;Background-color:#FFFFFF;margin-top:12pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In 2016, the Partnership began to classify its amortization of deferred financing costs as a separate line within the Partnership&#8217;s consolidated statements of operations. Previously this amount had been classified within depreciation and amortization. Accordingly, for the years ended December 31, 2015 and 2014, the Partnership has reclassified the amortization of deferred financing costs and has included them in conformity for the periods presented herein. This reclassification has no effect on the Partnership&#8217;s reported net income or partners&#8217; capital in the Partnership&#8217;s consolidated financial statements for the periods presented. </p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In 2016, the Partnership began to classify its property loans, net of loan losses, as a separate line item within the Partnership&#8217;s consolidated balance sheets. Previously this amount had been classified within other assets. Accordingly, the Partnership has reclassified the property loans, net of loan loss reserves, for the consolidated balance sheet at December 31, 2015 and has included them in conformity for the periods presented herein. This reclassification has no effect on the Partnership&#8217;s reported net income or partners&#8217; capital in the Partnership&#8217;s consolidated financial statements for the periods presented<font style="color:#000000;">.</font></p></div>
CY2016Q4 atax Number Of Financial Institutions
NumberOfFinancialInstitutions
2
CY2016Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000
CY2016 atax Building Useful Life Minimum
BuildingUsefulLifeMinimum
P19Y
CY2016 atax Building Useful Life Maximum
BuildingUsefulLifeMaximum
P40Y
CY2016 atax Capital Improvements Useful Life Minimum
CapitalImprovementsUsefulLifeMinimum
P5Y
CY2016 atax Capital Improvements Useful Life Maximum
CapitalImprovementsUsefulLifeMaximum
P15Y
CY2016Q4 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
10.00
CY2016Q4 atax Percent Of Regular Distributions
PercentOfRegularDistributions
1.00
CY2016Q4 atax Penalty On Outstanding Contingent Interest
PenaltyOnOutstandingContingentInterest
0.009
CY2016Q4 atax Unallocated Deficit Of Consolidated Vies
UnallocatedDeficitOfConsolidatedVies
0
CY2015Q4 atax Unallocated Deficit Of Consolidated Vies
UnallocatedDeficitOfConsolidatedVies
0
CY2016 us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
DistributionMadeToLimitedPartnerDistributionsPaidPerUnit
0.5000
CY2015 us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
DistributionMadeToLimitedPartnerDistributionsPaidPerUnit
0.5000
CY2014 us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
DistributionMadeToLimitedPartnerDistributionsPaidPerUnit
0.5000
CY2016Q4 atax Number Of Variable Interest Entities
NumberOfVariableInterestEntities
20
CY2015Q4 atax Number Of Variable Interest Entities
NumberOfVariableInterestEntities
15
CY2016Q4 atax Available For Sale Security And Property Loan Receivable Maximum Exposure
AvailableForSaleSecurityAndPropertyLoanReceivableMaximumExposure
173867079
CY2015Q4 atax Available For Sale Security And Property Loan Receivable Maximum Exposure
AvailableForSaleSecurityAndPropertyLoanReceivableMaximumExposure
122948770
CY2016Q4 atax Available For Sale Securities At Par Value
AvailableForSaleSecuritiesAtParValue
648439860
CY2015Q4 atax Available For Sale Securities At Par Value
AvailableForSaleSecuritiesAtParValue
534745500
CY2016Q4 atax Available For Sale Securities Carrying Value Disclosure Mortgage Backed Securities
AvailableForSaleSecuritiesCarryingValueDisclosureMortgageBackedSecurities
0
CY2016Q4 atax Remaining Commitments To Equity Investment Maximum
RemainingCommitmentsToEquityInvestmentMaximum
9058248
CY2016Q4 atax Property Loan Receivable Gross
PropertyLoanReceivableGross
36862148
CY2015Q4 atax Property Loan Receivable Gross
PropertyLoanReceivableGross
29874523
CY2016Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
7098814
CY2015Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
7098814
CY2016Q4 atax Loan Interest Receivable
LoanInterestReceivable
3164762
CY2016Q4 atax Interest Allowance
InterestAllowance
0
CY2016Q4 us-gaap Loans Receivable Net
LoansReceivableNet
32928096
CY2014 us-gaap Depreciation And Amortization Discontinued Operations
DepreciationAndAmortizationDiscontinuedOperations
940000
CY2015Q4 atax Loan Interest Receivable
LoanInterestReceivable
10185405
CY2015Q4 atax Interest Allowance
InterestAllowance
8718387
CY2015Q4 us-gaap Loans Receivable Net
LoansReceivableNet
24242727
CY2016 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
0
CY2015 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
0
CY2014Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
7098814
CY2013Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
7023814
CY2016 atax Valuation Allowance Reversed
ValuationAllowanceReversed
405000
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2014 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2016 atax Current Income Tax Expense On Dispositions
CurrentIncomeTaxExpenseOnDispositions
4593000
CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
4684431
CY2016 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
733038
CY2016 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-535641
CY2016 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
77172
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2016Q4 atax Deferred Tax Liabilities Depreciation And Amortization
DeferredTaxLiabilitiesDepreciationAndAmortization
322178
CY2016Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
50935
CY2016Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
7113
CY2016Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
366000
CY2016Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
366000
CY2016Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0
CY2015Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0
CY2016Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
456890
CY2015Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
487023
CY2016Q4 us-gaap Interest Rate Derivatives At Fair Value Net
InterestRateDerivativesAtFairValueNet
383604
CY2015Q4 us-gaap Interest Rate Derivatives At Fair Value Net
InterestRateDerivativesAtFairValueNet
344177
CY2016Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
4084599
CY2015Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
4824060
CY2016Q4 atax Bond Purchase Commitment Fair Market Value Asset
BondPurchaseCommitmentFairMarketValueAsset
2399449
CY2015Q4 atax Bond Purchase Commitment Fair Market Value Asset
BondPurchaseCommitmentFairMarketValueAsset
5634360
CY2016Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
1470650
CY2015Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
1655013
CY2015 us-gaap Depreciation And Amortization Discontinued Operations
DepreciationAndAmortizationDiscontinuedOperations
301000
CY2015 atax Amortization Of Deferred Financing Costs Discontinued Operations
AmortizationOfDeferredFinancingCostsDiscontinuedOperations
17000
CY2014 atax Amortization Of Deferred Financing Costs Discontinued Operations
AmortizationOfDeferredFinancingCostsDiscontinuedOperations
19000
CY2015 us-gaap Capital Expenditure Discontinued Operations
CapitalExpenditureDiscontinuedOperations
201000
CY2014 us-gaap Capital Expenditure Discontinued Operations
CapitalExpenditureDiscontinuedOperations
360000
CY2016Q4 atax Debt Financing
DebtFinancing
495383033
CY2015Q4 atax Debt Financing
DebtFinancing
451496716
CY2016Q4 atax Debt Financing Current Maturities
DebtFinancingCurrentMaturities
148105926
CY2016Q4 atax Debt Financing Maturities Repayment Of Principal In Year Two
DebtFinancingMaturitiesRepaymentOfPrincipalInYearTwo
3117845
CY2016Q4 atax Debt Financing Maturities Repayments Of Principal In Year Three
DebtFinancingMaturitiesRepaymentsOfPrincipalInYearThree
130608707
CY2016Q4 atax Debt Financing Maturities Repayments Of Principal In Year Four
DebtFinancingMaturitiesRepaymentsOfPrincipalInYearFour
82404547
CY2016Q4 atax Debt Financing Maturities Repayments Of Principal In Year Five
DebtFinancingMaturitiesRepaymentsOfPrincipalInYearFive
1381375
CY2016Q4 atax Debt Financing Maturities Repayments Of Principal After Year Five
DebtFinancingMaturitiesRepaymentsOfPrincipalAfterYearFive
134650501
CY2016Q4 atax Debt Financing Carrying Value
DebtFinancingCarryingValue
500268901
CY2016Q4 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0383
CY2015Q4 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0360
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
8270379
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
8475223
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
4166034
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
23949298
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
6858994
CY2015 us-gaap General Insurance Expense
GeneralInsuranceExpense
224946
CY2014 us-gaap General Insurance Expense
GeneralInsuranceExpense
227265
CY2016 us-gaap Professional Fees
ProfessionalFees
390961
CY2015 us-gaap Professional Fees
ProfessionalFees
284767
CY2014 us-gaap Professional Fees
ProfessionalFees
208648
CY2016Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
51719928
CY2016Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
383604
CY2015Q4 atax Property Loan Receivable Gross
PropertyLoanReceivableGross
17000000
CY2015Q4 us-gaap Number Of Units In Real Estate Property
NumberOfUnitsInRealEstateProperty
2
CY2016 us-gaap Concentration Risk Credit Risk Financial Instrument Maximum Exposure
ConcentrationRiskCreditRiskFinancialInstrumentMaximumExposure
500300000
CY2016Q1 us-gaap Partners Capital Account Units Sold In Private Placement
PartnersCapitalAccountUnitsSoldInPrivatePlacement
1000000
CY2016Q2 us-gaap Partners Capital Account Units Sold In Private Placement
PartnersCapitalAccountUnitsSoldInPrivatePlacement
1386900
CY2016Q3 us-gaap Partners Capital Account Units Sold In Private Placement
PartnersCapitalAccountUnitsSoldInPrivatePlacement
1000000
CY2016Q4 us-gaap Partners Capital Account Units Sold In Private Placement
PartnersCapitalAccountUnitsSoldInPrivatePlacement
700000
CY2016 us-gaap Partners Capital Account Units Sold In Private Placement
PartnersCapitalAccountUnitsSoldInPrivatePlacement
4086900
CY2016Q1 us-gaap Partners Capital Account Private Placement Of Units
PartnersCapitalAccountPrivatePlacementOfUnits
10000000
CY2016Q2 us-gaap Partners Capital Account Private Placement Of Units
PartnersCapitalAccountPrivatePlacementOfUnits
13869000
CY2016Q3 us-gaap Partners Capital Account Private Placement Of Units
PartnersCapitalAccountPrivatePlacementOfUnits
10000000
CY2016Q4 us-gaap Partners Capital Account Private Placement Of Units
PartnersCapitalAccountPrivatePlacementOfUnits
7000000
CY2016 us-gaap Partners Capital Account Private Placement Of Units
PartnersCapitalAccountPrivatePlacementOfUnits
40869000
CY2016Q1 atax Percentage Of Non Cumulative Cash Dividend
PercentageOfNonCumulativeCashDividend
0.0300
CY2016Q2 atax Percentage Of Non Cumulative Cash Dividend
PercentageOfNonCumulativeCashDividend
0.0300
CY2016Q3 atax Percentage Of Non Cumulative Cash Dividend
PercentageOfNonCumulativeCashDividend
0.0300
CY2016Q4 atax Percentage Of Non Cumulative Cash Dividend
PercentageOfNonCumulativeCashDividend
0.0300
CY2016Q1 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
10.00
CY2016Q2 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
10.00
CY2016Q3 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
10.00
CY2016Q1 atax Temporary Equity Redemption Date
TemporaryEquityRedemptionDate
2022-03
CY2016Q2 atax Temporary Equity Redemption Date
TemporaryEquityRedemptionDate
2022-05
CY2016Q3 atax Temporary Equity Redemption Date
TemporaryEquityRedemptionDate
2022-09
CY2016Q4 atax Temporary Equity Redemption Date
TemporaryEquityRedemptionDate
2022-12
CY2016Q4 atax Common Stock Shares Authorized Value
CommonStockSharesAuthorizedValue
225000000
CY2016 us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
2921762
CY2015 us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
1744855
CY2014 us-gaap Salaries Wages And Officers Compensation
SalariesWagesAndOfficersCompensation
1599294
CY2016 us-gaap Other Expenses
OtherExpenses
5883
CY2015 us-gaap Other Expenses
OtherExpenses
6819
CY2014 us-gaap Other Expenses
OtherExpenses
975
CY2016 us-gaap General Insurance Expense
GeneralInsuranceExpense
204357
CY2016 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
11634
CY2015 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
15372
CY2014 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
1697
CY2016 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
3534597
CY2015 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
2276759
CY2014 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
2037879
CY2016 atax Rate For Administration Fees
RateForAdministrationFees
0.0045
CY2016 us-gaap Fees And Commissions Other
FeesAndCommissionsOther
2100000
CY2015 us-gaap Fees And Commissions Other
FeesAndCommissionsOther
1900000
CY2014 us-gaap Fees And Commissions Other
FeesAndCommissionsOther
1700000
CY2016Q2 atax One Time Mortgage Negotiated Placement Fees
OneTimeMortgageNegotiatedPlacementFees
125000
CY2015 atax Additional Fees And Commissions Paid
AdditionalFeesAndCommissionsPaid
300000
CY2016 us-gaap Management Fees Revenue
ManagementFeesRevenue
1100000
CY2015 us-gaap Management Fees Revenue
ManagementFeesRevenue
1200000
CY2014 us-gaap Management Fees Revenue
ManagementFeesRevenue
1300000
CY2016 atax Placement Advisory Fees
PlacementAdvisoryFees
0
CY2015 atax Placement Advisory Fees
PlacementAdvisoryFees
150000
CY2014 atax Placement Advisory Fees
PlacementAdvisoryFees
300000
CY2016Q4 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
415000
CY2015Q4 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
241000
CY2016Q4 atax Tolerable Range Of Difference In Valuation
TolerableRangeOfDifferenceInValuation
0.075
CY2016Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
742897488
CY2015Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
668651258
CY2016 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4
CY2016 us-gaap Depreciation
Depreciation
5980483
CY2015 us-gaap Depreciation
Depreciation
5888973
CY2014 us-gaap Depreciation
Depreciation
4801533
CY2016 us-gaap Operating Income Loss
OperatingIncomeLoss
23784507
CY2015 us-gaap Operating Income Loss
OperatingIncomeLoss
26609023
CY2014 us-gaap Operating Income Loss
OperatingIncomeLoss
15033861
CY2016Q1 atax Revenue And Other Income
RevenueAndOtherIncome
14927956
CY2016Q3 atax Revenue And Other Income
RevenueAndOtherIncome
14855912
CY2016Q4 atax Revenue And Other Income
RevenueAndOtherIncome
15899246
CY2016Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
4622874
CY2016Q4 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
5623293
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
4623542
CY2016Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
5623335
CY2016Q3 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.06
CY2016Q4 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.09
CY2016Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.06
CY2016Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.09
CY2015Q3 atax Revenue And Other Income
RevenueAndOtherIncome
14084872
CY2015Q4 atax Revenue And Other Income
RevenueAndOtherIncome
20841336
CY2015Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
7983295
CY2015Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
2286383
CY2015Q4 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
10115987
CY2015Q1 atax Income Loss From Discontinued Operations
IncomeLossFromDiscontinuedOperations
24428
CY2015Q2 atax Income Loss From Discontinued Operations
IncomeLossFromDiscontinuedOperations
238287
CY2015Q3 atax Income Loss From Discontinued Operations
IncomeLossFromDiscontinuedOperations
253894
CY2015Q4 atax Income Loss From Discontinued Operations
IncomeLossFromDiscontinuedOperations
3204788
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
2524479
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
8221271
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
2540649
CY2015Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
13322624
CY2015Q1 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.04
CY2015Q2 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.12
CY2015Q3 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.03
CY2015Q4 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.15
CY2015Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
0.01
CY2015Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
-0.01
CY2015Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.04
CY2015Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.12
CY2015Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.04
CY2015Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.14

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