2018 Q4 Form 10-K Financial Statement

#000156459019005208 Filed on February 28, 2019

View on sec.gov

Income Statement

Concept 2018 Q4 2018 2017 Q4
Revenue $26.02M $81.36M $32.47M
YoY Change -19.88% 15.59% 104.21%
Cost Of Revenue $6.772M $24.86M $5.600M
YoY Change 20.92% 1.55% 64.71%
Gross Profit $19.24M $63.45M $26.87M
YoY Change -28.38% -0.31% 115.13%
Gross Profit Margin 73.97% 77.99% 82.75%
Selling, General & Admin $4.583M $18.38M $5.460M
YoY Change -16.06% -12.48% 2.44%
% of Gross Profit 23.82% 28.97% 20.32%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $863.5K $3.488M $1.090M
YoY Change -20.78% -33.09% -30.57%
% of Gross Profit 4.49% 5.5% 4.06%
Operating Expenses $5.447M $21.94M $6.560M
YoY Change -16.97% -16.29% -4.93%
Operating Profit $13.91M $41.51M $15.65M
YoY Change -11.08% 10.87% 178.26%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $13.80M $40.22M $19.56M
YoY Change -29.46% 9.64% 249.29%
Income Tax -$117.3K -$921.1K $3.920M
% Of Pretax Income -0.85% -2.29% 20.04%
Net Earnings $13.91M $41.14M $15.65M
YoY Change -11.09% 34.48% 178.47%
Net Earnings / Revenue 53.48% 50.57% 48.2%
Basic Earnings Per Share
Diluted Earnings Per Share $231.3K $685.3K $261.4K
COMMON SHARES
Basic Shares Outstanding 0.000 0.000
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q4 2018 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $32.00M $32.00M $69.60M
YoY Change -54.02% -54.02% 236.23%
Cash & Equivalents $32.00M $32.00M $69.60M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $39.00M $39.00M $76.10M
YoY Change -48.75% -48.75% 174.73%
LONG-TERM ASSETS
Property, Plant & Equipment $64.60M $64.60M $76.69M
YoY Change -15.77% -15.78% -32.86%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $76.53M $857.4M $39.61M
YoY Change 93.22% -2.36% 103.44%
Other Assets $1.665M $1.700M $2.400M
YoY Change -30.65% -29.17% -66.67%
Total Long-Term Assets $943.7M $943.7M $993.7M
YoY Change -5.03% -5.03% 8.43%
TOTAL ASSETS
Total Short-Term Assets $39.00M $39.00M $76.10M
Total Long-Term Assets $943.7M $943.7M $993.7M
Total Assets $982.7M $982.7M $1.070B
YoY Change -8.14% -8.14% 13.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $0.00 $7.500M $8.500M
YoY Change -100.0% -11.76% 16.44%
Accrued Expenses $0.00
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $178.7M
YoY Change
Total Short-Term Liabilities $193.8M $193.8M $16.90M
YoY Change 1046.75% 1046.75% 10.46%
LONG-TERM LIABILITIES
Long-Term Debt $568.8M $568.8M $643.9M
YoY Change -11.67% -11.66% 6.15%
Other Long-Term Liabilities $0.00 $0.00 $800.0K
YoY Change -100.0% -100.0% -38.46%
Total Long-Term Liabilities $568.8M $568.8M $644.7M
YoY Change -11.78% -11.77% 6.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $193.8M $193.8M $16.90M
Total Long-Term Liabilities $568.8M $568.8M $644.7M
Total Liabilities $583.9M $583.9M $661.6M
YoY Change -11.75% -11.74% 6.17%
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 $398.8M $398.8M $408.2M
YoY Change
Total Liabilities & Shareholders Equity $982.7M $982.7M $1.070B
YoY Change -8.14% -8.14% 13.31%

Cashflow Statement

Concept 2018 Q4 2018 2017 Q4
OPERATING ACTIVITIES
Net Income $13.91M $41.14M $15.65M
YoY Change -11.09% 34.48% 178.47%
Depreciation, Depletion And Amortization $863.5K $3.488M $1.090M
YoY Change -20.78% -33.09% -30.57%
Cash From Operating Activities $7.668M $25.67M $3.970M
YoY Change 93.16% 49.74% -27.29%
INVESTING ACTIVITIES
Capital Expenditures -$36.64K -$530.0K -$150.0K
YoY Change -75.57% 20.45% 50.0%
Acquisitions
YoY Change
Other Investing Activities $41.70M $49.65M $34.09M
YoY Change 22.33% -292.14% -130.59%
Cash From Investing Activities $41.66M $49.12M $33.94M
YoY Change 22.76% -286.92% -130.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $292.6M
YoY Change 257.82%
Cash From Financing Activities -41.74M -113.1M -4.350M
YoY Change 859.47% -312.53% -104.54%
NET CHANGE
Cash From Operating Activities 7.668M 25.67M 3.970M
Cash From Investing Activities 41.66M 49.12M 33.94M
Cash From Financing Activities -41.74M -113.1M -4.350M
Net Change In Cash 7.596M -38.31M 33.56M
YoY Change -77.36% -186.93% -429.99%
FREE CASH FLOW
Cash From Operating Activities $7.668M $25.67M $3.970M
Capital Expenditures -$36.64K -$530.0K -$150.0K
Free Cash Flow $7.705M $26.20M $4.120M
YoY Change 87.02% 49.01% -25.9%

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CashReceivedForSaleOfMfPropertiesEliminatedInConsolidation
13450000
CY2017 atax Cash Received For Sale Of Mf Properties Eliminated In Consolidation
CashReceivedForSaleOfMfPropertiesEliminatedInConsolidation
46525000
CY2016 atax Cash Received For Sale Of Mf Properties Eliminated In Consolidation
CashReceivedForSaleOfMfPropertiesEliminatedInConsolidation
45850000
CY2017 us-gaap Proceeds From Sale Of Land Held For Use
ProceedsFromSaleOfLandHeldForUse
3000000
CY2016 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
9295000
CY2016 us-gaap Proceeds From Sale Of Mortgage Backed Securities Mbs Categorized As Available For Sale
ProceedsFromSaleOfMortgageBackedSecuritiesMBSCategorizedAsAvailableForSale
14997069
CY2018 atax Proceeds From Sale Of Investment In An Unconsolidated Entity
ProceedsFromSaleOfInvestmentInAnUnconsolidatedEntity
11002761
CY2017 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
121347000
CY2016 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
130620000
CY2018 us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
38646325
CY2017 us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
14096478
CY2016 us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
18751305
CY2016 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
9867847
CY2018 atax Proceeds From Taxable Mortgage Revenue Bonds
ProceedsFromTaxableMortgageRevenueBonds
979808
CY2017 atax Proceeds From Taxable Mortgage Revenue Bonds
ProceedsFromTaxableMortgageRevenueBonds
1565455
CY2018 us-gaap Payments To Acquire Land Held For Use
PaymentsToAcquireLandHeldForUse
2764403
CY2017 us-gaap Payments To Acquire Land Held For Use
PaymentsToAcquireLandHeldForUse
381066
CY2018 atax Payments For Property Loans
PaymentsForPropertyLoans
66652
CY2017 atax Payments For Property Loans
PaymentsForPropertyLoans
2712816
CY2018 atax Proceeds From Property Loans And Related Contingent Interest
ProceedsFromPropertyLoansAndRelatedContingentInterest
18696269
CY2017 atax Proceeds From Property Loans And Related Contingent Interest
ProceedsFromPropertyLoansAndRelatedContingentInterest
2667276
CY2016 atax Proceeds From Property Loans And Related Contingent Interest
ProceedsFromPropertyLoansAndRelatedContingentInterest
2806056
CY2018 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
49118433
CY2017 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-26277233
CY2018 atax Payment Of Distributions To Partners
PaymentOfDistributionsToPartners
36161829
CY2017 atax Payment Of Distributions To Partners
PaymentOfDistributionsToPartners
33465038
CY2017 us-gaap Proceeds From Issuance Of Redeemable Preferred Stock
ProceedsFromIssuanceOfRedeemablePreferredStock
53631000
CY2016 us-gaap Proceeds From Issuance Of Redeemable Preferred Stock
ProceedsFromIssuanceOfRedeemablePreferredStock
40869000
CY2017 atax Payments Of Redeemable Preferred Stock Offering Costs
PaymentsOfRedeemablePreferredStockOfferingCosts
8875
CY2016 atax Payments Of Redeemable Preferred Stock Offering Costs
PaymentsOfRedeemablePreferredStockOfferingCosts
86814
CY2017 us-gaap Payments For Derivative Instrument Financing Activities
PaymentsForDerivativeInstrumentFinancingActivities
556017
CY2018 atax Repurchase Of Beneficial Unit Certificates
RepurchaseOfBeneficialUnitCertificates
1697613
CY2017 atax Repurchase Of Beneficial Unit Certificates
RepurchaseOfBeneficialUnitCertificates
1466222
CY2018 atax Proceeds From Issuance Of Common Stock Gross
ProceedsFromIssuanceOfCommonStockGross
2033731
CY2017 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
101143
CY2018 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
363987
CY2017 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
400607
CY2017 atax Payment Of Distribution To Noncontrolling Interest
PaymentOfDistributionToNoncontrollingInterest
76316
CY2017 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
144100000
CY2016 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
173302645
CY2017 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
81773730
CY2016 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
129465032
CY2016 atax Repayment Of Principal Borrowing On Other Secured Financing
RepaymentOfPrincipalBorrowingOnOtherSecuredFinancing
7500000
CY2016 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
7500000
CY2017 us-gaap Repayments Of Debt
RepaymentsOfDebt
15952005
CY2016 us-gaap Repayments Of Debt
RepaymentsOfDebt
17997186
CY2017 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
80560000
CY2016 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
87487639
CY2017 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
90560000
CY2016 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
44984639
CY2017 us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
-227029
CY2016 us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
-44984
CY2016 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1697713
CY2016 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
71533594
CY2018 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-38314718
CY2017 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
44077109
CY2016 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
1520064
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
71583329
CY2016Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
27506220
CY2015Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
25986156
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
33268611
CY2018 us-gaap Interest Paid Net
InterestPaidNet
23534203
CY2017 us-gaap Interest Paid Net
InterestPaidNet
21558593
CY2016 us-gaap Interest Paid Net
InterestPaidNet
15175628
CY2018 us-gaap Income Taxes Paid
IncomeTaxesPaid
180476
CY2017 us-gaap Income Taxes Paid
IncomeTaxesPaid
5890835
CY2016 us-gaap Income Taxes Paid
IncomeTaxesPaid
4615000
CY2018 atax Distributions Declared But Not Paid For Beneficial Unit Certificates And General Partner
DistributionsDeclaredButNotPaidForBeneficialUnitCertificatesAndGeneralPartner
7576167
CY2017 atax Distributions Declared But Not Paid For Beneficial Unit Certificates And General Partner
DistributionsDeclaredButNotPaidForBeneficialUnitCertificatesAndGeneralPartner
8423803
CY2016 atax Distributions Declared But Not Paid For Beneficial Unit Certificates And General Partner
DistributionsDeclaredButNotPaidForBeneficialUnitCertificatesAndGeneralPartner
8017950
CY2018 atax Distributions Declared But Not Paid For Series A Preferred Units
DistributionsDeclaredButNotPaidForSeriesAPreferredUnits
708750
CY2017 atax Distributions Declared But Not Paid For Series A Preferred Units
DistributionsDeclaredButNotPaidForSeriesAPreferredUnits
692917
CY2016 atax Distributions Declared But Not Paid For Series A Preferred Units
DistributionsDeclaredButNotPaidForSeriesAPreferredUnits
271518
CY2018 us-gaap Contribution Of Property
ContributionOfProperty
2879473
CY2017 us-gaap Contribution Of Property
ContributionOfProperty
3091023
CY2018 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
43673
CY2017 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
72390
CY2016 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
46528
CY2017 atax Deferred Financing Costs Financed Through Accounts Payable
DeferredFinancingCostsFinancedThroughAccountsPayable
90339
CY2016 us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
135326
CY2016 atax Beneficial Unit Certificates Surrendered For Tax Withholding Liabilities On Restricted Units
BeneficialUnitCertificatesSurrenderedForTaxWithholdingLiabilitiesOnRestrictedUnits
153306
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
33268611
CY2016Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
27506220
CY2018 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<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 three 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 have 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 short-term investment portfolio being restricted to investment grade securities.</p>
CY2017Q4 us-gaap Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
719750361
CY2018Q4 us-gaap Number Of Units In Real Estate Property
NumberOfUnitsInRealEstateProperty
2886
CY2018Q4 atax Remaining Commitments To Equity Investment Maximum
RemainingCommitmentsToEquityInvestmentMaximum
17737048
CY2018 us-gaap Real Estate Investment Partnership Revenue
RealEstateInvestmentPartnershipRevenue
9262127
CY2017 us-gaap Real Estate Investment Partnership Revenue
RealEstateInvestmentPartnershipRevenue
1362457
CY2018 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
7424879
CY2018 us-gaap Net Income Loss From Real Estate Investment Partnership
NetIncomeLossFromRealEstateInvestmentPartnership
5001702
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<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 as of 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 (i) the fair value of MRBs, PHC Certificates, bond purchase commitments and interest rate derivatives, (ii) investment impairments, (iii) impairment of real estate assets, (iv) allocation of the purchase price for acquisition accounting and (v) allowances for loan losses.</p>
CY2018Q4 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0496
CY2018Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000
CY2016Q1 atax Partners Capital Account Fixed Rate
PartnersCapitalAccountFixedRate
0.030
CY2018 us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
DistributionMadeToLimitedPartnerDistributionsPaidPerUnit
0.5000
CY2017 us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
DistributionMadeToLimitedPartnerDistributionsPaidPerUnit
0.5000
CY2016 us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
DistributionMadeToLimitedPartnerDistributionsPaidPerUnit
0.5000
CY2018 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2017 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2016 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2018Q4 atax Number Of Variable Interest Entities
NumberOfVariableInterestEntities
17
CY2017Q4 atax Number Of Variable Interest Entities
NumberOfVariableInterestEntities
23
CY2018Q4 atax Available For Sale Security And Property Loan Receivable Maximum Exposure
AvailableForSaleSecurityAndPropertyLoanReceivableMaximumExposure
136692941
CY2017Q4 atax Available For Sale Security And Property Loan Receivable Maximum Exposure
AvailableForSaleSecurityAndPropertyLoanReceivableMaximumExposure
201777735
CY2018Q4 srt Mortgage Loans On Real Estate Face Amount Of Mortgages
MortgageLoansOnRealEstateFaceAmountOfMortgages
41708000
CY2017Q4 srt Mortgage Loans On Real Estate Face Amount Of Mortgages
MortgageLoansOnRealEstateFaceAmountOfMortgages
121347000
CY2018Q4 us-gaap Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
677698116
CY2018Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1409895
CY2017Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
2422459
CY2017Q4 atax Bond Purchase Commitment At Fair Market Value Asset
BondPurchaseCommitmentAtFairMarketValueAsset
3002540
CY2018Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
2081258
CY2017Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
942949
CY2018 atax Number Of Unscheduled Paydowns
NumberOfUnscheduledPaydowns
3
CY2017 atax Number Of Unscheduled Paydowns
NumberOfUnscheduledPaydowns
3
CY2018Q4 atax Debt Financing Current Maturities
DebtFinancingCurrentMaturities
178652274
CY2018Q4 atax Debt Financing Maturities Repayment Of Principal In Year Two
DebtFinancingMaturitiesRepaymentOfPrincipalInYearTwo
74597920
CY2018Q4 atax Debt Financing Maturities Repayments Of Principal In Year Three
DebtFinancingMaturitiesRepaymentsOfPrincipalInYearThree
2456696
CY2018Q4 atax Debt Financing Maturities Repayments Of Principal In Year Four
DebtFinancingMaturitiesRepaymentsOfPrincipalInYearFour
2600981
CY2018Q4 atax Debt Financing Maturities Repayments Of Principal In Year Five
DebtFinancingMaturitiesRepaymentsOfPrincipalInYearFive
2751089
CY2018Q4 atax Debt Financing Maturities Repayments Of Principal After Year Five
DebtFinancingMaturitiesRepaymentsOfPrincipalAfterYearFive
247854366
CY2018Q4 atax Debt Financing Carrying Value
DebtFinancingCarryingValue
508913326
CY2018Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
3249761
CY2017 us-gaap Net Income Loss From Real Estate Investment Partnership
NetIncomeLossFromRealEstateInvestmentPartnership
-1782456
CY2018Q4 atax Property Loan Receivable Gross
PropertyLoanReceivableGross
23354826
CY2018Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
7393814
CY2018Q4 us-gaap Loans Receivable Net
LoansReceivableNet
15961012
CY2017Q4 atax Property Loan Receivable Gross
PropertyLoanReceivableGross
36907688
CY2017Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
7393814
CY2017Q4 us-gaap Loans Receivable Net
LoansReceivableNet
29513874
CY2016Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
7098814
CY2015Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
7098814
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2017 atax Tax Cuts And Jobs Act Of2017 Change In Tax Rate Income Tax Expense Benefit
TaxCutsAndJobsActOf2017ChangeInTaxRateIncomeTaxExpenseBenefit
15000
CY2017Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0
CY2018Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0
CY2016 atax Valuation Allowance Reversed
ValuationAllowanceReversed
405000
CY2018Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0
CY2017Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0
CY2016Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0
CY2018Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
397823
CY2017Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
383133
CY2018Q4 us-gaap Interest Rate Derivatives At Fair Value Net
InterestRateDerivativesAtFairValueNet
626633
CY2017Q4 us-gaap Interest Rate Derivatives At Fair Value Net
InterestRateDerivativesAtFairValueNet
597221
CY2017Q4 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0421
CY2018Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
626633
CY2017Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
597221
CY2018Q3 us-gaap Proceeds From Derivative Instrument Financing Activities
ProceedsFromDerivativeInstrumentFinancingActivities
7000
CY2018Q4 us-gaap Proceeds From Derivative Instrument Financing Activities
ProceedsFromDerivativeInstrumentFinancingActivities
7000
CY2017Q4 atax Bond Purchase Commitment Fair Market Value Asset
BondPurchaseCommitmentFairMarketValueAsset
3002540
CY2018 us-gaap Concentration Risk Credit Risk Financial Instrument Maximum Exposure
ConcentrationRiskCreditRiskFinancialInstrumentMaximumExposure
508900000
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
CY2017Q1 us-gaap Partners Capital Account Units Sold In Private Placement
PartnersCapitalAccountUnitsSoldInPrivatePlacement
1613100
CY2017Q3 us-gaap Partners Capital Account Units Sold In Private Placement
PartnersCapitalAccountUnitsSoldInPrivatePlacement
2000000
CY2017Q4 us-gaap Partners Capital Account Units Sold In Private Placement
PartnersCapitalAccountUnitsSoldInPrivatePlacement
1750000
CY2018 us-gaap Partners Capital Account Units Sold In Private Placement
PartnersCapitalAccountUnitsSoldInPrivatePlacement
9450000
CY2017 us-gaap Partners Capital Account Units Sold In Private Placement
PartnersCapitalAccountUnitsSoldInPrivatePlacement
9450000
CY2016Q1 us-gaap Partners Capital Account Private Placement Of Units
PartnersCapitalAccountPrivatePlacementOfUnits
10000000
CY2017Q4 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
391000
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
CY2017Q1 us-gaap Partners Capital Account Private Placement Of Units
PartnersCapitalAccountPrivatePlacementOfUnits
16131000
CY2017Q3 us-gaap Partners Capital Account Private Placement Of Units
PartnersCapitalAccountPrivatePlacementOfUnits
20000000
CY2017Q4 us-gaap Partners Capital Account Private Placement Of Units
PartnersCapitalAccountPrivatePlacementOfUnits
17500000
CY2018 us-gaap Partners Capital Account Private Placement Of Units
PartnersCapitalAccountPrivatePlacementOfUnits
94500000
CY2017 us-gaap Partners Capital Account Private Placement Of Units
PartnersCapitalAccountPrivatePlacementOfUnits
94500000
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
CY2017Q1 atax Percentage Of Non Cumulative Cash Dividend
PercentageOfNonCumulativeCashDividend
0.0300
CY2017Q3 atax Percentage Of Non Cumulative Cash Dividend
PercentageOfNonCumulativeCashDividend
0.0300
CY2017Q4 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
CY2016Q4 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
10.00
CY2017Q1 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
10.00
CY2017Q3 us-gaap Temporary Equity Redemption Price Per Share
TemporaryEquityRedemptionPricePerShare
10.00
CY2017Q4 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
CY2017Q1 atax Temporary Equity Redemption Date
TemporaryEquityRedemptionDate
2023-03
CY2017Q3 atax Temporary Equity Redemption Date
TemporaryEquityRedemptionDate
2023-08
CY2017Q4 atax Temporary Equity Redemption Date
TemporaryEquityRedemptionDate
2023-10
CY2017 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
128000
CY2018 atax Reimbursement Of Franchise Margin Taxes Paid On Behalf Of Unconsolidated Entities
ReimbursementOfFranchiseMarginTaxesPaidOnBehalfOfUnconsolidatedEntities
77000
CY2018 atax Rate For Administration Fees
RateForAdministrationFees
0.0045
CY2017 atax Consulting Fees Received By Affiliate
ConsultingFeesReceivedByAffiliate
705000
CY2016 atax Consulting Fees Received By Affiliate
ConsultingFeesReceivedByAffiliate
1040000
CY2016 atax Negotiated Origination Fee To An Affiliate
NegotiatedOriginationFeeToAnAffiliate
125000
CY2018Q4 us-gaap Related Party Transaction Due From To Related Party
RelatedPartyTransactionDueFromToRelatedParty
77000
CY2017Q4 us-gaap Related Party Transaction Due From To Related Party
RelatedPartyTransactionDueFromToRelatedParty
0
CY2018Q4 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
330000
CY2018Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
782862049
CY2017Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
843675611
CY2018 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4
CY2018 atax Number Of Segments Where Tax Exempted And Other Investments
NumberOfSegmentsWhereTaxExemptedAndOtherInvestments
3
CY2018 us-gaap Depreciation
Depreciation
3488058
CY2017 us-gaap Depreciation
Depreciation
4949935
CY2016 us-gaap Depreciation
Depreciation
5980483
CY2018Q1 atax Revenue And Other Income
RevenueAndOtherIncome
16458034
CY2018Q2 atax Revenue And Other Income
RevenueAndOtherIncome
15785165
CY2018Q3 atax Revenue And Other Income
RevenueAndOtherIncome
30052544
CY2018Q4 atax Revenue And Other Income
RevenueAndOtherIncome
26015349
CY2018Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
6004304
CY2018Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
3338121
CY2018Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
17883055
CY2018Q4 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
13914049
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
6004304
CY2017Q1 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.10
CY2017Q2 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.06
CY2017Q3 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.05
CY2017Q4 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.23
CY2017Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.10
CY2017Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.06
CY2017Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.05
CY2017Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.23
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
3338121
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
17883055
CY2018Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
13914049
CY2018Q1 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.09
CY2018Q2 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.04
CY2018Q3 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.25
CY2018Q4 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.22
CY2018Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.09
CY2018Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.04
CY2018Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.25
CY2018Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.22
CY2017Q1 atax Revenue And Other Income
RevenueAndOtherIncome
23208975
CY2017Q2 atax Revenue And Other Income
RevenueAndOtherIncome
16218225
CY2017Q3 atax Revenue And Other Income
RevenueAndOtherIncome
16234830
CY2017Q4 atax Revenue And Other Income
RevenueAndOtherIncome
32472818
CY2017Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
7360515
CY2017Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
4109400
CY2017Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
3545483
CY2017Q4 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
15647453
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
7360515
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
4109400
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
3545483
CY2017Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
15647453

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