Apartment Income REIT Corp. (AIRC) Financial Statements (2024 and earlier)

Company Profile

Business Address 4582 S. ULSTER STREET, SUITE 1700
DENVER, CO 80237
State of Incorp. MD
Fiscal Year End December 31
Industry (SIC) 6798 - Real Estate Investment Trusts (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments95,79767,32044,214
Cash and cash equivalents95,79767,32044,214
Receivables69,944  
Total current assets:165,74167,32044,214
Noncurrent Assets
Operating lease, right-of-use asset126,020 56,783
Property, plant and equipment1,291,4291,164,8141,341,615
Long-term investments and receivables 158,726803,800307,362
Long-term investments 158,726803,800307,362
Intangible assets, net (including goodwill)32,28632,28636,724
Goodwill32,28632,28632,286
Intangible assets, net (excluding goodwill)   4,438
Total noncurrent assets:1,608,4612,000,9001,742,484
Other undisclosed assets4,777,6814,372,1404,442,580
TOTAL ASSETS:6,551,8836,440,3606,229,278
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities4,155,4344,421,8354,841,736
Total liabilities:4,155,4344,421,8354,841,736
Temporary equity, carrying amount77,14379,37079,449
Equity
Equity, attributable to parent, including:2,156,4171,813,0251,306,851
Preferred stock2,0002,1292,000
Common stock1,4911,5701,489
Additional paid in capital3,436,6353,763,1053,432,121
Accumulated other comprehensive income43,562 3,039
Other undisclosed equity, attributable to parent(1,327,271)(1,953,779)(2,131,798)
Equity, attributable to noncontrolling interest162,889126,1301,242
Total equity:2,319,3061,939,1551,308,093
TOTAL LIABILITIES AND EQUITY:6,551,8836,440,3606,229,278

Income Statement (P&L) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
Revenues773,723740,853719,556
Operating lease, lease income762,418731,669717,798
Cost of revenue (261,264)  
Gross profit:512,459740,853719,556
Operating expenses(646,221)(633,648)(737,497)
Operating income (loss):(133,762)107,205(17,941)
Nonoperating income
(Investment Income, Nonoperating)
50,26458,65112,374
Interest and debt expense(140,095)(286,174)(160,359)
Income (loss) from continuing operations before equity method investments, income taxes:(223,593)(120,318)(165,926)
Income from equity method investments   27,576
Other undisclosed income from continuing operations before income taxes1,197,566594,296119,215
Income (loss) from continuing operations before income taxes:973,973473,978(19,135)
Income tax expense (benefit)(3,923)5,246(95,437)
Income (loss) from continuing operations:970,050479,224(114,572)
Income (loss) before gain (loss) on sale of properties:479,224(103,344)
Income from discontinued operations   11,228
Net income (loss):970,050479,224(103,344)
Net income (loss) attributable to noncontrolling interest65,61831,603(783)
Other undisclosed net loss attributable to parent (131,236)(63,206) 
Net income (loss) attributable to parent:904,432447,621(104,127)
Preferred stock dividends and other adjustments(172)(181) 
Other undisclosed net loss available to common stockholders, basic(618)(316)(202)
Net income (loss) available to common stockholders, basic:903,642447,124(104,329)
Dilutive securities, effect on basic earnings per share6,388  
Net income (loss) available to common stockholders, diluted:910,030447,124(104,329)

Comprehensive Income ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
Net income (loss):970,050479,224(103,344)
Other comprehensive income (loss)47,322(3,251)(1,236)
Comprehensive income (loss):1,017,372475,973(104,580)
Comprehensive loss, net of tax, attributable to noncontrolling interest(69,378)(31,391)(703)
Comprehensive income (loss), net of tax, attributable to parent:947,994444,582(105,283)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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