AvalonBay Communities, Inc. (AVB) Financial Statements (2023 and Earlier)
Company Profile
| Business Address |
4040 WILSON BOULEVARD ARLINGTON, VA 22203 |
| 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 millions)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 420 | 217 | 40 | 92 | 67 | 215 | 401 | ||
| Cash and cash equivalents | 420 | 217 | 40 | 92 | 67 | 215 | 401 | ||
| Deferred costs | 40 | 55 | 70 | 47 | 46 | 40 | 38 | ||
| Disposal group, including discontinued operation | 17 | 55 | 21 | 17 | |||||
| Total current assets: | 478 | 272 | 110 | 194 | 113 | 276 | 456 | ||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset | 28 | 22 | 22 | ✕ | ✕ | ✕ | ✕ | ||
| Operating lease, right-of-use asset | 118 | 134 | 103 | ✕ | ✕ | ✕ | ✕ | ||
| Inventory, real estate | 147 | 267 | 458 | ||||||
| Property, plant and equipment | 6,408 | 6,309 | 6,432 | 6,561 | 6,179 | 6,396 | 5,727 | ||
| Long-term investments and receivables | 216 | 203 | 166 | 217 | 163 | 175 | 217 | ||
| Long-term investments | 216 | 203 | 166 | 217 | 163 | 175 | 217 | ||
| Total noncurrent assets: | 6,918 | 6,934 | 7,181 | 6,779 | 6,342 | 6,571 | 5,944 | ||
| Other undisclosed assets | 12,506 | 11,993 | 11,830 | 11,407 | 11,960 | 11,021 | 10,532 | ||
| TOTAL ASSETS: | 19,902 | 19,199 | 19,121 | 18,380 | 18,415 | 17,867 | 16,931 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Noncurrent Liabilities | |||||||||
| Other undisclosed liabilities | 8,966 | 8,444 | 8,128 | 7,744 | 8,021 | 7,688 | 7,081 | ||
| Total liabilities: | 8,966 | 8,444 | 8,128 | 7,744 | 8,021 | 7,688 | 7,081 | ||
| Temporary equity, carrying amount | 3 | 3 | 3 | 3 | 6 | 8 | 10 | ||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent | 10,933 | 10,752 | 10,990 | 10,633 | 10,388 | 10,171 | 9,841 | ||
| Common stock | 1 | 1 | 1 | 1 | 1 | 1 | 1 | ||
| Additional paid in capital | 10,716 | 10,664 | 10,737 | 10,307 | 10,235 | 10,106 | 10,069 | ||
| Accumulated other comprehensive loss | (26) | (40) | (32) | (26) | (37) | (31) | (31) | ||
| Retained earnings (accumulated deficit) | 241 | 126 | 283 | 351 | 189 | 95 | (198) | ||
| Stockholders' equity attributable to noncontrolling interest | 1 | 1 | 1 | ||||||
| Total stockholders' equity: | 10,933 | 10,752 | 10,990 | 10,633 | 10,388 | 10,171 | 9,841 | ||
| TOTAL LIABILITIES AND EQUITY: | 19,902 | 19,199 | 19,121 | 18,380 | 18,415 | 17,867 | 16,931 | ||
Income Statement (P&L) ($ in millions)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 2,295 | 2,301 | 2,325 | 2,285 | 2,159 | 2,045 | 1,856 | |
| Revenue, net | ✕ | ✕ | ✕ | ✕ | 2,159 | 2,045 | 1,856 | |
| Operating lease, lease income | 2,292 | 2,297 | 2,320 | ✕ | ✕ | ✕ | ✕ | |
| Operating leases, income statement, lease revenue | ✕ | ✕ | ✕ | 2,281 | ✕ | ✕ | ✕ | |
| Cost of revenue | (1,800) | (1,694) | (515) | (6) | (5) | (4) | ||
| Cost of goods and services sold | (571) | (550) | (515) | (6) | (5) | (4) | ||
| Gross profit: | 495 | 607 | 1,809 | 2,285 | 2,153 | 2,040 | 1,852 | |
| Operating expenses | (127) | (132) | (1,697) | (1,701) | (1,594) | (1,461) | (1,308) | |
| Operating income: | 368 | 475 | 113 | 583 | 558 | 579 | 544 | |
| Nonoperating expense (Other Nonoperating expense) | (3) | (12) | (5) | |||||
| Interest and debt expense | (238) | (223) | (204) | (238) | (25) | (7) | (149) | |
| Income (loss) from continuing operations before equity method investments, income taxes: | 127 | 239 | (97) | 345 | 533 | 572 | 395 | |
| Income from equity method investments | 39 | 6 | 9 | 15 | 71 | 65 | 70 | |
| Other undisclosed income from continuing operations before income taxes | 845 | 579 | 887 | 614 | 273 | 397 | 279 | |
| Income from continuing operations before income taxes: | 1,010 | 824 | 799 | 974 | 877 | 1,034 | 744 | |
| Income tax expense (benefit) | (6) | 3 | (13) | 0 | (0) | (0) | (2) | |
| Income from continuing operations: | 1,004 | 828 | 786 | 974 | 877 | 1,034 | 742 | |
| Other undisclosed loss before gain (loss) on sale of properties | (312) | (450) | ||||||
| Income before gain (loss) on sale of properties: | 1,004 | 828 | 786 | 974 | 564 | 584 | 742 | |
| Other undisclosed net income | 312 | 450 | ||||||
| Net income: | 1,004 | 828 | 786 | 974 | 877 | 1,034 | 742 | |
| Net income (loss) attributable to noncontrolling interest | (0) | (0) | (0) | 0 | 0 | 0 | 0 | |
| Net income attributable to parent: | 1,004 | 828 | 786 | 975 | 877 | 1,034 | 742 | |
| Undistributed earnings (loss) allocated to participating securities, basic | (3) | (2) | ✕ | ✕ | ||||
| Other undisclosed net income available to common stockholders, basic | 3 | 2 | ||||||
| Net income available to common stockholders, basic: | 1,004 | 828 | 786 | 975 | 877 | 1,034 | 742 | |
| Other undisclosed net income available to common stockholders, diluted | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Net income available to common stockholders, diluted: | 1,004 | 828 | 786 | 975 | 877 | 1,034 | 742 | |
Comprehensive Income ($ in millions)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 1,004 | 828 | 786 | 974 | 877 | 1,034 | 742 | |
| Comprehensive income: | 1,004 | 828 | 786 | 974 | 877 | 1,034 | 742 | |
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (0) | (0) | (0) | 0 | 0 | 0 | 0 | |
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 14 | (9) | (5) | 11 | (7) | 1 | 11 | |
| Comprehensive income, net of tax, attributable to parent: | 1,018 | 819 | 781 | 986 | 870 | 1,035 | 753 | |
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.