APARTMENT INVESTMENT & MANAGEMENT CO
For the period ended Mar 31, 2024. Filed May 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 8, 2024
AIV$1.57+2.6%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Operations (Unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per unit data)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| REVENUES | ||
| Rental and other property revenues | $50,203 | $44,268 |
| OPERATING EXPENSES | ||
| Property operating expenses | 21,199 | 17,504 |
| Depreciation and amortization | 19,468 | 16,271 |
| General and administrative expenses | 8,549 | 8,403 |
| Total operating expenses | 49,216 | 42,178 |
| Interest income | 2,648 | 2,058 |
| Interest expense | (13,370) | (9,725) |
| Realized and unrealized gains (losses) on interest rate options | 1,672 | (1,057) |
| Realized and unrealized gains (losses) on equity investments | (271) | 137 |
| Income from unconsolidated real estate partnerships | 312 | 174 |
| Other income (expense), net | (1,904) | (3,626) |
| Income (loss) before income tax | (9,926) | (9,949) |
| Income tax benefit (expense) | 2,730 | 4,196 |
| Net income (loss) | (7,196) | (5,753) |
| Net (income) loss attributable to redeemable noncontrolling interests in consolidated real estate partnerships | (3,560) | (3,274) |
| Net (income) loss attributable to noncontrolling interests in consolidated real estate partnerships | 16 | (264) |
| Net income (loss) attributable to Aimco Operating Partnership | $(10,740) | $(9,291) |
| Net income (loss) attributable to Aimco Operating Partnership per common unit – basic (Note 4) | $(0.07) | $(0.06) |
| Net income (loss) attributable to Aimco Operating Partnership per common unit – diluted (Note 4) | $(0.07) | $(0.06) |
| Weighted-average common units outstanding – basic | 148,257 | 153,631 |
| Weighted-average common units outstanding – diluted | 148,257 | 153,631 |
CONDENSED CONSOLIDATED STATEMENTS OF PARTNERS’ CAPITAL
For the Three Months Ended March 31, 2024 and 2023
| General Partnerand SpecialLimited Partner | LimitedPartners | Partners’ CapitalAttributable to Aimco Operating Partnership | NoncontrollingInterests in Consolidated Real Estate Partnerships | TotalPartners’Capital | |
|---|---|---|---|---|---|
| Balances at December 31, 2022 | $547,852 | $29,212 | $577,064 | $48,294 | $625,358 |
| Net income (loss) | (8,817) | (474) | (9,291) | 264 | (9,027) |
| Redemption of OP Units held by third parties | 4,293 | (4,547) | (254) | — | (254) |
| Share-based compensation expense | 1,696 | 3,126 | 4,822 | — | 4,822 |
| Contributions from noncontrolling interests in consolidated real estate partnerships | — | — | — | 50 | 50 |
| Distributions to noncontrolling interests in consolidated real estate partnerships | — | — | — | (287) | (287) |
| Redemption of OP Units held by Aimco | (14,721) | — | (14,721) | — | (14,721) |
| Other OP Unit issuances | 1,540 | 1,272 | 2,812 | — | 2,812 |
| Other, net | (4) | — | (4) | — | (4) |
| Balances at March 31, 2023 | 531,839 | 28,589 | 560,428 | 48,321 | 608,749 |
| Balances at December 31, 2023 | 349,652 | 19,061 | 368,713 | 51,265 | 419,978 |
| Net income (loss) | (10,186) | (554) | (10,740) | (16) | (10,756) |
| Redemption of OP Units held by third parties | (28) | (257) | (285) | — | (285) |
| Share-based compensation expense | 1,928 | 6 | 1,934 | — | 1,934 |
| Contributions from noncontrolling interests in consolidated real estate partnerships | — | — | — | 485 | 485 |
| Distributions to noncontrolling interests in consolidated real estate partnerships | — | — | — | (401) | (401) |
| Redemption of OP Units held by Aimco | (6,555) | — | (6,555) | — | (6,555) |
| Other OP Unit issuances, net of withholding taxes | 1,020 | — | 1,020 | — | 1,020 |
| Balances at March 31, 2024 | $335,831 | $18,256 | $354,087 | $51,333 | $405,420 |
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