APARTMENT INVESTMENT & MANAGEMENT CO

For the period ended Jun 30, 2024. Filed Aug 7, 2024.

About this filing

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.

Jun 30, 2024 · Filed Aug 7, 2024

AIV$1.57+2.6%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Operations (Unaudited)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per unit data)

	Three Months Ended June 30,		Six Months Ended June 30,
	2024	2023	2024	2023
REVENUES
Rental and other property revenues	$51,148	$45,674	$101,350	$89,942
OPERATING EXPENSES
Property operating expenses	22,557	18,783	43,756	36,287
Depreciation and amortization	22,110	17,031	41,578	33,302
General and administrative expenses	7,577	7,890	16,126	16,293
Total operating expenses	52,244	43,704	101,460	85,882
Interest income	2,535	2,478	5,183	4,536
Interest expense	(16,820)	(9,656)	(30,190)	(19,381)
Realized and unrealized gains (losses) on interest rate contracts	640	3,383	2,312	2,326
Realized and unrealized gains (losses) on equity investments	(47,264)	1,094	(47,535)	1,231
Gain on dispositions of real estate	—	1,878	—	1,878
Other income (expense), net	(1,286)	(1,420)	(2,876)	(4,872)
Income (loss) before income tax	(63,291)	(273)	(73,216)	(10,222)
Income tax benefit (expense)	2,188	417	4,917	4,613
Net income (loss)	(61,103)	144	(68,299)	(5,609)
Net (income) loss attributable to redeemable noncontrolling interests in consolidated real estate partnerships	(3,598)	(3,576)	(7,158)	(6,849)
Net (income) loss attributable to noncontrolling interests in consolidated real estate partnerships	811	(348)	827	(613)
Net income (loss) attributable to Aimco Operating Partnership	$(63,890)	$(3,780)	$(74,630)	$(13,071)
Net income (loss) attributable to Aimco Operating Partnership per common unit – basic (Note 4)	$(0.43)	$(0.02)	$(0.50)	$(0.09)
Net income (loss) attributable to Aimco Operating Partnership per common unit – diluted (Note 4)	$(0.43)	$(0.02)	$(0.50)	$(0.09)
Weighted-average common units outstanding – basic	147,451	151,966	147,854	152,795
Weighted-average common units outstanding – diluted	147,451	151,966	147,854	152,795

CONDENSED CONSOLIDATED STATEMENTS OF PARTNERS’ CAPITAL

For the Three Months Ended June 30, 2024 and 2023

	General Partnerand SpecialLimited Partner	LimitedPartners	Partners’ CapitalAttributable to Aimco Operating Partnership	NoncontrollingInterests in Consolidated Real Estate Partnerships	TotalPartners’Capital
Balances at March 31, 2023	$531,839	$28,589	$560,428	$48,321	$608,749
Net income (loss)	(3,602)	(178)	(3,780)	348	(3,432)
Redemption of OP Units held by third parties and reallocation of limited partners' interests in Aimco OP	(37)	(329)	(366)	—	(366)
Share-based compensation expense	1,853	23	1,876	—	1,876
Contributions from noncontrolling interests in consolidated real estate partnerships	—	—	—	113	113
Distributions to noncontrolling interests in consolidated real estate partnerships	—	—	—	(310)	(310)
Redemption of OP Units held by Aimco	(7,870)	—	(7,870)	—	(7,870)
Other, net	(1)	—	(1)	—	(1)
Balances at June 30, 2023	$522,182	$28,105	$550,287	$48,472	$598,759
Balances at March 31, 2024	$335,831	$18,256	$354,087	$51,333	$405,420
Net income (loss)	(60,526)	(3,364)	(63,890)	(811)	(64,701)
Redemption of OP Units held by third parties and reallocation of limited partners' interests in Aimco OP	694	(809)	(115)	—	(115)
Share-based compensation expense	1,906	6	1,912	—	1,912
Contributions from noncontrolling interests in consolidated real estate partnerships	—	—	—	194	194
Distributions to noncontrolling interests in consolidated real estate partnerships	—	—	—	(436)	(436)
Redemption of OP Units held by Aimco	(24,432)	—	(24,432)	—	(24,432)
Other, net	63	—	63	—	63
Balances at June 30, 2024	$253,536	$14,089	$267,625	$50,280	$317,905

CONDENSED CONSOLIDATED STATEMENTS OF PARTNERS’ CAPITAL

For the Six Months Ended June 30, 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)	(12,419)	(652)	(13,071)	613	(12,458)
Redemption of OP Units held by third parties and reallocation of limited partners' interests in Aimco OP	4,256	(4,876)	(620)	—	(620)
Share-based compensation expense	3,549	3,149	6,698	—	6,698
Contributions from noncontrolling interests in consolidated real estate partnerships	—	—	—	163	163
Distributions to noncontrolling interests in consolidated real estate partnerships	—	—	—	(597)	(597)
Redemption of OP Units held by Aimco	(22,592)	—	(22,592)	—	(22,592)
Other OP Unit issuances	1,540	1,272	2,812	—	2,812
Other, net	(4)	—	(4)	(1)	(5)
Balances at June 30, 2023	522,182	28,105	550,287	48,472	598,759
Balances at December 31, 2023	349,652	19,061	368,713	51,265	419,978
Net income (loss)	(70,712)	(3,918)	(74,630)	(827)	(75,457)
Redemption of OP Units held by third parties and reallocation of limited partners' interests in Aimco OP	666	(1,066)	(400)	—	(400)
Share-based compensation expense	3,834	12	3,846	—	3,846
Contributions from noncontrolling interests in consolidated real estate partnerships	—	—	—	679	679
Distributions to noncontrolling interests in consolidated real estate partnerships	—	—	—	(837)	(837)
Redemption of OP Units held by Aimco	(30,987)	—	(30,987)	—	(30,987)
Other OP Unit issuances, net of withholding taxes	1,020	—	1,020	—	1,020
Other, net	63	—	63	—	63
Balances at June 30, 2024	$253,536	$14,089	$267,625	$50,280	$317,905

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.