AMERICAN CAMPUS COMMUNITIES, INC. ACC Income Statement

American campus communities, inc. (ACC)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08
Revenues:
Total revenues
943,042	880,810	796,447	786,361	753,381	733,915	657,462	465,655	361,910	326,110	290,073	231,155
Operating expenses (income):
Third-party development and management services
19,915	15,459	15,225	14,533	14,346	12,008	10,935	10,898	11,368	12,781	11,250	11,123
General and administrative
31,081	34,537	31,386	22,493	20,838	18,681	16,541	22,965	12,752	11,561	10,955	11,274
Depreciation and amortization
275,046	263,203	234,955	211,387	208,788	197,495	184,988	110,499	80,840	72,444	70,048	55,865
Ground/facility leases
14,151	11,855	10,213	9,167	8,232	7,397	5,402	4,248	3,608	2,944	2,107	1,778
Gain from disposition of real estate
-53	42,314	-632	21,197	52,699	-368	0	0	-	-	-	-
Provision for impairment
17,214	0	15,317	4,895	0	2,443	0	0	-	-	-	-
Other Operating Income
0	2,648	0	0	-	-	-	-	-	-	-	-
Total operating expenses
763,152	668,215	654,541	592,021	596,477	578,929	525,709	359,809	272,771	243,438	226,333	190,932
Operating income
179,890	212,595	141,906	194,340	156,904	154,986	131,753	105,846	89,139	82,672	63,740	40,223
Nonoperating income (expenses):
Interest income
3,686	4,834	4,945	5,481	4,421	4,168	3,005	1,756	579	186	118	1,128
Interest Expense
111,287	99,228	71,122	78,687	87,789	90,362	78,028	54,518	49,601	59,523	58,225	48,626
Amortization of deferred financing costs
5,012	5,816	4,619	6,520	5,550	5,918	5,608	4,425	5,032	4,423	3,232	2,546
Loss from early extinguishment of debt
20,992	7,867	0	-12,841	-1,770	0	0	-1,591	0	-	-	-
Income from unconsolidated joint ventures
-	-	-	-	-	-	-	444	-641	-2,023	-2,073	-1,619
Other nonoperating income
0	1,301	0	0	388	186	-2,666	411	0	5,690	402	486
Total nonoperating expenses
-91,621	-91,042	-70,796	-92,567	-37,601	-92,294	-83,297	-56,332	-54,695	-60,093	-63,010	-51,177
Income before income taxes
88,269	121,553	71,110	101,773	119,303	62,692	48,456	49,514	34,444	22,579	730	-10,954
Income tax provision
1,507	2,429	989	1,150	1,242	1,308	1,020	725	433	570	540	388
Net income
-	-	-	-	-	61,384	47,436	48,789	34,011	22,009	190	-11,342
Discontinued operations:
Loss attributable to discontinued operations
-	-	-	-	-	-123	4,824	8,728	9,155	-1,206	-3,292	-1,477
Loss from early extinguishment of debt
-	-	-	-	-	-	-332	-	-	-	-	-
Gain from disposition of real estate
-	-	-	-	-	2,843	55,263	4,312	14,806	-3,705	-9,358	-
Total discontinued operations
-	-	-	-	-	2,720	59,755	11,449	23,961	-4,911	-12,650	-1,477
Net income
86,762	119,124	70,121	100,623	118,061	64,104	107,191	60,238	57,972	17,098	-12,460	-12,819
Net income attributable to noncontrolling interests – partially owned properties
1,793	2,029	1,083	1,562	2,070	1,265	2,547	3,602	1,343	888	380	236
Net income attributable to ACC, Inc. and Subsidiaries common stockholders
84,969	117,095	69,038	99,061	115,991	62,839	104,644	56,636	56,629	16,210	-12,840	-13,055
Net income attributable to common unitholders
-	-	-	-	114,905	61,763	103,717	-	-	-	-	-
Other comprehensive loss
Change in fair value of interest rate swaps and other
-12,549	-1,696	1,366	1,763	464	-4,859	5,226	-3,301	2,143	-1,147	-	-
Comprehensive income
72,420	115,399	70,404	100,824	116,455	57,980	109,870	53,335	58,772	15,063	-	-
Net income per share attributable to ACC, Inc. and Subsidiaries common shareholders
Basic (in dollars per share)
0.61	0.84	0.50	0.76	-	0.59	0.99	0.66	0.81	0.27	-0.28	-0.36
Diluted (in dollars per share)
0.60	0.84	0.50	0.75	-	0.58	0.98	0.65	0.80	0.26	-0.28	-0.36
Income per share attributable to ACC, Inc. and Subsidiaries common stockholders diluted
Basic (in dollars per share)
-	-	-	-	-	0.56	0.43	0.53	0.47	0.35	-0.03	-0.32
Diluted (in dollars per share)
-	-	-	-	-	0.56	0.42	0.52	0.46	0.34	-0.03	-0.32
Net income per unit attributable to common unitholders
Weighted-average common shares outstanding:
Basic (in shares)
137,295	136,815	135,141	129,228	111,987	105,032	104,760	84,711	69,243	57,682	48,706	36,947
Diluted (in shares)
138,286	137,722	136,002	130,018	114,032	105,711	105,382	85,309	69,807	59,338	48,706	36,947
Weighted-average common units outstanding
Distributions declared per common share (in dollars per share)
-	-	-	1.66	1.58	1.50	1.42	-	-	-	1.35	1.35
Distributions declared per Common Unit (in dollars per unit)
-	-	-	-	-	-	-	-	-	1.35	-	-
Owned properties
Owned properties and on-campus participating properties revenue
877,565	825,959	738,710	735,392	-	-	-	-	-	-	-	192,277
Operating expenses
390,664	373,521	332,429	337,296	-	-	-	-	-	-	-	100,121
On-campus participating properties
Owned properties and on-campus participating properties revenue
36,346	34,596	33,945	33,433	-	-	-	-	-	-	-	22,042
Operating expenses
15,028	14,602	14,384	13,447	-	-	-	-	-	-	-	10,771
Third-party development services
Contract with customer, revenue
13,051	7,281	10,761	4,606	4,964	4,018	2,483	8,574	7,497	9,302	5,015	7,922
Third-party management services
Contract with customer, revenue
12,936	9,814	9,832	9,724	8,813	7,669	7,514	6,893	7,254	8,670	8,795	6,578
Resident services
Contract with customer, revenue
3,144	3,160	3,199	3,206	3,109	3,112	2,614	1,605	1,353	1,297	1,115	2,336
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP LP
Total revenues
943,042	880,810	796,447	786,361	-	-	-	-	-	-	-	-
Third-party development and management services
19,915	15,459	15,225	14,533	-	-	-	-	-	-	-	-
General and administrative
31,081	34,537	31,386	22,493	-	-	-	-	-	-	-	-
Depreciation and amortization
275,046	263,203	234,955	211,387	-	-	-	-	-	-	-	-
Ground/facility leases
14,151	11,855	10,213	9,167	-	-	-	-	-	-	-	-
Gain from disposition of real estate
-53	42,314	-632	-21,197	-	-	-	-	-	-	-	-
Provision for impairment
17,214	0	15,317	4,895	-	-	-	-	-	-	-	-
Other Operating Income
0	2,648	0	0	-	-	-	-	-	-	-	-
Total operating expenses
763,152	668,215	654,541	592,021	-	-	-	-	-	-	-	-
Operating income
179,890	212,595	141,906	194,340	-	-	-	-	-	-	-	-
Interest income
3,686	4,834	4,945	5,481	-	-	-	-	-	-	-	-
Interest Expense
111,287	99,228	71,122	78,687	-	-	-	-	-	-	-	-
Amortization of deferred financing costs
5,012	5,816	4,619	6,520	-	-	-	-	-	-	-	-
Loss from early extinguishment of debt
20,992	7,867	0	-12,841	-	-	-	-	-	-	-	-
Other nonoperating income
0	1,301	0	0	-	-	-	-	-	-	-	-
Total nonoperating expenses
-91,621	-91,042	-70,796	-92,567	-	-	-	-	-	-	-	-
Income before income taxes
88,269	121,553	71,110	101,773	-	-	-	-	-	-	-	-
Income tax provision
1,507	2,429	989	1,150	-	-	-	-	-	-	-	-
Net income
86,762	119,124	70,121	100,623	-	-	-	-	-	-	-	-
Net income attributable to noncontrolling interests – partially owned properties
1,398	1,215	-	-	-	-	-	-	-	-	-	-
Net income attributable to ACC, Inc. and Subsidiaries common stockholders
85,364	117,909	69,686	100,167	-	-	-	-	-	-	-	-
Series A preferred unit distributions
68	124	124	146	-	-	-	-	-	-	-	-
Net income attributable to common unitholders
85,296	117,785	69,562	100,021	-	-	-	-	-	-	-	-
Change in fair value of interest rate swaps and other
-12,549	-1,696	1,366	1,763	-	-	-	-	-	-	-	-
Comprehensive income
72,747	116,089	70,928	101,784	-	-	-	-	-	-	-	-
Basic (in shares)
0.61	0.85	0.50	0.76	-	-	-	-	-	-	-	-
Diluted (in dollars per unit)
0.60	0.84	0.50	0.75	-	-	-	-	-	-	-	-
Basic (in units)
137,826	137,586	136,160	130,460	-	-	-	-	-	-	-	-
Diluted (in units)
138,817	138,493	137,021	131,250	-	-	-	-	-	-	-	-
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P.
Distributions declared per Common Unit (in dollars per unit)
-	-	-	1.66	-	-	-	-	-	-	-	-