Apartment investment & management co (AIV)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09Dec'08
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income

508,027

716,603

347,079

483,273

271,983

356,111

237,825

195,361

-58,164

-89,624

-44,800

627,002

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

380,171

377,786

366,184

333,066

306,301

282,608

291,910

325,173

323,233

363,261

402,035

361,661

Provision for real estate impairment loss

0

0

35,881

0

0

-

0

6,235

0

65

760

-

Loss (gain) on dispositions of real estate

503,168

677,463

300,849

400,156

180,593

288,636

0

0

2,403

10,631

21,574

97,403

Equity in (income) losses of unconsolidated real estate partnerships

-

-

-

-

-

-

-

-

-17,721

-23,112

-11,401

-4,736

Income tax (benefit) expense

-3,135

-13,027

-30,836

-18,842

-27,524

-20,047

-1,959

-858

-5,941

-16,839

-20,473

-56,953

Share-based compensation expense

8,146

8,550

7,877

7,629

6,640

5,781

5,645

4,871

5,381

7,331

6,666

13,833

Amortization of debt issuance costs and other

7,629

9,023

5,666

5,060

5,186

3,814

4,915

5,044

5,696

8,398

8,586

9,432

Other adjustments

-25

-1,065

7,694

6,071

387

-2,649

2,723

17,478

-

-

-

-

Adjustments to net income from discontinued operations

-

-

-

-

-

-

186,068

27,854

27,088

20,247

59,157

70,964

Distributions of earnings from unconsolidated entities

-

-

-

-

-

-

-

-

-

-

4,893

14,619

Depreciation and amortization

-

-

-

-

-

-

-

41,577

72,099

73,572

93,533

153,887

Gain on disposition of real estate

-

-

-

-

-

-

-

234,530

108,203

94,945

222,025

-800,270

Changes in operating assets and operating liabilities:
Accounts receivable

-

-

-

-

-

-

-

-

-

-25,561

-27,067

-4,848

Accounts receivable and other assets

26,021

27,830

15,841

22,294

-619

-9,039

-4,592

-30,716

-8,315

-17,798

-18,954

-75,211

Accounts payable, accrued liabilities and other

2,798

1,681

-15,395

-5,164

-22,334

-29,895

-28,541

-67,138

-26,003

-69,806

-90,368

-32,337

Total adjustments

-133,555

-320,215

44,993

-106,772

87,908

-34,687

87,771

121,466

316,983

347,124

278,612

-186,634

Net cash provided by operating activities

374,472

396,388

392,072

376,501

359,891

321,424

325,596

316,827

258,819

257,500

233,812

440,368

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of real estate and deposits related to purchases of real estate

138,311

242,297

20,372

290,729

169,447

284,041

51,291

89,716

64,976

0

-

112,655

Capital expenditures

393,461

340,489

358,104

346,645

367,180

367,324

350,338

270,210

200,372

178,929

300,344

665,233

Proceeds from dispositions of real estate

628,771

708,848

401,983

535,513

367,571

640,044

357,314

484,904

326,853

218,571

875,931

2,060,344

Payment for mezzanine investment and related transaction costs

277,627

0

0

-

-

-

-

-

-

-

-

-

Purchases of corporate assets

17,584

7,718

8,899

7,540

6,665

8,479

10,863

7,818

15,123

9,399

6,842

-

Purchase of property loans

-

-

-

-

-

-

119,101

0

-

-

-

-

Purchase of investment in debt securities

-

-

-

-

-

-

-

-

51,534

0

-

-

Purchase of West Harlem first mortgage property loans

-

-

-

-

-

-

-

-

0

-

-

-

Proceeds from repayment of property loans and option value

-

-

-

-

-

-

215,517

0

0

-

-

-

Proceeds from sales of and distributions from unconsolidated real estate partnerships

-

-

-

-

-

-

-

31,192

17,095

19,707

-25,067

-94,277

Changes in restricted cash

-

-

-

-

429

-26,315

-3,003

22,886

-10,306

-

-

-

Originations of notes receivable

-

-

-

-

-

-

-

-

-

-

5,778

6,911

Proceeds from repayments on notes receivable

147

5,010

430

412

-

-

-

-

-

-

5,264

8,929

Net increase in cash from consolidation and deconsolidation of entities

-

-

-

-

-

-

-

-

-

13,128

98

-241

Purchases of partnership interests and other assets

-

-

-

-

-

-

-

-

-

-

-

28,121

Other investing activities

7,348

1,508

2,019

-9,842

-5,253

-7,163

-20,951

13,799

-18,245

-23,297

-36,858

6,002

Net cash (used in) provided by investing activities

-205,413

121,846

13,019

-99,147

-170,897

13,678

65,192

111,667

40,494

86,375

630,254

1,344,869

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from non-recourse property debt

774,623

1,228,027

312,434

417,714

352,602

188,503

232,965

243,253

927,093

449,384

788,170

949,549

Principal repayments on non-recourse property debt

520,027

976,087

409,167

371,947

514,294

513,599

472,276

447,792

1,083,690

493,128

1,234,180

1,291,543

(Repayment of) proceeds from term loan

0

-250,000

250,000

-

-

-

-

-

-

-

-

21,367

Proceeds from (Repayments of) Short-term Debt, Maturing in More than Three Months

-

-

-

0

0

-

-

-

-

-

-

-

Net borrowings on (repayments of) revolving credit facility

114,640

93,200

49,230

-9,070

-85,330

61,930

50,400

0

0

-

-

-

Payment of debt issuance costs

4,861

11,961

4,751

7,816

-

-

-

-

-

-

-

-

Payment of debt extinguishment costs

4,491

14,241

399

391

-

-

-

-

-

-

-

-

Repurchases of Common Stock

20,682

373,593

0

0

-

-

-

-

-

-

-

502,296

Proceeds from tax-exempt bond financing

-

-

-

-

-

-

-

-

-

-

-

50,100

Proceeds from issuance of Common Stock

-

-

-

-

366,580

0

0

594,379

71,942

14,046

-

-

Principal repayments on tax-exempt bond financing

-

-

-

-

-

-

-

-

-

-

-

217,361

Payments on term loans

-

-

-

-

-

-

-

-

-

90,000

310,000

75,000

Proceeds from issuance of preferred stock or units

-

-

-

-

-

123,551

0

0

-

96,110

-

-

Repurchases of Preferred Stock

125,000

0

0

34,799

27,000

9,516

0

600,938

36,367

108,000

4,200

24,840

Proceeds from Common Stock option exercises

-

-

-

-

-

-

993

48,907

1,806

1,806

-

481

Payment of dividends to holders of Preferred Stock

3,246

8,594

8,594

10,014

11,099

7,073

2,804

37,019

49,756

53,435

52,215

55,215

Payment of dividends to holders of Common Stock

241,288

237,504

225,377

206,279

184,082

152,002

140,052

104,006

57,583

46,729

95,335

212,286

Payment of distributions to noncontrolling interests

3,780

3,579

314,269

35,706

57,401

49,972

63,766

57,849

58,413

54,557

120,361

330,582

Redemptions of noncontrolling interests in the Aimco Operating Partnership

10,694

9,885

13,546

-

-

-

-

-

-

-

-

-

Contribution from noncontrolling interests in consolidated real estate partnerships

4,911

0

0

-

-

-

-

-

-

-

-

-

Purchases of noncontrolling interests in consolidated real estate partnerships

-

-

-

-

4,517

8,178

16,775

57,008

14,811

17,238

2,560

-

Other financing activities

-2,437

5,233

-2,462

844

-2,635

4,474

-8,135

-17,074

-19,793

-12,069

-51,801

-8,396

Net cash provided by (used in) financing activities

-63,952

-588,180

-393,700

-283,949

-167,176

-361,882

-419,450

-435,147

-319,572

-313,810

-1,082,482

-1,696,022

NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH

105,107

-69,946

11,391

-6,595

21,818

-26,780

-28,662

-6,653

-20,259

30,065

-218,416

89,215

Provision for impairment losses on real estate development assets

-

-

-

-

-

-

-

-

-

-

-

91,138

SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid

160,961

199,996

196,438

200,278

207,087

231,887

273,635

294,423

336,565

311,432

348,341

434,645

Cash paid for income taxes

12,200

11,500

7,400

2,152

2,033

1,657

629

1,056

1,200

1,899

4,560

13,780

Non-cash transactions associated with the acquisition or disposition of real estate:
Non-recourse property debt assumed in connection with the acquisition of real estate

97,565

208,885

0

0

-

65,200

14,767

38,779

0

0

-

-

Deferred tax liability assumed in connection with the acquisition of real estate

-148,809

0

0

-

-

-

-

-

-

-

-

-

Non-recourse, subordinate debt of the disposed legacy asset management business forgiven in connection with the disposition of real estate

-

-

-

-

-

-

8,149

15,019

0

-

-

-

Issuance of preferred OP Units in connection with acquisition of real estate

-

-

-

17,000

0

9,117

0

0

-

-

-

-

Issuance of common OP Units in connection with acquisition of real estate

3,034

50,151

0

0

-

-

-

-

-

-

-

-

Non-recourse property debt assumed by buyer in connection with the disposition of the Asset Management business

0

227,708

0

0

6,068

58,410

126,663

208,134

127,494

157,629

314,265

157,394

Non-cash transactions associated with consolidation and deconsolidation of real estate partnerships:
Other non-cash transactions:
Recognition of right of use lease assets

54,626

0

0

-

-

-

-

-

-

-

-

-

Recognition of lease liabilities

59,251

0

0

-

-

-

-

-

-

-

-

-

Issuance of notes receivable in connection with the disposition of real estate

-

-

-

-

-

-

-

-

-

4,544

3,605

10,372

Redemption of common OP Units for Class A Common Stock

-

-

-

-

-

-

-

-

-

-

7,085

4,182

Cancellation of notes receivable from officers for Class A Common Stock purchases

-

-

-

-

-

-

-

-

-

-

-1,452

-385

Common Stock issued pursuant to special dividends

-

-

-

-

-

-

-

-

-

-

148,746

-487,477

Issuance of common OP Units for acquisition of noncontrolling interests in consolidated real estate partnerships

-

-

-

-

-

-

416

4,553

168

6,854

-

-

Accrued capital expenditures (at end of period)

54,358

40,185

31,719

35,594

43,725

45,701

45,571

-

-

-

-

-

Accrued dividends on TSR restricted stock and LTIP awards (at end of period) (Note 9)

1,420

1,266

1,720

-

-

-

-

-

-

-

-

-

Accrued dividends on TSR restricted stock and LTIP awards (at end of period) (Note 8)

1,420

1,266

1,720

927

309

0

0

-

-

-

-

-

AIMCO Properties, LP [Member]
Net income

508,027

716,603

347,079

483,273

-

-

-

-

-

-

-

-

Depreciation and amortization

380,171

377,786

366,184

333,066

-

-

-

-

-

-

-

-

Provision for real estate impairment loss

0

0

35,881

0

-

-

-

-

-

-

-

-

Loss (gain) on dispositions of real estate

503,168

677,463

300,849

400,156

-

-

-

-

-

-

-

-

Income tax (benefit) expense

-3,135

-13,027

-30,836

-18,842

-

-

-

-

-

-

-

-

Share-based compensation expense

8,146

8,550

7,877

7,629

-

-

-

-

-

-

-

-

Amortization of debt issuance costs and other

7,629

9,023

5,666

5,060

-

-

-

-

-

-

-

-

Other adjustments

-25

-1,065

7,694

6,071

-

-

-

-

-

-

-

-

Accounts receivable and other assets

26,021

27,830

15,841

22,294

-

-

-

-

-

-

-

-

Accounts payable, accrued liabilities and other

2,798

1,681

-15,395

-5,164

-

-

-

-

-

-

-

-

Total adjustments

-133,555

-320,215

44,993

-106,772

-

-

-

-

-

-

-

-

Net cash provided by operating activities

374,472

396,388

392,072

376,501

-

-

-

-

-

-

-

-

Purchases of real estate and deposits related to purchases of real estate

138,311

242,297

20,372

-

-

-

-

-

-

-

-

-

Purchases of real estate and deposits related to purchases of real estate

-

-

-

290,729

-

-

-

-

-

-

-

-

Capital expenditures

393,461

340,489

358,104

346,645

-

-

-

-

-

-

-

-

Proceeds from dispositions of real estate

628,771

708,848

401,983

535,513

-

-

-

-

-

-

-

-

Payment for mezzanine investment and related transaction costs

277,627

0

0

-

-

-

-

-

-

-

-

-

Purchases of corporate assets

17,584

7,718

8,899

7,540

-

-

-

-

-

-

-

-

Proceeds from repayments on notes receivable

147

5,010

430

412

-

-

-

-

-

-

-

-

Other investing activities

7,348

1,508

2,019

-9,842

-

-

-

-

-

-

-

-

Net cash (used in) provided by investing activities

-205,413

121,846

13,019

-99,147

-

-

-

-

-

-

-

-

Proceeds from non-recourse property debt

774,623

1,228,027

312,434

417,714

-

-

-

-

-

-

-

-

Principal repayments on non-recourse property debt

520,027

976,087

409,167

371,947

-

-

-

-

-

-

-

-

(Repayment of) proceeds from term loan

0

-250,000

250,000

-

-

-

-

-

-

-

-

-

Net borrowings on (repayments of) revolving credit facility

114,640

93,200

49,230

-9,070

-

-

-

-

-

-

-

-

Payment of debt issuance costs

4,861

11,961

4,751

7,816

-

-

-

-

-

-

-

-

Payment of debt extinguishment costs

4,491

14,241

399

391

-

-

-

-

-

-

-

-

Repurchases of Common Stock

20,682

373,593

0

0

-

-

-

-

-

-

-

-

Payment of distributions to General Partner and Special Limited Partner

241,288

237,504

225,377

206,279

-

-

-

-

-

-

-

-

Payment of distributions to Limited Partners

13,399

11,987

10,668

10,214

-

-

-

-

-

-

-

-

Redemption of preferred units from Aimco

125,000

0

0

-

-

-

-

-

-

-

-

-

Payment of dividends to holders of Preferred Stock

10,954

16,334

16,358

17,253

-

-

-

-

-

-

-

-

Payment of distributions to noncontrolling interests

513

9,469

8,367

18,253

-

-

-

-

-

-

-

-

Redemption of noncontrolling interests in the Aimco Operating Partnership

-

-

-

12,544

-

-

-

-

-

-

-

-

Redemption of common and preferred units

10,694

9,885

13,546

12,544

-

-

-

-

-

-

-

-

Contribution from noncontrolling interests in consolidated real estate partnerships

4,911

0

0

-

-

-

-

-

-

-

-

-

Purchases of noncontrolling interests in consolidated real estate partnerships

-

-

-

13,941

-

-

-

-

-

-

-

-

Purchases of noncontrolling interests in consolidated real estate partnerships

3,780

3,579

314,269

-

-

-

-

-

-

-

-

-

Other financing activities

-2,437

5,233

-2,462

844

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

-63,952

-588,180

-393,700

-283,949

-

-

-

-

-

-

-

-

NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH

105,107

-69,946

11,391

-6,595

-

-

-

-

-

-

-

-

Interest paid

160,961

199,996

196,438

200,278

-

-

-

-

-

-

-

-

Cash paid for income taxes

12,238

11,522

7,401

2,152

-

-

-

-

-

-

-

-

Non-recourse property debt assumed in connection with the acquisition of real estate

97,565

208,885

0

-

-

-

-

-

-

-

-

-

Deferred tax liability assumed in connection with the acquisition of real estate

-148,809

0

0

-

-

-

-

-

-

-

-

-

Issuance of common OP Units in connection with acquisition of real estate

3,034

50,151

0

17,000

-

-

-

-

-

-

-

-

Non-recourse property debt assumed by buyer in connection with the disposition of the Asset Management business

0

227,708

0

0

-

-

-

-

-

-

-

-

Recognition of right of use lease assets

54,626

0

0

-

-

-

-

-

-

-

-

-

Recognition of lease liabilities

59,251

0

0

-

-

-

-

-

-

-

-

-

Accrued capital expenditures (at end of period)

54,358

40,185

31,719

35,594

-

-

-

-

-

-

-

-

Accrued dividends on TSR restricted stock and LTIP awards (at end of period) (Note 9)

1,420

1,266

1,720

-

-

-

-

-

-

-

-

-

AIMCO Properties, L.P.
Proceeds from (Repayments of) Short-term Debt, Maturing in More than Three Months

-

-

-

0

-

-

-

-

-

-

-

-

Redemptions of Preferred Stock

-

-

-

34,799

-

-

-

-

-

-

-

-

Accrued dividends on TSR restricted stock and LTIP awards (at end of period) (Note 8)

1,420

1,266

1,720

927

-

-

-

-

-

-

-

-

Subsidiaries [Member]
Redemptions of noncontrolling interests in the Aimco Operating Partnership

-

-

-

13,941

-

-

-

-

-

-

-

-

Non-recourse property debt assumed in connection with the acquisition of real estate

-

-

-

0

-

-

-

-

-

-

-

-