AMERICA FIRST MULTIFAMILY INVESTORS, L.P. ATAX Income Statement

America first multifamily investors, l.p. (ATAX)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Revenues:
Investment income
11,543	13,150	12,589	12,074	12,407	13,119	12,733	12,249	13,378	12,338	12,242	12,174	11,470	9,654	9,071	9,009	9,157	8,555	8,485	9,388	7,979	7,200	6,958	6,241	6,205	5,092	5,247	4,595	7,716	3,307	3,110	2,288	2,371	2,092	2,465	2,407	2,220	2,011	1,538
Property revenues
1,952	2,078	1,974	2,034	1,993	2,049	2,285	2,403	2,336	3,218	3,244	3,306	3,729	3,920	3,414	4,994	5,074	5,276	4,124	4,086	4,302	3,489	3,675	3,134	3,951	1,131	4,299	3,952	3,732	683	3,186	2,855	2,960	-219	3,598	4,031	3,565	3,698	3,728
Contingent interest income
12	0	3	30	3,012	-	4,246	-	-	2,927	0	86	132	1,711	90	45	174	-	-	-	-	-	-	-	-	-	0	6,497	-	-	0	0	-	-	-	-	-	-	-
Other interest income
228	215	206	206	222	616	5,217	1,058	743	2,634	735	666	645	617	645	883	514	1,885	287	227	224	183	222	242	208	214	216	96	1,244	52	15	43	39	-	-	-	-	-	-
Gain on sale of MF Properties
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,417	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on mortgage revenue bonds - sale and redemption
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	849	2,835	-	0	0	0	-	0	667	-	-	-	-	-	-	-
Gain on sale of bonds
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-
Other income
-	-2	91	0	28	-	1,518	74	-	752	12	0	62	-	-	-	-	-	-	-	-	-	188	-	-	0	0	0	250	555	0	0	0	-465	359	148	251	112	115
Gains (Losses) on Extinguishment of Debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	438
Total revenues
13,736	15,441	14,865	14,346	17,664	23,111	26,001	15,785	16,458	21,872	16,234	16,234	16,040	15,903	13,221	14,933	14,919	20,847	12,897	13,702	12,506	7,229	11,043	10,467	13,200	6,437	9,764	15,140	12,944	4,611	6,312	5,855	5,371	2,649	6,423	6,587	6,037	5,821	5,821
Expenses:
Real estate operating (exclusive of items shown below)
1,175	995	1,381	919	1,176	1,007	1,606	1,290	1,395	1,897	2,225	1,621	2,484	1,964	2,252	2,369	2,636	2,373	2,933	2,275	2,471	1,797	2,091	1,807	2,100	639	2,609	2,315	2,057	527	2,135	1,745	1,615	164	2,088	2,374	2,132	2,282	3,073
Impairment of securities
-	-	-	-	-	-	309	831	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment charge on real estate assets
-	-	75	-	-	-	150	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Mortgage Loans on Real Estate, Write-down or Reserve, Amt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-4,557	-	-	0	-	-	-	-	-	-	-	-
Mortgage Loans on Real Estate, Write-down or Reserve, Amt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-4,557	-	-	0	-	-	-	-	-	-	-	-
Realized loss on taxable loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-
Provision for loan loss
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	238	-	0	0	-	-	-	-	-	-	-
Provision for credit loss (Note 6)
1,357	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	98	-	-	75	0	-	-238	72	96	238	-214	-261	238	238	-	-	-	-	-	-
Recovery of loss on receivables
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	98	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for loan loss
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14	710	0	0	0
Impairment charge
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	61	-	-	-	-	-	-	0	-	-	-	0	3	-	-	-	-	-	-	-	-	-	2,716	-
Depreciation and amortization
709	707	743	819	820	863	864	921	906	1,090	1,259	1,270	1,592	1,569	1,361	1,806	2,124	2,208	1,405	1,436	1,454	399	1,593	1,291	1,613	818	1,762	1,661	1,581	610	1,231	1,150	1,063	202	1,311	1,316	1,133	1,430	1,240
Amortization of deferred financing costs
-	-	-	-	-	-	-	-	-	444	577	562	740	512	425	392	532	554	423	306	338	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense
-6,017	-5,606	-6,509	-6,206	-6,394	-6,771	-6,394	-6,349	-5,347	-5,157	-5,714	-5,841	-5,442	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,485	4,322	4,770	3,142	4,754	2,993	3,936	4,078	2,575	2,342	2,169	1,702	2,325	1,426	1,536	957	1,551	1,496	1,268	1,000	2,036	1,630	773	1,184	872
General and administrative
2,898	3,296	6,992	2,496	2,778	3,575	3,653	3,041	2,811	3,564	3,197	2,876	3,130	3,362	2,377	2,764	2,332	2,446	2,380	2,026	1,807	1,467	1,409	1,398	1,270	1,139	985	1,141	970	978	834	1,048	650	720	725	677	641	637	590
Total expenses
12,158	10,605	15,701	10,442	11,171	12,218	12,979	12,434	10,460	12,916	12,974	12,171	13,390	10,300	9,902	11,717	12,396	10,725	11,798	9,136	10,007	8,926	7,745	6,839	7,154	4,301	7,755	11,201	6,383	3,312	5,491	5,679	4,836	6,558	6,175	6,709	4,680	8,251	5,776
Other Income:
Gain on sales of real estate assets, net
-	-	-	-	-	-	4,051	-	-	10,600	0	-16	7,168	-	1,633	12,442	-	-	1,187	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of securities
1,416	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of investments in unconsolidated entities
-	-	10,475	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	8	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income before income taxes
2,993	10,501	9,639	3,903	6,493	13,796	17,073	3,351	5,997	19,556	3,260	4,046	9,818	5,598	4,953	15,658	2,531	-	2,286	7,983	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income tax expense
11	55	-68	17	41	-117	-809	13	-7	3,909	-285	-63	2,458	-	331	4,653	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,115	2,286	7,983	2,499	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (loss) from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,008	3,939	6,561	-	821	176	534	-	248	-121	1,357	-	-
Income from discontinued operations (including gain on sale of VIEs of approximately $3.2 million in 2015)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,204	253	238	24	-	-	-	-	-111	1,342	166	1,933	-	1,526	251	235	-	29	0	14	-	-
Income from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,297	3,627	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6	30	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income
-	-	-	-	-	-	-	-	-	15,647	3,545	4,109	7,360	5,623	4,622	11,005	2,531	13,320	2,540	8,221	2,523	2,019	3,304	3,658	6,046	2,025	3,351	4,106	8,494	1,449	2,348	428	769	-3,201	277	-120	1,371	-2,429	45
Net income (loss) attributable to noncontrolling interest
-	-	-	-	-	-	-	-	-	0	0	0	71	-0	-0	-0	-0	-1	-0	0	-0	-1	-3	-0	-0	-1	-59	150	172	150	137	122	139	120	145	122	182	-221	-521
Net income
2,981	10,446	9,707	3,886	6,451	13,914	17,883	3,338	6,004	15,647	3,545	4,109	7,288	5,623	4,623	11,005	2,531	13,322	2,540	8,221	2,524	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income
-	-	-	-	-	-	-	-	-	15,647	3,545	4,109	7,360	-	4,622	11,005	-	13,320	2,540	8,221	2,523	-	3,304	3,658	6,046	-	3,351	4,106	8,494	1,449	2,348	428	769	-3,201	277	-120	1,371	-2,429	45
Redeemable Series A Preferred Unit distributions and accretion
717	717	717	717	717	717	717	717	717	701	523	432	324	274	181	124	1	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income available to Partners
2,263	9,728	8,990	3,168	5,734	13,196	17,165	2,620	5,286	14,945	3,021	3,676	6,964	5,348	4,441	10,880	2,530	13,323	2,540	8,221	2,523	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income (loss) available to Partners allocated to:
Net (loss) income - America First Tax Exempt Investors, L.P.
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,307	3,658	6,046	-	3,411	3,955	8,321	1,298	2,211	306	630	-3,321	132	-243	1,189	-2,207	566
General Partner
-53	24	1,266	31	780	43	2,163	26	52	927	30	35	1,147	478	324	2,121	67	1,235	310	901	26	31	34	247	742	22	373	508	511	182	333	165	8	77	3	56	14	-13	16
Limited Partners
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,251	2,643	-	3,438	3,552	5,417	2,258	3,356	3,749	8,050	1,626	2,390	399	861	-3,049	371	116	1,454	-1,331	1,430
Unallocated gain of Consolidated VIEs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,773	26	67	-146	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unallocated gain (loss) of Consolidated Property VIEs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-165	-141	-112	-	-318	-302	-240	-510	-513	-259	-239	-349	-242	-416	-280	-862	-880
Net income (loss) attributable to noncontrolling interest
-	-	-	-	-	-	-	-	-	0	0	0	71	-0	-0	-0	-0	-1	-0	0	-0	-1	-3	-0	-0	-1	-59	150	172	150	137	122	139	120	145	122	182	-221	-521
Net income available to Partners and noncontrolling interest
2,263	9,728	8,990	3,168	5,734	13,196	17,165	2,620	5,286	14,945	3,021	3,676	7,035	5,348	4,440	10,880	2,530	-	2,540	8,221	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income available to Partners and noncontrolling interest
2,263	9,728	8,990	3,168	5,734	13,196	17,165	2,620	5,286	14,945	3,021	3,676	6,964	-	4,441	10,880	-	13,322	2,540	8,222	2,523	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.14	0.04	0.12	0.04	-	0.06	0.05	-	0.32	0.00	0.00	0.00	0.06	0.00	0.00	0.03	-	0.01	-	-	-	-
Income from discontinued operations (Note 2)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	0.00	-	0.01	0.03	0.00	0.04	0.00	0.04	0.01	0.00	-	0.00	-	-	-	-
BUC holders' interest in net income per BUC, basic and diluted
0.04	0.16	0.13	0.05	0.08	0.22	0.25	0.04	0.09	0.23	0.05	0.06	0.10	0.08	0.07	0.15	0.04	0.14	0.04	0.12	0.04	0.04	0.06	0.05	0.10	0.04	0.08	0.09	0.19	0.04	0.06	0.01	0.03	-0.10	0.01	0.00	0.05	-0.04	0.05
Distributions declared, per BUC
-	-	-	-	-	-	-	-	-	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	0.12	-	0.12	-	-	-	-	-	-	-	-
Weighted average number of BUCs outstanding, basic
60,754	60,835	60,519	60,426	60,426	60,143	59,907	59,937	60,124	59,868	59,811	59,862	60,037	60,046	60,176	60,252	60,252	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Weighted average number of BUCs outstanding, diluted
60,754	60,835	60,519	60,426	60,426	60,143	59,907	59,937	60,124	59,868	59,811	59,862	60,037	60,046	60,176	60,252	60,252	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Weighted average number of units outstanding, basic and diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	60,252	60,252	60,252	-	60,252	60,252	56,919	45,495	42,772	42,772	42,772	42,891	42,772	33,682	30,122	30,122	30,122	30,122	30,122	30,122	27,765
Beneficial Unit Certificate Holders [Member]
Limited Partners
2,312	9,703	7,695	3,103	4,920	13,092	14,933	2,530	5,199	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restricted Unitholders [Member]
Limited Partners
5	-0	28	33	33	59	68	63	34	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-