AVALONBAY COMMUNITIES, INC. AVB Balance Sheet

Avalonbay communities, inc. (AVB)

Balance Sheet / 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	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09	Jun'09	Dec'08
ASSETS
Real estate:
Land and improvements
4,336	4,299	4,185	4,137	4,070	4,077	4,186	4,188	4,226	4,237	4,074	3,990	3,981	3,941	3,894	3,793	3,742	3,636	3,584	3,524	3,489	3,413	3,436	3,417	3,346	3,251	3,302	3,310	3,287	1,406	1,438	1,378	1,375	1,312	1,353	1,348	1,344	1,330	1,330	1,294	1,273	1,249	1,239	1,212	1,119
Buildings and improvements
16,818	16,668	16,256	15,988	15,783	15,651	15,808	15,686	15,733	15,708	15,180	14,719	14,496	14,314	13,993	13,636	13,433	13,056	12,873	12,634	12,414	12,191	12,098	11,739	11,460	11,007	11,116	11,249	11,188	6,847	7,171	6,956	6,803	6,574	6,759	6,761	6,688	6,486	6,409	6,213	6,066	5,980	6,034	5,874	5,281
Furniture, fixtures and equipment
875	829	795	757	733	696	673	648	636	615	592	556	546	532	515	492	481	458	448	429	413	400	388	374	357	338	333	325	318	249	251	243	235	223	223	220	213	200	197	194	189	185	186	183	170
Gross operating real estate
22,030	21,796	21,237	20,883	20,587	20,424	20,667	20,523	20,596	20,561	19,847	19,266	19,024	18,789	18,403	17,922	17,657	17,151	16,906	16,587	16,317	16,006	15,923	15,531	15,163	14,598	14,752	14,885	14,794	8,502	8,862	8,577	8,414	8,109	8,336	8,331	8,246	8,017	7,937	7,703	7,529	7,415	7,460	7,270	6,570
Less accumulated depreciation
5,327	5,164	5,003	4,872	4,748	4,601	4,585	4,459	4,345	4,218	4,079	3,969	3,852	3,743	3,591	3,540	3,430	3,303	3,212	3,092	2,989	2,847	2,799	2,695	2,608	2,455	2,445	2,326	2,143	1,945	2,013	1,947	1,900	1,780	1,825	1,787	1,767	1,659	1,650	1,590	1,533	1,474	1,482	1,458	1,268
Net operating real estate
16,703	16,632	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,555	-	-	-	-	6,557	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Construction in progress, including land
1,273	1,303	1,411	1,939	1,856	1,768	1,651	1,525	1,375	1,306	1,559	1,736	1,791	1,882	1,439	1,538	1,587	1,592	1,542	1,536	1,460	1,417	1,343	1,478	1,646	1,582	1,418	1,146	1,003	802	725	681	688	597	483	399	330	309	402	492	580	531	607	783	867
Land held for development
38	0	20	18	104	84	116	130	136	68	85	86	103	84	519	511	477	484	553	487	536	180	176	195	250	300	282	409	359	316	304	294	297	325	263	225	193	184	228	237	206	237	243	225	239
Net operating real estate
18,408	18,432	16,233	16,010	15,838	15,822	16,082	16,064	16,251	16,342	15,767	15,297	15,171	15,045	14,812	14,381	14,226	13,847	13,694	13,495	13,327	13,159	13,124	12,835	-	12,142	12,307	12,559	12,651	338	6,848	6,630	6,513	6,329	6,511	6,544	6,479	6,357	6,286	6,112	5,995	5,940	5,978	5,811	5,302
Real estate assets held for sale, net
28	38	0	40	76	55	79	140	121	0	33	15	0	20	100	65	20	17	0	61	59	178	80	0	-	258	275	-	-	-	-	-	38	172	58	18	-	103	6	-	86	124	26	-	240
Total real estate, net
365	457	453	18,009	17,876	0	17,930	17,860	17,884	17,717	17,446	17,135	17,066	17,032	16,871	16,498	16,310	15,942	15,790	15,581	15,384	14,935	14,724	14,509	14,452	14,284	14,284	14,116	14,014	8,015	7,878	7,606	7,537	7,425	7,315	7,187	7,003	6,955	6,924	6,841	6,870	6,833	6,856	6,821	6,649
Cash and Cash Equivalents, at Carrying Value
777	39	246	243	62	91	55	101	137	67	36	53	121	214	65	182	97	400	318	65	194	509	440	425	386	281	112	111	447	2,733	664	358	248	616	690	290	291	304	229	373	123	105	554	215	64
Cash in escrow
90	87	88	86	132	126	225	248	134	134	181	239	247	114	166	105	170	104	101	103	102	95	95	93	90	98	98	94	93	49	49	73	72	73	68	70	185	173	178	188	207	210	223	240	192
Resident security deposits
34	34	34	35	32	31	34	34	33	32	33	33	32	32	32	33	31	30	30	31	29	29	29	29	27	26	27	27	27	24	25	25	24	23	23	24	23	22	22	21	22	23	25	27	29
Investments in unconsolidated real estate entities
173	165	207	208	212	217	173	165	164	163	155	169	183	175	176	325	182	216	268	264	262	298	304	318	353	367	347	365	371	129	139	144	151	144	131	118	120	121	93	71	72	74	63	65	55
Deferred financing costs, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	37	40	38	-	39	40	42	40	39	35	36	38	33	29	31	33	35	31	31	33	32	33	32	34	36	34	31
Deferred development costs
74	70	74	60	55	47	45	41	39	45	48	45	40	40	46	40	42	37	32	28	23	67	36	34	34	31	33	37	33	24	28	27	31	24	72	79	85	77	81	87	85	87	80	74	57
Prepaid expenses and other assets
168	164	169	166	143	134	196	219	253	253	277	266	287	256	229	209	207	199	201	206	227	204	210	205	183	197	200	183	162	143	149	146	144	140	150	141	141	134	113	86	94	87	105	94	93
Right of use lease assets
162	124	121	122	124	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total assets
19,891	19,121	19,060	18,932	18,639	18,380	18,662	18,671	18,646	18,414	18,177	17,943	17,978	17,867	17,588	17,395	17,043	16,931	16,781	16,320	16,263	16,140	15,881	15,657	15,570	15,328	15,145	14,972	15,187	11,160	8,968	8,412	8,241	8,482	8,488	7,942	7,881	7,821	7,674	7,704	7,508	7,457	7,946	7,574	7,174
LIABILITIES AND EQUITY
Unsecured notes, net
6,404	6,358	6,356	6,355	5,907	5,905	6,153	6,152	6,150	5,852	5,407	5,405	4,464	4,463	4,070	4,319	3,846	3,845	3,568	3,567	3,043	2,975	2,695	2,695	2,844	2,594	2,245	1,846	1,845	1,945	1,899	1,450	1,449	1,629	1,629	1,819	1,819	1,820	1,660	1,659	1,659	1,658	2,080	1,795	2,002
Variable rate unsecured credit facility
750	0	0	0	0	0	56	0	0	0	242	105	0	0	170	0	0	0	0	0	0	0	0	0	-	0	-	142	0	-	0	0	0	-	0	0	0	0	-	-	-	0	0	0	124
Mortgage notes payable, net
937	937	1,004	997	1,132	1,134	1,323	1,419	1,448	1,476	1,478	1,480	2,541	2,567	2,575	2,514	2,655	2,611	2,738	2,919	3,518	3,514	3,546	3,559	3,536	3,539	3,852	3,865	4,082	1,905	1,908	1,912	1,930	1,969	2,155	2,166	2,217	2,152	2,287	2,288	2,290	2,316	2,352	2,354	1,527
Dividends Payable
225	215	213	213	212	204	203	203	203	196	196	196	195	185	185	185	185	171	171	166	165	153	153	152	150	138	138	138	138	110	94	93	92	84	84	79	77	76	76	75	73	72	72	71	208
Payables for construction
92	92	93	104	102	96	92	92	83	85	84	94	96	100	100	100	99	98	103	109	94	101	98	96	94	94	84	84	53	52	51	43	43	36	36	33	32	34	37	43	48	49	49	55	64
Accrued expenses and other liabilities
257	274	304	258	279	297	300	285	299	308	310	275	293	274	335	306	304	260	271	242	249	244	250	227	241	240	254	224	316	216	225	252	233	245	235	282	245	130	241	228	235	232	239	226	218
Lease liabilities
185	140	136	138	140	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued interest payable
61	47	70	48	65	46	66	51	60	43	56	34	54	38	44	42	38	40	35	40	32	41	28	40	33	42	23	39	24	33	21	30	21	34	23	37	25	31	22	30	22	35	27	34	32
Resident security deposits
61	61	61	63	60	58	61	61	58	58	58	59	57	57	57	58	55	53	54	53	50	48	49	48	46	44	47	48	46	37	39	39	37	35	37	37	35	33	33	33	33	33	36	39	38
Liabilities related to real estate assets held for sale
0	0	0	0	1	0	1	0	1	0	0	0	0	0	3	1	0	0	0	0	0	2	1	0	-	15	8	-	-	10	-	-	34	36	122	-	-	211	-	-	1	2	0	-	31
Total liabilities
8,976	8,127	8,242	8,178	7,902	7,744	8,258	8,266	8,305	8,020	7,835	7,652	7,703	7,688	7,542	7,528	7,186	7,080	6,942	7,099	7,155	7,081	6,823	6,820	6,947	6,711	6,653	6,388	6,507	4,312	4,240	3,822	3,843	4,073	4,325	4,456	4,454	4,491	4,359	4,360	4,365	4,401	4,859	4,576	4,248
Commitments and contingencies
-	-	-	-	-	-	0	0	0	-	0	0	0	0	0	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Redeemable noncontrolling interests
2	3	3	3	3	3	6	6	5	6	8	8	8	7	9	9	10	9	10	10	10	12	12	16	16	17	18	19	20	7	7	7	7	7	6	6	6	14	10	9	6	5	4	6	10
Equity:
Preferred stock, $0.01 par value; $25 liquidation preference; 50,000,000 shares authorized at March 31, 2020 and December 31, 2019; zero shares issued and outstanding at March 31, 2020 and December 31, 2019
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	0	-	-	-
Common stock, $0.01 par value; 280,000,000 shares authorized at March 31, 2020 and December 31, 2019; 140,733,340 and 140,643,962 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively
1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Additional paid-in capital
10,732	10,736	10,528	10,519	10,457	10,306	10,249	10,240	10,229	10,235	10,228	10,221	10,160	10,105	10,099	10,092	10,069	10,068	10,048	9,466	9,360	9,354	9,344	9,213	9,002	8,988	8,976	8,972	8,967	7,086	4,980	4,827	4,666	4,652	4,638	3,863	3,749	3,593	3,532	3,515	3,287	3,200	3,191	3,087	2,940
Accumulated earnings less dividends
225	282	329	262	306	350	167	179	128	188	144	102	133	94	36	-134	-146	-197	-182	-217	-223	-267	-256	-347	-353	-345	-458	-308	-206	-142	-153	-145	-208	-171	-409	-368	-332	-282	-232	-179	-152	-149	-108	-95	-22
Accumulated other comprehensive loss
-47	-31	-45	-33	-31	-26	-21	-22	-24	-37	-40	-42	-28	-30	-100	-102	-77	-31	-38	-39	-40	-42	-44	-45	-47	-48	-50	-105	-106	-108	-110	-103	-76	-87	-80	-20	-1	-1	-1	-1	-0	-1	-1	-2	-2
Stockholders' Equity Attributable to Parent
10,911	10,989	10,814	10,750	-	10,632	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,045	8,821	8,603	8,596	8,469	8,560	8,655	6,837	4,717	4,578	4,383	4,394	4,148	3,475	3,416	3,310	3,303	3,334	3,135	3,050	3,082	2,990	2,916
Stockholders' Equity Attributable to Noncontrolling Interest
0	0	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	3	3	3	3	3	3	3	3	7	7	7	4	4	4	4	-	-	0	-	-	-
Total equity
10,912	10,990	10,815	10,750	10,733	10,632	10,397	10,398	10,335	10,388	10,333	10,282	10,266	10,171	10,036	9,856	9,846	9,840	9,829	9,210	9,097	9,046	9,045	8,821	8,607	8,599	8,473	8,563	8,658	6,840	4,720	4,582	4,390	4,401	4,156	3,479	3,420	3,315	-	-	-	3,050	-	-	-
Total liabilities and equity
19,891	19,121	19,060	18,932	18,639	18,380	18,662	18,671	18,646	18,414	18,177	17,943	17,978	17,867	17,588	17,395	17,043	16,931	16,781	16,320	16,263	16,140	15,881	15,657	15,570	15,328	15,145	14,972	15,187	11,160	8,968	8,412	8,241	8,482	8,488	7,942	7,881	7,821	7,674	7,704	7,508	7,457	7,946	7,574	7,174