Avalonbay communities, inc. (AVB)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09Dec'08Dec'07
Revenue:
Operating Lease, Lease Income

2,319,666

2,280,963

2,154,481

2,039,656

1,846,081

1,674,011

1,451,419

990,370

890,431

835,466

822,596

807,196

721,644

Management, development and other fees

4,960

3,572

4,147

5,599

9,947

11,050

11,502

10,257

9,656

7,354

7,328

6,568

6,142

Total revenue

2,324,626

2,284,535

2,158,628

2,045,255

1,856,028

1,685,061

1,462,921

1,000,627

900,087

842,820

829,924

813,764

727,786

Expenses:
Operating expenses, excluding property taxes

515,145

524,993

500,924

478,437

448,747

410,672

352,245

259,350

246,872

246,257

246,251

248,396

222,332

Property taxes

252,961

241,563

221,375

204,837

193,499

178,634

158,774

97,555

88,964

87,864

81,493

73,839

67,240

Interest expense, net

203,585

220,974

199,661

187,510

175,615

180,618

172,402

136,920

167,814

169,997

145,462

-114,910

92,175

Loss on extinguishment of debt, net

-602

-17,492

-25,472

-7,075

26,736

-412

-14,921

-1,179

-1,940

-

-25,910

-1,839

0

Loss on interest rate contract

-

-

-

-

-

-

-51,000

0

-

-

-

-

-

Depreciation expense

661,578

631,196

584,150

531,434

477,923

442,682

560,215

243,680

226,728

220,563

204,481

-183,266

157,895

General and administrative expense

58,042

60,369

53,695

45,771

42,774

41,425

39,573

34,101

29,371

26,846

28,748

-42,781

28,494

Expensed transaction, development and other pursuit costs, net of recoveries

4,991

3,265

2,736

9,922

6,822

-3,717

45,050

11,350

2,967

-

-

-

-

Casualty and impairment loss, net

0

215

6,250

-3,935

-10,542

0

0

1,449

14,052

-

21,152

-57,899

0

Total expenses

1,696,904

1,700,067

1,594,263

1,461,051

1,308,102

1,250,726

1,394,180

785,584

778,708

751,527

753,497

719,252

568,136

Income before equity in income of unconsolidated real estate entities, gain (loss) on sale of communities and other real estate, and income taxes

-

-

-

-

547,926

434,335

-

-

-

-

-

-

-

Equity in income (loss) of unconsolidated real estate entities

8,652

15,270

70,744

64,962

70,018

148,766

-11,154

20,914

5,120

762

1,441

-4,566

59,169

Gain on sale of communities

166,105

374,976

252,599

374,623

115,625

84,925

0

0

-

-

63,887

-

-

Gain on other real estate transactions, net

439

345

-10,907

10,224

9,647

490

240

280

-

-

-

-

-

Other Selling, General and Administrative Expense

3,812

1,044

0

-

-

-

-

-

-

-

-

-

-

Gain on sale of land

-

-

-

-

-

-

-

-

13,716

-

4,830

0

545

Gain on acquisition of unconsolidated entity

-

-

-

-

-

-

-

14,194

-

-

-

-

-

Income before income taxes

799,106

974,015

876,801

1,034,013

743,216

668,516

57,827

250,431

-

-

-

-

-

Income Tax Expense (Benefit)

13,003

-160

141

305

1,483

9,368

0

0

-

-

-

-

-

Income from continuing operations

-

-

-

-

-

659,148

57,827

250,431

140,215

92,055

82,698

99,078

219,364

Discontinued operations:
Income from discontinued operations

-

-

-

-

-

310

16,713

26,820

20,065

7,950

7,689

-

-

Gain on sale of discontinued operations

-

-

-

-

-

37,869

278,231

146,311

281,090

74,074

-

26,767

33,894

Gain on sale of real estate assets

-

-

-

-

-

-

-

-

-

-

-

284,901

106,487

Total discontinued operations

-

-

-

-

-

38,179

294,944

173,131

301,155

82,024

71,576

311,668

140,381

Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

786,103

974,175

876,660

1,033,708

741,733

697,327

352,771

423,562

441,370

174,079

154,274

410,746

359,745

Net income attributable to noncontrolling interests

129

-350

-261

-294

-305

13,760

-370

-307

-252

-1,252

-1,373

741

1,585

Net income attributable to the Company

-

-

-

-

-

-

-

-

-

-

-

411,487

358,160

Dividends attributable to preferred stock

-

-

-

-

-

-

-

-

-

-

-

-10,454

8,700

Net Income (Loss) Available to Common Stockholders, Basic

785,974

974,525

876,921

1,034,002

742,038

683,567

353,141

423,869

441,622

175,331

155,647

401,033

349,460

Other comprehensive income (loss):
Loss on cash flow hedges

-11,930

5,132

-13,979

-5,556

5,354

-121

0

-22,876

-85,845

-108

1,865

434

213

Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax

-6,571

-6,143

-7,070

-6,433

-5,774

-6,237

-59,376

-1,889

-

-

-

-

-

Comprehensive income

780,615

985,800

870,012

1,034,879

753,166

689,683

412,517

402,882

355,777

175,223

157,512

401,467

349,673

Earnings Per Share, Basic [Abstract]
Income from continuing operations attributable to common stockholders

-

-

-

-

-

4.93

0.46

2.57

1.55

1.10

1.05

1.16

2.65

Discontinued operations attributable to common stockholders

-

-

-

-

-

0.29

2.32

1.77

3.34

0.98

0.89

4.05

1.78

Earnings Per Share, Basic

5.64

7.05

6.36

7.53

5.54

5.22

2.78

4.34

4.89

2.08

1.94

5.21

4.43

Earnings Per Share, Diluted [Abstract]
Income (loss) from continuing operations attributable to common stockholders (in dollars per share)

-

-

-

-

-

4.92

0.46

2.55

1.55

1.10

1.04

1.15

2.62

Discontinued operations attributable to common stockholders (in dollars per share)

-

-

-

-

-

0.29

2.32

1.77

3.32

0.97

0.89

4.02

1.76

Earnings Per Share, Diluted

5.63

7.05

6.35

7.52

5.51

5.21

2.78

4.32

4.87

2.07

1.93

5.17

4.38

Dividends per common share (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

3.40