XML 37 R23.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Organization, Basis of Presentation, and Significant Accounting Policies (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2018
Accounting Policies [Abstract] |
Schedule of reconciliation of income from book basis to tax basis | The following reconciles net income attributable to common stockholders to taxable net income for the years ended December 31, 2018, 2017 and 2016 (unaudited, dollars in thousands):
| 2018 Estimate |  | 2017 Actual |  | 2016 Actual
Net income attributable to common stockholders | $ | 974,525 |  |  | $ | 876,921 |  |  | $ | 1,034,002 |
GAAP gain on sale of communities in excess of tax gain | (194,596 | ) |  | (86,661 | ) |  | (195,029 | )
Depreciation/amortization timing differences on real estate | 5,431 |  |  | (3,642 | ) |  | (947 | )
Amortization of debt/mark to market interest | 2,276 |  |  | (18,096 | ) |  | (18,985 | )
Tax compensation expense (in excess of) less than GAAP | (612 | ) |  | 3,912 |  |  | 9,821 |
Casualty and impairment loss (gain), net | 19,153 |  |  | 20,243 |  |  | (657 | )
Other adjustments | (4,905 | ) |  | (4,304 | ) |  | 11,533 |
Taxable net income | $ | 801,272 |  |  | $ | 788,373 |  |  | $ | 839,738 |
Schedule of new accounting pronouncements and changes in accounting principles | The following table provides details of the Company’s revenue streams disaggregated by the Company’s reportable operating segments, further discussed in Note 8, “Segment Reporting,” for the years ended December 31, 2018, 2017 and 2016. The segments are classified based on the individual community's status at January 1, 2018 for the years ended December 31, 2018 and 2017, and at January 1, 2017 for the year ended December 31, 2016. Segment information for total revenue has been adjusted to exclude the real estate assets that were sold from January 1, 2016 through December 31, 2018, or otherwise qualify as held for sale as of December 31, 2018, as described in Note 6, "Real Estate Disposition Activities," (dollars in thousands):
|  | Established Communities |  | Other Stabilized Communities |  | Development/ Redevelopment Communities |  | Non- allocated (1) |  | Total
For the year ended December 31, 2018 |  |  |  |  |  |  |  |  |  |
Management, development and other fees |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 3,572 |  |  | $ | 3,572 |
Rental and non-rental related income (2) |  | 9,563 |  |  | 2,417 |  |  | 1,913 |  |  | — |  |  | 13,893 |
Total non-lease revenue (3) |  | 9,563 |  |  | 2,417 |  |  | 1,913 |  |  | 3,572 |  |  | 17,465 |
Lease income (4) |  | 1,622,837 |  |  | 259,636 |  |  | 295,706 |  |  | — |  |  | 2,178,179 |
Business interruption insurance proceeds |  | 26 |  |  | — |  |  | — |  |  | — |  |  | 26 |
Total revenue |  | $ | 1,632,426 |  |  | $ | 262,053 |  |  | $ | 297,619 |  |  | $ | 3,572 |  |  | $ | 2,195,670 |
For the year ended December 31, 2017 |  |  |  |  |  |  |  |  |  |
Management, development and other fees |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 4,147 |  |  | $ | 4,147 |
Rental and non-rental related income (2) |  | 9,453 |  |  | 2,083 |  |  | 1,478 |  |  | — |  |  | 13,014 |
Total non-lease revenue (3) |  | 9,453 |  |  | 2,083 |  |  | 1,478 |  |  | 4,147 |  |  | 17,161 |
Lease income (4) |  | 1,582,209 |  |  | 191,511 |  |  | 230,293 |  |  | — |  |  | 2,004,013 |
Business interruption insurance proceeds (5) |  | 3 |  |  | — |  |  | 3,495 |  |  | — |  |  | 3,498 |
Total revenue |  | $ | 1,591,665 |  |  | $ | 193,594 |  |  | $ | 235,266 |  |  | $ | 4,147 |  |  | $ | 2,024,672 |
For the year ended December 31, 2016 |  |  |  |  |  |  |  |  |  |
Management, development and other fees |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 5,599 |  |  | $ | 5,599 |
Rental and non-rental related income (2) |  | 8,299 |  |  | 2,172 |  |  | 1,394 |  |  | — |  |  | 11,865 |
Total non-lease revenue (3) |  | 8,299 |  |  | 2,172 |  |  | 1,394 |  |  | 5,599 |  |  | 17,464 |
Lease income (4) |  | 1,423,658 |  |  | 219,035 |  |  | 185,343 |  |  | — |  |  | 1,828,036 |
Business interruption insurance proceeds (6) |  | 152 |  |  | 65 |  |  | 20,312 |  |  | — |  |  | 20,529 |
Total revenue |  | $ | 1,432,109 |  |  | $ | 221,272 |  |  | $ | 207,049 |  |  | $ | 5,599 |  |  | $ | 1,866,029 |
__________________________________
(1) | Revenue represents third-party management, asset management and developer fees and miscellaneous income which are not allocated to a reportable segment.
(2) | Amounts include revenue streams related to leasing activities that are not considered components of a lease, including but not limited to, apartment hold fees and application fees, as well as revenue streams not related to leasing activities, including but not limited to, vendor revenue sharing, building advertising, vending and dry cleaning revenue.
(3) | Represents all revenue accounted for under ASC 2014-09.
(4) | Amounts include all revenue streams derived from residential and retail rental income and other lease income, which are excluded from ASC 2014-09 and accounted for under the lease accounting framework.
(5) | Amount for 2017 is primarily business interruption insurance proceeds related to the Maplewood casualty loss as discussed below in "Casualty Gains and Losses."
(6) | Amount for 2016 is primarily business interruption insurance proceeds related to the Edgewater casualty loss as discussed below in "Casualty Gains and Losses."
Schedule of tax components of the entity's common dividends declared | The following summarizes the tax components of the Company's common dividends declared for the years ended December 31, 2018, 2017 and 2016 (unaudited):
| 2018 |  | 2017 |  | 2016
Ordinary income | 76 | % |  | 75 | % |  | 68 | %
20% capital gain | 11 | % |  | 18 | % |  | 26 | %
Unrecaptured §1250 gain | 13 | % |  | 7 | % |  | 6 | %
Schedule of earnings per common share | The Company's earnings per common share are determined as follows (dollars in thousands, except per share data):
| For the year ended
| 12/31/18 |  | 12/31/17 |  | 12/31/16
Basic and diluted shares outstanding |  |  |  |  |  |  |  |
Weighted average common shares—basic | 137,844,755 |  |  | 137,523,771 |  |  | 136,928,251 |
Weighted average DownREIT units outstanding | 7,500 |  |  | 7,500 |  |  | 7,500 |
Effect of dilutive securities | 436,986 |  |  | 535,415 |  |  | 525,886 |
Weighted average common shares—diluted | 138,289,241 |  |  | 138,066,686 |  |  | 137,461,637 |
Calculation of Earnings per Share—basic |  |  |  |  |  |  |  |
Net income attributable to common stockholders | $ | 974,525 |  |  | $ | 876,921 |  |  | $ | 1,034,002 |
Net income allocated to unvested restricted shares | (2,839 | ) |  | (2,463 | ) |  | (2,610 | )
Net income attributable to common stockholders, adjusted | $ | 971,686 |  |  | $ | 874,458 |  |  | $ | 1,031,392 |
Weighted average common shares—basic | 137,844,755 |  |  | 137,523,771 |  |  | 136,928,251 |
Earnings per common share—basic | $ | 7.05 |  |  | $ | 6.36 |  |  | $ | 7.53 |
Calculation of Earnings per Share—diluted |  |  |  |  |  |  |  |
Net income attributable to common stockholders | $ | 974,525 |  |  | $ | 876,921 |  |  | $ | 1,034,002 |
Add: noncontrolling interests of DownREIT unitholders in consolidated partnerships, including discontinued operations | 44 |  |  | 42 |  |  | 41 |
Adjusted net income attributable to common stockholders | $ | 974,569 |  |  | $ | 876,963 |  |  | $ | 1,034,043 |
Weighted average common shares—diluted | 138,289,241 |  |  | 138,066,686 |  |  | 137,461,637 |
Earnings per common share—diluted | $ | 7.05 |  |  | $ | 6.35 |  |  | $ | 7.52 |
Dividends per common share | $ | 5.88 |  |  | $ | 5.68 |  |  | $ | 5.40 |

X
- Definition Tabular disclosure of reconciliation of book net income to taxable income. + References No definition available. + Details
Name: | avb_ScheduleOfReconciliationOfIncomeFromBookBasisToTaxBasisTableTextBlock
Namespace Prefix: | avb_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=109236672&loc=d3e765-108305 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.10-01.(b)(6)) -URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22580-107794 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=109236672&loc=d3e725-108305 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794 + Details
Name: | us-gaap_ScheduleOfNewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration