XML 34 R24.htm IDEA: XBRL DOCUMENT v3.21.2

Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Schedule of reconciliation of NOI to net income

A reconciliation of NOI to net income for the three and six months ended June 30, 2021 and 2020 is as follows (dollars in thousands):

			For the three months ended									For the six months ended
			6/30/2021						6/30/2020			6/30/2021						6/30/2020
Net income			$	447,977					$	170,869		$	590,211					$	338,875
Indirect operating expenses, net of corporate income			24,318						23,407			48,788						46,206
Expensed transaction, development and other pursuit costs, net of recoveries			1,653						388			1,483						3,722
Interest expense, net			56,104						53,399			108,717						109,313
Loss (gain) on extinguishment of debt, net			—						268			(122)						9,438
General and administrative expense			18,465						15,573			35,817						32,893
Income from investments in unconsolidated entities			(26,559)						(512)			(26,092)						(1,687)
Depreciation expense			184,472						176,249			367,769						354,160
Income tax expense (benefit)			10						(1,133)			(745)						(1,042)
Casualty and impairment loss			1,177						—			1,177						—
Gain on sale of communities			(334,569)						(35,295)			(388,296)						(59,731)
Gain on other real estate transactions, net			(32)						(156)			(459)						(199)
Net for-sale condominium activity			647						(1,348)			1,560						(4,808)
Net operating income from real estate assets sold or held for sale			(4,749)						(13,581)			(10,549)						(28,572)
Net operating income			$	368,914					$	388,128		$	729,259					$	798,568

Schedule of net operating income from real estate assets sold or held for sale, not classified as discontinued operations

The following is a summary of NOI from real estate assets sold or held for sale for the periods presented (dollars in thousands):

			For the three months ended												For the six months ended
			6/30/2021						6/30/2020						6/30/2021						6/30/2020
Rental income from real estate assets sold or held for sale			$	7,719					$	21,399					$	17,307					$	44,529
Operating expenses from real estate assets sold or held for sale			(2,970)						(7,818)						(6,758)						(15,957)
Net operating income from real estate assets sold or held for sale			$	4,749					$	13,581					$	10,549					$	28,572

Schedule of details of segment information

			For the three months ended												For the six months ended
			Total revenue						NOI						Total revenue						NOI						Gross real estate (1)
For the period ended June 30, 2021
Same Store
New England			$	74,259					$	47,895					$	147,577					$	94,163					$	2,772,638
Metro NY/NJ			105,355						70,944						210,304						142,584						4,114,155
Mid-Atlantic			82,232						54,823						163,460						110,083						3,485,698
Southeast Florida			7,706						4,557						14,948						8,746						395,009
Denver, CO			5,853						3,935						11,505						7,954						319,994
Pacific Northwest			26,935						18,298						53,548						36,192						1,054,701
Northern California			89,591						63,506						179,997						127,569						3,450,054
Southern California			108,710						73,364						215,801						145,899						4,373,247
Total Same Store			500,641						337,322						997,140						673,190						19,965,496
Other Stabilized			29,499						19,123						56,264						36,049						1,338,844
Development / Redevelopment			23,076						12,469						40,483						20,020						2,324,779
Land Held for Development			N/A						N/A						N/A						N/A						100,106
Non-allocated (2)			808						N/A						1,685						N/A						322,576
Total			$	554,024					$	368,914					$	1,095,572					$	729,259					$	24,051,801
For the period ended June 30, 2020
Same Store
New England			$	77,240					$	52,030					$	156,085					$	104,299					$	2,751,535
Metro NY/NJ			106,452						73,858						219,266						153,511						4,097,021
Mid-Atlantic			84,634						59,217						172,954						122,975						3,462,890
Southeast Florida			7,364						4,298						14,868						8,423						393,329
Denver, CO			5,166						3,326						10,335						6,666						318,833
Pacific Northwest			28,105						19,932						57,263						41,065						1,049,913
Northern California			103,867						79,384						210,744						161,263						3,427,805
Southern California			109,869						76,433						227,468						160,671						4,345,382
Total Same Store			522,697						368,478						1,068,983						758,873						19,846,708
Other Stabilized			24,642						16,055						49,673						32,552						1,209,541
Development / Redevelopment			7,368						3,595						14,181						7,143						1,614,237
Land Held for Development			N/A						N/A						N/A						N/A						39,829
Non-allocated (2)			299						N/A						690						N/A						407,361
Total			$	555,006					$	388,128					$	1,133,527					$	798,568					$	23,117,676

__________________________________

(1)Does not include gross real estate assets held for sale or classified as held for sale subsequent to June 30, 2020 of $672,125.

(2)Revenue represents third-party management, accounting, and developer fees and miscellaneous income and other ancillary items which are not allocated to a reportable segment. Gross real estate includes the for-sale residential condominiums at The Park Loggia, as discussed in Note 6, "Real Estate Disposition Activities."

X

- Definition

Schedule of Net Operating Income from Real Estate Assets Sold or Held for Sale, Not Classified as Discontinued Operations [Table Text Block]

+ References

No definition available.

+ Details

Name:	avb_ScheduleofNetOperatingIncomefromRealEstateAssetsSoldorHeldforSaleNotClassifiedasDiscontinuedOperationsTableTextBlock
Namespace Prefix:	avb_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

+ Details

Name:	us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration