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REPORTABLE SEGMENTS (Tables) | 6 Months Ended
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Jun. 30, 2020
REPORTABLE SEGMENTS |
Summary of rental income and NOI for UDRs reportable segments and reconciliation of NOI to Net income/(loss) | The following table details rental income and NOI for UDR’s reportable segments for the three and six months ended June 30, 2020 and 2019, and reconciles NOI to Net income/(loss) attributable to UDR, Inc. on the Consolidated Statements of Operations (dollars in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended
​ | ​ | June 30, (a) | ​ | June 30, (b)
​ |  | 2020 |  | 2019 |  | 2020 |  | 2019
Reportable apartment home segment lease revenue | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Same-Store Communities (a) | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
West Region | ​ | $ | 101,551 | ​ | $ | 104,196 | ​ | $ | 200,750 | ​ | $ | 199,495
Mid-Atlantic Region | ​ |  | 54,803 | ​ |  | 54,905 | ​ |  | 110,889 | ​ |  | 109,205
Northeast Region | ​ |  | 29,717 | ​ |  | 32,225 | ​ |  | 58,774 | ​ |  | 60,490
Southeast Region | ​ |  | 32,715 | ​ |  | 31,844 | ​ |  | 61,433 | ​ |  | 59,565
Southwest Region | ​ |  | 16,391 | ​ |  | 16,294 | ​ |  | 33,017 | ​ |  | 32,370
Non-Mature Communities/Other | ​ |  | 62,404 | ​ |  | 30,523 | ​ |  | 144,340 | ​ |  | 67,763
Total segment and consolidated lease revenue | ​ | $ | 297,581 | ​ | $ | 269,987 | ​ | $ | 609,203 | ​ | $ | 528,888
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reportable apartment home segment other revenue | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Same-Store Communities (a) | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
West Region | ​ | $ | 2,842 | ​ | $ | 3,047 | ​ | $ | 5,543 | ​ | $ | 6,045
Mid-Atlantic Region | ​ |  | 1,429 | ​ |  | 1,727 | ​ |  | 3,001 | ​ |  | 3,729
Northeast Region | ​ |  | 761 | ​ |  | 789 | ​ |  | 1,235 | ​ |  | 1,396
Southeast Region | ​ |  | 1,226 | ​ |  | 1,719 | ​ |  | 2,593 | ​ |  | 3,431
Southwest Region | ​ |  | 515 | ​ |  | 678 | ​ |  | 1,105 | ​ |  | 1,443
Non-Mature Communities/Other | ​ |  | 1,628 | ​ |  | 516 | ​ |  | 3,395 | ​ |  | 1,453
Total segment and consolidated other revenue | ​ | $ | 8,401 | ​ | $ | 8,476 | ​ | $ | 16,872 | ​ | $ | 17,497
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total reportable apartment home segment rental income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Same-Store Communities (a) | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
West Region | ​ | $ | 104,393 | ​ | $ | 107,243 | ​ | $ | 206,293 | ​ | $ | 205,540
Mid-Atlantic Region | ​ |  | 56,232 | ​ |  | 56,632 | ​ |  | 113,890 | ​ |  | 112,934
Northeast Region | ​ |  | 30,478 | ​ |  | 33,014 | ​ |  | 60,009 | ​ |  | 61,886
Southeast Region | ​ |  | 33,941 | ​ |  | 33,563 | ​ |  | 64,026 | ​ |  | 62,996
Southwest Region | ​ |  | 16,906 | ​ |  | 16,972 | ​ |  | 34,122 | ​ |  | 33,813
Non-Mature Communities/Other | ​ |  | 64,032 | ​ |  | 31,039 | ​ |  | 147,735 | ​ |  | 69,216
Total segment and consolidated rental income | ​ | $ | 305,982 | ​ | $ | 278,463 | ​ | $ | 626,075 | ​ | $ | 546,385
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reportable apartment home segment NOI | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Same-Store Communities (a) | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
West Region | ​ | $ | 78,533 | ​ | $ | 81,724 | ​ | $ | 155,876 | ​ | $ | 156,324
Mid-Atlantic Region | ​ |  | 39,102 | ​ |  | 40,045 | ​ |  | 79,479 | ​ |  | 79,225
Northeast Region | ​ |  | 19,629 | ​ |  | 22,943 | ​ |  | 38,734 | ​ |  | 42,453
Southeast Region | ​ |  | 22,801 | ​ |  | 23,322 | ​ |  | 44,257 | ​ |  | 44,169
Southwest Region | ​ |  | 10,467 | ​ |  | 10,444 | ​ |  | 21,523 | ​ |  | 20,772
Non-Mature Communities/Other | ​ |  | 41,721 | ​ |  | 21,257 | ​ |  | 97,849 | ​ |  | 46,475
Total segment and consolidated NOI | ​ |  | 212,253 | ​ |  | 199,735 | ​ |  | 437,718 | ​ |  | 389,418
Reconciling items: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Joint venture management and other fees | ​ |  | 1,274 | ​ |  | 2,845 | ​ |  | 2,662 | ​ |  | 5,596
Property management | ​ |  | (8,797) | ​ |  | (8,006) | ​ |  | (18,000) | ​ |  | (15,709)
Other operating expenses | ​ |  | (6,100) | ​ |  | (2,735) | ​ |  | (11,066) | ​ |  | (8,381)
Real estate depreciation and amortization | ​ |  | (155,056) | ​ |  | (117,934) | ​ |  | (310,532) | ​ |  | (230,402)
General and administrative | ​ |  | (10,971) | ​ |  | (12,338) | ​ |  | (25,949) | ​ |  | (24,805)
Casualty-related (charges)/recoveries, net | ​ |  | (102) | ​ |  | (246) | ​ |  | (1,353) | ​ |  | (246)
Other depreciation and amortization | ​ |  | (2,027) | ​ |  | (1,678) | ​ |  | (4,052) | ​ |  | (3,334)
Gain/(loss) on sale of real estate owned | ​ | ​ | 61,303 | ​ | ​ | 5,282 | ​ | ​ | 61,303 | ​ | ​ | 5,282
Income/(loss) from unconsolidated entities | ​ |  | 8,021 | ​ |  | 6,625 | ​ |  | 11,388 | ​ |  | 6,674
Interest expense | ​ |  | (38,597) | ​ |  | (34,417) | ​ |  | (77,914) | ​ |  | (67,959)
Interest income and other income/(expense), net | ​ |  | 2,421 | ​ |  | 1,310 | ​ |  | 5,121 | ​ |  | 11,123
Tax (provision)/benefit, net | ​ |  | (1,526) | ​ |  | (125) | ​ |  | (1,690) | ​ |  | (2,337)
Net (income)/loss attributable to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership | ​ |  | (4,291) | ​ |  | (2,652) | ​ |  | (4,604) | ​ |  | (4,709)
Net (income)/loss attributable to noncontrolling interests | ​ |  | (34) | ​ |  | (47) | ​ |  | (40) | ​ |  | (89)
Net income/(loss) attributable to UDR, Inc. | ​ | $ | 57,771 | ​ | $ | 35,619 | ​ | $ | 62,992 | ​ | $ | 60,122
(a) | Same-Store Community population consisted of 39,020 apartment homes.
(b) | Same-Store Community population consisted of 37,910 apartment homes.
​
Details of assets of UDR's reportable segments | The following table details the assets of UDR’s reportable segments as of June 30, 2020 and December 31, 2019 (dollars in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30, |  | December 31,
​ | ​ | 2020 | ​ | 2019
Reportable apartment home segment assets: |  | ​ |  |  | ​ |
Same-Store Communities (a): |  | ​ |  |  | ​ |
West Region | ​ | $ | 3,889,925 | ​ | $ | 3,874,027
Mid-Atlantic Region | ​ |  | 2,363,674 | ​ |  | 2,350,341
Northeast Region | ​ |  | 1,635,118 | ​ |  | 1,632,980
Southeast Region | ​ |  | 913,257 | ​ |  | 903,878
Southwest Region | ​ |  | 605,801 | ​ |  | 600,349
Non-Mature Communities/Other | ​ |  | 3,367,864 | ​ |  | 3,240,526
Total segment assets | ​ |  | 12,775,639 | ​ |  | 12,602,101
Accumulated depreciation | ​ |  | (4,372,524) | ​ |  | (4,131,353)
Total segment assets — net book value | ​ |  | 8,403,115 | ​ |  | 8,470,748
Reconciling items: | ​ |  |  | ​ |  |
Cash and cash equivalents | ​ |  | 833 | ​ |  | 8,106
Restricted cash | ​ |  | 22,043 | ​ |  | 25,185
Notes receivable, net | ​ |  | 155,956 | ​ |  | 153,650
Investment in and advances to unconsolidated joint ventures, net | ​ |  | 598,058 | ​ |  | 588,262
Operating lease right-of-use assets | ​ | ​ | 202,586 | ​ | ​ | 204,225
Other assets | ​ |  | 181,880 | ​ |  | 186,296
Total consolidated assets | ​ | $ | 9,564,471 | ​ | $ | 9,636,472
(a) | Same-Store Community population consisted of 39,020 apartment homes.
​

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