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REPORTABLE SEGMENTS (Tables) | 6 Months Ended
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Jun. 30, 2021
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, 2021 and 2020, 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)
​ |  | 2021 |  | 2020 |  | 2021 |  | 2020
Reportable apartment home segment lease revenue | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Same-Store Communities (a) | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
West Region | ​ | $ | 103,059 | ​ | $ | 107,901 | ​ | $ | 201,810 | ​ | $ | 217,747
Mid-Atlantic Region | ​ |  | 61,390 | ​ |  | 61,232 | ​ |  | 121,307 | ​ |  | 123,769
Northeast Region | ​ |  | 51,864 | ​ |  | 53,143 | ​ |  | 103,916 | ​ |  | 110,639
Southeast Region | ​ |  | 37,255 | ​ |  | 35,368 | ​ |  | 70,142 | ​ |  | 67,561
Southwest Region | ​ |  | 23,765 | ​ |  | 23,379 | ​ |  | 46,976 | ​ |  | 47,194
Non-Mature Communities/Other | ​ |  | 22,477 | ​ |  | 16,559 | ​ |  | 47,105 | ​ |  | 42,293
Total segment and consolidated lease revenue | ​ | $ | 299,810 | ​ | $ | 297,582 | ​ | $ | 591,256 | ​ | $ | 609,203
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reportable apartment home segment other revenue | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Same-Store Communities (a) | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
West Region | ​ | $ | 2,653 | ​ | $ | 2,978 | ​ | $ | 5,329 | ​ | $ | 5,879
Mid-Atlantic Region | ​ |  | 1,972 | ​ |  | 1,540 | ​ |  | 3,674 | ​ |  | 3,240
Northeast Region | ​ |  | 1,048 | ​ |  | 1,371 | ​ |  | 2,093 | ​ |  | 2,434
Southeast Region | ​ |  | 1,889 | ​ |  | 1,328 | ​ |  | 3,292 | ​ |  | 2,779
Southwest Region | ​ |  | 1,053 | ​ |  | 741 | ​ |  | 1,930 | ​ |  | 1,563
Non-Mature Communities/Other | ​ |  | 691 | ​ |  | 442 | ​ |  | 1,368 | ​ |  | 977
Total segment and consolidated other revenue | ​ | $ | 9,306 | ​ | $ | 8,400 | ​ | $ | 17,686 | ​ | $ | 16,872
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total reportable apartment home segment rental income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Same-Store Communities (a) | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
West Region | ​ | $ | 105,712 | ​ | $ | 110,879 | ​ | $ | 207,139 | ​ | $ | 223,626
Mid-Atlantic Region | ​ |  | 63,362 | ​ |  | 62,772 | ​ |  | 124,981 | ​ |  | 127,009
Northeast Region | ​ |  | 52,912 | ​ |  | 54,514 | ​ |  | 106,009 | ​ |  | 113,073
Southeast Region | ​ |  | 39,144 | ​ |  | 36,696 | ​ |  | 73,434 | ​ |  | 70,340
Southwest Region | ​ |  | 24,818 | ​ |  | 24,120 | ​ |  | 48,906 | ​ |  | 48,757
Non-Mature Communities/Other | ​ |  | 23,168 | ​ |  | 17,001 | ​ |  | 48,473 | ​ |  | 43,270
Total segment and consolidated rental income | ​ | $ | 309,116 | ​ | $ | 305,982 | ​ | $ | 608,942 | ​ | $ | 626,075
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reportable apartment home segment NOI | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Same-Store Communities (a) | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
West Region | ​ | $ | 77,120 | ​ | $ | 83,112 | ​ | $ | 150,931 | ​ | $ | 168,229
Mid-Atlantic Region | ​ |  | 43,733 | ​ |  | 43,929 | ​ |  | 86,135 | ​ |  | 89,245
Northeast Region | ​ |  | 34,227 | ​ |  | 37,186 | ​ |  | 67,570 | ​ |  | 77,509
Southeast Region | ​ |  | 26,297 | ​ |  | 24,265 | ​ |  | 49,625 | ​ |  | 47,986
Southwest Region | ​ |  | 15,312 | ​ |  | 14,537 | ​ |  | 30,147 | ​ |  | 29,915
Non-Mature Communities/Other | ​ |  | 11,947 | ​ |  | 9,224 | ​ |  | 25,286 | ​ |  | 24,834
Total segment and consolidated NOI | ​ |  | 208,636 | ​ |  | 212,253 | ​ |  | 409,694 | ​ |  | 437,718
Reconciling items: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Joint venture management and other fees | ​ |  | 2,232 | ​ |  | 1,274 | ​ |  | 3,847 | ​ |  | 2,662
Property management | ​ |  | (9,273) | ​ |  | (8,797) | ​ |  | (18,268) | ​ |  | (18,000)
Other operating expenses | ​ |  | (4,373) | ​ |  | (6,100) | ​ |  | (8,808) | ​ |  | (11,066)
Real estate depreciation and amortization | ​ |  | (146,169) | ​ |  | (155,056) | ​ |  | (290,257) | ​ |  | (310,532)
General and administrative | ​ |  | (15,127) | ​ |  | (10,971) | ​ |  | (27,863) | ​ |  | (25,949)
Casualty-related (charges)/recoveries, net | ​ |  | 2,463 | ​ |  | (102) | ​ |  | (3,114) | ​ |  | (1,353)
Other depreciation and amortization | ​ |  | (2,602) | ​ |  | (2,027) | ​ |  | (5,203) | ​ |  | (4,052)
Gain/(loss) on sale of real estate owned | ​ | ​ | — | ​ | ​ | 61,303 | ​ | ​ | 50,829 | ​ | ​ | 61,303
Income/(loss) from unconsolidated entities | ​ |  | 9,751 | ​ |  | 8,021 | ​ |  | 14,673 | ​ |  | 11,388
Interest expense | ​ |  | (35,404) | ​ |  | (38,597) | ​ |  | (113,560) | ​ |  | (77,914)
Interest income and other income/(expense), net | ​ |  | 2,536 | ​ |  | 2,421 | ​ |  | 4,593 | ​ |  | 5,121
Tax (provision)/benefit, net | ​ |  | (135) | ​ |  | (1,526) | ​ |  | (754) | ​ |  | (1,690)
Net (income)/loss attributable to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership | ​ |  | (807) | ​ |  | (4,291) | ​ |  | (961) | ​ |  | (4,604)
Net (income)/loss attributable to noncontrolling interests | ​ |  | (8) | ​ |  | (34) | ​ |  | (24) | ​ |  | (40)
Net income/(loss) attributable to UDR, Inc. | ​ | $ | 11,720 | ​ | $ | 57,771 | ​ | $ | 14,824 | ​ | $ | 62,992
(a) | Same-Store Community population consisted of 45,974 apartment homes.
(b) | Same-Store Community population consisted of 45,404 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, 2021 and December 31, 2020 (dollars in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30, |  | December 31,
​ | ​ | 2021 | ​ | 2020
Reportable apartment home segment assets: |  | ​ |  |  | ​ |
Same-Store Communities (a): |  | ​ |  |  | ​ |
West Region | ​ | $ | 4,334,493 | ​ | $ | 4,316,098
Mid-Atlantic Region | ​ |  | 2,710,788 | ​ |  | 2,698,049
Northeast Region | ​ |  | 2,911,914 | ​ |  | 2,900,017
Southeast Region | ​ |  | 1,069,988 | ​ |  | 1,059,771
Southwest Region | ​ |  | 896,420 | ​ |  | 897,505
Non-Mature Communities/Other | ​ |  | 1,688,921 | ​ |  | 1,200,032
Total segment assets | ​ |  | 13,612,524 | ​ |  | 13,071,472
Accumulated depreciation | ​ |  | (4,871,506) | ​ |  | (4,605,366)
Total segment assets — net book value | ​ |  | 8,741,018 | ​ |  | 8,466,106
Reconciling items: | ​ |  |  | ​ |  |
Cash and cash equivalents | ​ |  | 3,370 | ​ |  | 1,409
Restricted cash | ​ |  | 32,700 | ​ |  | 22,762
Notes receivable, net | ​ |  | 139,047 | ​ |  | 157,992
Investment in and advances to unconsolidated joint ventures, net | ​ |  | 619,172 | ​ |  | 600,233
Operating lease right-of-use assets | ​ | ​ | 199,206 | ​ | ​ | 200,913
Other assets | ​ |  | 184,758 | ​ |  | 188,118
Total consolidated assets | ​ | $ | 9,919,271 | ​ | $ | 9,637,533
(a) | Same-Store Community population consisted of 45,974 apartment homes.
​

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