XML 48 R36.htm IDEA: XBRL DOCUMENT
v3.22.2.2

REPORTABLE SEGMENTS (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2022
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 nine months ended September 30, 2022 and 2021, and reconciles NOI to Net income/(loss) attributable to UDR, Inc. on the Consolidated Statements of Operations (dollars in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Nine Months Ended
​ | ​ | September 30, (a) | ​ | September 30, (b)
​ |  | 2022 |  | 2021 |  | 2022 |  | 2021
Reportable apartment home segment lease revenue | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Same-Store Communities (a) | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
West Region | ​ | $ | 118,843 | ​ | $ | 109,307 | ​ | $ | 340,731 | ​ | $ | 307,138
Mid-Atlantic Region | ​ |  | 71,462 | ​ |  | 66,115 | ​ |  | 201,475 | ​ |  | 188,897
Northeast Region | ​ |  | 69,577 | ​ |  | 59,902 | ​ |  | 197,058 | ​ |  | 174,795
Southeast Region | ​ |  | 48,608 | ​ |  | 41,093 | ​ |  | 139,112 | ​ |  | 119,731
Southwest Region | ​ |  | 36,801 | ​ |  | 32,261 | ​ |  | 80,568 | ​ |  | 71,710
Non-Mature Communities/Other | ​ |  | 31,555 | ​ |  | 9,947 | ​ |  | 119,416 | ​ |  | 47,612
Total segment and consolidated lease revenue | ​ | $ | 376,846 | ​ | $ | 318,625 | ​ | $ | 1,078,360 | ​ | $ | 909,883
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reportable apartment home segment other revenue | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Same-Store Communities (a) | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
West Region | ​ | $ | 3,371 | ​ | $ | 2,713 | ​ | $ | 9,198 | ​ | $ | 7,931
Mid-Atlantic Region | ​ |  | 3,146 | ​ |  | 2,549 | ​ |  | 8,320 | ​ |  | 6,548
Northeast Region | ​ |  | 1,937 | ​ |  | 1,619 | ​ |  | 4,624 | ​ |  | 3,773
Southeast Region | ​ |  | 2,006 | ​ |  | 1,732 | ​ |  | 5,920 | ​ |  | 5,333
Southwest Region | ​ |  | 1,647 | ​ |  | 1,363 | ​ |  | 3,120 | ​ |  | 2,976
Non-Mature Communities/Other | ​ |  | 1,070 | ​ |  | 98 | ​ |  | 4,410 | ​ |  | 1,197
Total segment and consolidated other revenue | ​ | $ | 13,177 | ​ | $ | 10,074 | ​ | $ | 35,592 | ​ | $ | 27,758
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total reportable apartment home segment rental income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Same-Store Communities (a) | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
West Region | ​ | $ | 122,214 | ​ | $ | 112,020 | ​ | $ | 349,929 | ​ | $ | 315,069
Mid-Atlantic Region | ​ |  | 74,608 | ​ |  | 68,664 | ​ |  | 209,795 | ​ |  | 195,445
Northeast Region | ​ |  | 71,514 | ​ |  | 61,521 | ​ |  | 201,682 | ​ |  | 178,568
Southeast Region | ​ |  | 50,614 | ​ |  | 42,825 | ​ |  | 145,032 | ​ |  | 125,064
Southwest Region | ​ |  | 38,448 | ​ |  | 33,624 | ​ |  | 83,688 | ​ |  | 74,686
Non-Mature Communities/Other | ​ |  | 32,625 | ​ |  | 10,045 | ​ |  | 123,826 | ​ |  | 48,809
Total segment and consolidated rental income | ​ | $ | 390,023 | ​ | $ | 328,699 | ​ | $ | 1,113,952 | ​ | $ | 937,641
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reportable apartment home segment NOI | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Same-Store Communities (a) | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
West Region | ​ | $ | 90,586 | ​ | $ | 82,271 | ​ | $ | 261,876 | ​ | $ | 230,569
Mid-Atlantic Region | ​ |  | 51,051 | ​ |  | 46,504 | ​ |  | 144,749 | ​ |  | 133,676
Northeast Region | ​ |  | 46,014 | ​ |  | 36,777 | ​ |  | 130,392 | ​ |  | 109,243
Southeast Region | ​ |  | 34,434 | ​ |  | 28,157 | ​ |  | 99,029 | ​ |  | 82,704
Southwest Region | ​ |  | 23,609 | ​ |  | 20,751 | ​ |  | 52,651 | ​ |  | 46,255
Non-Mature Communities/Other | ​ |  | 19,324 | ​ |  | 5,020 | ​ |  | 74,809 | ​ |  | 26,727
Total segment and consolidated NOI | ​ |  | 265,018 | ​ |  | 219,480 | ​ |  | 763,506 | ​ |  | 629,174
Reconciling items: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Joint venture management and other fees | ​ |  | 1,274 | ​ |  | 1,071 | ​ |  | 3,778 | ​ |  | 4,918
Property management | ​ |  | (12,675) | ​ |  | (9,861) | ​ |  | (36,203) | ​ |  | (28,129)
Other operating expenses | ​ |  | (3,746) | ​ |  | (4,237) | ​ |  | (13,485) | ​ |  | (13,045)
Real estate depreciation and amortization | ​ |  | (166,781) | ​ |  | (152,636) | ​ |  | (497,987) | ​ |  | (442,893)
General and administrative | ​ |  | (15,840) | ​ |  | (15,810) | ​ |  | (47,333) | ​ |  | (43,673)
Casualty-related (charges)/recoveries, net | ​ |  | (901) | ​ |  | (1,568) | ​ |  | (1,210) | ​ |  | (4,682)
Other depreciation and amortization | ​ |  | (3,430) | ​ |  | (3,269) | ​ |  | (9,521) | ​ |  | (8,472)
Gain/(loss) on sale of real estate owned | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 50,829
Income/(loss) from unconsolidated entities | ​ |  | 10,003 | ​ |  | 14,450 | ​ |  | 4,186 | ​ |  | 29,123
Interest expense | ​ |  | (39,905) | ​ |  | (36,289) | ​ |  | (112,653) | ​ |  | (149,849)
Interest income and other income/(expense), net | ​ |  | (7,495) | ​ |  | 8,238 | ​ |  | (6,934) | ​ |  | 12,831
Tax (provision)/benefit, net | ​ |  | (377) | ​ |  | (529) | ​ |  | (1,032) | ​ |  | (1,283)
Net (income)/loss attributable to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership | ​ |  | (1,533) | ​ |  | (1,260) | ​ |  | (2,684) | ​ |  | (2,221)
Net (income)/loss attributable to noncontrolling interests | ​ |  | (7) | ​ |  | (49) | ​ |  | (34) | ​ |  | (73)
Net income/(loss) attributable to UDR, Inc. | ​ | $ | 23,605 | ​ | $ | 17,731 | ​ | $ | 42,394 | ​ | $ | 32,555
(a) | Same-Store Community population consisted of 50,318 apartment homes.
(b) | Same-Store Community population consisted of 47,344 apartment homes.
​
Details of assets of UDR's reportable segments | The following table details the assets of UDR’s reportable segments as of September 30, 2022 and December 31, 2021 (dollars in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, |  | December 31,
​ | ​ | 2022 | ​ | 2021
Reportable apartment home segment assets: |  | ​ |  |  | ​ |
Same-Store Communities (a): |  | ​ |  |  | ​ |
West Region | ​ | $ | 4,482,472 | ​ | $ | 4,433,824
Mid-Atlantic Region | ​ |  | 2,992,280 | ​ |  | 2,978,060
Northeast Region | ​ |  | 3,444,332 | ​ |  | 3,422,846
Southeast Region | ​ |  | 1,226,851 | ​ |  | 1,208,183
Southwest Region | ​ |  | 1,270,687 | ​ |  | 1,247,434
Non-Mature Communities/Other | ​ |  | 2,051,358 | ​ |  | 1,450,456
Total segment assets | ​ |  | 15,467,980 | ​ |  | 14,740,803
Accumulated depreciation | ​ |  | (5,605,809) | ​ |  | (5,137,096)
Total segment assets — net book value | ​ |  | 9,862,171 | ​ |  | 9,603,707
Reconciling items: | ​ |  |  | ​ |  |
Cash and cash equivalents | ​ |  | 1,532 | ​ |  | 967
Restricted cash | ​ |  | 28,363 | ​ |  | 27,451
Notes receivable, net | ​ |  | 40,128 | ​ |  | 26,860
Investment in and advances to unconsolidated joint ventures, net | ​ |  | 761,117 | ​ |  | 702,461
Operating lease right-of-use assets | ​ | ​ | 194,923 | ​ | ​ | 197,463
Other assets | ​ |  | 209,728 | ​ |  | 216,311
Total consolidated assets | ​ | $ | 11,097,962 | ​ | $ | 10,775,220
(a) | Same-Store Community population consisted of 50,318 apartment homes.
​

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 + Details
Name: | us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
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