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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.