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Financial Information

As Reported Financials

Source Document Currency Code (in thousands) 2019 Q1 YTD 3/31/2019 USD 2018 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2016 Y 12/31/2018 USD 2015 Y 12/31/2017 USD
Source Document Currency Code 2019 Q1 YTD 3/31/2019 USD 2018 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2016 Y 12/31/2018 USD 2015 Y 12/31/2017 USD

Revenues

Owned properties 224,419 825,959 738,710 735,392 704,909
On-campus participating properties 11,448 34,596 33,945 33,433 31,586
Third-party development services 3,171 7,281 10,761 4,606 4,964
Third-party management services 2,311 9,814 9,832 9,724 8,813
Resident services 782 3,160 3,199 3,206 3,109
Total revenues 242,131 880,810 796,447 786,361 753,381

Operating expenses

Owned properties 92,169 373,521 332,429 337,296 331,836
On-campus participating properties 3,957 14,602 14,384 13,447 12,437
Third-party development and management services 4,186 15,459 15,225 14,533 14,346
General and administrative 7,315 34,537 31,386 22,493 20,838
Depreciation and amortization 68,755 263,203 234,955 211,387 208,788
Ground/facility leases 3,549 11,855 10,213 9,167 8,232
(Gain) loss from disposition of real estate NA (42,314) 632 (21,197) 52,699
Provision for real estate impairment 3,201 0 15,317 4,895 0
Other operating income NA (2,648) 0 0 388
Total operating expenses 183,132 668,215 654,541 592,021 596,477
Operating income 58,999 212,595 141,906 194,340 156,904

Nonoperating income (expenses)

Interest income 926 4,834 4,945 5,481 4,421
Interest expense (27,061) (99,228) (71,122) (78,687) (87,789)
Amortization of deferred financing costs (1,132) (5,816) (4,619) (6,520) (5,550)
Gain (loss) from extinguishment of debt, net NA 7,867 0 (12,841) (1,770)
Other nonoperating income NA 1,301 0 0 NA
Total nonoperating expenses (27,267) (91,042) (70,796) (92,567) (37,601)
Income before income taxes 31,732 121,553 71,110 101,773 119,303
Income tax provision (364) (2,429) (989) (1,150) (1,242)
Net income 31,368 119,124 70,121 100,623 118,061
Net income attributable to noncontrolling interests (1,728) (2,029) (1,083) (1,562) (2,070)
Net income attributable to ACC, Inc. and Subsidiaries common stockholders 29,640 117,095 69,038 99,061 115,991

Other comprehensive (loss) income

Change in fair value of interest rate swaps and other (5,794) (1,696) 1,366 1,763 464
Comprehensive income 23,846 115,399 70,404 100,824 116,455

Net income per share attributable to ACC, Inc. and Subsidiaries common shareholders

Basic 0.21 0.84 0.50 0.76 1.03
Diluted 0.21 0.84 0.50 0.75 1.02

Weighted-average common shares outstanding

Basic 137,101,535 136,815,051 135,141,423 129,228,748 111,987,361
Diluted 138,152,378 137,722,049 136,002,385 130,018,729 114,032,222
Distributions declared per common share NA 1.82 1.74 1.66 1.58
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.