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AVALONBAY COMMUNITIES INC (AVB)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
  Older >>
In millions, except per share itemsDec-31-22Dec-31-21Dec-31-20Dec-31-19Dec-31-18Dec-31-17Dec-31-16Dec-31-15
   10-K10-K10-K10-K10-K10-K10-K10-K
Total revenues   [+]2,593.42,294.92,301.32,324.62,284.52,158.62,045.31,856.0
            Revenue growth  13.0%-0.3%-1.0%1.8%5.8%5.5%10.2%10.1%
Cost of goods sold   [+]919.1853.9823.1768.1766.6722.3683.3642.2
Gross profit  1,674.31,440.91,478.21,556.51,518.01,436.31,362.01,213.8
            Gross margin  64.6%62.8%64.2%67.0%66.4%66.5%66.6%65.4%
Selling, general and administrative   [+]74.169.660.358.060.453.745.842.8
Equity in earnings  53.438.66.48.715.370.765.070.0
Other operating expenses  252.5188.7382.1499.6294.8403.5129.9288.0
EBITDA   [+]2,216.11,979.81,749.41,669.11,809.31,634.01,782.71,430.9
            EBITDA margin  85.4%86.3%76.0%71.8%79.2%75.7%87.2%77.1%
Depreciation and amortization  815.0758.6707.3661.6631.2584.2531.4477.9
EBIT   [+]1,401.11,221.21,042.11,007.51,178.11,049.81,251.2953.0
            EBIT margin  54.0%53.2%45.3%43.3%51.6%48.6%61.2%51.3%
Non-recurring items   [+]5.05.20.40.40.6-1.236.87.4
Interest expense  230.1220.4214.2203.6221.0199.7187.5175.6
Other income (expense), net   [+]-14.914.6-3.1-4.417.525.57.1-26.7
Pre-tax income  1,151.11,010.1824.5799.1974.0876.81,034.0743.2
Income taxes  14.65.7-3.213.0-0.20.10.31.5
            Tax rate  1.3%0.6% 1.6% 0.0%0.0%0.2%
Minority interest  0.3-0.1-0.1-0.10.40.3-0.3-0.3
Net income  1,136.81,004.3827.6786.0974.5876.91,034.0742.0
            Net margin  43.8%43.8%36.0%33.8%42.7%40.6%50.6%40.0%
   
Basic EPS   [+]$8.14$7.20$5.91$5.65$7.07$6.38$7.55$5.56
Diluted EPS   [+]$8.12$7.19$5.89$5.63$7.05$6.35$7.52$5.51
   
Dividends per share   [+]$6.36$6.36$6.36$6.08$5.88$5.68$5.40$5.00
   
Shares outstanding (basic)   [+]139.6139.4140.1139.1137.8137.5136.9133.6
Shares outstanding (diluted)   [+]140.0139.7140.4139.6138.3138.1137.5134.6
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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