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American Campus Communities Inc, et al. – ‘10-Q’ for 9/30/17 – ‘R20’

On:  Friday, 11/3/17, at 11:53am ET   ·   For:  9/30/17   ·   Accession #:  1283630-17-114   ·   File #s:  1-32265, 333-181102-01

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  As Of               Filer                 Filing    For·On·As Docs:Size

11/03/17  American Campus Communities Inc   10-Q        9/30/17   83:10M
          American Campus Communities Operating Partnership LP

Quarterly Report   —   Form 10-Q   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML    953K 
 2: EX-31.1     Certification -- §302 - SOA'02                      HTML     32K 
 3: EX-31.2     Certification -- §302 - SOA'02                      HTML     32K 
 4: EX-31.3     Certification -- §302 - SOA'02                      HTML     32K 
 5: EX-31.4     Certification -- §302 - SOA'02                      HTML     32K 
 6: EX-32.1     Certification -- §906 - SOA'02                      HTML     27K 
 7: EX-32.2     Certification -- §906 - SOA'02                      HTML     27K 
 8: EX-32.3     Certification -- §906 - SOA'02                      HTML     27K 
 9: EX-32.4     Certification -- §906 - SOA'02                      HTML     27K 
16: R1          Document and Entity Information                     HTML     49K 
17: R2          Consolidated Balance Sheets                         HTML    137K 
18: R3          Consolidated Balance Sheets (Parentheticals)        HTML     41K 
19: R4          Consolidated Statements of Comprehensive Income     HTML    160K 
20: R5          Consolidated Statement of Changes in Equity/        HTML    104K 
                Capital                                                          
21: R6          Consolidated Statements of Cash Flows               HTML    192K 
22: R7          Organization and Description of Business            HTML     35K 
23: R8          Summary of Significant Accounting Policies          HTML    176K 
24: R9          Acquisitions and Joint Venture Investments          HTML     85K 
25: R10         Property Dispositions                               HTML     34K 
26: R11         Investments in Wholly-Owned Properties              HTML     50K 
27: R12         On-Campus Participating Properties                  HTML     58K 
28: R13         Debt                                                HTML    102K 
29: R14         Stockholders' Equity / Partners' Capital            HTML     50K 
30: R15         Noncontrolling Interests                            HTML     41K 
31: R16         Incentive Award Plan                                HTML     44K 
32: R17         Derivative Instruments and Hedging Activities       HTML     59K 
33: R18         Fair Value Disclosures                              HTML    100K 
34: R19         Commitments and Contingencies                       HTML     40K 
35: R20         Segments                                            HTML    204K 
36: R21         Subsequent Events                                   HTML     32K 
37: R22         Summary of Significant Accounting Policies          HTML     81K 
                (Policies)                                                       
38: R23         Summary of Significant Accounting Policies          HTML    148K 
                (Tables)                                                         
39: R24         Acquisitions and Joint Venture Investments          HTML     72K 
                (Tables)                                                         
40: R25         Property Dispositions (Tables)                      HTML     31K 
41: R26         Investments in Wholly-Owned Properties (Tables)     HTML     48K 
42: R27         On-Campus Participating Properties (Tables)         HTML     56K 
43: R28         Debt (Tables)                                       HTML     85K 
44: R29         Stockholders' Equity / Partners' Capital (Tables)   HTML     44K 
45: R30         Noncontrolling Interests (Tables)                   HTML     32K 
46: R31         Incentive Award Plan (Tables)                       HTML     37K 
47: R32         Derivative Instruments and Hedging Activities       HTML     58K 
                (Tables)                                                         
48: R33         Fair Value Disclosures (Tables)                     HTML     90K 
49: R34         Segments (Tables)                                   HTML    204K 
50: R35         Organization and Description of Business -          HTML     65K 
                Narrative (Details)                                              
51: R36         Summary of Significant Accounting Policies -        HTML     38K 
                Estimated Useful Lives of Assets (Details)                       
52: R37         Summary of Significant Accounting Policies -        HTML     40K 
                Additional Information (Detail Textuals)                         
53: R38         Summary of Significant Accounting Policies -        HTML     36K 
                Potentially Dilutive Securities Not Included in                  
                Calculating Diluted Earnings Per Share (Details)                 
54: R39         Summary of Significant Accounting Policies -        HTML     59K 
                Summary of Elements Used in Calculating Basic and                
                Diluted Earnings per Share (Details)                             
55: R40         Summary of Significant Accounting Policies -        HTML     61K 
                Summary of Elements Used in Calculating Basic and                
                Diluted Earnings per Unit (Details)                              
56: R41         Acquisitions and Joint Venture Investments -        HTML    107K 
                Narrative (Details)                                              
57: R42         Acquisitions and Joint Venture Investments -        HTML     60K 
                Schedule of Business Aquisitions by Acquisition                  
                (Details)                                                        
58: R43         Property Dispositions - Additional Information      HTML     43K 
                (Detail Textuals)                                                
59: R44         Property Dispositions - Summary of Properties       HTML     31K 
                Classified as Held for Sale (Details)                            
60: R45         Investments in Wholly-Owned Properties - Summary    HTML     43K 
                (Details)                                                        
61: R46         Investments in Wholly-Owned Properties - Summary    HTML     37K 
                (Detail Textuals)                                                
62: R47         On-Campus Participating Properties (Details)        HTML     64K 
63: R48         Debt - Summary of Outstanding Consolidated          HTML     69K 
                Indebtedness, Including Unamortized Debt Premiums                
                and Discounts (Details)                                          
64: R49         Debt - Additional Information (Details)             HTML     92K 
65: R50         Debt - Summary of Senior Unsecured Notes (Details)  HTML     49K 
66: R51         Stockholders' Equity / Partners' Capital -          HTML     53K 
                Narrative (Details)                                              
67: R52         Stockholders' Equity / Partners' Capital - Summary  HTML     36K 
                of Equity Program Activity (Details)                             
68: R53         Noncontrolling Interests - Additional Information   HTML     53K 
                (Detail Textuals)                                                
69: R54         Noncontrolling Interests - Summarized Activity of   HTML     48K 
                Redeemable Limited Partners (Details)                            
70: R55         Incentive Award Plan - Additional Information       HTML     46K 
                (Detail Textuals)                                                
71: R56         Incentive Award Plan - Summary of Restricted Stock  HTML     35K 
                Unit (Details)                                                   
72: R57         Incentive Award Plan - Summary of Restricted Stock  HTML     36K 
                Awards (Details)                                                 
73: R58         Derivative Instruments and Hedging Activities -     HTML     46K 
                Summary of Outstanding Interest Rate Swap                        
                Contracts (Details)                                              
74: R59         Derivative Instruments and Hedging Activities -     HTML     32K 
                Fair Value of Derivative Financial Instruments and               
                Classification on Consolidated Balance Sheet                     
                (Details)                                                        
75: R60         Fair Value Disclosures - Financial Instruments      HTML     43K 
                Measured at Fair Value (Details)                                 
76: R61         Fair Value Disclosures - Estimated Fair Value and   HTML     39K 
                Related Carrying Amounts of Mortgage Loans and                   
                Bonds Payable (Details)                                          
77: R62         Commitments and Contingencies - Narrative           HTML     82K 
                (Details)                                                        
78: R63         Segments - Additional Information (Details)         HTML     26K 
79: R64         Segments - Summary (Details)                        HTML    103K 
80: R65         Subsequent Events - Narrative (Details)             HTML     69K 
82: XML         IDEA XML File -- Filing Summary                      XML    145K 
81: EXCEL       IDEA Workbook of Financial Reports                  XLSX    101K 
10: EX-101.INS  XBRL Instance -- acc-20170930                        XML   3.03M 
12: EX-101.CAL  XBRL Calculations -- acc-20170930_cal                XML    233K 
13: EX-101.DEF  XBRL Definitions -- acc-20170930_def                 XML   1.15M 
14: EX-101.LAB  XBRL Labels -- acc-20170930_lab                      XML   1.78M 
15: EX-101.PRE  XBRL Presentations -- acc-20170930_pre               XML   1.23M 
11: EX-101.SCH  XBRL Schema -- acc-20170930                          XSD    199K 
83: ZIP         XBRL Zipped Folder -- 0001283630-17-000114-xbrl      Zip    305K

‘R20’   —   Segments

This is an IDEA Financial Report.  [ Alternative Formats ]

 
v3.8.0.1
Segments
 9 Months Ended
Segment Reporting [Abstract]  
Segments
Segments
 
The Company defines business segments by their distinct customer base and service provided.  The Company has identified four reportable segments: Wholly-Owned Properties, On-Campus Participating Properties, Development Services, and Property Management Services.  Management evaluates each segment’s performance based on operating income before depreciation, amortization, minority interests and allocation of corporate overhead.  Intercompany fees are reflected at the contractually stipulated amounts.
 
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
 
2017
 
2016
 
2017
 
2016
Wholly-Owned Properties
 
 
 
 
 
 
 
 
Rental revenues and other income
 
$
184,282

 
$
186,504

 
$
533,866

 
$
548,403

Interest income
 
385

 
345

 
1,161

 
878

Total revenues from external customers
 
184,667

 
186,849

 
535,027

 
549,281

Operating expenses before depreciation, amortization, ground/facility leases and allocation of corporate overhead
 
(97,545
)
 
(99,820
)
 
(242,315
)
 
(254,523
)
Ground/facility leases
 
(1,877
)
 
(1,614
)
 
(5,163
)
 
(4,520
)
Interest expense, net (1)
 
(1,540
)
 
(4,078
)
 
(1,194
)
 
(16,215
)
Operating income before depreciation, amortization, and allocation of corporate overhead
 
$
83,705

 
$
81,337

 
$
286,355

 
$
274,023

Depreciation and amortization
 
$
58,339

 
$
49,464

 
$
161,341

 
$
151,740

Capital expenditures
 
$
196,910

 
$
119,589

 
$
473,638

 
$
329,932

Total segment assets at September 30,
 
$
6,488,259

 
$
6,062,852

 
$
6,488,259

 
$
6,062,852

 
 
 
 
 
 
 
 
 
On-Campus Participating Properties
 
 

 
 

 
 

 
 

Total revenues and other income
 
$
6,799

 
$
6,758

 
$
23,128

 
$
23,018

Interest income
 
24

 
2

 
47

 
4

Total revenues from external customers
 
6,823

 
6,760

 
23,175

 
23,022

Operating expenses before depreciation, amortization, ground/facility leases and allocation of corporate overhead
 
(3,611
)
 
(3,507
)
 
(10,109
)
 
(9,278
)
Ground/facility leases
 
(452
)
 
(351
)
 
(1,988
)
 
(2,216
)
Interest expense
 
(1,312
)
 
(1,394
)
 
(3,987
)
 
(4,231
)
Operating income before depreciation, amortization and allocation of corporate overhead
 
$
1,448

 
$
1,508

 
$
7,091

 
$
7,297

Depreciation and amortization
 
$
1,892

 
$
1,839

 
$
5,621

 
$
5,493

Capital expenditures
 
$
2,039

 
$
1,446

 
$
2,909

 
$
2,510

Total segment assets at September 30,
 
$
101,027

 
$
105,774

 
$
101,027

 
$
105,774

 
 
 
 
 
 
 
 
 
Development Services
 
 

 
 

 
 

 
 

Development and construction management fees
 
$
3,566

 
$
773

 
$
4,697

 
$
3,929

Operating expenses
 
(4,185
)
 
(3,434
)
 
(11,396
)
 
(10,414
)
Operating loss before depreciation, amortization and allocation of corporate overhead
 
$
(619
)
 
$
(2,661
)
 
$
(6,699
)
 
$
(6,485
)
Total segment assets at September 30,
 
$
4,918

 
$
2,279

 
$
4,918

 
$
2,279

 
 
 
 
 
 
 
 
 
Property Management Services
 
 

 
 

 
 

 
 

Property management fees from external customers
 
$
2,291

 
$
2,376

 
$
7,193

 
$
7,039

Intersegment revenues
 
5,128

 
5,830

 
14,835

 
17,410

Total revenues
 
7,419

 
8,206

 
22,028

 
24,449

Operating expenses
 
(3,034
)
 
(2,742
)
 
(9,719
)
 
(8,542
)
Operating income before depreciation, amortization and allocation of corporate overhead
 
$
4,385

 
$
5,464

 
$
12,309

 
$
15,907

Total segment assets at September 30,
 
$
11,067

 
$
10,692

 
$
11,067

 
$
10,692

 
 
 
 
 
 
 
 
 
 
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
 
2017
 
2016
 
2017
 
2016
 
 
 
 
 
 
 
 
 
Reconciliations
 
 

 
 

 
 

 
 

Total segment revenues and other income
 
$
202,475

 
$
202,588

 
$
584,927

 
$
600,681

Unallocated interest income earned on investments and corporate cash
 
850

 
925

 
2,515

 
3,144

Elimination of intersegment revenues
 
(5,128
)
 
(5,830
)
 
(14,835
)
 
(17,410
)
Total consolidated revenues, including interest income
 
$
198,197

 
$
197,683

 
$
572,607

 
$
586,415

 
 
 
 
 
 
 
 
 
Segment operating income before depreciation, amortization and allocation of corporate overhead
 
$
88,919

 
$
85,648

 
$
299,056

 
$
290,742

Depreciation and amortization
 
(62,271
)
 
(53,411
)
 
(172,588
)
 
(164,724
)
Net unallocated expenses relating to corporate interest and overhead
 
(27,614
)
 
(22,047
)
 
(79,165
)
 
(67,573
)
(Loss) gain from disposition of real estate
 
—

 
—

 
(632
)
 
17,409

Provision for real estate impairment
 
—

 
—

 
(15,317
)
 
—

Income tax provision
 
(267
)
 
(345
)
 
(791
)
 
(1,035
)
Net income
 
$
(1,233
)
 
$
9,845

 
$
30,563

 
$
74,819

 
 
 
 
 
 
 
 
 
Total segment assets
 
$
6,605,271

 
$
6,181,597

 
$
6,605,271

 
$
6,181,597

Unallocated corporate assets
 
81,620

 
97,778

 
81,620

 
97,778

Total assets at September 30,
 
$
6,686,891

 
$
6,279,375

 
$
6,686,891

 
$
6,279,375

 
 
 
 
 
 
 
 
 

(1) 
Net of capitalized interest and amortization of debt premiums.

Dates Referenced Herein

This ‘10-Q’ Filing    Date    Other Filings
Filed on:11/3/17None on these Dates
For Period end:9/30/17
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Filing Submission 0001283630-17-000114   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)
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