艾芙隆海湾社区 2025年季度报告

FORM10-Q QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period endedMarch31, 2025 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from ______ to ______ Commission File Number:1-12672 77-0404318(I.R.S. Employer Identification No.) (State or other jurisdiction of incorporation or organization) 4040 Wilson Blvd., Suite 1000Arlington,Virginia22203(Address of principal executive offices) (Zip Code)(703)329-6300(Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each classCommon Stock, par value $0.01 per share Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities Exchange Act of1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such Yes☒ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit Yes☒ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, oran emerging growth company.See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growthcompany" in Rule12b-2 of the Exchange Act. Large accelerated filer☒Non-accelerated filer☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with anynew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).Yes☐No☒ 142,368,177shares of common stock, par value $0.01 per share, were outstanding as of April30, 2025. PARTI - FINANCIAL INFORMATION ITEM 1.CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATED BALANCE SHEETS AS OFMARCH31, 2025(UNAUDITED) ANDDECEMBER 31, 2024 AVALONBAY COMMUNITIES,INC.CONDENSED CONSOLIDATED BALANCE SHEETS AVALONBAY COMMUNITIES,INC.CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME AVALONBAY COMMUNITIES,INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Table ofContents CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (continued) The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the Condensed ConsolidatedStatements of Cash Flows (dollars in thousands): Supplemental disclosures of non-cash investing and financing activities: During the three months ended March 31, 2025: •As described in Note 4, "Equity," the Company issued181,588shares of common stock as part of the Company's stock-basedcompensation plans, of which103,332shares related to the conversion of performance awards to shares of common stock,and the remaining78,256shares valued at $17,346,000were issued in connection with new stock grants;811shares valued at •Common stock dividends declared but not paid totaled $249,599,000. •The Company recorded (i) a decrease to prepaid expenses and other assets of $3,597,000and a corresponding adjustment toaccumulated other comprehensive income; and (ii) reclassified $273,000of cash flow hedge gains from other comprehensive During the three months ended March 31, 2024: •The Company issued248,420shares of common stock as part of the Company's stock-based compensation plans, of which146,725shares related to the conversion of performance awards to shares of common stock, and the remaining101,695shares valued at $17,505,000were issued in connection with new stock grants;939shares valued at $169,000were issued •Common stock dividends declared but not paid totaled $242,116,000. •The Company recorded (i) an increase to prepaid expenses and other assets of $7,339,000and a corresponding adjustment toaccumulated other comprehensive income; and (ii) reclassified $146,000of cash flow hedge losses from other comprehensive 1.Organization, Basis of Presentation and Significant Accounting Policies Organization and Basis of Presentation AvalonBayCommunities,Inc.(the"Company,"which term,unless the context otherwise requires,refers to AvalonBayCommunities,Inc. together with its subsidiaries) is a Maryland corporation that has elected to be treated as a real estate investmenttrust ("REIT") for federal income tax purposes under the Internal Revenue Code of 1986, as amended (the "Code"). The Companydevelops, redevelops, acquires, owns and operates multifamily communities in New England, the New York/New Jersey metro area,the Mid-Atlantic, the Pacific Northwest, and Northern and So