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Segment Information
 12 Months Ended
Dec. 31, 2012
Notes To Financial Statements [Abstract]  
SEGMENT INFORMATION
SEGMENT INFORMATION
 
As of December 31, 2012, MAA owned or had an ownership interest in 166 multifamily apartment communities in 13 different states from which we derived all significant sources of earnings and operating cash flows. Senior management evaluates performance and determines resource allocations by reviewing apartment communities individually and in the following reportable operating segments:
 
•
Large market same store communities are generally communities in markets with a population of at least 1 million and at least 1% of the total public multifamily REIT units that we have owned and have been stabilized for at least a full 12 months and have not been classified as held for sale.

•
Secondary market same store communities are generally communities in markets with populations of more than 1 million but less than 1% of the total public multifamily REIT units or markets with populations of less than 1 million that we have owned and have been stabilized for at least a full 12 months and have not been classified as held for sale.

•
Non same store communities and other includes recent acquisitions, communities in development or lease-up and communities that have been classified as held for sale. Also included in non same store communities are non multifamily activities which represent less than 1% of our portfolio.

On the first day of each calendar year, we determine the composition of our same store operating segments for that year, which allows us to evaluate full period-over-period operating comparisons. We utilize NOI, in evaluating the performance. Total NOI represents total property revenues less total property operating expenses, excluding depreciation and amortization, for all properties held during the period regardless of their status as held for sale. We believe NOI is a helpful tool in evaluating the operating performance of our segments because it measures the core operations of property performance by excluding corporate level expenses and other items not related to property operating performance.
 

Revenues and NOI for each reportable segment for the years ended December 31, 2012, 2011 and 2010, were as follows (dollars in thousands):
 
 
2012
 
2011
 
2010 (1)
Revenues
 

 
 

 
 

Large Market Same Store
$
226,725

 
$
213,800

 
$
194,912

Secondary Market Same Store
193,138

 
187,202

 
179,692

Non-Same Store and Other
76,403

 
28,787

 
22,721

Total property revenues
496,266

 
429,789

 
397,325

Management fee income
899

 
1,017

 
680

Total operating revenues
$
497,165

 
$
430,806

 
$
398,005

 
 
 
 
 
 
NOI
 

 
 

 
 

Large Market Same Store
$
132,711

 
$
122,447

 
$
110,548

Secondary Market Same Store
112,867

 
108,024

 
102,771

Non-Same Store and Other
51,498

 
27,565

 
13,610

Total NOI
297,076

 
258,036

 
226,929

Discontinued operations NOI included above
(4,136
)
 
(10,824
)
 
(11,059
)
Management fee income
899

 
1,017

 
680

Depreciation and amortization
(126,136
)
 
(110,870
)
 
(98,384
)
Acquisition expense
(1,581
)
 
(3,319
)
 
(2,512
)
Property management expense
(22,084
)
 
(20,700
)
 
(18,035
)
General and administrative expense
(13,762
)
 
(18,123
)
 
(12,354
)
Interest and other non-property income
430

 
802

 
903

Interest expense
(58,751
)
 
(57,415
)
 
(54,632
)
Loss on debt extinguishment
(654
)
 
(755
)
 
—

Amortization of deferred financing costs
(3,552
)
 
(2,902
)
 
(2,627
)
Net casualty (loss) gain and other settlement proceeds
(6
)
 
(619
)
 
314

Gain on sale of non-depreciable assets
45

 
1,084

 
—

Gain on properties contributed to joint ventures
—

 
—

 
752

Loss from real estate joint ventures
(223
)
 
(593
)
 
(1,149
)
Discontinued operations
42,260

 
16,412

 
2,049

Net income attributable to noncontrolling interests
(4,602
)
 
(2,410
)
 
(1,114
)
Net income attributable to MAA
$
105,223

 
$
48,821

 
$
29,761


(1) The 2010 column shows the segment break down based on the 2011 same store portfolios. A comparison using the 2012 same store portfolio would not be comparative due to the nature of the classifications.

Assets for each reportable segment as of December 31, 2012 and 2011 were as follows (dollars in thousands):
 
 
December 31, 2012
 
December 31, 2011
Assets
 

 
 

Large Market Same Store
$
1,108,827

 
$
1,017,015

Secondary Market Same Store
654,315

 
668,109

Non-Same Store and Other
949,398

 
760,132

Corporate assets
38,528

 
85,212

Total assets
$
2,751,068

 
$
2,530,468