Derivatives and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2012

Notes To Financial Statements [Abstract]

Outstanding Interest Rate Derivatives

As of December 31, 2012 we had the following outstanding interest rate derivatives that were not designated as hedges:

Interest Rate Derivative	Number of Instruments	Notional
Interest Rate Caps	9	$55,875,000

As of December 31, 2012 we had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk:

Interest Rate Derivative	Number of Instruments	Notional
Interest Rate Caps	14	$232,576,000
Interest Rate Swaps	20	$559,000,000

Fair Values of Derivative Instruments on Condensed Consolidated Balance Sheet

The table below presents the fair value of our derivative financial instruments as well as their classification on the Consolidated Balance Sheet as of December 31, 2012 and December 31, 2011, respectively: (dollars in thousands)

	Asset Derivatives					Liability Derivatives
		31-Dec-12		31-Dec-11			31-Dec-12		31-Dec-11
Derivatives designated as hedging instruments	Balance Sheet Location	Fair Value		Fair Value		Balance Sheet Location	Fair Value		Fair Value
Interest rate contracts	Other assets	$	245	$	975	Fair market value of interest rate swaps	$	21,423	$	33,095
Total derivatives designated as hedging instruments		$	245	$	975		$	21,423	$	33,095
Derivatives not designated as hedging instruments
Interest rate contracts	Other assets	$	43	$	43		$	—	$	—
Total derivatives not designated as hedging instruments		$	43	$	43		$	—	$	—

Effect of Derivative Instruments on Consolidated Statement of Operations

The tables below present the effect of our derivative financial instruments on the Consolidated Statement of Operations for the years ended December 31, 2012, 2011 and 2010, respectively: (dollars in thousands)

Derivatives in Cash Flow Hedging Relationships	Amount of Gain or (Loss) Recognized in OCI on Derivative (Effective Portion)									Location of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)									Location of Gain or (Loss Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)	Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
Years ended December 31,	2012			2011			2010				2012			2011			2010				2012			2011			2010
Interest rate contracts	$	(8,411	)	$	(14,012	)	$	(35,539	)	Interest expense	$	(20,113	)	$	(27,639	)	$	(34,021	)	Interest expense	$	(39	)	$	(195	)	$	(269	)
Total derivatives in cash flow hedging relationships	$	(8,411	)	$	(14,012	)	$	(35,539	)		$	(20,113	)	$	(27,639	)	$	(34,021	)		$	(39	)	$	(195	)	$	(269	)

Derivatives Not Designated as Hedging Instruments	Location of Gain or (Loss) Recognized in Income on Derivative	Amount of Gain or (Loss) Recognized in Income on Derivative
For the year ended December 31,		2012			2011			2010
Interest rate products	Interest income/(expense)	$	(66	)	$	(24	)	$	—
Total		$	(66	)	$	(24	)	$	—

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income

The chart below shows the change in the balance for the years ended December 31, 2012, 2011, and 2010:

Changes in Accumulated Other Comprehensive Income by Component	Affected Line Item in the Consolidated Statements Of Operations	Gains and Losses on Cash Flow Hedges
For the year ended December 31,		2012			2011			2010
Beginning balance		$	(35,848	)	$	(48,847	)	$	(47,435	)
Other comprehensive income before reclassifications		(8,411		)	(14,012		)	(35,539		)
Amounts reclassified from accumulated other comprehensive income (interest rate contracts)	Interest (income)/expense	20,113			27,639			34,021
Net current-period other comprehensive income attributable to noncontrolling interest		(1,908		)	(628		)	106
Net current-period other comprehensive income attributable to MAA		9,794			12,999			(1,412		)
Ending balance		$	(26,054	)	$	(35,848	)	$	(48,847	)