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Segment Information
 6 Months Ended
Jun. 30, 2013
Notes To Financial Statements [Abstract]  
Segment Information
Segment Information
As of June 30, 2013, MAALP owned or had an ownership interest in 150 multifamily apartment communities in 12 different states from which it 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 one million and at least 1% of the total public multifamily REIT units; and
◦
that MAALP has owned and have been stabilized for at least a full 12 months and have been identified as a disposition property by the Board of Directors.

•
Secondary market same store communities are generally communities:
◦
in markets with populations of more than one million but less than 1% of the total public multifamily REIT units or in markets with a population of less than one million; and
◦
that MAALP has owned and have been stabilized for at least a full 12 months and have been identified as a disposition property by the Board of Directors.
•
Non same store communities and other includes recent acquisitions, communities in development or lease-up and communities that have been identified for disposition. 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, MAALP determines the composition of our same store operating segments for that year as well as adjusting the previous year, which allows MAALP to evaluate full period-over-period operating comparisons. Properties in development or lease-up will be added to the same store portfolio on the first day of the calendar year after they have been owned and stabilized for at least a full 12 months. Communities are considered stabilized after achieving 90% occupancy for 90 days. Communities that have been identified for disposition are excluded from our same store profits. A property becomes stabilized when it reaches 90% occupancy for at least 90 days.  MAALP utilizes net operating income, or NOI, in evaluating the performance of the segments.  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. MAALP believes NOI is a helpful tool in evaluating the operating performance of its segments because it measures the core operations of property performance by excluding partnership level expenses and other items not related to property operating performance.















Revenues and NOI for each reportable segment for the three- and six-month periods ended June 30, 2013 and 2012 were as follows (dollars in thousands):
 
Three months ended June 30,
 
Six months ended June 30,
 
2013
 
2012
 
2013
 
2012
Revenues
 
 
 
 
 
 
 
Large Market Same Store
$
58,142

 
$
55,111

 
$
115,421

 
$
109,043

Secondary Market Same Store
44,849

 
43,342

 
89,098

 
86,014

Non-Same Store and Other
18,133

 
8,560

 
33,993

 
13,431

Total property revenues
121,124

 
107,013

 
238,512

 
208,488

Management fee income
141

 
209

 
319

 
478

Total operating revenues
$
121,265

 
$
107,222

 
$
238,831

 
$
208,966

 
 
 
 
 
 
 
 
NOI
 

 
 

 
 

 
 

Large Market Same Store
$
34,424

 
$
32,217

 
$
69,004

 
$
63,653

Secondary Market Same Store
26,841

 
25,735

 
53,547

 
50,792

Non-Same Store and Other
12,302

 
8,110

 
23,397

 
13,890

Total NOI
73,567

 
66,062

 
145,948

 
128,335

Discontinued operations NOI included above
(1,165
)
 
(2,992
)
 
(2,518
)
 
(6,112
)
Management fee income
141

 
209

 
319

 
478

Depreciation and amortization
(29,772
)
 
(27,415
)
 
(59,506
)
 
(53,572
)
Acquisition expense
(489
)
 
(389
)
 
(499
)
 
(409
)
Property management expense
(4,282
)
 
(4,961
)
 
(9,060
)
 
(9,885
)
General and administrative expense
(2,410
)
 
(2,816
)
 
(5,300
)
 
(5,845
)
Merger related expenses
(5,737
)
 
—

 
(5,737
)
 
—

Interest and other non-property (loss) income
(5
)
 
84

 
13

 
198

Interest expense
(14,159
)
 
(12,577
)
 
(28,190
)
 
(25,253
)
(Loss) gain on debt extinguishment
(1
)
 
(15
)
 
(62
)
 
5

Amortization of deferred financing costs
(763
)
 
(753
)
 
(1,528
)
 
(1,409
)
Net casualty gain (loss) and other settlement proceeds
438

 
—

 
454

 
(9
)
Gain on sale of non-depreciable assets
—

 
(3
)
 
—

 
(3
)
Gain (loss) from real estate joint ventures
48

 
(69
)
 
102

 
(100
)
Discontinued operations
32,496

 
14,056

 
33,189

 
24,486

Net income attributable to noncontrolling interests
(160
)
 
(135
)
 
(319
)
 
(283
)
Net income available for Mid-America Apartments, L.P. common unitholders
$
47,747

 
$
28,286

 
$
67,306

 
$
50,622



Assets for each reportable segment as of June 30, 2013 and December 31, 2012, were as follows (dollars in thousands):
 
June 30, 2013
 
December 31, 2012
Assets
 
 
 
Large Market Same Store
$
1,187,218

 
$
1,108,827

Secondary Market Same Store
695,113

 
654,315

Non-Same Store and Other
678,361

 
728,209

Corporate assets
60,028

 
38,520

Total assets
$
2,620,720

 
$
2,529,871