Selected Quarterly Financial Information

12 Months Ended

Dec. 31, 2013

Other Income and Expenses [Abstract]

SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

SELECTED QUARTERLY FINANCIAL INFORMATION OF MID-AMERICA APARTMENT COMMUNITIES, INC. (UNAUDITED)

On October 1, 2013, we completed our previously announced merger with Colonial. The following table sets forth selected unaudited quarterly financial information for MAA. The results of operations of Colonial are included from the closing date of the merger, October 1, 2013, through the end of our fiscal year, December 31, 2013.

(Dollars in thousands except per share data) 

	Year Ended December 31, 2013
	First			Second			Third			Fourth
Total operating revenues	$	127,920		$	131,801		$	135,406		$	239,607
Income from continuing operations before non-operating items	$	36,847		$	31,920		$	32,405		$	15,719
Interest expense	$	(15,545	)	$	(15,189	)	$	(14,923	)	$	(30,258	)
Gain from real estate joint ventures	$	54		$	47		$	60		$	177
Discontinued operations:
Income from discontinued operations before gain on sale	$	1,782		$	1,697		$	972		$	614
Gain on sale of discontinued operations	$	—		$	43,121		$	28,788		$	4,935
Consolidated net income (loss)	$	22,005		$	61,028		$	46,056		$	(9,810	)
Net income (loss) attributable to noncontrolling interest	$	825		$	1,939		$	1,772		$	(538	)
Net income (loss) available for MAA common shareholders	$	21,180		$	59,089		$	44,284		$	(9,272	)
Per share:
Net income (loss) available per common share - basic	$	0.50		$	1.38		$	1.04		$	(0.12	)
Net income (loss) available per common share - diluted	$	0.50		$	1.37		$	1.04		$	(0.12	)
Dividend paid	$	0.6950		$	0.6950		$	0.6950		$	0.6950

	Year Ended December 31, 2012
	First			Second			Third			Fourth
Total operating revenues	$	110,982		$	116,729		$	122,157		$	126,020
Income from continuing operations before non-operating items	$	28,353		$	29,482		$	30,477		$	35,592
Interest expense	$	(13,876	)	$	(13,971	)	$	(14,507	)	$	(15,583	)
Loss from real estate joint ventures	$	(31	)	$	(67	)	$	(72	)	$	(53	)
Discontinued operations:
Income from discontinued operations before gain on sale	$	2,061		$	2,051		$	1,046		$	1,780
Gain on sale of discontinued operations	$	9,429		$	12,953		$	16,092		$	3,161
Consolidated net income	$	25,068		$	29,472		$	32,078		$	23,207
Net income attributable to noncontrolling interest	$	1,178		$	1,312		$	1,212		$	900
Net income available for MAA common shareholders	$	23,890		$	28,160		$	30,866		$	22,307
Per share:
Net income available per common share - basic	$	0.60		$	0.69		$	0.74		$	0.53
Net income available per common share - diluted	$	0.60		$	0.69		$	0.74		$	0.53
Dividend paid	$	0.6600		$	0.6600		$	0.6600		$	0.6600

Some of the financial data in the tables above differ from the values as originally reported in their respective Form 10-Qs or Form 10-Ks due to the reclassification of certain properties into discontinued operations.

22.    SELECTED QUARTERLY FINANCIAL INFORMATION OF MID-AMERICA APARTMENTS, L.P. (UNAUDITED)

On October 1, 2013, we completed our previously announced merger with Colonial. The following table sets forth selected unaudited quarterly financial information for MAALP. The results of operations of Colonial are included from the closing date of the merger, October 1, 2013, through the end of our fiscal year, December 31, 2013.

(Dollars in thousands except per unit data)

	Year Ended December 31, 2013
	First			Second			Third			Fourth
Total operating revenues	$	127,920		$	131,801		$	135,406		$	239,607
Income from continuing operations before non-operating items	$	36,847		$	31,920		$	32,405		$	15,719
Interest expense	$	(15,545	)	$	(15,189	)	$	(14,923	)	$	(30,258	)
Gain from real estate joint ventures	$	54		$	47		$	60		$	177
Discontinued operations:
Income from discontinued operations before gain on sale	$	1,570		$	1,511		$	973		$	600
Gain on sale of discontinued operations	$	—		$	31,779		$	28,806		$	4,935
Net income (loss) available for common unitholders	$	21,793		$	49,500		$	46,075		$	(9,824	)
Per unit:
Net income (loss) available per common unit - basic	$	0.49		$	1.12		$	1.04		$	(0.12	)
Net income (loss) available per common unit - diluted	$	0.49		$	1.12		$	1.04		$	(0.12	)
Distribution paid	$	0.6950		$	0.6950		$	0.6950		$	0.6950

	Year Ended December 31, 2012
	First			Second			Third			Fourth
Total operating revenues	$	110,982		$	116,729		$	122,157		$	126,020
Income from continuing operations before non-operating items	$	28,353		$	29,482		$	30,477		$	35,592
Interest expense	$	(13,876	)	$	(13,971	)	$	(14,507	)	$	(15,583	)
Loss from real estate joint ventures	$	(31	)	$	(67	)	$	(72	)	$	(53	)
Discontinued operations:
Income from discontinued operations before gain on sale	$	1,874		$	1,863		$	850		$	1,566
Gain on sale of discontinued operations	$	9,429		$	12,953		$	16,092		$	3,161
Net income available for common unitholders	$	24,881		$	29,284		$	31,882		$	22,993
Per unit:
Net income available per common unit - basic	$	0.60		$	0.69		$	0.75		$	0.52
Net income available per common unit - diluted	$	0.60		$	0.69		$	0.75		$	0.52
Distribution paid	$	0.6600		$	0.6600		$	0.6600		$	0.6600

Some of the financial data in the tables above differ from the values as originally reported in their respective Form 10-Qs or Form 10-Ks due to the reclassification of certain properties into discontinued operations.