Derivatives and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2013

Derivative

Outstanding Interest Rate Derivatives

As of December 31, 2013, we had the following outstanding interest rate derivatives that were not designated as hedges:

Interest Rate Derivative	Number of Instruments	Notional
Interest Rate Caps	11	$63,820,000

As of December 31, 2013, 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	12	$224,631,000
Interest Rate Swaps	18	$769,000,000

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, 2013 and December 31, 2012, respectively (dollars in thousands):

	Asset Derivatives					Liability Derivatives
		12/31/2013		12/31/2012			12/31/2013		12/31/2012
Derivatives designated as hedging instruments	Balance Sheet Location	Fair Value		Fair Value		Balance Sheet Location	Fair Value		Fair Value
Interest rate contracts	Other assets	$	396	$	245	Fair market value of interest rate swaps	$	20,015	$	21,423
Total derivatives designated as hedging instruments		$	396	$	245		$	20,015	$	21,423
Derivatives not designated as hedging instruments
Interest rate contracts	Other assets	$	49	$	43		$	—	$	—
Total derivatives not designated as hedging instruments		$	49	$	43		$	—	$	—

Offsetting of Derivative Assets
As of December 31, 2013
						Gross Amounts Not Offset in the Statement of Financial Position
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Position	Net Amounts of Assets presented in the Statement of Financial Position		Financial Instruments	Cash Collateral Received	Net Amount
Derivatives	$	444	—	$	444		—	$	444
Offsetting of Derivative Liabilities
As of December 31, 2013
						Gross Amounts Not Offset in the Statement of Financial Position
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Position	Net Amounts of Liabilities presented in the Statement of Financial Position		Financial Instruments	Cash Collateral Posted	Net Amount
Derivatives	$	20,015	—	$	20,015		—	$	20,015
Offsetting of Derivative Assets
As of December 31, 2012
						Gross Amounts Not Offset in the Statement of Financial Position
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Position	Net Amounts of Assets presented in the Statement of Financial Position		Financial Instruments	Cash Collateral Received	Net Amount
Derivatives	$	288	—	$	288	—	—	$	288
Offsetting of Derivative Liabilities
As of December 31, 2012
						Gross Amounts Not Offset in the Statement of Financial Position
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Position	Net Amounts of Liabilities presented in the Statement of Financial Position		Financial Instruments	Cash Collateral Posted	Net Amount
Derivatives	$	21,423	—	$	21,423	—	—	$	21,423

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, 2013, 2012 and 2011, 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,	2013		2012			2011				2013			2012			2011				2013		2012			2011
Interest rate contracts	$	10,684	$	(8,411	)	$	(14,012	)	Interest expense	$	(16,370	)	$	(20,113	)	$	(27,639	)	Interest expense	$	37	$	(39	)	$	(195	)
Total derivatives in cash flow hedging relationships	$	10,684	$	(8,411	)	$	(14,012	)		$	(16,370	)	$	(20,113	)	$	(27,639	)		$	37	$	(39	)	$	(195	)

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,		2013			2012			2011
Interest rate products	Interest income/(expense)	$	(16	)	$	(66	)	$	(24	)
Total		$	(16	)	$	(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, 2013, 2012, and 2011:

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,		2013			2012			2011
Beginning balance		$	(26,054	)	$	(35,848	)	$	(48,847	)
Other comprehensive income before reclassifications		10,684			(8,411		)	(14,012		)
Amounts reclassified from accumulated other comprehensive income (interest rate contracts)	Interest (income)/expense	16,370			20,113			27,639
Net current-period other comprehensive income attributable to noncontrolling interest		(892		)	(1,908		)	(628		)
Net current-period other comprehensive income attributable to MAA		26,162			9,794			12,999
Ending balance		$	108		$	(26,054	)	$	(35,848	)