MAA Equity

Total equity and its components for the nine-month periods ended September 30, 2014 and 2013 were as follows (dollars in thousands, except per share and per unit data):



	Mid-America Apartment Communities, Inc. Shareholders
	Common Stock Amount		Additional Paid-In Capital			Accumulated Distributions in Excess of Net Income			Accumulated Other Comprehensive Income (Loss)		Noncontrolling Interest			Total Equity
EQUITY BALANCE DECEMBER 31, 2013	$	747	$	3,599,549		$	(653,593	)	$	108	$	166,726		$	3,113,537
Net income						113,455					6,364			119,819
Other comprehensive income - derivative instruments (cash flow hedges)									288		15			303
Issuance and registration of common shares	2		726											728
Shares repurchased and retired	—		(456		)									(456		)
Exercise of stock options	3		11,913											11,916
Shares issued in exchange for units	—		992								(992		)	—
Shares issued in exchange from redeemable stock			998											998
Redeemable stock fair market value						(286		)						(286		)
Adjustment for noncontrolling interest ownership in operating partnership			(55		)						55			—
Amortization of unearned compensation			3,180											3,180
Dividends on common stock ($2.19 per share)						(164,598		)			—			(164,598		)
Dividends on noncontrolling interest units ($2.19 per unit)											(9,209		)	(9,209		)
EQUITY BALANCE SEPTEMBER 30, 2014	$	752	$	3,616,847		$	(705,022	)	$	396	$	162,959		$	3,075,932



	Mid-America Apartment Communities, Inc. Shareholders
	Common Stock Amount		Additional Paid-In Capital			Accumulated Distributions in Excess of Net Income			Accumulated Other Comprehensive Income (Loss)			Noncontrolling Interest			Total Equity
EQUITY BALANCE DECEMBER 31, 2012	$	422	$	1,542,999		$	(603,315	)	$	(26,054	)	$	31,058		$	945,110
Net income						124,553						4,536			129,089
Other comprehensive income - derivative instruments (cash flow hedges)									21,455			739			22,194
Issuance and registration of common shares	4		25,034												25,038
Shares repurchased and retired	—		(682		)										(682		)
Shares issued in exchange for units	1		549									(550		)	—
Redeemable stock fair market value						209									209
Adjustment for noncontrolling interest ownership in operating partnership			(7,418		)							7,418			—
Amortization of unearned compensation			1,729												1,729
Dividends on common stock ($2.085 per share)						(89,109		)				—			(89,109		)
Dividends on noncontrolling interest units ($2.085 per unit)												(3,557		)	(3,557		)
EQUITY BALANCE SEPTEMBER 30, 2013	$	427	$	1,562,211		$	(567,662	)	$	(4,599	)	$	39,644		$	1,030,021