Derivatives and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2015

Notes To Financial Statements [Abstract]

Outstanding Interest Rate Derivatives Designated as Cash Flow Hedges of Interest Rate Risk

As of June 30, 2015, 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	6	$	165,000,000
Interest Rate Swaps	8	$	550,000,000

Fair Values of Derivative Instruments on Condensed Consolidated Balance Sheet

Tabular Disclosure of Fair Values of Derivative Instruments on the Balance Sheets

The table below presents the fair value of our derivative financial instruments as well as their classification on the Condensed Consolidated Balance Sheet as of June 30, 2015 and December 31, 2014.

Fair Values of Derivative Instruments on the Condensed Consolidated Balance Sheets as of June 30, 2015 and

December 31, 2014 (dollars in thousands)

	Asset Derivatives					Liability Derivatives
		June 30, 2015		December 31, 2014			June 30, 2015		December 31, 2014
Derivatives designated as hedging instruments	Balance Sheet Location	Fair Value		Fair Value		Balance Sheet Location	Fair Value		Fair Value
Interest rate contracts	Other assets	$	2,241	$	72	Fair market value of interest rate swaps	$	13,071	$	13,392
Total derivatives designated as hedging instruments		$	2,241	$	72		$	13,071	$	13,392
Derivatives not designated as hedging instruments
Interest rate contracts	Other assets	$	—	$	6		$	—	$	—
Total derivatives not designated as hedging instruments		$	—	$	6		$	—	$	—

Effect of Derivative Instruments on Consolidated Statement of Operations

Tabular Disclosure of the Effect of Derivative Instruments on the Statements of Operations

The table below presents the effect of our derivative financial instruments on the Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2015 and 2014.

Effect of Derivative Instruments on the Condensed Consolidated Statements of Operations for the

Three and six months ended June 30, 2015 and 2014 (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)
Three months ended June 30,	2015			2014				2015			2014				2015			2014
Interest rate contracts	$	1,804		$	(7,403	)	Interest expense	$	(1,791	)	$	(3,085	)	Interest expense	$	(12	)	$	(59	)
Total derivatives in cash flow hedging relationships	$	1,804		$	(7,403	)		$	(1,791	)	$	(3,085	)		$	(12	)	$	(59	)
Six months ended June 30,
Interest rate contracts	$	(2,543	)	$	(8,400	)	Interest expense	$	(3,983	)	$	(6,810	)	Interest expense	$	(73	)	$	(63	)
Total derivatives in cash flow hedging relationships	$	(2,543	)	$	(8,400	)		$	(3,983	)	$	(6,810	)		$	(73	)	$	(63	)
Derivatives Not Designated as Hedging Instruments
Three months ended June 30,														Location of Gain or (Loss) Recognized in Income	2015			2014
Interest rate contracts														Interest expense	$	—		$	(59	)
Total															$	—		$	(59	)
Six months ended June 30,
Interest rate contracts														Interest expense	$	(3	)	$	(128	)
Total															$	(3	)	$	(128	)

Offsetting Assets and Liabilities [Table Text Block]

The table below presents a gross presentation, the effects of offsetting, and a net presentation of our derivatives as of June 30, 2015 and December 31, 2014. The net amounts of derivative assets or liabilities can be reconciled to the Tabular Disclosure of Fair Values of Derivative Instruments above, which also provides the location that derivative assets and liabilities are presented on the Condensed Consolidated Balance Sheets (dollars in thousands):

Offsetting of Derivative Assets
As of June 30, 2015
							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	$	2,241	$	—	$	2,241	$	(350	)	$	—	$	1,891
Offsetting of Derivative Liabilities
As of June 30, 2015
							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	$	13,071	$	—	$	13,071	$	(350	)	$	—	$	12,721
Offsetting of Derivative Assets
As of December 31, 2014
							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	$	78	$	—	$	78	$	—		$	—	$	78
Offsetting of Derivative Liabilities
As of December 31, 2014
							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	$	13,392	$	—	$	13,392	$	—		$	—	$	13,392

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

Other Comprehensive Income

Our other comprehensive income consists entirely of gains and losses attributable to the effective portion of our cash flow hedges. The chart below shows the change in the balance for the six months ended June 30, 2015 and 2014 (dollars in thousands):

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 six months ended June 30,
		2015			2014
Beginning balance		$	(412	)	$	108
Other comprehensive loss before reclassifications		(2,543		)	(8,400		)
Amounts reclassified from accumulated other comprehensive income (interest rate contracts)	Interest expense	3,983			6,810
Net current-period other comprehensive (income) loss attributable to noncontrolling interest		(76		)	87
Net current-period other comprehensive income (loss) attributable to MAA		1,364			(1,503		)
Ending balance		$	952		$	(1,395	)