MAA Equity

Total equity and its components for the nine-month periods ended September 30, 2015 and 2014 were as follows (dollars in thousands, except per share and per unit data):



	Mid-America Apartment Communities, Inc. Shareholders' Equity
	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, 2014	$	752	$	3,619,270		$	(729,086	)	$	(412	)	$	161,287		$	3,051,811
Net income						289,300						16,078			305,378
Other comprehensive loss - derivative instruments (cash flow hedges)									(5,894		)	(328		)	(6,222		)
Issuance and registration of common shares	2		324												326
Shares repurchased and retired	—		(957		)										(957		)
Exercise of stock options	—		420												420
Shares issued in exchange for units	—		236									(236		)	—
Redeemable stock fair market value adjustment						(614		)							(614		)
Adjustment for noncontrolling interest ownership in operating partnership			(409		)							409			—
Amortization of unearned compensation			4,950												4,950
Dividends on common stock ($2.31 per share)						(174,100		)				—			(174,100		)
Dividends on noncontrolling interest units ($2.31 per unit)												(9,671		)	(9,671		)
EQUITY BALANCE SEPTEMBER 30, 2015	$	754	$	3,623,834		$	(614,500	)	$	(6,306	)	$	167,539		$	3,171,321



	Mid-America Apartment Communities, Inc. Shareholders' Equity
	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 for redeemable stock			998											998
Redeemable stock fair market value adjustment						(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