Selected Quarterly Financial Information

12 Months Ended

Dec. 31, 2015

Selected Quarterly Financial Information [Abstract]

SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

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

(Dollars in thousands except per share data) 

	Year Ended December 31, 2015
	First				Second				Third				Fourth
Total operating revenues	$	258,552			$	258,891			$	261,998			$	263,337
Income from continuing operations before non-operating items	$	69,393			$	68,837			$	73,138			$	76,763
Interest expense	$	(30,848	)	(1)	$	(30,433	)	(1)	$	(30,229	)	(1)	$	(30,834	)	(1)
Gain (loss) from real estate joint ventures	$	19			$	(23	)		$	(1	)		$	3
Discontinued operations:
Income from discontinued operations before gain (loss) on sale	$	—			$	—			$	—			$	—
Gain on sale of discontinued operations	$	—			$	—			$	—			$	—
Consolidated net income	$	64,677			$	143,873			$	96,828			$	45,367
Net income attributable to noncontrolling interest	$	3,410			$	7,574			$	5,094			$	2,380
Net income available for MAA common shareholders	$	61,267			$	136,299			$	91,734			$	42,987
Per share:
Net income available per common share - basic	$	0.81			$	1.81			$	1.22			$	0.57
Net income available per common share - diluted	$	0.81			$	1.81			$	1.22			$	0.57
Dividend paid	$	0.77			$	0.77			$	0.77			$	0.77

	Year Ended December 31, 2014
	First				Second				Third				Fourth
Total operating revenues	$	244,234			$	245,305			$	249,574			$	253,219
Income from continuing operations before non-operating items	$	39,311			$	58,092			$	64,039			$	68,791
Interest expense	$	(31,987	)	(1)	$	(31,337	)	(1)	$	(29,251	)	(1)	$	(31,378	)	(1)
(Loss) gain from real estate joint ventures	$	(24	)		$	2,919			$	3,124			$	(10	)
Discontinued operations:
Loss from discontinued operations before gain on sale	$	(47	)		$	(4	)		$	(8	)		$	(4	)
Gain on sale of discontinued operations	$	5,481			$	—			$	(103	)		$	16
Consolidated net income	$	15,714			$	33,386			$	70,719			$	36,458
Net income attributable to noncontrolling interest	$	848			$	1,773			$	3,743			$	1,933
Net income available for MAA common shareholders	$	14,866			$	31,613			$	66,976			$	34,525
Per share:
Net income available per common share - basic	$	0.20			$	0.42			$	0.89			$	0.46
Net income available per common share - diluted	$	0.20			$	0.42			$	0.89			$	0.46
Dividend paid	$	0.73			$	0.73			$	0.73			$	0.73

⁽¹⁾ Includes Amortization of Deferred Financing Costs, previously presented separately.

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

(Dollars in thousands except per unit data)

	Year Ended December 31, 2015
	First				Second				Third				Fourth
Total operating revenues	$	258,552			$	258,891			$	261,998			$	263,337
Income from continuing operations before non-operating items	$	69,393			$	68,837			$	73,138			$	76,763
Interest expense	$	(30,848	)	(1)	$	(30,433	)	(1)	$	(30,229	)	(1)	$	(30,834	)	(1)
Gain (loss) from real estate joint ventures	$	19			$	(23	)		$	(1	)		$	3
Discontinued operations:
Income from discontinued operations before gain (loss) on sale	$	—			$	—			$	—			$	—
Gain on sale of discontinued operations	$	—			$	—			$	—			$	—
Net income available for common unitholders	$	64,677			$	143,873			$	96,828			$	45,367
Per unit:
Net income available per common unit - basic	$	0.81			$	1.81			$	1.22			$	0.57
Net income available per common unit - diluted	$	0.81			$	1.81			$	1.22			$	0.57
Distribution paid	$	0.77			$	0.77			$	0.77			$	0.77

	Year Ended December 31, 2014
	First				Second				Third				Fourth
Total operating revenues	$	244,234			$	245,305			$	249,574			$	253,219
Income from continuing operations before non-operating items	$	39,311			$	58,092			$	64,039			$	68,791
Interest expense	$	(31,987	)	(1)	$	(31,337	)	(1)	$	(29,251	)	(1)	$	(31,378	)	(1)
(Loss) gain from real estate joint ventures	$	(24	)		$	2,919			$	3,124			$	(10	)
Discontinued operations:
Loss from discontinued operations before gain on sale	$	(47	)		$	(4	)		$	(8	)		$	(4	)
Gain on sale of discontinued operations	$	5,481			$	—			$	(103	)		$	16
Net income available for common unitholders	$	15,714			$	33,386			$	70,719			$	36,458
Per unit:
Net income available per common unit - basic	$	0.20			$	0.42			$	0.89			$	0.46
Net income available per common unit - diluted	$	0.20			$	0.42			$	0.89			$	0.46
Distribution paid	$	0.73			$	0.73			$	0.73			$	0.73

⁽¹⁾ Includes Amortization of Deferred Financing Costs, previously presented separately.