MAA Equity

Total equity and its components for the three-month periods ended March 31, 2016 and 2015 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, 2015	$	753	$	3,627,074		$	(634,141	)	$	(1,589	)	$	165,726		$	3,157,823
Net income	—		—			43,413			—			2,395			45,808
Other comprehensive loss - derivative instruments (cash flow hedges)	—		—			—			(2,387		)	(132		)	(2,519		)
Issuance and registration of common shares	1		89			—			—			—			90
Shares repurchased and retired	—		(1,730		)	—			—			—			(1,730		)
Shares issued in exchange for units	—		33			—			—			(33		)	—
Shares issued in exchange from redeemable stock	—		123			—			—			—			123
Redeemable stock fair market value adjustment	—		—			(1,100		)	—			—			(1,100		)
Adjustment for noncontrolling interest ownership in operating partnership	—		40			—			—			(40		)	—
Amortization of unearned compensation	—		2,078			—			—			—			2,078
Dividends on common stock ($0.82 per share)	—		—			(61,928		)	—			—			(61,928		)
Dividends on noncontrolling interest units ($0.82 per unit)	—		—			—			—			(3,412		)	(3,412		)
EQUITY BALANCE MARCH 31, 2016	$	754	$	3,627,707		$	(653,756	)	$	(3,976	)	$	164,504		$	3,135,233



	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	—		—			61,267			—			3,410			64,677
Other comprehensive income - derivative instruments (cash flow hedges)	—		—			—			(2,041		)	(114		)	(2,155		)
Issuance and registration of common shares	1		7			—			—			—			8
Shares repurchased and retired	—		(937		)	—			—			—			(937		)
Shares issued in exchange for units	—		46			—			—			(46		)	—
Redeemable stock fair market value adjustment	—		—			(209		)	—			—			(209		)
Adjustment for noncontrolling interest ownership in operating partnership	—		128			—			—			(128		)	—
Amortization of unearned compensation	—		1,462			—			—			—			1,462
Dividends on common stock ($0.77 per share)	—		—			(58,034		)	—			—			(58,034		)
Dividends on noncontrolling interest units ($0.77 per unit)	—		—			—			—			(3,226		)	(3,226		)
EQUITY BALANCE MARCH 31, 2015	$	753	$	3,619,976		$	(726,062	)	$	(2,453	)	$	161,183		$	3,053,397