MAA Equity

Changes in total equity and its components for the nine-month periods ended September 30, 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 Interests			Total Equity
EQUITY BALANCE DECEMBER 31, 2015	$	753	$	3,627,074		$	(634,141	)	$	(1,589	)	$	165,726		$	3,157,823
Net income	—		—			172,836			—			9,508			182,344
Other comprehensive loss - derivative instruments (cash flow hedges)	—		—			—			(456		)	(25		)	(481		)
Issuance and registration of common shares	1		(739		)	—			—			—			(738		)
Shares repurchased and retired	—		(1,811		)	—			—			—			(1,811		)
Shares issued in exchange for OP Units	—		780			—			—			(780		)	—
Shares issued in exchange from redeemable stock	—		122			—			—			—			122
Redeemable stock fair market value adjustment	—		—			(296		)	—			—			(296		)
Adjustment for noncontrolling interest ownership in operating partnership	—		(38		)	—			—			38			—
Amortization of unearned compensation	—		6,625			—			—			—			6,625
Dividends on common stock ($2.46 per share)	—		—			(185,789		)	—			—			(185,789		)
Dividends on noncontrolling interest OP Units ($2.46 per OP Unit)	—		—			—			—			(10,217		)	(10,217		)
EQUITY BALANCE SEPTEMBER 30, 2016	$	754	$	3,632,013		$	(647,390	)	$	(2,045	)	$	164,250		$	3,147,582



	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 Interests			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 OP 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 OP Units ($2.31 per OP Unit)	—		—			—			—			(9,671		)	(9,671		)
EQUITY BALANCE SEPTEMBER 30, 2015	$	754	$	3,623,834		$	(614,500	)	$	(6,306	)	$	167,539		$	3,171,321