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Derivatives and Hedging Activities (Tables)
 9 Months Ended
Sep. 30, 2016
Notes To Financial Statements [Abstract]  
Outstanding Interest Rate Derivatives Designated as Cash Flow Hedges of Interest Rate Risk
As of September 30, 2016, 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 Amount
Interest Rate Caps
 
3
 
$
75,000,000

  Interest Rate Swaps
 
7
 
$
550,000,000
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 nine months ended September 30, 2016 and 2015.

Effect of Derivative Instruments on the Condensed Consolidated Statements of Operations for the
Three and nine months ended September 30, 2016 and 2015 (dollars in thousands)

Derivatives in Cash Flow Hedging Relationships
 
Gain or (Loss)
Recognized in 
OCI on Derivative 
(Effective Portion)
 
Gain or (Loss)
Reclassified from
Accumulated 
OCI into Interest Expense 
(Effective Portion)
 
Gain or (Loss) Recognized in Interest Expense (Ineffective
Portion and Amount
Excluded from
Effectiveness Testing)
Three months ended September 30,
 
2016
 
2015
 
2016
 
2015
 
2016
 
2015
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
 
$
1,179

 
$
(9,269
)
 
$
(1,042
)
 
$
(1,607
)
 
$
96

 
$
(44
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine months ended September 30,
 
 

 
 

 
 

 
 

 
 

 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
 
$
(3,840
)
 
$
(11,812
)
 
$
(3,359
)
 
$
(5,590
)
 
$
(67
)
 
$
(117
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives Not Designated as Hedging Instruments
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended September 30,
 
 
 
 
 
 
 
 
 
2016
 
2015
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
 
 
 
 
 
 
 
 
 
$
—

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
Nine months ended September 30,
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
 
 
 
 
 
 
 
 
 
$
—

 
$
(3
)
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]
Other Comprehensive Income

MAA's 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 nine months ended September 30, 2016 and 2015 (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 nine months ended September 30,
 
 
2016
 
2015
Beginning balance
 
 
 
$
(1,589
)
 
$
(412
)
Other comprehensive (loss) before reclassifications
 
 
 
(3,840
)
 
(11,812
)
Amounts reclassified from accumulated other comprehensive income (interest rate contracts)
 
Interest expense
 
3,359

 
5,590

Net current-period other comprehensive loss attributable to noncontrolling interests
 
 
 
25

 
328

Net current-period other comprehensive (loss) attributable to MAA
 
 
 
(456
)
 
(5,894
)
Ending balance
 
 
 
$
(2,045
)
 
$
(6,306
)