XML 62 R40.htm IDEA: XBRL DOCUMENT v3.6.0.2
Segment Information (Tables)
 12 Months Ended
Dec. 31, 2016
Notes To Financial Statements [Abstract]  
Revenues and NOI for each reportable segment
Revenues and NOI for each reportable segment for the years ended December 31, 2016, 2015 and 2014 were as follows (dollars in thousands):

 
2016
 
2015
 
2014 (1)
Revenues:
 

 
 

 
 

Large Market Same Store
$
642,679

 
$
612,934

 
$
553,038

Secondary Market Same Store
337,883

 
327,700

 
310,281

Non-Same Store and Other
144,786

 
102,145

 
128,859

Total property revenues
1,125,348

 
1,042,779

 
992,178

Management fee income
—

 
—

 
154

Total operating revenues
$
1,125,348

 
$
1,042,779

 
$
992,332

 
 
 
 
 
 
NOI:
 

 
 

 
 

Large Market Same Store
$
399,287

 
$
377,025

 
$
334,255

Secondary Market Same Store
212,053

 
204,382

 
190,348

Non-Same Store and Other
90,652

 
60,727

 
74,211

Total NOI
701,992

 
642,134

 
598,814

Discontinued operations NOI included above
—

 
—

 
16

Management fee income
—

 
—

 
154

Depreciation and amortization
(322,958
)
 
(294,520
)
 
(301,812
)
Acquisition expenses
(2,928
)
 
(2,777
)
 
(2,388
)
Property management expenses
(34,093
)
 
(30,990
)
 
(32,095
)
General and administrative expenses
(29,040
)
 
(25,716
)
 
(20,909
)
Merger related expenses
(39,033
)
 
—

 
(3,152
)
Integration related costs
(1,790
)
 
—

 
(8,395
)
Interest and other non-property income (expense)
724

 
(368
)
 
770

Interest expense
(129,947
)
 
(122,344
)
 
(123,953
)
Loss on debt extinguishment/modification
(83
)
 
(3,602
)
 
(2,586
)
Net casualty gain (loss) after insurance and other settlement proceeds
448

 
473

 
(476
)
Gain on sale of depreciable real estate assets
80,397

 
189,958

 
42,649

Income tax expense
(1,699
)
 
(1,673
)
 
(2,050
)
Gain on sale of non-depreciable real estate assets
2,171

 
172

 
350

Gain (loss) from real estate joint ventures
241

 
(2
)
 
6,009

Discontinued operations
—

 
—

 
5,331

Net income attributable to noncontrolling interests
(12,180
)
 
(18,458
)
 
(8,297
)
Preferred dividends
(307
)
 
—

 
—

Net income available for MAA common shareholders
$
211,915

 
$
332,287

 
$
147,980


(1) The 2014 column shows the segment break down based on the 2015 same store portfolios. A comparison using the 2016 same store portfolio would not be comparative due to the nature of the segment classifications.
Assets for each reportable segment
Assets for each reportable segment as of December 31, 2016 and 2015 were as follows (dollars in thousands):
 
 
December 31, 2016
 
December 31, 2015
Assets
 

 
 

Large Market Same Store
$
3,945,122

 
$
4,062,595

Secondary Market Same Store
1,707,495

 
1,756,313

Non-Same Store and Other
5,722,231

 
956,336

Corporate assets
229,643

 
72,537

Total assets
$
11,604,491

 
$
6,847,781