MAA Equity

Changes in total equity and its components for the six-month periods ended June 30, 2017 and 2016 were as follows (dollars in thousands, except per share and per unit data):



	Mid-America Apartment Communities, Inc. Shareholders' Equity
	Preferred Stock Amount		Common Stock Amount		Additional Paid-In Capital			Accumulated Distributions in Excess of Net Income			Accumulated Other Comprehensive Income (Loss)			Noncontrolling Interest Operating Partnership			Noncontrolling Interest - Consolidated Real Estate Entity		Total Equity
EQUITY BALANCE DECEMBER 31, 2016	$	9	$	1,133	$	7,109,012		$	(707,479	)	$	1,144		$	235,976		$	2,306	$	6,642,101
Net income attributable to controlling interest	—		—		—			90,220			—			3,351			—		93,571
Other comprehensive income - derivative instruments (cash flow hedges)	—		—		—			—			(409		)	(16		)	—		(425		)
Issuance and registration of common shares	—		1		15			—			—			—			—		16
Issuance and registration of preferred shares	—		—		2,007			—			—			—			—		2,007
Shares repurchased and retired	—		—		(4,782		)	—			—			—			—		(4,782		)
Exercise of stock options	—		—		218			—			—			—			—		218
Shares issued in exchange for common units	—		—		265			—			—			(265		)	—		—
Shares issued in exchange for redeemable stock	—		—		1,482			—			—			—			—		1,482
Redeemable stock fair market value adjustment	—		—		—			(719		)	—			—			—		(719		)
Adjustment for noncontrolling interest ownership in operating partnership	—		—		123			—			—			(123		)	—		—
Amortization of unearned compensation	—		—		5,739			(114		)	—			—			—		5,625
Dividends on preferred stock	—		—		—			(1,844		)	—			—			—		(1,844		)
Dividends on common stock ($1.74 per share)	—		—		—			(197,680		)	—			—			—		(197,680		)
Dividends on noncontrolling interest units ($1.74 per unit)	—		—		—			—			—			(7,328		)	—		(7,328		)
EQUITY BALANCE JUNE 30, 2017	$	9	$	1,134	$	7,114,079		$	(817,616	)	$	735		$	231,595		$	2,306	$	6,532,242



	Mid-America Apartment Communities, Inc. Shareholders' Equity
	Preferred Stock Amount		Common Stock Amount		Additional Paid-In Capital			Accumulated Distributions in Excess of Net Income			Accumulated Other Comprehensive Income (Loss)			Noncontrolling Interest Operating Partnership			Noncontrolling Interest - Consolidated Real Estate Entity		Total Equity
EQUITY BALANCE DECEMBER 31, 2015	$	—	$	753	$	3,627,074		$	(634,141	)	$	(1,589	)	$	165,726		$	—	$	3,157,823
Net income attributable to controlling interest	—		—		—			88,557			—			4,881			—		93,438
Other comprehensive loss - derivative instruments (cash flow hedges)	—		—		—			—			(2,561		)	(141		)	—		(2,702		)
Issuance and registration of common shares	—		1		185			—			—			—			—		186
Shares repurchased and retired	—		—		(1,742		)	—			—			—			—		(1,742		)
Shares issued in exchange for common units	—		—		158			—			—			(158		)	—		—
Shares issued in exchange for redeemable stock	—		—		123			—			—			—			—		123
Redeemable stock fair market value adjustment	—		—		—			(1,518		)	—			—			—		(1,518		)
Adjustment for noncontrolling interest ownership in operating partnership	—		—		(87		)	—			—			87			—		—
Amortization of unearned compensation	—		—		4,383			—			—			—			—		4,383
Dividends on common stock ($1.64 per share)	—		—		—			(123,852		)	—			—			—		(123,852		)
Dividends on noncontrolling interest units ($1.64 per unit)	—		—		—			—			—			(6,820		)	—		(6,820		)
EQUITY BALANCE JUNE 30, 2016	$	—	$	754	$	3,630,094		$	(670,954	)	$	(4,150	)	$	163,575		$	—	$	3,119,319