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Derivatives and Hedging Activities (Tables)
 6 Months Ended
Jun. 30, 2017
Notes To Financial Statements [Abstract]  
Outstanding Interest Rate Derivatives Designated as Cash Flow Hedges of Interest Rate Risk
As of June 30, 2017, 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
 
2
 
$
50,000,000

  Interest Rate Swaps
 
10
 
$
550,000,000
Effect of Derivative Instruments on Consolidated Statement of Operations
Tabular Disclosure of the Effect of Derivative Instruments on the Condensed Consolidated 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 six months ended June 30, 2017 and 2016 (dollars in thousands):
Derivatives in Cash Flow Hedging Relationships
 
Amount of Gain or (Loss)
Recognized in 
OCI on Derivative 
(Effective Portion)
 
Location of Gain or
(Loss) Reclassified 
from Accumulated
OCI into Income
(Effective Portion)
 
Amount of (Loss)
Reclassified from
Accumulated 
OCI into Interest Expense 
(Effective Portion)
 
Location of 
(Loss) Recognized in
Income on Derivative
(Ineffective Portion and
Amount Excluded from
Effectiveness Testing)
 
Amount of (Loss) Recognized in Interest Expense (Ineffective
Portion and Amount
Excluded from
Effectiveness  Testing)
Three months ended June 30,
 
2017
 
2016
 
 
 
2017
 
2016
 
 
 
2017
 
2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
 
$
(3,863
)
 
$
(1,314
)
 
Interest Expense
 
$
(246
)
 
$
(1,131
)
 
Interest Expense
 
$
(11
)
 
$
(120
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Six months ended June 30,
 
 

 
 

 
 
 
 

 
 

 
 
 
 

 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
 
$
(1,343
)
 
$
(5,019
)
 
Interest Expense
 
$
(918
)
 
$
(2,317
)
 
Interest Expense
 
$
(14
)
 
$
(163
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives Not Designated as Hedging Instruments
 
 
 
 
 
 
 
 
 
 
 
Location of Loss Recognized in Income on Derivative
 
Amount of Loss Recognized in Income on Derivative
Three months ended June 30,
 
 
 
 
 
 
 
 
 
 
 
 
 
2017
 
2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Preferred stock embedded derivative
 
 
 
 
 
 
 
 
 
 
 
Interest and other non-property income
 
$
(633
)
 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Six months ended June 30,
 
 

 
 

 
 
 
 

 
 

 
 
 
 

 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Preferred stock embedded derivative
 
 
 
 
 
 
 
 
 
 
 
Interest and other non-property income
 
$
1,720

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 six months ended June 30, 2017 and 2016 (dollars in thousands):
Changes in Accumulated Other Comprehensive Income (Loss) by Component
 
 
Affected Line Item in the Condensed Consolidated Statements Of Operations
 
Gains and Losses on Cash Flow Hedges
For the six months ended June 30,
 
 
2017
 
2016
Beginning balance
 
 
 
$
1,144

 
$
(1,589
)
Other comprehensive income (loss) before reclassifications
 
 
 
(1,343
)
 
(5,019
)
Amounts reclassified from accumulated other comprehensive income (interest rate contracts)
 
Interest expense
 
918

 
2,317

Net current-period other comprehensive (loss) income attributable to noncontrolling interests
 
 
 
16

 
141

Net current-period other comprehensive income (loss) attributable to MAA
 
 
 
(409
)
 
(2,561
)
Ending balance
 
 
 
$
735

 
$
(4,150
)