XML 49 R32.htm IDEA: XBRL DOCUMENT v3.7.0.1
Segment Information (Tables)
6 Months Ended
Jun. 30, 2017
Notes To Financial Statements [Abstract]  
Revenues and NOI for Reportable Segment
Revenues and NOI for each reportable segment for the three- and six- month periods ended June 30, 2017 and 2016 were as follows (dollars in thousands):
 
Three months ended June 30,
 
Six months ended June 30,
 
2017
 
2016
 
2017
 
2016
Revenues:
 
 
 
 
 
 
 
Large Market Same Store
$
167,712

 
$
162,487

 
$
333,971

 
$
322,679

Secondary Market Same Store
87,231

 
84,770

 
173,377

 
168,863

Non-Same Store and Other
127,848

 
24,979

 
254,351

 
49,710

Total operating revenues
$
382,791

 
$
272,236

 
$
761,699

 
$
541,252

 
 
 
 
 
 
 
 
NOI:
 

 
 

 
 

 
 

Large Market Same Store
$
104,098

 
$
101,108

 
$
208,845

 
$
200,635

Secondary Market Same Store
54,544

 
52,745

 
108,781

 
106,139

Non-Same Store and Other
78,180

 
15,428

 
156,831

 
30,642

Total NOI
236,822

 
169,281

 
474,457

 
337,416

Depreciation and amortization
(126,360
)
 
(75,742
)
 
(256,357
)
 
(150,870
)
Acquisition expenses

 
(421
)
 

 
(1,134
)
Property management expenses
(10,745
)
 
(8,310
)
 
(21,726
)
 
(17,313
)
General and administrative expenses
(9,534
)
 
(7,014
)
 
(22,374
)
 
(13,596
)
Merger related expenses
(978
)
 

 
(3,849
)
 

Integration costs
(3,229
)
 

 
(6,519
)
 

Interest and other non-property income
650

 
62

 
3,329

 
94

Interest expense
(38,481
)
 
(32,039
)
 
(75,065
)
 
(64,250
)
Gain on debt extinguishment/modification
2,217

 

 
2,340

 
3

Gain on sale of depreciable real estate assets
274

 
68

 
201

 
823

Net casualty (loss) gain after insurance and other settlement proceeds
(240
)
 
1,760

 
(331
)
 
813

Income tax expense
(618
)
 
(457
)
 
(1,269
)
 
(745
)
Gain on sale of non-depreciable real estate assets
48

 
543

 
48

 
2,170

Gain (loss) from real estate joint ventures
329

 
(101
)
 
686

 
27

Net income attributable to noncontrolling interests
(1,840
)
 
(2,486
)
 
(3,351
)
 
(4,881
)
Preferred Dividends
(922
)
 

 
(1,844
)
 

Net income available for MAA common shareholders
$
47,393

 
$
45,144

 
$
88,376

 
$
88,557

Assets for Reportable Segment
Assets for each reportable segment as of June 30, 2017 and December 31, 2016, were as follows (dollars in thousands):

 
June 30, 2017
 
December 31, 2016
Assets:
 
 
 
Large Market Same Store
$
4,060,183

 
$
4,126,885

Secondary Market Same Store
1,741,902

 
1,768,183

Non-Same Store and Other
5,550,019

 
5,479,780

Corporate assets
182,025

 
229,643

Total assets
$
11,534,129

 
$
11,604,491