MAA Equity

Changes in total equity and its components for the nine-month periods ended September 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	—		—		—			204,929			—			7,600			—		212,529
Other comprehensive income - derivative instruments (cash flow hedges)	—		—		—			—			(354		)	(14		)	—		(368		)
Issuance and registration of common shares	—		1		153			—			—			—			—		154
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	—		—		1,133			—			—			(1,133		)	—		—
Shares issued in exchange for redeemable stock	—		—		1,482			—			—			—			—		1,482
Redeemable stock fair market value adjustment	—		—		—			(870		)	—			—			—		(870		)
Adjustment for noncontrolling interest ownership in operating partnership	—		—		54			—			—			(54		)	—		—
Amortization of unearned compensation	—		—		8,552			(114		)	—			—			—		8,438
Dividends on preferred stock	—		—		—			(2,766		)	—			—			—		(2,766		)
Dividends on common stock ($2.61 per share)	—		—		—			(296,535		)	—			—			—		(296,535		)
Dividends on noncontrolling interest units ($2.61 per unit)	—		—		—			—			—			(10,982		)	—		(10,982		)
EQUITY BALANCE SEPTEMBER 30, 2017	$	9	$	1,134	$	7,117,829		$	(802,835	)	$	790		$	231,393		$	2,306	$	6,550,626



	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	—		—		—			172,836			—			9,508			—		182,344
Other comprehensive loss - derivative instruments (cash flow hedges)	—		—		—			—			(456		)	(25		)	—		(481		)
Issuance and registration of common shares	—		1		(739		)	—			—			—			—		(738		)
Shares repurchased and retired	—		—		(1,811		)	—			—			—			—		(1,811		)
Shares issued in exchange for common units	—		—		780			—			—			(780		)	—		—
Shares issued in exchange for redeemable stock	—		—		122			—			—			—			—		122
Redeemable stock fair market value adjustment	—		—		—			(296		)	—			—			—		(296		)
Adjustment for noncontrolling interest ownership in operating partnership	—		—		(38		)	—			—			38			—		—
Amortization of unearned compensation	—		—		6,625			—			—			—			—		6,625
Dividends on common stock ($2.46 per share)	—		—		—			(185,789		)	—			—			—		(185,789		)
Dividends on noncontrolling interest units ($2.46 per unit)	—		—		—			—			—			(10,217		)	—		(10,217		)
EQUITY BALANCE SEPTEMBER 30, 2016	$	—	$	754	$	3,632,013		$	(647,390	)	$	(2,045	)	$	164,250		$	—	$	3,147,582