XML 61 R37.htm IDEA: XBRL DOCUMENT v3.8.0.1
Segment Information (Tables)
 12 Months Ended
Dec. 31, 2017
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, 2017, 2016 and 2015 were as follows (in thousands):
 
2017
 
2016
 
2015 (1)
Revenues:
 

 
 

 
 

Large Market Same Store
$
672,131

 
$
652,560

 
$
612,934

Secondary Market Same Store
349,007

 
340,161

 
327,700

Non-Same Store and Other
507,849

 
132,627

 
102,145

Total rental and other property revenues
$
1,528,987

 
$
1,125,348

 
$
1,042,779

 
 
 
 
 
 
NOI:
 

 
 

 
 

Large Market Same Store
$
422,075

 
$
407,294

 
$
377,025

Secondary Market Same Store
218,673

 
213,273

 
204,382

Non-Same Store and Other
311,508

 
81,425

 
60,727

Total NOI
952,256

 
701,992

 
642,134

Depreciation and amortization
(493,708
)
 
(322,958
)
 
(294,520
)
Property management expenses
(43,588
)
 
(34,093
)
 
(30,990
)
General and administrative expenses
(40,194
)
 
(29,040
)
 
(25,716
)
Merger and integration expenses
(19,990
)
 
(40,823
)
 
—

Interest expense
(154,751
)
 
(129,947
)
 
(122,344
)
Gain on sale of depreciable real estate assets
127,386

 
80,397

 
189,958

Income tax expense
(2,619
)
 
(1,699
)
 
(1,673
)
Gain on sale of non-depreciable real estate assets
21

 
2,171

 
172

Other non-operating income (expense)
14,353

 
(1,839
)
 
(6,274
)
Gain (loss) from real estate joint ventures
1,370

 
241

 
(2
)
Net income attributable to noncontrolling interests
(12,157
)
 
(12,180
)
 
(18,458
)
Dividends to MAA Series I preferred shareholders
(3,688
)
 
(307
)
 
—

Net income available for MAA common shareholders
$
324,691

 
$
211,915

 
$
332,287


(1) The 2015 column shows the segment break down based on the 2016 same store portfolios. A comparison using the 2017 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, 2017 and 2016 were as follows (in thousands):
 
 
December 31, 2017
 
December 31, 2016
Assets
 

 
 

Large Market Same Store
$
4,003,859

 
$
4,126,885

Secondary Market Same Store
1,718,237

 
1,768,183

Non-Same Store and Other
5,570,003

 
5,479,780

Corporate assets
199,820

 
229,643

Total assets
$
11,491,919

 
$
11,604,491