MAA Equity

Changes in total equity and its components for the six months ended June 30, 2018 and 2017 were as follows (dollars in thousands):



	Mid-America Apartment Communities, Inc. Shareholders' Equity
	Preferred Stock		Common Stock		Additional Paid-In Capital			Accumulated Distributions in Excess of Net Income			Accumulated Other Comprehensive Income		Noncontrolling Interests - Operating Partnership			Noncontrolling Interest - Consolidated Real Estate Entity		Total Equity
EQUITY BALANCE DECEMBER 31, 2017	$	9	$	1,134	$	7,121,112		$	(784,500	)	$	2,157	$	231,676		$	2,306	$	6,573,894
Net income attributable to controlling interests	—		—		—			108,826			—		3,975			—		112,801
Other comprehensive income - derivative instruments	—		—		—			—			5,596		208			—		5,804
Issuance and registration of common shares	—		1		(237		)	—			—		—			—		(236		)
Shares repurchased and retired	—		—		(2,912		)	—			—		—			—		(2,912		)
Exercise of stock options	—		—		625			—			—		—			—		625
Shares issued in exchange for common units	—		1		3,117			—			—		(3,118		)	—		—
Shares issued in exchange for redeemable stock	—		—		1,915			—			—		—			—		1,915
Redeemable stock fair market value adjustment	—		—		—			73			—		—			—		73
Adjustment for noncontrolling interests in Operating Partnership	—		—		295			—			—		(295		)	—		—
Cumulative adjustment due to adoption of ASU 2017-12	—		—		—			(233		)	233		—			—		—
Amortization of unearned compensation	—		—		6,987			—			—		—			—		6,987
Dividends on preferred stock	—		—		—			(1,844		)	—		—			—		(1,844		)
Dividends on common stock	—		—		—			(209,994		)	—		—			—		(209,994		)
Dividends on noncontrolling interests units	—		—		—			—			—		(7,633		)	—		(7,633		)
EQUITY BALANCE JUNE 30, 2018	$	9	$	1,136	$	7,130,902		$	(887,672	)	$	7,986	$	224,813		$	2,306	$	6,479,480



	Mid-America Apartment Communities, Inc. Shareholders' Equity
	Preferred Stock		Common Stock		Additional Paid-In Capital			Accumulated Distributions in Excess of Net Income			Accumulated Other Comprehensive Income			Noncontrolling Interests - 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 interests	—		—		—			90,220			—			3,351			—		93,571
Other comprehensive loss - derivative instruments	—		—		—			—			(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 interests 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	—		—		—			(197,680		)	—			—			—		(197,680		)
Dividends on noncontrolling interests units	—		—		—			—			—			(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