XML 54 R35.htm IDEA: XBRL DOCUMENT v3.10.0.1
Segment Information (Tables)
12 Months Ended
Dec. 31, 2018
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, 2018, 2017 and 2016 were as follows (in thousands):
 
2018
 
2017
 
2016 (1)
Revenues:
 

 
 

 
 

Same Store
 
 
 
 
 
Rental revenues
$
1,340,914

 
$
1,313,836

 
$
909,688

Reimbursable property revenues
89,281

 
88,774

 
74,814

Other property revenues
11,616

 
12,229

 
8,219

Total Same Store revenues
$
1,441,811

 
$
1,414,839

 
$
992,721

Non-Same Store and Other
 
 
 
 
 
Rental revenues
$
123,112

 
$
105,865

 
$
121,964

Reimbursable property revenues
5,483

 
5,282

 
8,733

Other property revenues
940

 
3,001

 
1,930

Total Non-Same Store and Other revenues
$
129,535

 
$
114,148

 
$
132,627

Total rental and other property revenues
$
1,571,346

 
$
1,528,987

 
$
1,125,348

 
 
 
 
 
 
Net Operating Income:
 
 
 
 
 
Same Store NOI
$
905,756

 
$
889,176

 
$
620,567

Non-Same Store and Other NOI
71,002

 
63,080

 
81,425

Total NOI
976,758

 
952,256

 
701,992

Depreciation and amortization
(489,759
)
 
(493,708
)
 
(322,958
)
Property management expenses
(47,633
)
 
(43,588
)
 
(34,093
)
General and administrative expenses
(34,786
)
 
(40,194
)
 
(29,040
)
Merger and integration expenses
(9,112
)
 
(19,990
)
 
(40,823
)
Interest expense
(173,594
)
 
(154,751
)
 
(129,947
)
(Loss) gain on sale of depreciable real estate assets
(39
)
 
127,386

 
80,397

Gain on sale of non-depreciable real estate assets
4,532

 
21

 
2,171

Other non-operating income (expense)
5,434

 
14,353

 
(1,839
)
Income tax expense
(2,611
)
 
(2,619
)
 
(1,699
)
Income from real estate joint ventures
1,832

 
1,370

 
241

Net income attributable to noncontrolling interests
(8,123
)
 
(12,157
)
 
(12,180
)
Dividends to MAA Series I preferred shareholders
(3,688
)
 
(3,688
)
 
(307
)
Net income available for MAA common shareholders
$
219,211

 
$
324,691

 
$
211,915

(1) The 2016 column shows the segment break down based on the 2017 Same Store portfolio. A comparison using the 2018 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, 2018 and 2017 were as follows (in thousands):
 
December 31, 2018
 
December 31, 2017
Assets:
 

 
 

Same Store
$
9,589,141

 
$
9,864,321

Non-Same Store and Other
1,565,480

 
1,427,778

Corporate assets
169,160

 
199,820

Total assets
$
11,323,781

 
$
11,491,919