MAA Equity

Changes in total equity and its components for the three months ended March 31, 2019 and 2018 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 Interests - Consolidated Real Estate Entities		Total Equity
EQUITY BALANCE DECEMBER 31, 2018	$	9	$	1,136	$	7,138,170		$	(989,263	)	$	(212	)	$	220,043		$	2,306	$	6,372,189
Net income	—		—		—			63,660			—			2,298			—		65,958
Other comprehensive income - derivative instruments	—		—		—			—			(3,088		)	(113		)	—		(3,201		)
Issuance and registration of common shares	—		1		1,128			—			—			—			—		1,129
Shares repurchased and retired	—		—		(3,023		)	—			—			—			—		(3,023		)
Exercise of stock options	—		—		208			—			—			—			—		208
Shares issued in exchange for common units	—		—		336			—			—			(336		)	—		—
Redeemable stock fair market value adjustment	—		—		—			(1,351		)	—			—			—		(1,351		)
Adjustment for noncontrolling interests in Operating Partnership	—		—		(60		)	—			—			60			—		—
Amortization of unearned compensation	—		—		4,785			—			—			—			—		4,785
Dividends on preferred stock	—		—		—			(922		)	—			—			—		(922		)
Dividends on common stock ($0.9600 per share)	—		—		—			(109,392		)	—			—			—		(109,392		)
Dividends on noncontrolling interests units ($0.9600 per unit)	—		—		—			—			—			(3,941		)	—		(3,941		)
Contribution from noncontrolling interest	—		—		—			—			—			—			2,860		2,860
EQUITY BALANCE MARCH 31, 2019	$	9	$	1,137	$	7,141,544		$	(1,037,268	)	$	(3,300	)	$	218,011		$	5,166	$	6,325,299



	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 Interests - Consolidated Real Estate Entities		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	—		—		—			49,019			—		1,801			—		50,820
Other comprehensive loss - derivative instruments	—		—		—			—			610		29			—		639
Issuance and registration of common shares	—		1		104			—			—		—			—		105
Shares repurchased and retired	—		—		(2,912		)	—			—		—			—		(2,912		)
Exercise of stock options	—		—		625			—			—		—					625
Shares issued in exchange for common units	—		—		2,780			—			—		(2,780		)	—		—
Shares issued in exchange for redeemable stock	—				1,915			—			—		—			—		1,915
Redeemable stock fair market value adjustment	—		—		—			965			—		—			—		965
Adjustment for noncontrolling interests in Operating Partnership	—		—		92			—			—		(92		)	—		—
Cumulative adjustment due to adoption of ASU 2017-12					—			(233		)	233		—					—
Amortization of unearned compensation	—		—		4,024			—			—		—			—		4,024
Dividends on preferred stock	—		—		—			(922		)	—		—			—		(922		)
Dividends on common stock ($0.9225 per share)	—		—		—			(104,971		)	—		—			—		(104,971		)
Dividends on noncontrolling interests units ($0.9225 per unit)	—		—		—			—			—		(3,819		)	—		(3,819		)
EQUITY BALANCE MARCH 31, 2018	$	9	$	1,135	$	7,127,740		$	(840,642	)	$	3,000	$	226,815		$	2,306	$	6,520,363