Changes in MAALP’s total capital and its components for the three months ended September 30, 2021 and 2020 were as follows (dollars in thousands):


	Mid-America Apartments, L.P. Unitholders’ Capital
	Limited Partners			General Partner			Preferred Units			Accumulated Other Comprehensive Loss			Noncontrolling Interests - Consolidated Real Estate Entities		Total Partnership Capital
CAPITAL BALANCE JUNE 30, 2021	$	185,340		$	5,863,795		$	66,840		$	(11,939	)	$	16,612	$	6,120,648
Net income		2,568			83,557			922			—			—		87,047
Other comprehensive income - derivative instruments		—			—			—			278			—		278
Issuance of units		—			(103	)		—			—			—		(103	)
Exercise of unit options		—			12			—			—			—		12
General partnership units issued in exchange for limited partnership units		(11,108	)		11,108			—			—			—		—
Redeemable units fair market value adjustment		—			(2,356	)		—			—			—		(2,356	)
Adjustment for limited partners’ capital at redemption value		52			(52	)		—			—			—		—
Amortization of unearned compensation		—			4,007			—			—			—		4,007
Distributions to preferred unitholders		—			—			(922	)		—			—		(922	)
Distributions to common unitholders ($1.025 per unit)		(3,486	)		(118,018	)		—			—			—		(121,504	)
Contribution from noncontrolling interest		—			—			—			—			3,204		3,204
CAPITAL BALANCE SEPTEMBER 30, 2021	$	173,366		$	5,841,950		$	66,840		$	(11,661	)	$	19,816	$	6,090,311


	Mid-America Apartments, L.P. Unitholders’ Capital
	Limited Partners			General Partner			Preferred Units			Accumulated Other Comprehensive Loss			Noncontrolling Interests - Consolidated Real Estate Entities		Total Partnership Capital
CAPITAL BALANCE JUNE 30, 2020	$	209,894		$	5,901,028		$	66,840		$	(13,053	)	$	6,849	$	6,171,558
Net income		2,126			58,988			922			—			—		62,036
Other comprehensive income - derivative instruments		—			—			—			279			—		279
Issuance of units		—			33			—			—			—		33
General partnership units issued in exchange for limited partnership units		(21	)		21			—			—			—		—
Redeemable units fair market value adjustment		—			(155	)		—			—			—		(155	)
Adjustment for limited partners’ capital at redemption value		(61	)		61			—			—			—		—
Amortization of unearned compensation		—			4,380			—			—			—		4,380
Distributions to preferred unitholders		—			—			(922	)		—			—		(922	)
Distributions to common unitholders ($1.000 per unit)		(3,866	)		(114,369	)		—			—			—		(118,235	)
Contribution from noncontrolling interest		—			—			—			—			262		262
CAPITAL BALANCE SEPTEMBER 30, 2020	$	208,072		$	5,849,987		$	66,840		$	(12,774	)	$	7,111	$	6,119,236

Changes in MAALP’s total capital and its components for the nine months ended September 30, 2021 and 2020 were as follows (dollars in thousands):


	Mid-America Apartments, L.P. Unitholders’ Capital
	Limited Partners			General Partner			Preferred Units			Accumulated Other Comprehensive Loss			Noncontrolling Interests - Consolidated Real Estate Entities		Total Partnership Capital
CAPITAL BALANCE DECEMBER 31, 2020	$	206,927		$	5,817,270		$	66,840		$	(12,496	)	$	9,848	$	6,088,389
Net income		11,636			345,384			2,766			—			—		359,786
Other comprehensive income - derivative instruments		—			—			—			835			—		835
Issuance of units		—			(436	)		—			—			—		(436	)
Units repurchased and retired		—			(9,043	)		—			—			—		(9,043	)
Exercise of unit options		—			1,478			—			—			—		1,478
General partnership units issued in exchange for limited partnership units		(33,272	)		33,272			—			—			—		—
Redeemable units fair market value adjustment		—			(7,545	)		—			—			—		(7,545	)
Adjustment for limited partners’ capital at redemption value		(587	)		587			—			—			—		—
Amortization of unearned compensation		—			14,151			—			—			—		14,151
Distributions to preferred unitholders		—			—			(2,766	)		—			—		(2,766	)
Distributions to common unitholders ($3.075 per unit)		(11,338	)		(353,168	)		—			—			—		(364,506	)
Contribution from noncontrolling interest		—			—			—			—			9,968		9,968
CAPITAL BALANCE SEPTEMBER 30, 2021	$	173,366		$	5,841,950		$	66,840		$	(11,661	)	$	19,816	$	6,090,311


	Mid-America Apartments, L.P. Unitholders’ Capital
	Limited Partners			General Partner			Preferred Units			Accumulated Other Comprehensive Loss			Noncontrolling Interests - Consolidated Real Estate Entities		Total Partnership Capital
CAPITAL BALANCE DECEMBER 31, 2019	$	214,647		$	6,015,290		$	66,840		$	(13,584	)	$	6,247	$	6,289,440
Net income		6,096			168,854			2,766			—			—		177,716
Other comprehensive income - derivative instruments		—			—			—			810			—		810
Issuance of units		—			(344	)		—			—			—		(344	)
Units repurchased and retired		—			(5,657	)		—			—			—		(5,657	)
Exercise of unit options		—			71			—			—			—		71
General partnership units issued in exchange for limited partnership units		(471	)		471			—			—			—		—
Redeemable units fair market value adjustment		—			1,659			—			—			—		1,659
Adjustment for limited partners’ capital at redemption value		(216	)		216			—			—			—		—
Amortization of unearned compensation		—			12,533			—			—			—		12,533
Distributions to preferred unitholders		—			—			(2,766	)		—			—		(2,766	)
Distributions to common unitholders ($3.000 per unit)		(11,984	)		(343,106	)		—			—			—		(355,090	)
Contribution from noncontrolling interest		—			—			—			—			864		864
CAPITAL BALANCE SEPTEMBER 30, 2020	$	208,072		$	5,849,987		$	66,840		$	(12,774	)	$	7,111	$	6,119,236