MAALP Capital (Tables)

9 Months Ended

Sep. 30, 2021

M A A L P Capital [Abstract]

Summary of Changes in Total Capital and its Components

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