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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues:        
Rental and other property revenues $ 452,575 $ 423,199 $ 1,314,507 $ 1,254,323
Expenses:        
Operating expenses, excluding real estate taxes and insurance 106,412 105,108 304,124 292,031
Real estate taxes and insurance 66,426 64,706 199,943 188,426
Depreciation and amortization 134,611 127,679 397,938 381,257
Total property operating expenses 307,449 297,493 902,005 861,714
Property management expenses 13,831 12,691 40,522 39,064
General and administrative expenses 12,670 11,360 38,763 35,181
Interest expense 39,234 41,010 117,773 126,610
Loss (gain) on sale of depreciable real estate assets 313 (20) (134,515) 7
Gain on sale of non-depreciable real estate assets (170) (1,366) (202) (995)
Other non-operating (income) expense (10,344) (242) (14,557) 13,647
Income before income tax expense 89,592 62,273 364,718 179,095
Income tax expense (2,803) (665) (5,847) (2,532)
Income from continuing operations before real estate joint venture activity 86,789 61,608 358,871 176,563
Income from real estate joint venture 258 428 915 1,153
Net income 87,047 62,036 359,786 177,716
Net income attributable to noncontrolling interests 2,568 2,126 11,636 6,096
Net income available for shareholders 84,479 59,910 348,150 171,620
Dividends to MAA Series I preferred shareholders 922 922 2,766 2,766
Net income available for MAA common shareholders $ 83,557 $ 58,988 $ 345,384 $ 168,854
Earnings per common share - basic:        
Net income available for MAA common shareholders $ 0.73 $ 0.52 $ 3.01 $ 1.48
Earnings per common share - diluted:        
Net income available for MAA common shareholders $ 0.73 $ 0.52 $ 3.01 $ 1.47