Changes in MAA’s total equity and its components for the three months ended March 31, 2022 and 2021 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 Loss			Noncontrolling Interests - Operating Partnership			Noncontrolling Interests - Consolidated Real Estate Entities			Total Equity
EQUITY BALANCE DECEMBER 31, 2021	$	9	$	1,151	$	7,230,956		$	(1,255,807	)	$	(11,132	)	$	165,116		$	23,614		$	6,153,907
Net income (loss)		—		—		—			110,802			—			3,068			(293	)		113,577
Other comprehensive income - derivative instruments		—		—		—			—			272			7			—			279
Issuance and registration of common shares		—		—		21			—			—			—			—			21
Shares repurchased and retired		—		—		(3,162	)		—			—			—			—			(3,162	)
Exercise of stock options		—		—		28			—			—			—			—			28
Shares issued in exchange for common units		—		—		193			—			—			(193	)		—			—
Redeemable stock fair market value adjustment		—		—		—			2,533			—			—			—			2,533
Adjustment for noncontrolling interests in Operating Partnership		—		—		953			—			—			(953	)		—			—
Amortization of unearned compensation		—		—		6,928			—			—			—			—			6,928
Dividends on preferred stock		—		—		—			(922	)		—			—			—			(922	)
Dividends on common stock ($1.0875 per share)		—		—		—			(125,433	)		—			—			—			(125,433	)
Dividends on noncontrolling interests units ($1.0875 per share)		—		—		—			—			—			(3,479	)		—			(3,479	)
Acquisition of noncontrolling interest		—		—		(37,443	)		—			—			—			(5,627	)		(43,070	)
Contribution from noncontrolling interest		—		—		—			—			—			—			2,155			2,155
EQUITY BALANCE MARCH 31, 2022	$	9	$	1,151	$	7,198,474		$	(1,268,827	)	$	(10,860	)	$	163,566		$	19,849		$	6,103,362


	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 Loss			Noncontrolling Interests - Operating Partnership			Noncontrolling Interests - Consolidated Real Estate Entities		Total Equity
EQUITY BALANCE DECEMBER 31, 2020	$	9	$	1,141	$	7,176,793		$	(1,294,182	)	$	(12,128	)	$	206,927		$	9,848	$	6,088,408
Net income		—		—		—			47,193			—			1,671			—		48,864
Other comprehensive income - derivative instruments		—		—		—			—			269			10			—		279
Issuance and registration of common shares		—		1		133			—			—			—			—		134
Shares repurchased and retired		—		—		(1,730	)		—			—			—			—		(1,730	)
Exercise of stock options		—		—		1,466			—			—			—			—		1,466
Shares issued in exchange for common units		—		—		232			—			—			(232	)		—		—
Redeemable stock fair market value adjustment		—		—		—			(2,158	)		—			—			—		(2,158	)
Adjustment for noncontrolling interests in Operating Partnership		—		—		(116	)		—			—			116			—		—
Amortization of unearned compensation		—		—		5,993			—			—			—			—		5,993
Dividends on preferred stock		—		—		—			(922	)		—			—			—		(922	)
Dividends on common stock ($1.0250 per share)		—		—		—			(117,278	)		—			—			—		(117,278	)
Dividends on noncontrolling interests units ($1.0250 per share)		—		—		—			—			—			(4,156	)		—		(4,156	)
Contribution from noncontrolling interest		—		—		—			—			—			—			633		633
EQUITY BALANCE MARCH 31, 2021	$	9	$	1,142	$	7,182,771		$	(1,367,347	)	$	(11,859	)	$	204,336		$	10,481	$	6,019,533