MAALP Capital

3 Months Ended

Mar. 31, 2022

M A A L P Capital [Abstract]

MAALP Capital

5. MAALP Capital

Changes in MAALP’s total capital and its components for the three months ended March 31, 2022 and 2021 were as follows (dollars in thousands):

	Mid-America Apartments, L.P. Unitholders’ Capital
	Preferred Units			General Partner			Limited Partners			Accumulated Other Comprehensive Loss			Noncontrolling Interests - Consolidated Real Estate Entities			Total Partnership Capital
EQUITY BALANCE DECEMBER 31, 2021	$	66,840		$	5,909,700		$	165,116		$	(11,382	)	$	23,614		$	6,153,888
Net income (loss)		922			109,880			3,068			—			(293	)		113,577
Other comprehensive income - derivative instruments		—			—			—			279			—			279
Issuance of units		—			21			—			—			—			21
Units repurchased and retired		—			(3,162	)		—			—			—			(3,162	)
Exercise of unit options		—			28			—			—			—			28
General partnership units issued in exchange for limited partnership units		—			193			(193	)		—			—			—
Redeemable units fair market value adjustment		—			2,533			—			—			—			2,533
Adjustment for limited partners’ capital at redemption value		—			946			(946	)		—			—			—
Amortization of unearned compensation		—			6,928			—			—			—			6,928
Distributions to preferred unitholders		(922	)		—			—			—			—			(922	)
Distributions to common unitholders ($1.0875 per unit)		—			(125,433	)		(3,479	)		—			—			(128,912	)
Acquisition of noncontrolling interest		—			(37,443	)		—			—			(5,627	)		(43,070	)
Contribution from noncontrolling interest		—			—			—			—			2,155			2,155
EQUITY BALANCE MARCH 31, 2022	$	66,840		$	5,864,191		$	163,566		$	(11,103	)	$	19,849		$	6,103,343

	Mid-America Apartments, L.P. Unitholders’ Capital
	Preferred Units			General Partner			Limited Partners			Accumulated Other Comprehensive Loss			Noncontrolling Interests - Consolidated Real Estate Entities		Total Partnership Capital
EQUITY BALANCE DECEMBER 31, 2020	$	66,840		$	5,817,270		$	206,927		$	(12,496	)	$	9,848	$	6,088,389
Net income		922			46,271			1,671			—			—		48,864
Other comprehensive income - derivative instruments		—			—			—			279			—		279
Issuance of units		—			134			—			—			—		134
Units repurchased and retired		—			(1,730	)		—			—			—		(1,730	)
Exercise of unit options		—			1,466			—			—			—		1,466
General partnership units issued in exchange for limited partnership units		—			232			(232	)		—			—		—
Redeemable units fair market value adjustment		—			(2,158	)		—			—			—		(2,158	)
Adjustment for limited partners’ capital at redemption value		—			(126	)		126			—			—		—
Amortization of unearned compensation		—			5,993			—			—			—		5,993
Distributions to preferred unitholders		(922	)		—			—			—			—		(922	)
Distributions to common unitholders ($1.0250 per unit)		—			(117,278	)		(4,156	)		—			—		(121,434	)
Contribution from noncontrolling interest		—			—			—			—			633		633
EQUITY BALANCE MARCH 31, 2021	$	66,840		$	5,750,074		$	204,336		$	(12,217	)	$	10,481	$	6,019,514