Changes in MAA’s total equity and its components for the three months ended June 30, 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 MARCH 31, 2022	$	9	$	1,151	$	7,198,474		$	(1,268,827	)	$	(10,860	)	$	163,566		$	19,849		$	6,103,362
Net income		—		—		—			210,702			—			5,858			—			216,560
Other comprehensive income - derivative instruments		—		—		—			—			269			8			—			277
Issuance and registration of common shares		—		1		(454	)		—			—			—			—			(453	)
Shares repurchased and retired		—		—		(10,869	)		—			—			—			—			(10,869	)
Redeemable stock fair market value adjustment		—		—		—			4,227			—			—			—			4,227
Adjustment for noncontrolling interests in Operating Partnership		—		—		368			—			—			(368	)		—			—
Amortization of unearned compensation		—		—		4,401			—			—			—			—			4,401
Dividends on preferred stock		—		—		—			(922	)		—			—			—			(922	)
Dividends on common stock ($1.2500 per share)		—		—		—			(144,396	)		—			—			—			(144,396	)
Dividends on noncontrolling interests units ($1.2500 per share)		—		—		—			—			—			(4,002	)		—			(4,002	)
Distribution to noncontrolling interest		—		—		—			—			—			—			(69	)		(69	)
EQUITY BALANCE JUNE 30, 2022	$	9	$	1,152	$	7,191,920		$	(1,199,216	)	$	(10,591	)	$	165,062		$	19,780		$	6,168,116


	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 MARCH 31, 2021	$	9	$	1,142	$	7,182,771		$	(1,367,347	)	$	(11,859	)	$	204,336		$	10,481	$	6,019,533
Net income		—		—		—			216,478			—			7,397			—		223,875
Other comprehensive income - derivative instruments		—		—		—			—			227			51			—		278
Issuance and registration of common shares		—		1		(468	)		—			—			—			—		(467	)
Shares repurchased and retired		—		—		(7,313	)		—			—			—			—		(7,313	)
Shares issued in exchange for common units		—		4		21,928			—			—			(21,932	)		—		—
Redeemable stock fair market value adjustment		—		—		—			(3,031	)		—			—			—		(3,031	)
Adjustment for noncontrolling interests in Operating Partnership		—		—		816			—			—			(816	)		—		—
Amortization of unearned compensation		—		—		4,151			—			—			—			—		4,151
Dividends on preferred stock		—		—		—			(922	)		—			—			—		(922	)
Dividends on common stock ($1.0250 per share)		—		—		—			(117,872	)		—			—			—		(117,872	)
Dividends on noncontrolling interests units ($1.0250 per share)		—		—		—			—			—			(3,696	)		—		(3,696	)
Contribution from noncontrolling interest		—		—		—			—			—			—			6,131		6,131
EQUITY BALANCE JUNE 30, 2021	$	9	$	1,147	$	7,201,885		$	(1,272,694	)	$	(11,632	)	$	185,340		$	16,612	$	6,120,667

Changes in MAA’s total equity and its components for the six months ended June 30, 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)		—		—		—			321,504			—			8,926			(293	)		330,137
Other comprehensive income - derivative instruments		—		—		—			—			541			15			—			556
Issuance and registration of common shares		—		1		(433	)		—			—			—			—			(432	)
Shares repurchased and retired		—		—		(14,031	)		—			—			—			—			(14,031	)
Exercise of stock options		—		—		28			—			—			—			—			28
Shares issued in exchange for common units		—		—		193			—			—			(193	)		—			—
Redeemable stock fair market value adjustment		—		—		—			6,760			—			—			—			6,760
Adjustment for noncontrolling interests in Operating Partnership		—		—		1,321			—			—			(1,321	)		—			—
Amortization of unearned compensation		—		—		11,329			—			—			—			—			11,329
Dividends on preferred stock		—		—					(1,844	)		—			—			—			(1,844	)
Dividends on common stock ($2.3375 per share)		—		—		—			(269,829	)		—			—			—			(269,829	)
Dividends on noncontrolling interests units ($2.3375 per share)		—		—		—			—			—			(7,481	)		—			(7,481	)
Acquisition of noncontrolling interest		—		—		(37,443	)		—			—			—			(5,627	)		(43,070	)
Contribution from noncontrolling interest		—		—		—			—			—			—			2,086			2,086
EQUITY BALANCE JUNE 30, 2022	$	9	$	1,152	$	7,191,920		$	(1,199,216	)	$	(10,591	)	$	165,062		$	19,780		$	6,168,116


	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		—		—		—			263,671			—			9,068			—		272,739
Other comprehensive income - derivative instruments		—		—		—			—			496			61			—		557
Issuance and registration of common shares		—		2		(335	)		—			—			—			—		(333	)
Shares repurchased and retired		—		—		(9,043	)		—			—			—			—		(9,043	)
Exercise of stock options		—		—		1,466			—			—			—			—		1,466
Shares issued in exchange for common units		—		4		22,160			—			—			(22,164	)		—		—
Redeemable stock fair market value adjustment		—		—		—			(5,189	)		—			—			—		(5,189	)
Adjustment for noncontrolling interests in Operating Partnership		—		—		700			—			—			(700	)		—		—
Amortization of unearned compensation		—		—		10,144			—			—			—			—		10,144
Dividends on preferred stock		—		—		—			(1,844	)		—			—			—		(1,844	)
Dividends on common stock ($2.0500 per share)		—		—		—			(235,150	)		—			—			—		(235,150	)
Dividends on noncontrolling interests units ($2.0500 per share)		—		—		—			—			—			(7,852	)		—		(7,852	)
Contribution from noncontrolling interest		—		—		—			—			—			—			6,764		6,764
EQUITY BALANCE JUNE 30, 2021	$	9	$	1,147	$	7,201,885		$	(1,272,694	)	$	(11,632	)	$	185,340		$	16,612	$	6,120,667