Changes in MAALP’s total capital and its components for the three months ended June 30, 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
CAPITAL BALANCE MARCH 31, 2022	$	66,840		$	5,864,191		$	163,566		$	(11,103	)	$	19,849		$	6,103,343
Net income		922			209,780			5,858			—			—			216,560
Other comprehensive income - derivative instruments		—			—			—			277			—			277
Issuance of units		—			(453	)		—			—			—			(453	)
Units repurchased and retired		—			(10,869	)		—			—			—			(10,869	)
Redeemable units fair market value adjustment		—			4,227			—			—			—			4,227
Adjustment for limited partners’ capital at redemption value		—			360			(360	)		—			—			—
Amortization of unearned compensation		—			4,401			—			—			—			4,401
Distributions to preferred unitholders		(922	)		—			—			—			—			(922	)
Distributions to common unitholders ($1.2500 per unit)		—			(144,396	)		(4,002	)		—			—			(148,398	)
Distribution to noncontrolling interest		—			—			—			—			(69	)		(69	)
CAPITAL BALANCE JUNE 30, 2022	$	66,840		$	5,927,241		$	165,062		$	(10,826	)	$	19,780		$	6,168,097


	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
CAPITAL BALANCE MARCH 31, 2021	$	66,840		$	5,750,074		$	204,336		$	(12,217	)	$	10,481	$	6,019,514
Net income		922			215,556			7,397			—			—		223,875
Other comprehensive income - derivative instruments		—			—			—			278			—		278
Issuance of units		—			(467	)		—			—			—		(467	)
Units repurchased and retired		—			(7,313	)		—			—			—		(7,313	)
General partnership units issued in exchange for limited partnership units		—			21,932			(21,932	)		—			—		—
Redeemable units fair market value adjustment		—			(3,031	)		—			—			—		(3,031	)
Adjustment for limited partners’ capital at redemption value		—			765			(765	)		—			—		—
Amortization of unearned compensation		—			4,151			—			—			—		4,151
Distributions to preferred unitholders		(922	)		—			—			—			—		(922	)
Distributions to common unitholders ($1.0250 per unit)		—			(117,872	)		(3,696	)		—			—		(121,568	)
Contribution from noncontrolling interest		—			—			—			—			6,131		6,131
CAPITAL BALANCE JUNE 30, 2021	$	66,840		$	5,863,795		$	185,340		$	(11,939	)	$	16,612	$	6,120,648

Changes in MAALP’s total capital and its components for the six months ended June 30, 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
CAPITAL BALANCE DECEMBER 31, 2021	$	66,840		$	5,909,700		$	165,116		$	(11,382	)	$	23,614		$	6,153,888
Net income (loss)		1,844			319,660			8,926			—			(293	)		330,137
Other comprehensive income - derivative instruments		—			—			—			556			—			556
Issuance of units		—			(432	)		—			—			—			(432	)
Units repurchased and retired		—			(14,031	)		—			—			—			(14,031	)
Exercise of unit options		—			28			—			—			—			28
General partnership units issued in exchange for limited partnership units		—			193			(193	)		—			—			—
Redeemable units fair market value adjustment		—			6,760			—			—			—			6,760
Adjustment for limited partners’ capital at redemption value		—			1,306			(1,306	)		—			—			—
Amortization of unearned compensation		—			11,329			—			—			—			11,329
Distributions to preferred unitholders		(1,844	)		—			—			—			—			(1,844	)
Distributions to common unitholders ($2.3375 per unit)		—			(269,829	)		(7,481	)		—			—			(277,310	)
Acquisition of noncontrolling interest		—			(37,443	)		—			—			(5,627	)		(43,070	)
Contribution from noncontrolling interest		—			—			—			—			2,086			2,086
CAPITAL BALANCE JUNE 30, 2022	$	66,840		$	5,927,241		$	165,062		$	(10,826	)	$	19,780		$	6,168,097


	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
CAPITAL BALANCE DECEMBER 31, 2020	$	66,840		$	5,817,270		$	206,927		$	(12,496	)	$	9,848	$	6,088,389
Net income		1,844			261,827			9,068			—			—		272,739
Other comprehensive income - derivative instruments		—			—			—			557			—		557
Issuance of units		—			(333	)		—			—			—		(333	)
Units repurchased and retired		—			(9,043	)		—			—			—		(9,043	)
Exercise of unit options		—			1,466			—			—			—		1,466
General partnership units issued in exchange for limited partnership units		—			22,164			(22,164	)		—			—		—
Redeemable units fair market value adjustment		—			(5,189	)		—			—			—		(5,189	)
Adjustment for limited partners’ capital at redemption value		—			639			(639	)		—			—		—
Amortization of unearned compensation		—			10,144			—			—			—		10,144
Distributions to preferred unitholders		(1,844	)		—			—			—			—		(1,844	)
Distributions to common unitholders ($2.0500 per unit)		—			(235,150	)		(7,852	)		—			—		(243,002	)
Contribution from noncontrolling interest		—			—			—			—			6,764		6,764
CAPITAL BALANCE JUNE 30, 2021	$	66,840		$	5,863,795		$	185,340		$	(11,939	)	$	16,612	$	6,120,648