MAA Equity (Tables)

6 Months Ended

Jun. 30, 2022

M A A Equity [Abstract]

Summary of Changes in Total Equity and its Components

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