Changes in MAA’s total equity and its components for the three months ended September 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 JUNE 30, 2022	$	9	$	1,152	$	7,191,920		$	(1,199,216	)	$	(10,591	)	$	165,062		$	19,780	$	6,168,116
Net income		—		—		—			122,311			—			3,392			—		125,703
Other comprehensive income - derivative instruments		—		—		—			—			270			9			—		279
Issuance and registration of common shares		—		—		156			—			—			—			—		156
Shares repurchased and retired		—		—		(12	)		—			—			—			—		(12	)
Shares issued in exchange for common units		—		—		307			—			—			(307	)		—		—
Redeemable stock fair market value adjustment		—		—		—			2,537			—			—			—		2,537
Adjustment for noncontrolling interests in Operating Partnership		—		—		(70	)		—			—			70			—		—
Amortization of unearned compensation		—		—		4,203			—			—			—			—		4,203
Dividends on preferred stock		—		—		—			(922	)		—			—			—		(922	)
Dividends on common stock ($1.2500 per share)		—		—		—			(144,309	)		—			—			—		(144,309	)
Dividends on noncontrolling interests units ($1.2500 per share)		—		—		—			—			—			(3,996	)		—		(3,996	)
EQUITY BALANCE SEPTEMBER 30, 2022	$	9	$	1,152	$	7,196,504		$	(1,219,599	)	$	(10,321	)	$	164,230		$	19,780	$	6,151,755


	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 JUNE 30, 2021	$	9	$	1,147	$	7,201,885		$	(1,272,694	)	$	(11,632	)	$	185,340		$	16,612	$	6,120,667
Net income		—		—		—			84,479			—			2,568			—		87,047
Other comprehensive income - derivative instruments		—		—		—			—			248			30			—		278
Issuance and registration of common shares		—		—		(103	)		—			—			—			—		(103	)
Exercise of stock options		—		—		12			—			—			—			—		12
Shares issued in exchange for common units		—		2		11,106			—			—			(11,108	)		—		—
Redeemable stock fair market value adjustment		—		—		—			(2,356	)		—			—			—		(2,356	)
Adjustment for noncontrolling interests in Operating Partnership		—		—		(22	)		—			—			22			—		—
Amortization of unearned compensation		—		—		4,007			—			—			—			—		4,007
Dividends on preferred stock		—		—		—			(922	)		—			—			—		(922	)
Dividends on common stock ($1.0250 per share)		—		—		—			(118,018	)		—			—			—		(118,018	)
Dividends on noncontrolling interests units ($1.0250 per share)		—		—		—			—			—			(3,486	)		—		(3,486	)
Contribution from noncontrolling interest		—		—		—			—			—			—			3,204		3,204
EQUITY BALANCE SEPTEMBER 30, 2021	$	9	$	1,149	$	7,216,885		$	(1,309,511	)	$	(11,384	)	$	173,366		$	19,816	$	6,090,330

Changes in MAA’s total equity and its components for the nine months ended September 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)		—		—		—			443,815			—			12,318			(293	)		455,840
Other comprehensive income - derivative instruments		—		—		—			—			811			24			—			835
Issuance and registration of common shares		—		1		(277	)		—			—			—			—			(276	)
Shares repurchased and retired		—		—		(14,043	)		—			—			—			—			(14,043	)
Exercise of stock options		—		—		28			—			—			—			—			28
Shares issued in exchange for common units		—		—		500			—			—			(500	)		—			—
Redeemable stock fair market value adjustment		—		—		—			9,297			—			—			—			9,297
Adjustment for noncontrolling interests in Operating Partnership		—		—		1,251			—			—			(1,251	)		—			—
Amortization of unearned compensation		—		—		15,532			—			—			—			—			15,532
Dividends on preferred stock		—		—					(2,766	)		—			—			—			(2,766	)
Dividends on common stock ($3.5875 per share)		—		—		—			(414,138	)		—			—			—			(414,138	)
Dividends on noncontrolling interests units ($3.5875 per share)		—		—		—			—			—			(11,477	)		—			(11,477	)
Acquisition of noncontrolling interest		—		—		(37,443	)		—			—			—			(5,627	)		(43,070	)
Contribution from noncontrolling interest		—		—		—			—			—			—			2,086			2,086
EQUITY BALANCE SEPTEMBER 30, 2022	$	9	$	1,152	$	7,196,504		$	(1,219,599	)	$	(10,321	)	$	164,230		$	19,780		$	6,151,755


	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		—		—		—			348,150			—			11,636			—		359,786
Other comprehensive income - derivative instruments		—		—		—			—			744			91			—		835
Issuance and registration of common shares		—		2		(438	)		—			—			—			—		(436	)
Shares repurchased and retired		—		—		(9,043	)		—			—			—			—		(9,043	)
Exercise of stock options		—		—		1,478			—			—			—			—		1,478
Shares issued in exchange for common units		—		6		33,266			—			—			(33,272	)		—		—
Redeemable stock fair market value adjustment		—		—		—			(7,545	)		—			—			—		(7,545	)
Adjustment for noncontrolling interests in Operating Partnership		—		—		678			—			—			(678	)		—		—
Amortization of unearned compensation		—		—		14,151			—			—			—			—		14,151
Dividends on preferred stock		—		—		—			(2,766	)		—			—			—		(2,766	)
Dividends on common stock ($3.0750 per share)		—		—		—			(353,168	)		—			—			—		(353,168	)
Dividends on noncontrolling interests units ($3.0750 per share)		—		—		—			—			—			(11,338	)		—		(11,338	)
Contribution from noncontrolling interest		—		—		—			—			—			—			9,968		9,968
EQUITY BALANCE SEPTEMBER 30, 2021	$	9	$	1,149	$	7,216,885		$	(1,309,511	)	$	(11,384	)	$	173,366		$	19,816	$	6,090,330