Changes in MAALP’s total capital and its components for the three months ended September 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 JUNE 30, 2022	$	66,840		$	5,927,241		$	165,062		$	(10,826	)	$	19,780	$	6,168,097
Net income		922			121,389			3,392			—			—		125,703
Other comprehensive income - derivative instruments		—			—			—			279			—		279
Issuance of units		—			156			—			—			—		156
Units repurchased and retired		—			(12	)		—			—			—		(12	)
General partnership units issued in exchange for limited partnership units		—			307			(307	)		—			—		—
Redeemable units fair market value adjustment		—			2,537			—			—			—		2,537
Adjustment for limited partners’ capital at redemption value		—			(79	)		79			—			—		—
Amortization of unearned compensation		—			4,203			—			—			—		4,203
Distributions to preferred unitholders		(922	)		—			—			—			—		(922	)
Distributions to common unitholders ($1.2500 per unit)		—			(144,309	)		(3,996	)		—			—		(148,305	)
CAPITAL BALANCE SEPTEMBER 30, 2022	$	66,840		$	5,911,433		$	164,230		$	(10,547	)	$	19,780	$	6,151,736


	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 JUNE 30, 2021	$	66,840		$	5,863,795		$	185,340		$	(11,939	)	$	16,612	$	6,120,648
Net income		922			83,557			2,568			—			—		87,047
Other comprehensive income - derivative instruments		—			—			—			278			—		278
Issuance of units		—			(103	)		—			—			—		(103	)
Exercise of unit options		—			12			—			—			—		12
General partnership units issued in exchange for limited partnership units		—			11,108			(11,108	)		—			—		—
Redeemable units fair market value adjustment		—			(2,356	)		—			—			—		(2,356	)
Adjustment for limited partners’ capital at redemption value		—			(52	)		52			—			—		—
Amortization of unearned compensation		—			4,007			—			—			—		4,007
Distributions to preferred unitholders		(922	)		—			—			—			—		(922	)
Distributions to common unitholders ($1.0250 per unit)		—			(118,018	)		(3,486	)		—			—		(121,504	)
Contribution from noncontrolling interest		—			—			—			—			3,204		3,204
CAPITAL BALANCE SEPTEMBER 30, 2021	$	66,840		$	5,841,950		$	173,366		$	(11,661	)	$	19,816	$	6,090,311

Changes in MAALP’s total capital and its components for the nine months ended September 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)		2,766			441,049			12,318			—			(293	)		455,840
Other comprehensive income - derivative instruments		—			—			—			835			—			835
Issuance of units		—			(276	)		—			—			—			(276	)
Units repurchased and retired		—			(14,043	)		—			—			—			(14,043	)
Exercise of unit options		—			28			—			—			—			28
General partnership units issued in exchange for limited partnership units		—			500			(500	)		—			—			—
Redeemable units fair market value adjustment		—			9,297			—			—			—			9,297
Adjustment for limited partners’ capital at redemption value		—			1,227			(1,227	)		—			—			—
Amortization of unearned compensation		—			15,532			—			—			—			15,532
Distributions to preferred unitholders		(2,766	)		—			—			—			—			(2,766	)
Distributions to common unitholders ($3.5875 per unit)		—			(414,138	)		(11,477	)		—			—			(425,615	)
Acquisition of noncontrolling interest		—			(37,443	)		—			—			(5,627	)		(43,070	)
Contribution from noncontrolling interest		—			—			—			—			2,086			2,086
CAPITAL BALANCE SEPTEMBER 30, 2022	$	66,840		$	5,911,433		$	164,230		$	(10,547	)	$	19,780		$	6,151,736


	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		2,766			345,384			11,636			—			—		359,786
Other comprehensive income - derivative instruments		—			—			—			835			—		835
Issuance of units		—			(436	)		—			—			—		(436	)
Units repurchased and retired		—			(9,043	)		—			—			—		(9,043	)
Exercise of unit options		—			1,478			—			—			—		1,478
General partnership units issued in exchange for limited partnership units		—			33,272			(33,272	)		—			—		—
Redeemable units fair market value adjustment		—			(7,545	)		—			—			—		(7,545	)
Adjustment for limited partners’ capital at redemption value		—			587			(587	)		—			—		—
Amortization of unearned compensation		—			14,151			—			—			—		14,151
Distributions to preferred unitholders		(2,766	)		—			—			—			—		(2,766	)
Distributions to common unitholders ($3.0750 per unit)		—			(353,168	)		(11,338	)		—			—		(364,506	)
Contribution from noncontrolling interest		—			—			—			—			9,968		9,968
CAPITAL BALANCE SEPTEMBER 30, 2021	$	66,840		$	5,841,950		$	173,366		$	(11,661	)	$	19,816	$	6,090,311