MAALP Capital (Tables)

9 Months Ended

Sep. 30, 2022

M A A L P Capital [Abstract]

Summary of Changes in Total Capital and its Components

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