MAALP Capital

3 Months Ended

Mar. 31, 2023

M A A L P Capital [Abstract]

MAALP Capital

5. MAALP Capital

Changes in MAALP’s total capital and its components for the three months ended March 31, 2023 and 2022 were as follows (dollars in thousands):

	Mid-America Apartments, L.P. Unitholders’ Capital
	General Partner			Limited Partners			Preferred Units			Accumulated Other Comprehensive Loss			Noncontrolling Interests - Consolidated Real Estate Entities		Total Partnership Capital
CAPITAL BALANCE DECEMBER 31, 2022	$	5,948,498		$	163,595		$	66,840		$	(10,268	)	$	21,064	$	6,189,729
Net income		134,988			3,664			922			—			—		139,574
Other comprehensive income - derivative instruments		—			—			—			278			—		278
Issuance of units		203,897			—			—			—			—		203,897
Units repurchased and retired		(1,920	)		—			—			—			—		(1,920	)
General partnership units issued in exchange for limited     partnership units		479			(479	)		—			—			—		—
Units issued in exchange for redeemable stock		581			—			—			—			—		581
Redeemable units fair market value adjustment		793			—			—			—			—		793
Adjustment for limited partners’ capital at redemption value		(3,945	)		3,945			—			—			—		—
Amortization of unearned compensation		6,379			—			—			—			—		6,379
Distributions to preferred unitholders		—			—			(922	)		—			—		(922	)
Distributions to common unitholders ($1.4000 per unit)		(163,252	)		(4,416	)		—			—			—		(167,668	)
Distribution from noncontrolling interest		—			—			—			—			256		256
CAPITAL BALANCE MARCH 31, 2023	$	6,126,498		$	166,309		$	66,840		$	(9,990	)	$	21,320	$	6,370,977

	Mid-America Apartments, L.P. Unitholders’ Capital
	General Partner			Limited Partners			Preferred Units			Accumulated Other Comprehensive Loss			Noncontrolling Interests - Consolidated Real Estate Entities			Total Partnership Capital
CAPITAL BALANCE DECEMBER 31, 2021	$	5,909,700		$	165,116		$	66,840		$	(11,382	)	$	23,614		$	6,153,888
Net income (loss)		109,880			3,068			922			—			(293	)		113,577
Other comprehensive income - derivative instruments		—			—			—			279			—			279
Issuance of units		21			—			—			—			—			21
Units repurchased and retired		(3,162	)		—			—			—			—			(3,162	)
Exercise of unit options		28			—			—			—			—			28
General partnership units issued in exchange for limited     partnership units		193			(193	)		—			—			—			—
Redeemable units fair market value adjustment		2,533			—			—			—			—			2,533
Adjustment for limited partners’ capital at redemption value		946			(946	)		—			—			—			—
Amortization of unearned compensation		6,928			—			—			—			—			6,928
Distributions to preferred unitholders		—			—			(922	)		—			—			(922	)
Distributions to common unitholders ($1.0875 per unit)		(125,433	)		(3,479	)		—			—			—			(128,912	)
Acquisition of noncontrolling interest		(37,443	)		—			—			—			(5,627	)		(43,070	)
Contribution from noncontrolling interest		—			—			—			—			2,155			2,155
CAPITAL BALANCE MARCH 31, 2022	$	5,864,191		$	163,566		$	66,840		$	(11,103	)	$	19,849		$	6,103,343