MAALP Capital (Tables)

3 Months Ended

Mar. 31, 2023

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 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