Changes in MAA’s total equity and its components for the three months ended June 30, 2024 and 2023 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 MARCH 31, 2024	$	9	$	1,168		$	7,406,189		$	(1,326,654	)	$	(8,263	)	$	161,909		$	23,032	$	6,257,390
Net income		—		—			—			101,953			—			2,709			—		104,662
Other comprehensive income - derivative instruments		—		—			—			—			488			15			—		503
Issuance and registration of common shares		—		2			(892	)		—			—			—			—		(890	)
Shares repurchased and retired		—		(1	)		(4,131	)		—			—			—			—		(4,132	)
Shares issued in exchange for common units		—		1			2,008			—			—			(2,009	)		—		—
Shares issued in exchange for redeemable stock		—		(4	)		2,073			—			—			—			—		2,069
Redeemable stock fair market value adjustment		—		—			—			(1,445	)		—			—			—		(1,445	)
Adjustment for noncontrolling interests in Operating Partnership		—		—			206			—			—			(206	)		—		—
Amortization of unearned compensation		—		—			3,805			—			—			—			—		3,805
Dividends on preferred stock		—		—			—			(922	)		—			—			—		(922	)
Dividends on common stock ($1.4700 per share)		—		—			—			(171,925	)		—			—			—		(171,925	)
Distributions on noncontrolling interests units ($1.4700 per unit)		—		—			—			—			—			(4,513	)		—		(4,513	)
Contribution from noncontrolling interest		—		—			—			—			—			—			1,630		1,630
EQUITY BALANCE JUNE 30, 2024	$	9	$	1,166		$	7,409,258		$	(1,398,993	)	$	(7,775	)	$	157,905		$	24,662	$	6,186,232


	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 MARCH 31, 2023	$	9	$	1,167	$	7,408,307		$	(1,216,325	)	$	(9,791	)	$	166,309		$	21,320	$	6,370,996
Net income		—		—		—			145,688			—			3,969			—		149,657
Other comprehensive income - derivative instruments		—		—		—			—			277			1			—		278
Issuance and registration of common shares		—		1		(842	)		—			—			—			—		(841	)
Shares repurchased and retired		—		—		(5,920	)		—			—			—			—		(5,920	)
Shares issued in exchange for common units		—		—		52			—			—			(52	)		—		—
Redeemable stock fair market value adjustment		—		—		—			(129	)		—			—			—		(129	)
Adjustment for noncontrolling interests in Operating Partnership		—		—		183			—			—			(183	)		—		—
Amortization of unearned compensation		—		—		3,792			—			—			—			—		3,792
Dividends on preferred stock		—		—		—			(922	)		—			—			—		(922	)
Dividends on common stock ($1.4000 per share)		—		—		—			(163,430	)		—			—			—		(163,430	)
Distributions on noncontrolling interests units ($1.4000 per unit)		—		—		—			—			—			(4,418	)		—		(4,418	)
Contribution from noncontrolling interest		—		—		—			—			—			—			1,009		1,009
EQUITY BALANCE JUNE 30, 2023	$	9	$	1,168	$	7,405,572		$	(1,235,118	)	$	(9,514	)	$	165,626		$	22,329	$	6,350,072

Changes in MAA’s total equity and its components for the six months ended June 30, 2024 and 2023 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, 2023	$	9	$	1,168		$	7,399,921		$	(1,298,263	)	$	(8,764	)	$	163,128		$	22,756	$	6,279,955
Net income		—		—			—			245,702			—			6,570			—		252,272
Other comprehensive income - derivative instruments		—		—			—			—			989			31			—		1,020
Issuance and registration of common shares		—		2			(799	)		—			—			—			—		(797	)
Shares repurchased and retired		—		(1	)		(4,973	)		—			—			—			—		(4,974	)
Shares issued in exchange for common units		—		1			2,602			—			—			(2,603	)		—		—
Shares issued in exchange for redeemable stock		—		(4	)		2,073			—			—			—			—		2,069
Redeemable stock fair market value adjustment		—		—			—			(1,043	)		—			—			—		(1,043	)
Adjustment for noncontrolling interests in Operating Partnership		—		—			104			—			—			(104	)		—		—
Amortization of unearned compensation		—		—			10,330			—			—			—			—		10,330
Dividends on preferred stock		—		—			—			(1,844	)		—			—			—		(1,844	)
Dividends on common stock ($2.9400 per share)		—		—			—			(343,545	)		—			—			—		(343,545	)
Distributions on noncontrolling interests units ($2.9400 per unit)		—		—			—			—			—			(9,117	)		—		(9,117	)
Contribution from noncontrolling interest		—		—			—			—			—			—			1,906		1,906
EQUITY BALANCE JUNE 30, 2024	$	9	$	1,166		$	7,409,258		$	(1,398,993	)	$	(7,775	)	$	157,905		$	24,662	$	6,186,232


	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, 2022	$	9	$	1,152	$	7,202,834		$	(1,188,854	)	$	(10,052	)	$	163,595		$	21,064	$	6,189,748
Net income		—		—		—			281,598			—			7,633			—		289,231
Other comprehensive income - derivative instruments		—		—		—			—			538			18			—		556
Issuance and registration of common shares		—		12		203,044			—			—			—			—		203,056
Shares repurchased and retired		—		—		(7,840	)		—			—			—			—		(7,840	)
Shares issued in exchange for common units		—		—		531			—			—			(531	)		—		—
Shares issued in exchange for redeemable stock		—		4		577			—			—			—			—		581
Redeemable stock fair market value adjustment		—		—		—			664			—			—			—		664
Adjustment for noncontrolling interests in Operating Partnership		—		—		(3,745	)		—			—			3,745			—		—
Amortization of unearned compensation		—		—		10,171			—			—			—			—		10,171
Dividends on preferred stock		—		—		—			(1,844	)		—			—			—		(1,844	)
Dividends on common stock ($2.8000 per share)		—		—		—			(326,682	)		—			—			—		(326,682	)
Distributions on noncontrolling interests units ($2.8000 per unit)		—		—		—			—			—			(8,834	)		—		(8,834	)
Contribution from noncontrolling interest		—		—		—			—			—			—			1,265		1,265
EQUITY BALANCE JUNE 30, 2023	$	9	$	1,168	$	7,405,572		$	(1,235,118	)	$	(9,514	)	$	165,626		$	22,329	$	6,350,072