MAA Equity (Tables)

6 Months Ended

Jun. 30, 2024

M A A Equity [Abstract]

Summary of Changes in Total Equity and its Components

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