MAA Equity (Tables)

9 Months Ended

Sep. 30, 2019

Summary of Changes in Total Equity and its Components

Changes in total equity and its components for the three months ended September 30, 2019 and 2018 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 JUNE 30, 2019	$	9	$	1,138	$	7,146,076		$	(1,086,665	)	$	(9,092	)	$	215,404		$	5,656	$	6,272,526
Net income		—		—		—			78,645			—			2,814			—		81,459
Other comprehensive loss - derivative instruments		—		—		—			—			(5,778	)		(195	)		—		(5,973	)
Issuance and registration of common shares		—		—		140			—			—			—			—		140
Exercise of stock options		—		—		(204	)		—			—			—			—		(204	)
Shares issued in exchange for common units		—		—		836			—			—			(836	)		—		—
Redeemable stock fair market value adjustment		—		—		—			(1,269	)		—			—			—		(1,269	)
Adjustment for noncontrolling interests in Operating Partnership		—		—		(272	)		—			—			272			—		—
Amortization of unearned compensation		—		—		3,313			—			—			—			—		3,313
Dividends on preferred stock		—		—		—			(922	)		—			—			—		(922	)
Dividends on common stock ($0.9600 per share)		—		—		—			(109,503	)		—			—			—		(109,503	)
Dividends on noncontrolling interests units ($0.9600 per unit)		—		—		—			—			—			(3,912	)		—		(3,912	)
Contribution from noncontrolling interest		—		—		—			—			—			—			955		955
EQUITY BALANCE SEPTEMBER 30, 2019	$	9	$	1,138	$	7,149,889		$	(1,119,714	)	$	(14,870	)	$	213,547		$	6,611	$	6,236,610

	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 Income		Noncontrolling Interests - Operating Partnership			Noncontrolling Interests - Consolidated Real Estate Entities		Total Equity
EQUITY BALANCE JUNE 30, 2018	$	9	$	1,136	$	7,130,902		$	(887,672	)	$	7,986	$	224,813		$	2,306	$	6,479,480
Net income		—		—		—			52,791			—		1,913			—		54,704
Other comprehensive income - derivative instruments		—		—		—			—			3,570		127			—		3,697
Issuance and registration of common shares		—		—		(35	)		—			—		—			—		(35	)
Exercise of stock options		—		—		291			—			—		—			—		291
Shares issued in exchange for common units		—		—		1,165			—			—		(1,165	)		—		—
Redeemable stock fair market value adjustment		—		—		—			48			—		—			—		48
Adjustment for noncontrolling interests in Operating Partnership		—		—		266			—			—		(266	)		—		—
Amortization of unearned compensation		—		—		2,890			—			—		—			—		2,890
Dividends on preferred stock		—		—		—			(922	)		—		—			—		(922	)
Dividends on common stock ($0.9225 per share)		—		—		—			(105,018	)		—		—			—		(105,018	)
Dividends on noncontrolling interests units ($0.9225 per unit)		—		—		—			—			—		(3,581	)		—		(3,581	)
EQUITY BALANCE SEPTEMBER 30, 2018	$	9	$	1,136	$	7,135,479		$	(940,773	)	$	11,556	$	221,841		$	2,306	$	6,431,554

Changes in total equity and its components for the nine months ended September 30, 2019 and 2018 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, 2018	$	9	$	1,136	$	7,138,170		$	(989,263	)	$	(212	)	$	220,043		$	2,306	$	6,372,189
Net income		—		—		—			204,222			—			7,336			—		211,558
Other comprehensive loss - derivative instruments		—		—		—			—			(14,658	)		(520	)		—		(15,178	)
Issuance and registration of common shares		—		2		748			—			—			—			—		750
Shares repurchased and retired		—		—		(3,724	)		—			—			—			—		(3,724	)
Exercise of stock options		—		—		1,036			—			—			—			—		1,036
Shares issued in exchange for common units		—		—		1,993			—			—			(1,993	)		—		—
Shares issued in exchange for redeemable stock		—		—		575			—			—			—			—		575
Redeemable stock fair market value adjustment		—		—		—			(3,455	)		—			—			—		(3,455	)
Adjustment for noncontrolling interests in Operating Partnership		—		—		(459	)		—			—			459			—		—
Amortization of unearned compensation		—		—		11,550			—			—			—			—		11,550
Dividends on preferred stock		—		—		—			(2,766	)		—			—			—		(2,766	)
Dividends on common stock ($2.8800 per share)		—		—		—			(328,452	)		—			—			—		(328,452	)
Dividends on noncontrolling interests units ($2.8800 per unit)		—		—		—			—			—			(11,778	)		—		(11,778	)
Contribution from noncontrolling interest		—		—		—			—			—			—			4,305		4,305
EQUITY BALANCE SEPTEMBER 30, 2019	$	9	$	1,138	$	7,149,889		$	(1,119,714	)	$	(14,870	)	$	213,547		$	6,611	$	6,236,610

	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 Income		Noncontrolling Interests - Operating Partnership			Noncontrolling Interests - Consolidated Real Estate Entities		Total Equity
EQUITY BALANCE DECEMBER 31, 2017	$	9	$	1,134	$	7,121,112		$	(784,500	)	$	2,157	$	231,676		$	2,306	$	6,573,894
Net income		—		—		—			161,617			—		5,888			—		167,505
Other comprehensive income - derivative instruments		—		—		—			—			9,166		335			—		9,501
Issuance and registration of common shares		—		1		(272	)		—			—		—			—		(271	)
Shares repurchased and retired		—		—		(2,912	)		—			—		—			—		(2,912	)
Exercise of stock options		—		—		916			—			—		—					916
Shares issued in exchange for common units		—		1		4,282			—			—		(4,283	)		—		—
Shares issued in exchange for redeemable stock		—		—		1,915			—			—		—			—		1,915
Redeemable stock fair market value adjustment		—		—		—			121			—		—			—		121
Adjustment for noncontrolling interests in Operating Partnership		—		—		561			—			—		(561	)		—		—
Cumulative adjustment due to adoption of ASU 2017-12				—		—			(233	)		233		—			—		—
Amortization of unearned compensation		—		—		9,877			—			—		—			—		9,877
Dividends on preferred stock		—		—		—			(2,766	)		—		—			—		(2,766	)
Dividends on common stock ($2.7675 per share)		—		—		—			(315,012	)		—		—			—		(315,012	)
Dividends on noncontrolling interests units ($2.7675 per unit)		—		—		—			—			—		(11,214	)		—		(11,214	)
EQUITY BALANCE SEPTEMBER 30, 2018	$	9	$	1,136	$	7,135,479		$	(940,773	)	$	11,556	$	221,841		$	2,306	$	6,431,554