MAALP Capital

3 Months Ended

Mar. 31, 2020

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, 2020 and 2019 were as follows (dollars in thousands):

	Mid-America Apartments, L.P. Unitholders’ Capital
	Limited Partner			General Partner			Preferred Units			Accumulated Other Comprehensive Loss			Noncontrolling Interests- Consolidated Real Estate Entities		Total Partnership Capital
CAPITAL BALANCE DECEMBER 31, 2019	$	214,647		$	6,015,290		$	66,840		$	(13,584	)	$	6,247	$	6,289,440
Net income		1,304			35,726			922			—			—		37,952
Other comprehensive income - derivative instruments		—			—			—			253			—		253
Issuance of units		—			39			—			—			—		39
Units repurchased and retired		—			(1,727	)		—			—			—		(1,727	)
Exercise of unit options		—			71			—			—			—		71
General partnership units issued in exchange for limited partnership units		(450	)		450			—			—			—		—
Redeemable units fair market value adjustment		—			3,111			—			—			—		3,111
Adjustment for limited partners’ capital at redemption value		56			(56	)		—			—			—		—
Amortization of unearned compensation		—			5,289			—			—			—		5,289
Distributions to preferred unitholders		—			—			(922	)		—			—		(922	)
Distributions to common unitholders ($1.00 per unit)		(4,059	)		(114,302	)		—			—			—		(118,361	)
Contribution from noncontrolling interest		—			—			—			—			401		401
CAPITAL BALANCE MARCH 31, 2020	$	211,498		$	5,943,891		$	66,840		$	(13,331	)	$	6,648	$	6,215,546

	Mid-America Apartments, L.P. Unitholders’ Capital
	Limited Partner			General Partner			Preferred Units			Accumulated Other Comprehensive Loss			Noncontrolling Interests - Consolidated Real Estate Entities		Total Partnership Capital
CAPITAL BALANCE DECEMBER 31, 2018	$	220,043		$	6,083,142		$	66,840		$	(161	)	$	2,306	$	6,372,170
Net income		2,298			62,738			922			—			—		65,958
Other comprehensive loss - derivative instruments		—			—			—			(3,201	)		—		(3,201	)
Issuance of units		—			1,129			—			—			—		1,129
Units repurchased and retired		—			(3,023	)		—			—			—		(3,023	)
Exercise of unit options		—			208			—			—			—		208
General partnership units issued in exchange for limited partnership units		(336	)		336			—			—			—		—
Redeemable units fair market value adjustment		—			(1,351	)		—			—			—		(1,351	)
Adjustment for limited partners’ capital at redemption value		(53	)		53			—			—			—		—
Amortization of unearned compensation		—			4,785			—			—			—		4,785
Distributions to preferred unitholders		—			—			(922	)		—			—		(922	)
Distributions to common unitholders ($0.96 per unit)		(3,941	)		(109,392	)		—			—			—		(113,333	)
Contribution from noncontrolling interest		—			—			—			—			2,860		2,860
CAPITAL BALANCE MARCH 31, 2019	$	218,011		$	6,038,625		$	66,840		$	(3,362	)	$	5,166	$	6,325,280