MAALP Capital (Tables)

6 Months Ended

Jun. 30, 2020

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 June 30, 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 MARCH 31, 2020	$	211,498		$	5,943,891		$	66,840		$	(13,331	)	$	6,648	$	6,215,546
Net income		2,666			74,140			922			—			—		77,728
Other comprehensive income - derivative instruments		—			—			—			278			—		278
Issuance of units		—			(416	)		—			—			—		(416	)
Units repurchased and retired		—			(3,930	)		—			—			—		(3,930	)
Exercise of unit options		—			—			—			—			—		—
General partnership units issued in exchange for limited    partnership units		—			—			—			—			—		—
Redeemable units fair market value adjustment		—			(1,297	)		—			—			—		(1,297	)
Adjustment for limited partners’ capital at redemption value		(211	)		211			—			—			—		—
Amortization of unearned compensation		—			2,864			—			—			—		2,864
Distributions to preferred unitholders		—			—			(922	)		—			—		(922	)
Distributions to common unitholders ($1.00 per unit)		(4,059	)		(114,435	)		—			—			—		(118,494	)
Contribution from noncontrolling interest		—			—			—			—			201		201
CAPITAL BALANCE JUNE 30, 2020	$	209,894		$	5,901,028		$	66,840		$	(13,053	)	$	6,849	$	6,171,558

	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 MARCH 31, 2019	$	218,011		$	6,038,625		$	66,840		$	(3,362	)	$	5,166	$	6,325,280
Net income		2,224			60,995			922			—			—		64,141
Other comprehensive loss - derivative instruments		—			—			—			(6,004	)		—		(6,004	)
Issuance of units		—			(519	)		—			—			—		(519	)
Units repurchased and retired		—			(701	)		—			—			—		(701	)
Exercise of unit options		—			1,032			—			—			—		1,032
General partnership units issued in exchange for limited    partnership units		(821	)		821			—			—			—		—
Units issued in exchange for redeemable units		—			575			—			—			—		575
Redeemable units fair market value adjustment		—			(835	)		—			—			—		(835	)
Adjustment for limited partners’ capital at redemption value		(85	)		85			—			—			—		—
Amortization of unearned compensation		—			3,452			—			—			—		3,452
Distributions to preferred unitholders		—			—			(922	)		—			—		(922	)
Distributions to common unitholders ($0.96 per unit)		(3,925	)		(109,557	)		—			—			—		(113,482	)
Contribution from noncontrolling interest		—			—			—			—			490		490
CAPITAL BALANCE JUNE 30, 2019	$	215,404		$	5,993,973		$	66,840		$	(9,366	)	$	5,656	$	6,272,507

Changes in MAALP’s total capital and its components for the six months ended June 30, 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		3,970			109,866			1,844			—			—		115,680
Other comprehensive income - derivative instruments		—			—			—			531			—		531
Issuance of units		—			(377	)		—			—			—		(377	)
Units repurchased and retired		—			(5,657	)		—			—			—		(5,657	)
Exercise of unit options		—			71			—			—			—		71
General partnership units issued in exchange for limited    partnership units		(450	)		450			—			—			—		—
Redeemable units fair market value adjustment		—			1,814			—			—			—		1,814
Adjustment for limited partners’ capital at redemption value		(155	)		155			—			—			—		—
Amortization of unearned compensation		—			8,153			—			—			—		8,153
Distributions to preferred unitholders		—			—			(1,844	)		—			—		(1,844	)
Distributions to common unitholders ($2.00 per unit)		(8,118	)		(228,737	)		—			—			—		(236,855	)
Contribution from noncontrolling interest		—			—			—			—			602		602
CAPITAL BALANCE JUNE 30, 2020	$	209,894		$	5,901,028		$	66,840		$	(13,053	)	$	6,849	$	6,171,558

	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		4,522			123,733			1,844			—			—		130,099
Other comprehensive loss - derivative instruments		—			—			—			(9,205	)		—		(9,205	)
Issuance of units		—			610			—			—			—		610
Units repurchased and retired		—			(3,724	)		—			—			—		(3,724	)
Exercise of unit options		—			1,240			—			—			—		1,240
General partnership units issued in exchange for limited    partnership units		(1,157	)		1,157			—			—			—		—
Units issued in exchange for redeemable units		—			575			—			—			—		575
Redeemable units fair market value adjustment		—			(2,186	)		—			—			—		(2,186	)
Adjustment for limited partners’ capital at redemption value		(138	)		138			—			—			—		—
Amortization of unearned compensation		—			8,237			—			—			—		8,237
Distributions to preferred unitholders		—			—			(1,844	)		—			—		(1,844	)
Distributions to common unitholders ($1.92 per unit)		(7,866	)		(218,949	)		—			—			—		(226,815	)
Contribution from noncontrolling interest		—			—			—			—			3,350		3,350
CAPITAL BALANCE JUNE 30, 2019	$	215,404		$	5,993,973		$	66,840		$	(9,366	)	$	5,656	$	6,272,507