MAALP Capital

3 Months Ended

Mar. 31, 2021

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, 2021 and 2020 were as follows (dollars in thousands):

	Mid-America Apartments, L.P. Unitholders’ Capital
	Limited Partners			General Partner			Preferred Units			Accumulated Other Comprehensive Loss			Noncontrolling Interests - Consolidated Real Estate Entities		Total Partnership Capital
CAPITAL BALANCE DECEMBER 31, 2020	$	206,927		$	5,817,270		$	66,840		$	(12,496	)	$	9,848	$	6,088,389
Net income		1,671			46,271			922			—			—		48,864
Other comprehensive income - derivative instruments		—			—			—			279			—		279
Issuance of units		—			134			—			—			—		134
Units repurchased and retired		—			(1,730	)		—			—			—		(1,730	)
Exercise of unit options		—			1,466			—			—			—		1,466
General partnership units issued in exchange for limited    partnership units		(232	)		232			—			—			—		—
Redeemable units fair market value adjustment		—			(2,158	)		—			—			—		(2,158	)
Adjustment for limited partners’ capital at redemption value		126			(126	)		—			—			—		—
Amortization of unearned compensation		—			5,993			—			—			—		5,993
Distributions to preferred unitholders		—			—			(922	)		—			—		(922	)
Distributions to common unitholders ($1.0250 per unit)		(4,156	)		(117,278	)		—			—			—		(121,434	)
Contribution from noncontrolling interest		—			—			—			—			633		633
CAPITAL BALANCE MARCH 31, 2021	$	204,336		$	5,750,074		$	66,840		$	(12,217	)	$	10,481	$	6,019,514

	Mid-America Apartments, L.P. Unitholders’ Capital
	Limited Partners			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 ($1.0000 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