MAALP Capital (Tables)

6 Months Ended

Jun. 30, 2021

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, 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 MARCH 31, 2021	$	204,336		$	5,750,074		$	66,840		$	(12,217	)	$	10,481	$	6,019,514
Net income		7,397			215,556			922			—			—		223,875
Other comprehensive income - derivative instruments		—			—			—			278			—		278
Issuance of units		—			(467	)		—			—			—		(467	)
Units repurchased and retired		—			(7,313	)		—			—			—		(7,313	)
General partnership units issued in exchange for limited    partnership units		(21,932	)		21,932			—			—			—		—
Redeemable units fair market value adjustment		—			(3,031	)		—			—			—		(3,031	)
Adjustment for limited partners’ capital at redemption value		(765	)		765			—			—			—		—
Amortization of unearned compensation		—			4,151			—			—			—		4,151
Distributions to preferred unitholders		—			—			(922	)		—			—		(922	)
Distributions to common unitholders ($1.0250 per unit)		(3,696	)		(117,872	)		—			—			—		(121,568	)
Contribution from noncontrolling interest		—			—			—			—			6,131		6,131
CAPITAL BALANCE JUNE 30, 2021	$	185,340		$	5,863,795		$	66,840		$	(11,939	)	$	16,612	$	6,120,648

	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 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	)
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 ($1.0000 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

Changes in MAALP’s total capital and its components for the six months ended June 30, 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		9,068			261,827			1,844			—			—		272,739
Other comprehensive income - derivative instruments		—			—			—			557			—		557
Issuance of units		—			(333	)		—			—			—		(333	)
Units repurchased and retired		—			(9,043	)		—			—			—		(9,043	)
Exercise of unit options		—			1,466			—			—			—		1,466
General partnership units issued in exchange for limited    partnership units		(22,164	)		22,164			—			—			—		—
Redeemable units fair market value adjustment		—			(5,189	)		—			—			—		(5,189	)
Adjustment for limited partners’ capital at redemption value		(639	)		639			—			—			—		—
Amortization of unearned compensation		—			10,144			—			—			—		10,144
Distributions to preferred unitholders		—			—			(1,844	)		—			—		(1,844	)
Distributions to common unitholders ($2.05 per unit)		(7,852	)		(235,150	)		—			—			—		(243,002	)
Contribution from noncontrolling interest		—			—			—			—			6,764		6,764
CAPITAL BALANCE JUNE 30, 2021	$	185,340		$	5,863,795		$	66,840		$	(11,939	)	$	16,612	$	6,120,648

	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		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