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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues:        
Rental and other property revenues $ 436,927 $ 413,026 $ 861,932 $ 831,124
Expenses:        
Operating expenses, excluding real estate taxes and insurance 101,751 95,555 197,712 186,923
Real estate taxes and insurance 67,010 61,916 133,517 123,720
Depreciation and amortization 131,824 127,190 263,327 253,578
Total property operating expenses 300,585 284,661 594,556 564,221
Property management expenses 13,752 11,730 26,691 26,373
General and administrative expenses 13,114 10,557 26,093 23,821
Interest expense 38,867 42,118 78,539 85,600
(Gain) loss on sale of depreciable real estate assets (134,828) (2) (134,828) 27
(Gain) loss on sale of non-depreciable real estate assets (32) (5) (32) 371
Other non-operating (income) expense (20,126) (14,643) (4,213) 13,889
Income before income tax expense 225,595 78,610 275,126 116,822
Income tax expense (2,045) (1,200) (3,044) (1,867)
Income from continuing operations before real estate joint venture activity 223,550 77,410 272,082 114,955
Income from real estate joint venture 325 318 657 725
Net income 223,875 77,728 272,739 115,680
Net income attributable to noncontrolling interests 7,397 2,666 9,068 3,970
Net income available for shareholders 216,478 75,062 263,671 111,710
Dividends to MAA Series I preferred shareholders 922 922 1,844 1,844
Net income available for MAA common shareholders $ 215,556 $ 74,140 $ 261,827 $ 109,866
Earnings per common share - basic:        
Net income available for MAA common shareholders $ 1.88 $ 0.65 $ 2.29 $ 0.96
Earnings per common share - diluted:        
Net income available for MAA common shareholders $ 1.88 $ 0.65 $ 2.28 $ 0.96