XML 48 R31.htm IDEA: XBRL DOCUMENT v3.7.0.1
Segment Information (Tables)
 3 Months Ended
Mar. 31, 2017
Notes To Financial Statements [Abstract]  
Revenues and NOI for Reportable Segment
Revenues and NOI for each reportable segment for the three month periods ended March 31, 2017 and 2016 were as follows (dollars in thousands):
 
Three months ended March 31,
 
2017
 
2016
Revenues:
 
 
 
Large Market Same Store
$
166,258

 
$
160,192

Secondary Market Same Store
86,147

 
84,093

Non-Same Store and Other
126,503

 
24,731

Total operating revenues
$
378,908

 
$
269,016

 
 
 
 
NOI:
 

 
 

Large Market Same Store
$
104,747

 
$
99,527

Secondary Market Same Store
54,238

 
53,394

Non-Same Store and Other
78,650

 
15,214

Total NOI
237,635

 
168,135

Depreciation and amortization
(129,997
)
 
(75,127
)
Acquisition expenses
—

 
(713
)
Property management expenses
(10,981
)
 
(9,004
)
General and administrative expenses
(12,840
)
 
(6,582
)
Merger related expenses
(2,871
)
 
—

Integration costs
(3,290
)
 
—

Interest and other non-property income
2,679

 
32

Interest expense
(36,584
)
 
(32,211
)
Gain on debt extinguishment/modification
123

 
3

(Loss) gain on sale of depreciable real estate assets
(73
)
 
755

Net casualty loss after insurance and other settlement proceeds
(91
)
 
(947
)
Income tax expense
(651
)
 
(288
)
Gain on sale of non-depreciable real estate assets
—

 
1,627

Gain from real estate joint ventures
357

 
128

Net income attributable to noncontrolling interests
(1,511
)
 
(2,395
)
Preferred Dividends
(922
)
 
—

Net income available for MAA common shareholders
$
40,983

 
$
43,413
Assets for Reportable Segment
Assets for each reportable segment as of March 31, 2017 and December 31, 2016, were as follows (dollars in thousands):

 
March 31, 2017
 
December 31, 2016
Assets:
 
 
 
Large Market Same Store
$
4,083,791

 
$
4,126,885

Secondary Market Same Store
1,752,043

 
1,768,183

Non-Same Store and Other
5,549,507

 
5,479,780

Corporate assets
174,358

 
229,643

Total assets
$
11,559,699

 
$
11,604,491