MAA Equity (Tables)

6 Months Ended

Jun. 30, 2019

Summary of Changes in Total Equity and its Components

Changes in total equity and its components for the three months ended June 30, 2019 and 2018 were as follows (dollars in thousands):

	Mid-America Apartment Communities, Inc. Shareholders' Equity
	Preferred Stock		Common Stock		Additional Paid-In Capital			Accumulated Distributions in Excess of Net Income			Accumulated Other Comprehensive Loss			Noncontrolling Interests - Operating Partnership			Noncontrolling Interests - Consolidated Real Estate Entities		Total Equity
EQUITY BALANCE MARCH 31, 2019	$	9	$	1,137	$	7,141,544		$	(1,037,268	)	$	(3,300	)	$	218,011		$	5,166	$	6,325,299
Net income		—		—		—			61,917			—			2,224			—		64,141
Other comprehensive loss - derivative instruments		—		—		—			—			(5,792	)		(212	)		—		(6,004	)
Issuance and registration of common shares		—		1		(520	)		—			—			—			—		(519	)
Shares repurchased and retired		—		—		(701	)		—			—			—			—		(701	)
Exercise of stock options		—		—		1,032			—			—			—			—		1,032
Shares issued in exchange for common units		—		—		821			—			—			(821	)		—		—
Shares issued in exchange for redeemable stock		—		—		575			—			—			—			—		575
Redeemable stock fair market value adjustment		—		—		—			(835	)		—			—			—		(835	)
Adjustment for noncontrolling interests in Operating Partnership		—		—		(127	)		—			—			127			—		—
Amortization of unearned compensation		—		—		3,452			—			—			—			—		3,452
Dividends on preferred stock		—		—		—			(922	)		—			—			—		(922	)
Dividends on common stock ($0.9600 per share)		—		—		—			(109,557	)		—			—			—		(109,557	)
Dividends on noncontrolling interests units ($0.9600 per unit)		—		—		—			—			—			(3,925	)		—		(3,925	)
Contribution from noncontrolling interest		—		—		—			—			—			—			490		490
EQUITY BALANCE JUNE 30, 2019	$	9	$	1,138	$	7,146,076		$	(1,086,665	)	$	(9,092	)	$	215,404		$	5,656	$	6,272,526

	Mid-America Apartment Communities, Inc. Shareholders' Equity
	Preferred Stock		Common Stock		Additional Paid-In Capital			Accumulated Distributions in Excess of Net Income			Accumulated Other Comprehensive Income		Noncontrolling Interests - Operating Partnership			Noncontrolling Interests - Consolidated Real Estate Entities		Total Equity
EQUITY BALANCE MARCH 31, 2018	$	9	$	1,135	$	7,127,740		$	(840,642	)	$	3,000	$	226,815		$	2,306	$	6,520,363
Net income		—		—		—			59,807			—		2,174			—		61,981
Other comprehensive income - derivative instruments		—		—		—			—			4,986		179			—		5,165
Issuance and registration of common shares		—		—		(341	)		—			—		—			—		(341	)
Shares issued in exchange for common units		—		1		337			—			—		(338	)		—		—
Redeemable stock fair market value adjustment		—		—		—			(892	)		—		—			—		(892	)
Adjustment for noncontrolling interests in Operating Partnership		—		—		203			—			—		(203	)		—		—
Amortization of unearned compensation		—		—		2,963			—			—		—			—		2,963
Dividends on preferred stock		—		—		—			(922	)		—		—			—		(922	)
Dividends on common stock ($0.9225 per share)		—		—		—			(105,023	)		—		—			—		(105,023	)
Dividends on noncontrolling interests units ($0.9225 per unit)		—		—		—			—			—		(3,814	)		—		(3,814	)
EQUITY BALANCE JUNE 30, 2018	$	9	$	1,136	$	7,130,902		$	(887,672	)	$	7,986	$	224,813		$	2,306	$	6,479,480

Changes in total equity and its components for the six months ended June 30, 2019 and 2018 were as follows (dollars in thousands):

	Mid-America Apartment Communities, Inc. Shareholders' Equity
	Preferred Stock		Common Stock		Additional Paid-In Capital			Accumulated Distributions in Excess of Net Income			Accumulated Other Comprehensive Loss			Noncontrolling Interests - Operating Partnership			Noncontrolling Interests - Consolidated Real Estate Entities		Total Equity
EQUITY BALANCE DECEMBER 31, 2018	$	9	$	1,136	$	7,138,170		$	(989,263	)	$	(212	)	$	220,043		$	2,306	$	6,372,189
Net income		—		—		—			125,577			—			4,522			—		130,099
Other comprehensive loss - derivative instruments		—		—		—			—			(8,880	)		(325	)		—		(9,205	)
Issuance and registration of common shares		—		2		608			—			—			—			—		610
Shares repurchased and retired		—		—		(3,724	)		—			—			—			—		(3,724	)
Exercise of stock options		—		—		1,240			—			—			—			—		1,240
Shares issued in exchange for common units		—		—		1,157			—			—			(1,157	)		—		—
Shares issued in exchange for redeemable stock		—		—		575			—			—			—			—		575
Redeemable stock fair market value adjustment		—		—		—			(2,186	)		—			—			—		(2,186	)
Adjustment for noncontrolling interests in Operating Partnership		—		—		(187	)		—			—			187			—		—
Amortization of unearned compensation		—		—		8,237			—			—			—			—		8,237
Dividends on preferred stock		—		—		—			(1,844	)		—			—			—		(1,844	)
Dividends on common stock ($1.9200 per share)		—		—		—			(218,949	)		—			—			—		(218,949	)
Dividends on noncontrolling interests units ($1.9200 per unit)		—		—		—			—			—			(7,866	)		—		(7,866	)
Contribution from noncontrolling interest		—		—		—			—			—			—			3,350		3,350
EQUITY BALANCE JUNE 30, 2019	$	9	$	1,138	$	7,146,076		$	(1,086,665	)	$	(9,092	)	$	215,404		$	5,656	$	6,272,526

	Mid-America Apartment Communities, Inc. Shareholders' Equity
	Preferred Stock		Common Stock		Additional Paid-In Capital			Accumulated Distributions in Excess of Net Income			Accumulated Other Comprehensive Income		Noncontrolling Interests - Operating Partnership			Noncontrolling Interests - Consolidated Real Estate Entities		Total Equity
EQUITY BALANCE DECEMBER 31, 2017	$	9	$	1,134	$	7,121,112		$	(784,500	)	$	2,157	$	231,676		$	2,306	$	6,573,894
Net income		—		—		—			108,826			—		3,975			—		112,801
Other comprehensive income - derivative instruments		—		—		—			—			5,596		208			—		5,804
Issuance and registration of common shares		—		1		(237	)		—			—		—			—		(236	)
Shares repurchased and retired		—		—		(2,912	)		—			—		—			—		(2,912	)
Exercise of stock options		—		—		625			—			—		—					625
Shares issued in exchange for common units		—		1		3,117			—			—		(3,118	)		—		—
Shares issued in exchange for redeemable stock		—		—		1,915			—			—		—			—		1,915
Redeemable stock fair market value adjustment		—		—		—			73			—		—			—		73
Adjustment for noncontrolling interests in Operating Partnership		—		—		295			—			—		(295	)		—		—
Cumulative adjustment due to adoption of ASU 2017-12				—		—			(233	)		233		—			—		—
Amortization of unearned compensation		—		—		6,987			—			—		—			—		6,987
Dividends on preferred stock		—		—		—			(1,844	)		—		—			—		(1,844	)
Dividends on common stock ($1.8450 per share)		—		—		—			(209,994	)		—		—			—		(209,994	)
Dividends on noncontrolling interests units ($1.8450 per unit)		—		—		—			—			—		(7,633	)		—		(7,633	)
EQUITY BALANCE JUNE 30, 2018	$	9	$	1,136	$	7,130,902		$	(887,672	)	$	7,986	$	224,813		$	2,306	$	6,479,480