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Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2021
Notes To Financial Statements [Abstract] |
Revenues and NOI for Reportable Segment | Revenues and NOI for each reportable segment for the three and nine months ended September 30, 2021 and 2020 were as follows (in thousands):
|  | Three months ended September 30, |  |  | Nine months ended September 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Same Store |  |  |  |  |  |  |  |  |  |  |  |
Rental revenues |  | $ | 431,030 |  |  | $ | 403,574 |  |  | $ | 1,249,053 |  |  | $ | 1,197,610 |
Other property revenues |  |  | 2,966 |  |  |  | 3,103 |  |  |  | 9,302 |  |  |  | 9,159 |
Total Same Store revenues |  |  | 433,996 |  |  |  | 406,677 |  |  |  | 1,258,355 |  |  |  | 1,206,769 |
Non-Same Store and Other |  |  |  |  |  |  |  |  |  |  |  |
Rental revenues |  |  | 18,449 |  |  |  | 16,447 |  |  |  | 55,372 |  |  |  | 47,438 |
Other property revenues |  |  | 130 |  |  |  | 75 |  |  |  | 780 |  |  |  | 116 |
Total Non-Same Store and Other revenues |  |  | 18,579 |  |  |  | 16,522 |  |  |  | 56,152 |  |  |  | 47,554 |
Total rental and other property revenues |  | $ | 452,575 |  |  | $ | 423,199 |  |  | $ | 1,314,507 |  |  | $ | 1,254,323 |
Net Operating Income: |  |  |  |  |  |  |  |  |  |  |  |
Same Store NOI |  | $ | 269,393 |  |  | $ | 244,513 |  |  | $ | 779,194 |  |  | $ | 747,581 |
Non-Same Store and Other NOI |  |  | 10,344 |  |  |  | 8,872 |  |  |  | 31,246 |  |  |  | 26,285 |
Total NOI |  |  | 279,737 |  |  |  | 253,385 |  |  |  | 810,440 |  |  |  | 773,866 |
Depreciation and amortization |  |  | (134,611 | ) |  |  | (127,679 | ) |  |  | (397,938 | ) |  |  | (381,257 | )
Property management expenses |  |  | (13,831 | ) |  |  | (12,691 | ) |  |  | (40,522 | ) |  |  | (39,064 | )
General and administrative expenses |  |  | (12,670 | ) |  |  | (11,360 | ) |  |  | (38,763 | ) |  |  | (35,181 | )
Interest expense |  |  | (39,234 | ) |  |  | (41,010 | ) |  |  | (117,773 | ) |  |  | (126,610 | )
(Loss) gain on sale of depreciable real estate assets |  |  | (313 | ) |  |  | 20 |  |  |  | 134,515 |  |  |  | (7 | )
Gain on sale of non-depreciable real estate assets |  |  | 170 |  |  |  | 1,366 |  |  |  | 202 |  |  |  | 995 |
Other non-operating income (expense) |  |  | 10,344 |  |  |  | 242 |  |  |  | 14,557 |  |  |  | (13,647 | )
Income tax expense |  |  | (2,803 | ) |  |  | (665 | ) |  |  | (5,847 | ) |  |  | (2,532 | )
Income from real estate joint venture |  |  | 258 |  |  |  | 428 |  |  |  | 915 |  |  |  | 1,153 |
Net income attributable to noncontrolling interests |  |  | (2,568 | ) |  |  | (2,126 | ) |  |  | (11,636 | ) |  |  | (6,096 | )
Dividends to MAA Series I preferred shareholders |  |  | (922 | ) |  |  | (922 | ) |  |  | (2,766 | ) |  |  | (2,766 | )
Net income available for MAA common shareholders |  | $ | 83,557 |  |  | $ | 58,988 |  |  | $ | 345,384 |  |  | $ | 168,854 |
Assets for Reportable Segment | Assets for each reportable segment as of September 30, 2021 and December 31, 2020 were as follows (in thousands):
|  | September 30, 2021 |  |  | December 31, 2020 |
Assets: |  |  |  |  |  |
Same Store |  | $ | 9,910,526 |  |  | $ | 10,076,511 |
Non-Same Store and Other |  |  | 1,140,873 |  |  |  | 937,375 |
Corporate assets |  |  | 202,733 |  |  |  | 180,905 |
Total assets |  | $ | 11,254,132 |  |  | $ | 11,194,791 |

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