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MAA Equity (Tables)

9 Months Ended

Sep. 30, 2021

Changes in MAA’s total equity and its components for the three months ended September 30, 2021 and 2020 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 JUNE 30, 2021	$	9	$	1,147	$	7,201,885		$	(1,272,694	)	$	(11,632	)	$	185,340		$	16,612	$	6,120,667
Net income		—		—		—			84,479			—			2,568			—		87,047
Other comprehensive income - derivative instruments		—		—		—			—			248			30			—		278
Issuance and registration of common shares		—		—		(103	)		—			—			—			—		(103	)
Exercise of stock options		—		—		12			—			—			—			—		12
Shares issued in exchange for common units		—		2		11,106			—			—			(11,108	)		—		—
Redeemable stock fair market value adjustment		—		—		—			(2,356	)		—			—			—		(2,356	)
Adjustment for noncontrolling interests in Operating Partnership		—		—		(22	)		—			—			22			—		—
Amortization of unearned compensation		—		—		4,007			—			—			—			—		4,007
Dividends on preferred stock		—		—		—			(922	)		—			—			—		(922	)
Dividends on common stock ($1.025 per share)		—		—		—			(118,018	)		—			—			—		(118,018	)
Dividends on noncontrolling interests units ($1.025 per share)		—		—		—			—			—			(3,486	)		—		(3,486	)
Contribution from noncontrolling interest		—		—		—			—			—			—			3,204		3,204
EQUITY BALANCE SEPTEMBER 30, 2021	$	9	$	1,149	$	7,216,885		$	(1,309,511	)	$	(11,384	)	$	173,366		$	19,816	$	6,090,330


	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 JUNE 30, 2020	$	9	$	1,140	$	7,168,886	$	(1,202,536	)	$	(12,665	)	$	209,894		$	6,849	$	6,171,577
Net income		—		—		—		59,910			—			2,126			—		62,036
Other comprehensive income - derivative instruments		—		—		—		—			269			10			—		279
Issuance and registration of common shares		—		—		33		—			—			—			—		33
Shares issued in exchange for common units		—		—		21		—			—			(21	)		—		—
Redeemable stock fair market value adjustment		—		—		—		(155	)		—			—			—		(155	)
Adjustment for noncontrolling interests in Operating Partnership		—		—		71		—			—			(71	)		—		—
Amortization of unearned compensation		—		—		4,380		—			—			—			—		4,380
Dividends on preferred stock		—		—		—		(922	)		—			—			—		(922	)
Dividends on common stock ($1.000 per share)		—		—		—		(114,369	)		—			—			—		(114,369	)
Dividends on noncontrolling interests units ($1.000 per share)		—		—		—		—			—			(3,866	)		—		(3,866	)
Contribution from noncontrolling interest		—		—		—		—			—			—			262		262
EQUITY BALANCE SEPTEMBER 30, 2020	$	9	$	1,140	$	7,173,391	$	(1,258,072	)	$	(12,396	)	$	208,072		$	7,111	$	6,119,255

Changes in MAA’s total equity and its components for the nine months ended September 30, 2021 and 2020 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, 2020	$	9	$	1,141	$	7,176,793		$	(1,294,182	)	$	(12,128	)	$	206,927		$	9,848	$	6,088,408
Net income		—		—		—			348,150			—			11,636			—		359,786
Other comprehensive income - derivative instruments		—		—		—			—			744			91			—		835
Issuance and registration of common shares		—		2		(438	)		—			—			—			—		(436	)
Shares repurchased and retired		—		—		(9,043	)		—			—			—			—		(9,043	)
Exercise of stock options		—		—		1,478			—			—			—			—		1,478
Shares issued in exchange for common units		—		6		33,266			—			—			(33,272	)		—		—
Redeemable stock fair market value adjustment		—		—		—			(7,545	)		—			—			—		(7,545	)
Adjustment for noncontrolling interests in Operating Partnership		—		—		678			—			—			(678	)		—		—
Amortization of unearned compensation		—		—		14,151			—			—			—			—		14,151
Dividends on preferred stock		—		—		—			(2,766	)		—			—			—		(2,766	)
Dividends on common stock ($3.075 per share)		—		—		—			(353,168	)		—			—			—		(353,168	)
Dividends on noncontrolling interests units ($3.075 per share)		—		—		—			—			—			(11,338	)		—		(11,338	)
Contribution from noncontrolling interest		—		—		—			—			—			—			9,968		9,968
EQUITY BALANCE SEPTEMBER 30, 2021	$	9	$	1,149	$	7,216,885		$	(1,309,511	)	$	(11,384	)	$	173,366		$	19,816	$	6,090,330


	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, 2019	$	9	$	1,140	$	7,166,073		$	(1,085,479	)	$	(13,178	)	$	214,647		$	6,247	$	6,289,459
Net income		—		—		—			171,620			—			6,096			—		177,716
Other comprehensive income - derivative instruments		—		—		—			—			782			28			—		810
Issuance and registration of common shares		—		—		(344	)		—			—			—			—		(344	)
Shares repurchased and retired		—		—		(5,657	)		—			—			—			—		(5,657	)
Exercise of stock options		—		—		71			—			—			—			—		71
Shares issued in exchange for common units		—		—		471			—			—			(471	)		—		—
Redeemable stock fair market value adjustment		—		—		—			1,659			—			—			—		1,659
Adjustment for noncontrolling interests in Operating Partnership		—		—		244			—			—			(244	)		—		—
Amortization of unearned compensation		—		—		12,533			—			—			—			—		12,533
Dividends on preferred stock		—		—		—			(2,766	)		—			—			—		(2,766	)
Dividends on common stock ($3.000 per share)		—		—		—			(343,106	)		—			—			—		(343,106	)
Dividends on noncontrolling interests units ($3.000 per share)		—		—		—			—			—			(11,984	)		—		(11,984	)
Contribution from noncontrolling interest		—		—		—			—			—			—			864		864
EQUITY BALANCE SEPTEMBER 30, 2020	$	9	$	1,140	$	7,173,391		$	(1,258,072	)	$	(12,396	)	$	208,072		$	7,111	$	6,119,255