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v3.22.2.2

Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2022
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, 2022 and 2021 were as follows (in thousands):
|  | Three months ended September 30, |  |  | Nine months ended September 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Same Store |  |  |  |  |  |  |  |  |  |  |  |
Rental revenues |  | $ | 492,215 |  |  | $ | 429,267 |  |  | $ | 1,412,358 |  |  | $ | 1,243,540 |
Other property revenues |  |  | 3,162 |  |  |  | 2,939 |  |  |  | 9,656 |  |  |  | 9,215 |
Total Same Store revenues |  |  | 495,377 |  |  |  | 432,206 |  |  |  | 1,422,014 |  |  |  | 1,252,755 |
Non-Same Store and Other |  |  |  |  |  |  |  |  |  |  |  |
Rental revenues |  |  | 24,278 |  |  |  | 20,210 |  |  |  | 68,382 |  |  |  | 60,885 |
Other property revenues |  |  | 1,128 |  |  |  | 159 |  |  |  | 1,505 |  |  |  | 867 |
Total Non-Same Store and Other revenues |  |  | 25,406 |  |  |  | 20,369 |  |  |  | 69,887 |  |  |  | 61,752 |
Total rental and other property revenues |  | $ | 520,783 |  |  | $ | 452,575 |  |  | $ | 1,491,901 |  |  | $ | 1,314,507 |
Net Operating Income: |  |  |  |  |  |  |  |  |  |  |  |
Same Store NOI |  | $ | 315,616 |  |  | $ | 268,882 |  |  | $ | 910,496 |  |  | $ | 777,147 |
Non-Same Store and Other NOI |  |  | 13,744 |  |  |  | 10,855 |  |  |  | 38,885 |  |  |  | 33,293 |
Total NOI |  |  | 329,360 |  |  |  | 279,737 |  |  |  | 949,381 |  |  |  | 810,440 |
Depreciation and amortization |  |  | (136,879 | ) |  |  | (134,611 | ) |  |  | (404,761 | ) |  |  | (397,938 | )
Property management expenses |  |  | (16,262 | ) |  |  | (13,831 | ) |  |  | (48,429 | ) |  |  | (40,522 | )
General and administrative expenses |  |  | (12,188 | ) |  |  | (12,670 | ) |  |  | (44,091 | ) |  |  | (38,763 | )
Interest expense |  |  | (38,637 | ) |  |  | (39,234 | ) |  |  | (116,663 | ) |  |  | (117,773 | )
(Loss) gain on sale of depreciable real estate assets |  |  | (1 | ) |  |  | (313 | ) |  |  | 131,963 |  |  |  | 134,515 |
Gain on sale of non-depreciable real estate assets |  |  | 431 |  |  |  | 170 |  |  |  | 809 |  |  |  | 202 |
Other non-operating (expense) income |  |  | (1,718 | ) |  |  | 10,344 |  |  |  | (19,248 | ) |  |  | 14,557 |
Income tax benefit (expense) |  |  | 1,256 |  |  |  | (2,803 | ) |  |  | 5,750 |  |  |  | (5,847 | )
Income from real estate joint venture |  |  | 341 |  |  |  | 258 |  |  |  | 1,129 |  |  |  | 915 |
Net income attributable to noncontrolling interests |  |  | (3,392 | ) |  |  | (2,568 | ) |  |  | (12,025 | ) |  |  | (11,636 | )
Dividends to MAA Series I preferred shareholders |  |  | (922 | ) |  |  | (922 | ) |  |  | (2,766 | ) |  |  | (2,766 | )
Net income available for MAA common shareholders |  | $ | 121,389 |  |  | $ | 83,557 |  |  | $ | 441,049 |  |  | $ | 345,384 |
Assets for Reportable Segment | Assets for each reportable segment as of September 30, 2022 and December 31, 2021 were as follows (in thousands):
|  | September 30, 2022 |  |  | December 31, 2021 |
Assets: |  |  |  |  |  |
Same Store |  | $ | 9,767,996 |  |  | $ | 9,907,740 |
Non-Same Store and Other |  |  | 1,390,173 |  |  |  | 1,106,039 |
Corporate assets |  |  | 180,058 |  |  |  | 271,403 |
Total assets |  | $ | 11,338,227 |  |  | $ | 11,285,182 |

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