Changes in MAA’s total equity and its components for the three months ended September 30, 2023 and 2022 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, 2023	$	9	$	1,168	$	7,405,572		$	(1,235,118	)	$	(9,514	)	$	165,626		$	22,329	$	6,350,072
Net income		—		—		—			110,732			—			3,000			—		113,732
Other comprehensive income - derivative instruments		—		—		—			—			270			9			—		279
Issuance and registration of common shares		—		—		158			—			—			—			—		158
Shares repurchased and retired		—		—		(26	)		—			—			—			—		(26	)
Shares issued in exchange for common units		—		—		363			—			—			(363	)		—		—
Redeemable stock fair market value adjustment		—		—		—			3,242			—			—			—		3,242
Adjustment for noncontrolling interests in Operating Partnership		—		—		(86	)		—			—			86			—		—
Amortization of unearned compensation		—		—		4,128			—			—			—			—		4,128
Dividends on preferred stock		—		—		—			(922	)		—			—			—		(922	)
Dividends on common stock ($1.4000 per share)		—		—		—			(163,362	)		—			—			—		(163,362	)
Dividends on noncontrolling interests units ($1.4000 per share)		—		—		—			—			—			(4,408	)		—		(4,408	)
Contribution from noncontrolling interest		—		—		—			—			—			—			696		696
EQUITY BALANCE SEPTEMBER 30, 2023	$	9	$	1,168	$	7,410,109		$	(1,285,428	)	$	(9,244	)	$	163,950		$	23,025	$	6,303,589


	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, 2022	$	9	$	1,152	$	7,191,920		$	(1,199,216	)	$	(10,591	)	$	165,062		$	19,780	$	6,168,116
Net income		—		—		—			122,311			—			3,392			—		125,703
Other comprehensive income - derivative instruments		—		—		—			—			270			9			—		279
Issuance and registration of common shares		—		—		156			—			—			—			—		156
Shares repurchased and retired		—		—		(12	)		—			—			—			—		(12	)
Shares issued in exchange for common units		—		—		307			—			—			(307	)		—		—
Redeemable stock fair market value adjustment		—		—		—			2,537			—			—			—		2,537
Adjustment for noncontrolling interests in Operating Partnership		—		—		(70	)		—			—			70			—		—
Amortization of unearned compensation		—		—		4,203			—			—			—			—		4,203
Dividends on preferred stock		—		—		—			(922	)		—			—			—		(922	)
Dividends on common stock ($1.2500 per share)		—		—		—			(144,309	)		—			—			—		(144,309	)
Dividends on noncontrolling interests units ($1.2500 per share)		—		—		—			—			—			(3,996	)		—		(3,996	)
EQUITY BALANCE SEPTEMBER 30, 2022	$	9	$	1,152	$	7,196,504		$	(1,219,599	)	$	(10,321	)	$	164,230		$	19,780	$	6,151,755

Changes in MAA’s total equity and its components for the nine months ended September 30, 2023 and 2022 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, 2022	$	9	$	1,152	$	7,202,834		$	(1,188,854	)	$	(10,052	)	$	163,595		$	21,064	$	6,189,748
Net income		—		—		—			392,330			—			10,633			—		402,963
Other comprehensive income - derivative instruments		—		—		—			—			808			27			—		835
Issuance and registration of common shares		—		12		203,202			—			—			—			—		203,214
Shares repurchased and retired		—		—		(7,866	)		—			—			—			—		(7,866	)
Shares issued in exchange for common units		—		—		894			—			—			(894	)		—		—
Shares issued in exchange for redeemable stock		—		4		577			—			—			—			—		581
Redeemable stock fair market value adjustment		—		—		—			3,906			—			—			—		3,906
Adjustment for noncontrolling interests in Operating Partnership		—		—		(3,831	)		—			—			3,831			—		—
Amortization of unearned compensation		—		—		14,299			—			—			—			—		14,299
Dividends on preferred stock		—		—					(2,766	)		—			—			—		(2,766	)
Dividends on common stock ($4.2000 per share)		—		—		—			(490,044	)		—			—			—		(490,044	)
Dividends on noncontrolling interests units ($4.2000 per share)		—		—		—			—			—			(13,242	)		—		(13,242	)
Contribution from noncontrolling interest		—		—		—			—			—			—			1,961		1,961
EQUITY BALANCE SEPTEMBER 30, 2023	$	9	$	1,168	$	7,410,109		$	(1,285,428	)	$	(9,244	)	$	163,950		$	23,025	$	6,303,589


	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, 2021	$	9	$	1,151	$	7,230,956		$	(1,255,807	)	$	(11,132	)	$	165,116		$	23,614		$	6,153,907
Net income (loss)		—		—		—			443,815			—			12,318			(293	)		455,840
Other comprehensive income - derivative instruments		—		—		—			—			811			24			—			835
Issuance and registration of common shares		—		1		(277	)		—			—			—			—			(276	)
Shares repurchased and retired		—		—		(14,043	)		—			—			—			—			(14,043	)
Exercise of stock options		—		—		28			—			—			—			—			28
Shares issued in exchange for common units		—		—		500			—			—			(500	)		—			—
Redeemable stock fair market value adjustment		—		—		—			9,297			—			—			—			9,297
Adjustment for noncontrolling interests in Operating Partnership		—		—		1,251			—			—			(1,251	)		—			—
Amortization of unearned compensation		—		—		15,532			—			—			—			—			15,532
Dividends on preferred stock		—		—		—			(2,766	)		—			—			—			(2,766	)
Dividends on common stock ($3.5875 per share)		—		—		—			(414,138	)		—			—			—			(414,138	)
Dividends on noncontrolling interests units ($3.5875 per share)		—		—		—			—			—			(11,477	)		—			(11,477	)
Acquisition of noncontrolling interest		—		—		(37,443	)		—			—			—			(5,627	)		(43,070	)
Contribution from noncontrolling interest		—		—		—			—			—			—			2,086			2,086
EQUITY BALANCE SEPTEMBER 30, 2022	$	9	$	1,152	$	7,196,504		$	(1,219,599	)	$	(10,321	)	$	164,230		$	19,780		$	6,151,755