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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Rental and other property revenues $ 542,042 $ 520,783 $ 1,606,221 $ 1,491,901
Expenses:        
Operating expenses, excluding real estate taxes and insurance 122,660 117,390 347,868 328,514
Real estate taxes and insurance 76,563 74,033 228,491 214,006
Depreciation and amortization 146,702 136,879 424,175 404,761
Total property operating expenses 345,925 328,302 1,000,534 947,281
Property management expenses 16,298 16,262 50,317 48,429
General and administrative expenses 13,524 12,188 43,329 44,091
Interest expense 36,651 38,637 110,655 116,663
Loss (gain) on sale of depreciable real estate assets 75 1 61 (131,963)
Gain on sale of non-depreciable real estate assets 0 (431) (54) (809)
Other non-operating expense (income) 16,493 1,718 (3,966) 19,248
Income before income tax benefit (expense) 113,076 124,106 405,345 448,961
Income tax benefit (expense) 209 1,256 (3,596) 5,750
Income from continuing operations before real estate joint venture activity 113,285 125,362 401,749 454,711
Income from real estate joint venture 447 341 1,214 1,129
Net income 113,732 125,703 402,963 455,840
Net income (loss) attributable to noncontrolling interests 3,000 3,392 10,633 12,025
Net income available for shareholders 110,732 122,311 392,330 443,815
Dividends to MAA Series I preferred shareholders 922 922 2,766 2,766
Net income available for MAA common shareholders $ 109,810 $ 121,389 $ 389,564 $ 441,049
Earnings per common share - basic:        
Net income available for MAA common shareholders $ 0.94 $ 1.05 $ 3.34 $ 3.82
Earnings per common share - diluted:        
Net income available for MAA common shareholders $ 0.94 $ 1.05 $ 3.34 $ 3.82
Limited Partnership [Member]        
Revenues:        
Rental and other property revenues $ 542,042 $ 520,783 $ 1,606,221 $ 1,491,901
Expenses:        
Operating expenses, excluding real estate taxes and insurance 122,660 117,390 347,868 328,514
Real estate taxes and insurance 76,563 74,033 228,491 214,006
Depreciation and amortization 146,702 136,879 424,175 404,761
Total property operating expenses 345,925 328,302 1,000,534 947,281
Property management expenses 16,298 16,262 50,317 48,429
General and administrative expenses 13,524 12,188 43,329 44,091
Interest expense 36,651 38,637 110,655 116,663
Loss (gain) on sale of depreciable real estate assets 75 1 61 (131,963)
Gain on sale of non-depreciable real estate assets 0 (431) (54) (809)
Other non-operating expense (income) 16,493 1,718 (3,966) 19,248
Income before income tax benefit (expense) 113,076 124,106 405,345 448,961
Income tax benefit (expense) 209 1,256 (3,596) 5,750
Income from continuing operations before real estate joint venture activity 113,285 125,362 401,749 454,711
Income from real estate joint venture 447 341 1,214 1,129
Net income 113,732 125,703 402,963 455,840
Net income (loss) attributable to noncontrolling interests 0 0 0 (293)
Net income available for shareholders 113,732 125,703 402,963 456,133
Dividends to MAA Series I preferred shareholders 922 922 2,766 2,766
Net income available for MAA common shareholders $ 112,810 $ 124,781 $ 400,197 $ 453,367
Earnings per common share - basic:        
Net income available for MAALP common unitholders $ 0.94 $ 1.05 $ 3.34 $ 3.82
Earnings per common share - diluted:        
Net income available for MAALP common unitholders $ 0.94 $ 1.05 $ 3.34 $ 3.82