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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2023
Notes To Financial Statements [Abstract] |
Revenues and NOI for Reportable Segment | Revenues and NOI for each reportable segment for the years ended December 31, 2023, 2022 and 2021 were as follows (in thousands):
|  | 2023 |  |  | 2022 |  |  | 2021 |
Revenues: |  |  |  |  |  |  |  |  |
Same Store |  |  |  |  |  |  |  |  |
Rental revenues |  | $ | 2,013,283 |  |  | $ | 1,895,071 |  |  | $ | 1,683,380 |
Other property revenues |  |  | 11,468 |  |  |  | 11,932 |  |  |  | 11,854 |
Total Same Store revenues |  |  | 2,024,751 |  |  |  | 1,907,003 |  |  |  | 1,695,234 |
Non-Same Store and Other |  |  |  |  |  |  |  |  |
Rental revenues |  |  | 122,935 |  |  |  | 111,067 |  |  |  | 81,822 |
Other property revenues |  |  | 782 |  |  |  | 1,796 |  |  |  | 1,026 |
Total Non-Same Store and Other revenues |  |  | 123,717 |  |  |  | 112,863 |  |  |  | 82,848 |
Total rental and other property revenues |  | $ | 2,148,468 |  |  | $ | 2,019,866 |  |  | $ | 1,778,082 |
Net Operating Income: |  |  |  |  |  |  |  |  |
Same Store NOI |  | $ | 1,306,939 |  |  | $ | 1,232,893 |  |  | $ | 1,061,572 |
Non-Same Store and Other NOI |  |  | 73,388 |  |  |  | 63,279 |  |  |  | 45,345 |
Total NOI |  |  | 1,380,327 |  |  |  | 1,296,172 |  |  |  | 1,106,917 |
Depreciation and amortization |  |  | (565,063 | ) |  |  | (542,998 | ) |  |  | (533,433 | )
Property management expenses |  |  | (67,784 | ) |  |  | (65,463 | ) |  |  | (55,732 | )
General and administrative expenses |  |  | (58,578 | ) |  |  | (58,833 | ) |  |  | (52,884 | )
Interest expense |  |  | (149,234 | ) |  |  | (154,747 | ) |  |  | (156,881 | )
(Loss) gain on sale of depreciable real estate assets |  |  | (62 | ) |  |  | 214,762 |  |  |  | 220,428 |
Gain on sale of non-depreciable real estate assets |  |  | 54 |  |  |  | 809 |  |  |  | 811 |
Other non-operating income (expense) |  |  | 31,185 |  |  |  | (42,713 | ) |  |  | 33,902 |
Income tax (expense) benefit |  |  | (4,744 | ) |  |  | 6,208 |  |  |  | (13,637 | )
Income from real estate joint venture |  |  | 1,730 |  |  |  | 1,579 |  |  |  | 1,211 |
Net income attributable to noncontrolling interests |  |  | (15,025 | ) |  |  | (17,340 | ) |  |  | (16,911 | )
Dividends to MAA Series I preferred shareholders |  |  | (3,688 | ) |  |  | (3,688 | ) |  |  | (3,688 | )
Net income available for MAA common shareholders |  | $ | 549,118 |  |  | $ | 633,748 |  |  | $ | 530,103 |
Assets for Reportable Segment | Assets for each reportable segment as of December 31, 2023 and 2022 were as follows (in thousands):
|  | December 31, 2023 |  |  | December 31, 2022 |
Assets: |  |  |  |  |  |
Same Store |  | $ | 9,509,470 |  |  | $ | 9,697,889 |
Non-Same Store and Other |  |  | 1,776,165 |  |  |  | 1,370,721 |
Corporate |  |  | 198,868 |  |  |  | 172,555 |
Total assets |  | $ | 11,484,503 |  |  | $ | 11,241,165 |

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