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Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2024
Notes To Financial Statements [Abstract] |
Revenues and NOI for Reportable Segment | Revenues and NOI for each reportable segment for the three months ended March 31, 2024 and 2023 were as follows (in thousands):
|  | Three months ended March 31, |
|  | 2024 |  |  | 2023 |
Revenues: |  |  |  |  |  |
Same Store |  |  |  |  |  |
Rental revenues |  | $ | 516,945 |  |  | $ | 509,600 |
Other property revenues |  |  | 2,684 |  |  |  | 2,831 |
Total Same Store revenues |  |  | 519,629 |  |  |  | 512,431 |
Non-Same Store and Other |  |  |  |  |  |
Rental revenues |  |  | 22,872 |  |  |  | 16,493 |
Other property revenues |  |  | 1,121 |  |  |  | 109 |
Total Non-Same Store and Other revenues |  |  | 23,993 |  |  |  | 16,602 |
Total rental and other property revenues |  | $ | 543,622 |  |  | $ | 529,033 |
Net Operating Income: |  |  |  |  |  |
Same Store NOI |  | $ | 334,583 |  |  | $ | 336,929 |
Non-Same Store and Other NOI |  |  | 11,237 |  |  |  | 9,301 |
Total NOI |  |  | 345,820 |  |  |  | 346,230 |
Depreciation and amortization |  |  | (143,020 | ) |  |  | (138,501 | )
Property management expenses |  |  | (19,995 | ) |  |  | (17,928 | )
General and administrative expenses |  |  | (17,045 | ) |  |  | (15,923 | )
Interest expense |  |  | (40,361 | ) |  |  | (37,281 | )
(Loss) gain on sale of depreciable real estate assets |  |  | (2 | ) |  |  | 15 |
Gain on sale of non-depreciable real estate assets |  |  | — |  |  |  | 54 |
Other non-operating income |  |  | 23,526 |  |  |  | 3,467 |
Income tax expense |  |  | (1,795 | ) |  |  | (944 | )
Income from real estate joint venture |  |  | 482 |  |  |  | 385 |
Net income attributable to noncontrolling interests |  |  | (3,861 | ) |  |  | (3,664 | )
Dividends to MAA Series I preferred shareholders |  |  | (922 | ) |  |  | (922 | )
Net income available for MAA common shareholders |  | $ | 142,827 |  |  | $ | 134,988 |
Assets for Reportable Segment | Assets for each reportable segment as of March 31, 2024 and December 31, 2023 were as follows (in thousands):
|  | March 31, 2024 |  |  | December 31, 2023 |
Assets: |  |  |  |  |  |
Same Store |  | $ | 9,812,519 |  |  | $ | 9,893,858 |
Non-Same Store and Other |  |  | 1,434,438 |  |  |  | 1,391,777 |
Corporate |  |  | 223,775 |  |  |  | 198,868 |
Total assets |  | $ | 11,470,732 |  |  | $ | 11,484,503 |

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