$MAA
MID AMERICA APARTMENT COMMUNITIES INC.

2014 Q2 Form 10-Q Financial Statement

#000091259514000013 Filed on May 02, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2014 Q1 2013 Q4
Revenue $245.3M $243.5M $240.4M
YoY Change 102.28% 90.34% 103.29%
Cost Of Revenue $82.30M $79.70M $77.40M
YoY Change 88.76% 91.59% 95.95%
Gross Profit $163.0M $164.5M $163.0M
YoY Change 84.81% 90.61% 95.44%
Gross Profit Margin 66.45% 67.56% 67.8%
Selling, General & Admin $30.40M $29.30M $29.90M
YoY Change 70.79% 70.35% 79.04%
% of Gross Profit 18.65% 17.81% 18.34%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $70.60M $91.50M $87.50M
YoY Change 107.65% 193.38% 153.62%
% of Gross Profit 43.31% 55.62% 53.68%
Operating Expenses $100.0M $119.3M $119.7M
YoY Change 99.6% 141.5% 148.34%
Operating Profit $63.00M $45.20M $43.30M
YoY Change 111.03% 30.76% 31.86%
Interest Expense -$30.40M -$31.80M -$30.50M
YoY Change -314.7% -325.34% -320.03%
% of Operating Profit -48.25% -70.35% -70.44%
Other Income/Expense, Net -$300.0K $0.00 -$600.0K
YoY Change 5900.0% -100.0%
Pretax Income $31.00M $10.60M -$14.80M
YoY Change 101.78% -46.09% -181.77%
Income Tax $500.0K $300.0K $200.0K
% Of Pretax Income 1.61% 2.83%
Net Earnings $31.60M $14.87M -$9.200M
YoY Change -33.82% -29.81% -141.24%
Net Earnings / Revenue 12.88% 6.11% -3.83%
Basic Earnings Per Share
Diluted Earnings Per Share $416.9K $198.7K -$115.9K
COMMON SHARES
Basic Shares Outstanding 75.01B shares 74.97M shares 74.78B shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q2 2014 Q1 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $26.00M $122.0M $89.00M
YoY Change 188.89% 1425.0% 888.89%
Cash & Equivalents $26.00M $122.0M $89.00M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $26.00M $122.0M $89.00M
YoY Change 188.89% 1425.0% 888.89%
LONG-TERM ASSETS
Property, Plant & Equipment $6.581B $6.511B $6.551B
YoY Change 139.83% 139.73% 143.62%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $3.000M $3.000M $5.000M
YoY Change 0.0% 200.0% 0.0%
Other Assets $117.0M $88.00M $101.0M
YoY Change 277.42% 528.57% 573.33%
Total Long-Term Assets $6.757B $6.664B $6.753B
YoY Change 158.72% 161.59% 146.27%
TOTAL ASSETS
Total Short-Term Assets $26.00M $122.0M $89.00M
Total Long-Term Assets $6.757B $6.664B $6.753B
Total Assets $6.783B $6.786B $6.842B
YoY Change 158.82% 165.54% 148.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.00M $15.00M $15.00M
YoY Change 50.0% 150.0% 200.0%
Accrued Expenses $202.0M $198.0M $206.0M
YoY Change 110.42% 130.23% 116.84%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $227.0M $223.0M $230.0M
YoY Change 100.88% 125.25% 114.95%
LONG-TERM LIABILITIES
Long-Term Debt $3.475B $3.463B $3.473B
YoY Change 105.38% 104.79% 107.47%
Other Long-Term Liabilities $18.00M $18.00M $20.00M
YoY Change 50.0% 5.88% -4.76%
Total Long-Term Liabilities $3.493B $3.481B $3.493B
YoY Change 104.99% 103.81% 106.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $227.0M $223.0M $230.0M
Total Long-Term Liabilities $3.493B $3.481B $3.493B
Total Liabilities $3.883B $3.867B $3.890B
YoY Change 111.59% 113.85% 115.96%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.900B $2.918B $2.952B
YoY Change
Total Liabilities & Shareholders Equity $6.783B $6.786B $6.842B
YoY Change 158.82% 165.56% 148.7%

Cashflow Statement

Concept 2014 Q2 2014 Q1 2013 Q4
OPERATING ACTIVITIES
Net Income $31.60M $14.87M -$9.200M
YoY Change -33.82% -29.81% -141.24%
Depreciation, Depletion And Amortization $70.60M $91.50M $87.50M
YoY Change 107.65% 193.38% 153.62%
Cash From Operating Activities $92.30M $96.10M $89.60M
YoY Change 37.15% 169.63% 69.06%
INVESTING ACTIVITIES
Capital Expenditures -$168.8M -$78.10M -$96.90M
YoY Change 100.71% 38.72% 207.62%
Acquisitions
YoY Change
Other Investing Activities $14.00M $106.4M $107.5M
YoY Change -78.19% 2028.0% 714.39%
Cash From Investing Activities -$154.8M $28.30M $10.60M
YoY Change 674.0% -156.82% -158.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -33.30M -91.80M -191.9M
YoY Change -28.69% -782.58% 390.79%
NET CHANGE
Cash From Operating Activities 92.30M 96.10M 89.60M
Cash From Investing Activities -154.8M 28.30M 10.60M
Cash From Financing Activities -33.30M -91.80M -191.9M
Net Change In Cash -95.80M 32.60M -91.70M
YoY Change -16066.67% -4665.83% 2032.56%
FREE CASH FLOW
Cash From Operating Activities $92.30M $96.10M $89.60M
Capital Expenditures -$168.8M -$78.10M -$96.90M
Free Cash Flow $261.1M $174.2M $186.5M
YoY Change 72.46% 89.47% 120.71%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2013Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-21869000 USD
CY2014Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
2691000 USD
CY2012Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-26054000 USD
CY2013Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
108000 USD
CY2014Q1 us-gaap Assets
Assets
6785663000 USD
CY2013Q4 us-gaap Assets
Assets
6841925000 USD
CY2013Q1 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
10000 USD
CY2014Q1 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
11000 USD
CY2013Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.695
CY2014Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
75009303 shares
CY2013Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
42683322 shares
CY2014Q1 us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
0.36 shares
CY2014Q1 us-gaap Credit Derivative Collateral Held Directly Or By Third Parties
CreditDerivativeCollateralHeldDirectlyOrByThirdParties
Certain of our derivative contracts are credit enhanced by either FNMA or Freddie Mac.  These derivative contracts require that our credit enhancing party maintain credit ratings above a certain level.  If our credit support providers were downgraded below Baa1 by Moody’s or BBB+ by Standard & Poor’s, or S&P, we may be required to either post 100 percent collateral or settle the obligations at their termination value of $9.7 million as of September 30, 2013.  Both FNMA and Freddie Mac are currently rated Aaa by Moody’s and AA+ by S&P, and therefore, the provisions of this agreement have not been breached and no collateral has been posted related to these agreements as of September 30, 2013.
CY2014Q1 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.038
CY2014Q1 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2018-06-24
CY2013Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
32195000 USD
CY2014Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
90013000 USD
CY2013Q4 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
0 USD
CY2014Q1 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
0 USD
CY2014Q1 us-gaap Derivative Credit Risk Related Contingent Features Existence And Nature
DerivativeCreditRiskRelatedContingentFeaturesExistenceAndNature
Certain of our derivative contracts contain a provision where if we default on any of our indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then we could also be declared in default on our derivative obligations. As of September 30, 2013, we had not breached the provisions of these agreements.  If we had breached these provisions, we could have been required to settle our obligations under the agreements at their termination value of $6.7 million.
CY2013Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
444000 USD
CY2014Q1 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
524000 USD
CY2013Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
444000 USD
CY2014Q1 us-gaap Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
524000 USD
CY2013Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
0 USD
CY2014Q1 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
0 USD
CY2014Q1 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
17937000 USD
CY2013Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
20015000 USD
CY2013Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
20015000 USD
CY2014Q1 us-gaap Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstCollateral
17937000 USD
CY2014Q1 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
0 USD
CY2013Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
0 USD
CY2013Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
0 USD
CY2014Q1 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
-97000 USD
CY2013Q1 us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
-4545000 USD
CY2014Q1 us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
-3725000 USD
CY2014Q1 us-gaap Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net
DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet
-4000 USD
CY2013Q1 us-gaap Derivative Instruments Gain Loss Recognized In Income Ineffective Portion And Amount Excluded From Effectiveness Testing Net
DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet
4000 USD
CY2013Q1 us-gaap Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet
-179000 USD
CY2014Q1 us-gaap Derivative Instruments Gain Loss Recognized In Other Comprehensive Income Effective Portion Net
DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet
-997000 USD
CY2014Q1 us-gaap Derivatives Methods Of Accounting Nonhedging Derivatives
DerivativesMethodsOfAccountingNonhedgingDerivatives
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Derivatives not designated as hedges are not speculative and are used to manage the Company's exposure to interest rate movements and other identified risks but do not meet the strict hedge accounting requirements of FASB ASC 815, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Derivatives and Hedging</font><font style="font-family:inherit;font-size:10pt;">. Changes in the fair value of derivatives not designated in hedging relationships are recorded directly in earnings and resulted in a loss of </font><font style="font-family:inherit;font-size:10pt;">$69,000</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2014</font><font style="font-family:inherit;font-size:10pt;"> and a loss of </font><font style="font-family:inherit;font-size:10pt;">$13,000</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2013</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>
CY2013Q1 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
3191000 USD
CY2014Q1 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
1599000 USD
CY2013Q1 us-gaap Distribution Made To Limited Partner Distributions Declared Per Unit
DistributionMadeToLimitedPartnerDistributionsDeclaredPerUnit
0.6950
CY2014Q1 us-gaap Distribution Made To Limited Partner Distributions Declared Per Unit
DistributionMadeToLimitedPartnerDistributionsDeclaredPerUnit
0.7300
CY2014Q1 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
3100000 USD
CY2013Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3239000 USD
CY2014Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4342000 USD
CY2014Q1 us-gaap General Partners Capital Account Units Outstanding
GeneralPartnersCapitalAccountUnitsOutstanding
75009303 shares
CY2013Q1 us-gaap General Partners Capital Account Units Outstanding
GeneralPartnersCapitalAccountUnitsOutstanding
42683322 shares
CY2014Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
9285000 USD
CY2013Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
19463000 USD
CY2014Q1 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
-534000 USD
CY2013Q1 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
-760000 USD
CY2014Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
9819000 USD
CY2013Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
20223000 USD
CY2014Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
5895000 USD
CY2013Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
1782000 USD
CY2014Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
-314000 USD
CY2013Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
-65000 USD
CY2013Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
1717000 USD
CY2014Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
5581000 USD
CY2014Q1 us-gaap Interest Rate Cash Flow Hedge Asset At Fair Value
InterestRateCashFlowHedgeAssetAtFairValue
441000 USD
CY2013Q4 us-gaap Interest Rate Cash Flow Hedge Asset At Fair Value
InterestRateCashFlowHedgeAssetAtFairValue
396000 USD
CY2013Q4 us-gaap Interest Rate Cash Flow Hedge Liability At Fair Value
InterestRateCashFlowHedgeLiabilityAtFairValue
20015000 USD
CY2014Q1 us-gaap Interest Rate Cash Flow Hedge Liability At Fair Value
InterestRateCashFlowHedgeLiabilityAtFairValue
17937000 USD
CY2013Q4 us-gaap Interest Rate Derivative Assets At Fair Value
InterestRateDerivativeAssetsAtFairValue
444000 USD
CY2014Q1 us-gaap Interest Rate Derivative Assets At Fair Value
InterestRateDerivativeAssetsAtFairValue
524000 USD
CY2013Q4 us-gaap Interest Rate Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value
InterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue
49000 USD
CY2014Q1 us-gaap Interest Rate Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value
InterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue
83000 USD
CY2014Q1 us-gaap Interest Rate Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value
InterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLiabilityAtFairValue
0 USD
CY2013Q4 us-gaap Interest Rate Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value
InterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstrumentsLiabilityAtFairValue
0 USD
CY2013Q4 us-gaap Interest Rate Derivative Liabilities At Fair Value
InterestRateDerivativeLiabilitiesAtFairValue
20015000 USD
CY2014Q1 us-gaap Interest Rate Derivative Liabilities At Fair Value
InterestRateDerivativeLiabilitiesAtFairValue
17937000 USD
CY2014Q1 us-gaap Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest
0.947
CY2013Q1 us-gaap Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest
0.962
CY2013Q1 us-gaap Limited Partners Capital Account
LimitedPartnersCapitalAccount
117931000 USD
CY2014Q1 us-gaap Limited Partners Capital Account
LimitedPartnersCapitalAccount
287316070 USD
CY2013Q1 us-gaap Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
1707660 shares
CY2014Q1 us-gaap Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
4208526 shares
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
14866000 USD
CY2013Q1 us-gaap Net Income Loss
NetIncomeLoss
21180000 USD
CY2013Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
825000 USD
CY2014Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
848000 USD
CY2014Q1 us-gaap Notes Payable
NotesPayable
3463059000 USD
CY2013Q4 us-gaap Notes Payable
NotesPayable
3470000000 USD
CY2014Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
271 Property
CY2014Q1 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
14 States
CY2014Q1 us-gaap Number Of Units In Real Estate Property
NumberOfUnitsInRealEstateProperty
82730
CY2013Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
181000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
145000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
4185000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2583000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-3725000 USD
CY2013Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax
-4545000 USD
CY2014Q1 us-gaap Owned Property Management Costs
OwnedPropertyManagementCosts
7011000 USD
CY2013Q1 us-gaap Owned Property Management Costs
OwnedPropertyManagementCosts
5108000 USD
CY2014Q1 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
243390000 USD
CY2013Q1 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
127743000 USD
CY2014Q1 us-gaap Revenues
Revenues
243487000 USD
CY2013Q1 us-gaap Revenues
Revenues
127920000 USD
CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
296583 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
0 shares
CY2014Q1 us-gaap Stock Issued During Period Shares Acquisitions
StockIssuedDuringPeriodSharesAcquisitions
31916765 shares
CY2014Q1 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
340 shares
CY2013Q1 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
141 shares
CY2013Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
4582 shares
CY2014Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
6554 shares
CY2014Q1 maa Apartment Community Population
ApartmentCommunityPopulation
1000000 individual
CY2014Q1 maa Business Combinations Conversion Rateof Sharesand Units
BusinessCombinationsConversionRateofSharesandUnits
0.36
CY2014Q1 maa Business Combinations Other Consideration
BusinessCombinationsOtherConsideration
7300000 USD
CY2014Q1 maa Common Shares And Operating Partnership Units Outstanding
CommonSharesAndOperatingPartnershipUnitsOutstanding
79217829 shares
CY2013Q1 maa Common Shares And Operating Partnership Units Outstanding
CommonSharesAndOperatingPartnershipUnitsOutstanding
44390982 shares
CY2014Q1 maa Credit Risk Related Contingent Features Termination Value
CreditRiskRelatedContingentFeaturesTerminationValue
4700000 USD
CY2014Q1 maa New Accounting Pronouncements
NewAccountingPronouncements
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#160;Recent Accounting Pronouncements</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Impact of Recently Issued Accounting Standards</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In April 2014, the FASB issued ASU No. 2014-08, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity</font><font style="font-family:inherit;font-size:10pt;">. ASU 2014-08 raises the threshold for disposals to qualify as discontinued operations. It also requires additional disclosures for discontinued operations and new disclosures for individually material disposal transactions that do not meet the definition of a discontinued operation. The ASU is effective for fiscal years beginning after December 15, 2014, and interim periods within those years; however, early adoption is permitted beginning in the first quarter of 2014. We adopted ASU 2014-08 during the period ending March 31, 2014. The adoption of ASU 2014-08 required us to not classify certain disposals occurring during the first quarter of 2014 as discontinued operations.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In January 2013, the FASB issued ASU No. 2013-01, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities</font><font style="font-family:inherit;font-size:10pt;">. ASU 2013-01 clarifies that the scope of ASU 2011-11, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Disclosures about Offsetting Assets and Liabilities</font><font style="font-family:inherit;font-size:10pt;">, would apply to derivatives accounted for in accordance with FASB ASC 815, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Derivatives and Hedging</font><font style="font-family:inherit;font-size:10pt;">, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are either offset in accordance with ASC 210-20-45 or ASC 815-10-45 or subject to an enforceable master netting arrangement or similar agreement. This ASU is effective for fiscal years beginning on or after January 1, 2013 and interim periods within those annual periods. We adopted ASU 2013-01 during the period ended March 31, 2013. The adoption of ASU 2013-01 has not had a material impact on our consolidated financial condition or results of operations taken as a whole.</font></div></div>
CY2014Q1 maa Number Of Properties Sold
NumberOfPropertiesSold
1 Communities
CY2013 maa Number Of Properties Sold
NumberOfPropertiesSold
8 Communities
CY2014Q1 maa Number Of Wholly Owned Real Estate Properties
NumberOfWhollyOwnedRealEstateProperties
269 Communities
CY2014Q1 maa Occupancy Levelfor Stabilized Communities
OccupancyLevelforStabilizedCommunities
0.9
CY2014Q1 maa Operating Income Before Depreciation
OperatingIncomeBeforeDepreciation
147626000 USD
CY2013Q1 maa Operating Income Before Depreciation
OperatingIncomeBeforeDepreciation
80413000 USD
CY2014Q1 maa Operating Partnership Units Outstanding
OperatingPartnershipUnitsOutstanding
79217829 shares
CY2013Q1 maa Operating Partnership Units Outstanding
OperatingPartnershipUnitsOutstanding
44390982 shares
CY2014Q1 maa Partnershipunitsissuedinexchangeforredeemableunits
Partnershipunitsissuedinexchangeforredeemableunits
998000 USD
CY2014Q1 maa Percentage Of Ownership Interests
PercentageOfOwnershipInterests
1.00
CY2014Q1 maa Percentage Of Secured Debt To Total Outstanding Debt
PercentageOfSecuredDebtToTotalOutstandingDebt
0.18
CY2014Q1 maa Percentage Of Total Public Multifamily Reit Units
PercentageOfTotalPublicMultifamilyReitUnits
0.01
CY2014Q1 maa Period Properties Owned And Stabilized
PeriodPropertiesOwnedAndStabilized
P12M
CY2014Q1 maa Period Properties Stabilized
PeriodPropertiesStabilized
P90D
CY2014Q1 maa Proceeds From Direct Purchase And Dividend Reinvestment
ProceedsFromDirectPurchaseAndDividendReinvestment
23000 USD
CY2013Q1 maa Proceeds From Direct Purchase And Dividend Reinvestment
ProceedsFromDirectPurchaseAndDividendReinvestment
10000 USD
CY2013Q1 maa Redeemable Capital Shares Par Or Stated Value Per Share
RedeemableCapitalSharesParOrStatedValuePerShare
69.06
CY2013Q1 maa Shares Subject To Issuance Pursuant To Sales Agreement
SharesSubjectToIssuancePursuantToSalesAgreement
4500000 shares
CY2014Q1 maa Units Issued During Period Acquisitions
UnitsIssuedDuringPeriodAcquisitions
34491396 shares
CY2014Q1 dei Amendment Flag
AmendmentFlag
false
CY2014Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2014Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2014Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2014Q1 dei Document Period End Date
DocumentPeriodEndDate
2014-03-31
CY2014Q1 dei Document Type
DocumentType
10-Q
CY2014Q1 dei Entity Central Index Key
EntityCentralIndexKey
0000912595
CY2014Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
75009068000 shares
CY2014Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2014Q1 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2013Q2 dei Entity Public Float
EntityPublicFloat
2896227801.18 USD
CY2014Q1 dei Entity Registrant Name
EntityRegistrantName
MID AMERICA APARTMENT COMMUNITIES INC
CY2014Q1 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2014Q1 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
CY2014Q1 dei Trading Symbol
TradingSymbol
MAA

Files In Submission

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0000912595-14-000013-index-headers.html Edgar Link pending
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0000912595-14-000013.txt Edgar Link pending
0000912595-14-000013-xbrl.zip Edgar Link pending
exhibit101-maaq12014.htm Edgar Link pending
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