$MAA
MID AMERICA APARTMENT COMMUNITIES INC.

2023 Q2 Form 10-Q Financial Statement

#000095017023015283 Filed on April 27, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $535.1M $529.0M $476.1M
YoY Change 8.1% 11.12% 12.02%
Cost Of Revenue $210.4M $200.7M $186.0M
YoY Change 6.65% 7.94% 6.02%
Gross Profit $324.7M $328.3M $290.1M
YoY Change 9.06% 13.16% 16.23%
Gross Profit Margin 60.68% 62.06% 60.94%
Selling, General & Admin $13.88M $15.92M $16.32M
YoY Change -10.9% -2.45% 25.56%
% of Gross Profit 4.28% 4.85% 5.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $139.2M $138.8M $134.0M
YoY Change 3.55% 3.56% 1.64%
% of Gross Profit 42.86% 42.27% 46.18%
Operating Expenses $152.9M $154.4M $150.1M
YoY Change 2.09% 2.91% 3.85%
Operating Profit $171.9M $173.9M $140.1M
YoY Change 16.12% 24.15% 33.26%
Interest Expense -$25.20M $37.28M $39.12M
YoY Change -164.76% -4.7% -1.39%
% of Operating Profit -14.66% 21.44% 27.93%
Other Income/Expense, Net $3.940M $3.467M $10.80M
YoY Change -113.91% -67.88% -167.84%
Pretax Income $152.1M $140.1M $111.8M
YoY Change -28.61% 25.39% 125.63%
Income Tax $2.861M $944.0K -$1.442M
% Of Pretax Income 1.88% 0.67% -1.29%
Net Earnings $144.7M $135.9M $110.8M
YoY Change -31.32% 22.66% 134.78%
Net Earnings / Revenue 27.04% 25.69% 23.27%
Basic Earnings Per Share $1.24 $1.16 $0.95
Diluted Earnings Per Share $1.24 $1.16 $0.95
COMMON SHARES
Basic Shares Outstanding 116.7M 116.6M 115.3M
Diluted Shares Outstanding 116.7M 116.4M 115.7M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $150.2M $157.3M $65.37M
YoY Change 113.39% 140.64% 98.09%
Cash & Equivalents $150.2M $142.4M $60.37M
Short-Term Investments $22.40M $14.90M $5.000M
Other Short-Term Assets
YoY Change
Inventory $73.86M $73.86M $29.28M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $224.0M $216.3M $89.65M
YoY Change 119.91% 141.24% 31.84%
LONG-TERM ASSETS
Property, Plant & Equipment $10.94B $10.93B $10.85B
YoY Change 1.25% 0.73% -0.77%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $77.65M $72.43M $111.2M
YoY Change -10.83% -34.88% 63.58%
Other Assets $13.57M $13.61M $12.25M
YoY Change -91.58% 11.04% 11.39%
Total Long-Term Assets $11.17B $11.14B $11.11B
YoY Change -0.1% 0.24% -0.13%
TOTAL ASSETS
Total Short-Term Assets $224.0M $216.3M $89.65M
Total Long-Term Assets $11.17B $11.14B $11.11B
Total Assets $11.39B $11.35B $11.20B
YoY Change 0.98% 1.37% 0.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $623.7M $566.1M $531.4M
YoY Change 9.12% 6.54% 6.91%
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 $623.7M $566.1M $531.4M
YoY Change 9.12% 6.54% 6.91%
LONG-TERM LIABILITIES
Long-Term Debt $4.396B $4.396B $4.538B
YoY Change -2.7% -3.13% -2.59%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $4.396B $4.396B $4.538B
YoY Change -2.7% -3.13% -2.59%
TOTAL LIABILITIES
Total Short-Term Liabilities $623.7M $566.1M $531.4M
Total Long-Term Liabilities $4.396B $4.396B $4.538B
Total Liabilities $5.208B $4.962B $5.069B
YoY Change 2.32% -2.11% -5.61%
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 $6.183B $6.183B $5.920B
YoY Change
Total Liabilities & Shareholders Equity $11.39B $11.35B $11.20B
YoY Change 0.98% 1.37% 0.06%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income $144.7M $135.9M $110.8M
YoY Change -31.32% 22.66% 134.78%
Depreciation, Depletion And Amortization $139.2M $138.8M $134.0M
YoY Change 3.55% 3.56% 1.64%
Cash From Operating Activities $335.8M $218.3M $179.6M
YoY Change 18.11% 21.54% 21.28%
INVESTING ACTIVITIES
Capital Expenditures $150.0M $140.9M -$86.22M
YoY Change -201.0% -263.44% -24.03%
Acquisitions
YoY Change
Other Investing Activities -$4.448M $2.538M $2.692M
YoY Change -102.55% -5.72% 169.2%
Cash From Investing Activities -$154.4M -$138.4M -$83.53M
YoY Change -700.05% 65.67% -25.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -173.6M 15.02M -154.1M
YoY Change 7.88% -109.75% 453.16%
NET CHANGE
Cash From Operating Activities 335.8M 218.3M 179.6M
Cash From Investing Activities -154.4M -138.4M -83.53M
Cash From Financing Activities -173.6M 15.02M -154.1M
Net Change In Cash 7.708M 94.95M -57.97M
YoY Change -94.83% -263.77% -847.09%
FREE CASH FLOW
Cash From Operating Activities $335.8M $218.3M $179.6M
Capital Expenditures $150.0M $140.9M -$86.22M
Free Cash Flow $185.8M $77.39M $265.8M
YoY Change -57.07% -70.89% 1.62%

Facts In Submission

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MID-AMERICA APARTMENT COMMUNITIES, INC.
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CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2023Q1 us-gaap Assets
Assets
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CY2022Q4 us-gaap Assets
Assets
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maa-20230331_lab.xml Edgar Link unprocessable
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