$MAA
MID AMERICA APARTMENT COMMUNITIES INC.

2023 Q3 Form 10-Q Financial Statement

#000095017023035158 Filed on July 27, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $542.0M $535.1M
YoY Change 4.08% 8.1%
Cost Of Revenue $215.5M $210.4M
YoY Change 3.76% 6.65%
Gross Profit $326.5M $324.7M
YoY Change 4.28% 9.06%
Gross Profit Margin 60.24% 60.68%
Selling, General & Admin $13.50M $13.88M
YoY Change 10.76% -10.9%
% of Gross Profit 4.13% 4.28%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $146.9M $139.2M
YoY Change 7.21% 3.55%
% of Gross Profit 44.99% 42.86%
Operating Expenses $160.2M $152.9M
YoY Change 7.47% 2.09%
Operating Profit $166.3M $171.9M
YoY Change 1.38% 16.12%
Interest Expense $36.65M -$25.20M
YoY Change -5.14% -164.76%
% of Operating Profit 22.04% -14.66%
Other Income/Expense, Net -$16.49M $3.940M
YoY Change 860.01% -113.91%
Pretax Income $113.1M $152.1M
YoY Change -8.89% -28.61%
Income Tax -$209.0K $2.861M
% Of Pretax Income -0.18% 1.88%
Net Earnings $110.7M $144.7M
YoY Change -9.47% -31.32%
Net Earnings / Revenue 20.43% 27.04%
Basic Earnings Per Share $0.94 $1.24
Diluted Earnings Per Share $0.94 $1.24
COMMON SHARES
Basic Shares Outstanding 116.7M 116.7M
Diluted Shares Outstanding 116.7M 116.7M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $177.1M $150.2M
YoY Change 291.84% 113.39%
Cash & Equivalents $161.9M $150.2M
Short-Term Investments $15.20M $22.40M
Other Short-Term Assets
YoY Change
Inventory $74.00M $73.86M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $236.0M $224.0M
YoY Change 128.44% 119.91%
LONG-TERM ASSETS
Property, Plant & Equipment $10.88B $10.94B
YoY Change -0.61% 1.25%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $80.00M $77.65M
YoY Change -5.04% -10.83%
Other Assets $13.00M $13.57M
YoY Change -83.96% -91.58%
Total Long-Term Assets $11.15B $11.17B
YoY Change -0.79% -0.1%
TOTAL ASSETS
Total Short-Term Assets $236.0M $224.0M
Total Long-Term Assets $11.15B $11.17B
Total Assets $11.38B $11.39B
YoY Change 0.39% 0.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $666.0M $623.7M
YoY Change 2.91% 9.12%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $666.0M $623.7M
YoY Change 2.91% 9.12%
LONG-TERM LIABILITIES
Long-Term Debt $4.394B $4.396B
YoY Change -2.77% -2.7%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $4.394B $4.396B
YoY Change -2.77% -2.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $666.0M $623.7M
Total Long-Term Liabilities $4.394B $4.396B
Total Liabilities $5.061B $5.208B
YoY Change -2.04% 2.32%
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 $6.117B $6.183B
YoY Change
Total Liabilities & Shareholders Equity $11.38B $11.39B
YoY Change 0.39% 0.98%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $110.7M $144.7M
YoY Change -9.47% -31.32%
Depreciation, Depletion And Amortization $146.9M $139.2M
YoY Change 7.21% 3.55%
Cash From Operating Activities $318.2M $335.8M
YoY Change -7.34% 18.11%
INVESTING ACTIVITIES
Capital Expenditures $133.8M $150.0M
YoY Change -137.02% -201.0%
Acquisitions
YoY Change
Other Investing Activities -$2.000M -$4.448M
YoY Change -143.76% -102.55%
Cash From Investing Activities -$135.7M -$154.4M
YoY Change -61.97% -700.05%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -170.8M -173.6M
YoY Change 10.38% 7.88%
NET CHANGE
Cash From Operating Activities 318.2M 335.8M
Cash From Investing Activities -135.7M -154.4M
Cash From Financing Activities -170.8M -173.6M
Net Change In Cash 11.70M 7.708M
YoY Change -106.96% -94.83%
FREE CASH FLOW
Cash From Operating Activities $318.2M $335.8M
Capital Expenditures $133.8M $150.0M
Free Cash Flow $184.4M $185.8M
YoY Change -73.84% -57.07%

Facts In Submission

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dei Entity Registrant Name
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MID-AMERICA APARTMENT COMMUNITIES, INC.
dei Entity Incorporation State Country Code
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dei Entity Tax Identification Number
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6815 Poplar Ave
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2.76
CY2023Q2 us-gaap Profit Loss
ProfitLoss
149657000
CY2022Q2 us-gaap Profit Loss
ProfitLoss
216560000
us-gaap Profit Loss
ProfitLoss
289231000
us-gaap Profit Loss
ProfitLoss
330137000
CY2023Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-278000
CY2022Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-277000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-556000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-556000
CY2023Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
149935000
CY2022Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
216837000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
289787000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
330693000
CY2023Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
3970000
CY2022Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
5866000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
7651000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
8648000
CY2023Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
145965000
CY2022Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
210971000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
282136000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
322045000
us-gaap Profit Loss
ProfitLoss
289231000
us-gaap Profit Loss
ProfitLoss
330137000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
277934000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
268389000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
14000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
131964000
maa Gainon Saleof Non Depreciable Assets
GainonSaleofNonDepreciableAssets
54000
maa Gainon Saleof Non Depreciable Assets
GainonSaleofNonDepreciableAssets
378000
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
9387000
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-9939000
us-gaap Share Based Compensation
ShareBasedCompensation
8753000
us-gaap Share Based Compensation
ShareBasedCompensation
10740000
us-gaap Amortization Of Debt Discount Premium
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3036000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
3018000
maa Gain From Unconsolidated Limited Partnerships Net Of Distributions Received
GainFromUnconsolidatedLimitedPartnershipsNetOfDistributionsReceived
7292000
maa Gain From Unconsolidated Limited Partnerships Net Of Distributions Received
GainFromUnconsolidatedLimitedPartnershipsNetOfDistributionsReceived
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us-gaap Other Operating Activities Cash Flow Statement
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-8124000
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
554083000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
463907000
maa Payments To Acquire Real Estate And Other Assets
PaymentsToAcquireRealEstateAndOtherAssets
12450000
maa Payments To Acquire Real Estate And Other Assets
PaymentsToAcquireRealEstateAndOtherAssets
17238000
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
174343000
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
132849000
us-gaap Payments To Acquire In Process Research And Development
PaymentsToAcquireInProcessResearchAndDevelopment
104118000
us-gaap Payments To Acquire In Process Research And Development
PaymentsToAcquireInProcessResearchAndDevelopment
84636000
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
0
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
352000
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
5630000
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
9300000
maa Proceeds From Real Estate Asset Dispositions
ProceedsFromRealEstateAssetDispositions
3024000
maa Proceeds From Real Estate Asset Dispositions
ProceedsFromRealEstateAssetDispositions
165201000
maa Proceedsfrominsurancerecoveries
Proceedsfrominsurancerecoveries
696000
maa Proceedsfrominsurancerecoveries
Proceedsfrominsurancerecoveries
20675000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-292821000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Proceeds From Repayments Of Commercial Paper
ProceedsFromRepaymentsOfCommercialPaper
-20000000
us-gaap Proceeds From Repayments Of Commercial Paper
ProceedsFromRepaymentsOfCommercialPaper
0
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
730000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
691000
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
8848000
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
6965000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
325006000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
250960000
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
1844000
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
1844000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
204391000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
439000
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
0
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
43070000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-6571000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-11917000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
102654000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
91104000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
61071000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
130598000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
163725000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
221702000
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
150155000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
28000000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
28700000
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
60568000
CY2023Q2 us-gaap Restricted Cash
RestrictedCash
13570000
CY2022Q2 us-gaap Restricted Cash
RestrictedCash
161134000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
163725000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
221702000
us-gaap Interest Paid Net
InterestPaidNet
76302000
us-gaap Interest Paid Net
InterestPaidNet
79201000
us-gaap Income Taxes Paid
IncomeTaxesPaid
3321000
us-gaap Income Taxes Paid
IncomeTaxesPaid
2635000
maa Dividends And Distributions Declared And Accrued
DividendsAndDistributionsDeclaredAndAccrued
167764000
maa Dividends And Distributions Declared And Accrued
DividendsAndDistributionsDeclaredAndAccrued
148302000
us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
39144000
us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
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31803000
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
5883000
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
3893000
us-gaap Conversion Of Stock Amount Converted1
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531000
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
193000
CY2023Q2 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
290
CY2023Q2 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
16
CY2023Q2 us-gaap Real Estate Investments Joint Ventures
RealEstateInvestmentsJointVentures
39600000
CY2023Q2 us-gaap Marketable Securities
MarketableSecurities
22400000
CY2022Q4 us-gaap Marketable Securities
MarketableSecurities
8000000
CY2023Q2 us-gaap Investment Income Net
InvestmentIncomeNet
7500000
CY2022Q2 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
1800000
us-gaap Investment Income Net
InvestmentIncomeNet
6600000
us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
3300000
maa Percentage Of Rental Revenue And Other Income From Leasing Of Apartment Homes
PercentageOfRentalRevenueAndOtherIncomeFromLeasingOfApartmentHomes
0.94
maa Percentage Of Reimbursable Revenue From Leasing Of Apartment Homes
PercentageOfReimbursableRevenueFromLeasingOfApartmentHomes
0.05
maa Percentageof Rental Revenueand Other Income From Nonleasing Activities
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CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
43500000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
44600000
CY2023Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
149657000
CY2022Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
216560000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
289231000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
330137000
CY2023Q2 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
3969000
CY2022Q2 us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
5858000
us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
7633000
us-gaap Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
8633000
CY2023Q2 maa Income Loss From Continuing Operations Allocated To Unvested Restricted Shares
IncomeLossFromContinuingOperationsAllocatedToUnvestedRestrictedShares
58000
CY2022Q2 maa Income Loss From Continuing Operations Allocated To Unvested Restricted Shares
IncomeLossFromContinuingOperationsAllocatedToUnvestedRestrictedShares
149000
maa Income Loss From Continuing Operations Allocated To Unvested Restricted Shares
IncomeLossFromContinuingOperationsAllocatedToUnvestedRestrictedShares
118000
maa Income Loss From Continuing Operations Allocated To Unvested Restricted Shares
IncomeLossFromContinuingOperationsAllocatedToUnvestedRestrictedShares
228000
CY2023Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
922000
CY2022Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
922000
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1844000
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1844000
CY2023Q2 maa Adjusted Income Loss From Continuing Operations Available For Common Shareholders Basic
AdjustedIncomeLossFromContinuingOperationsAvailableForCommonShareholdersBasic
144708000
CY2022Q2 maa Adjusted Income Loss From Continuing Operations Available For Common Shareholders Basic
AdjustedIncomeLossFromContinuingOperationsAvailableForCommonShareholdersBasic
209631000
maa Adjusted Income Loss From Continuing Operations Available For Common Shareholders Basic
AdjustedIncomeLossFromContinuingOperationsAvailableForCommonShareholdersBasic
279636000
maa Adjusted Income Loss From Continuing Operations Available For Common Shareholders Basic
AdjustedIncomeLossFromContinuingOperationsAvailableForCommonShareholdersBasic
319432000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
116621000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
115353000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
116401000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
115306000
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.24
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.82
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.4
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.77
CY2023Q2 maa Incomefrom Continuing Operations Including Portion Attributableto Noncontrolling Interest
IncomefromContinuingOperationsIncludingPortionAttributabletoNoncontrollingInterest
149657000
CY2022Q2 maa Incomefrom Continuing Operations Including Portion Attributableto Noncontrolling Interest
IncomefromContinuingOperationsIncludingPortionAttributabletoNoncontrollingInterest
216560000
maa Incomefrom Continuing Operations Including Portion Attributableto Noncontrolling Interest
IncomefromContinuingOperationsIncludingPortionAttributabletoNoncontrollingInterest
289231000
maa Incomefrom Continuing Operations Including Portion Attributableto Noncontrolling Interest
IncomefromContinuingOperationsIncludingPortionAttributabletoNoncontrollingInterest
330137000
CY2023Q2 maa Incomefrom Continuing Operations Attributableto Noncontrolling Interest
IncomefromContinuingOperationsAttributabletoNoncontrollingInterest
3969000
CY2022Q2 maa Incomefrom Continuing Operations Attributableto Noncontrolling Interest
IncomefromContinuingOperationsAttributabletoNoncontrollingInterest
5858000
maa Incomefrom Continuing Operations Attributableto Noncontrolling Interest
IncomefromContinuingOperationsAttributabletoNoncontrollingInterest
7633000
maa Incomefrom Continuing Operations Attributableto Noncontrolling Interest
IncomefromContinuingOperationsAttributabletoNoncontrollingInterest
8633000
CY2023Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
922000
CY2022Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
922000
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1844000
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1844000
CY2023Q2 maa Adjusted Income Loss From Continuing Operations Available For Common Shareholders Diluted
AdjustedIncomeLossFromContinuingOperationsAvailableForCommonShareholdersDiluted
144766000
CY2022Q2 maa Adjusted Income Loss From Continuing Operations Available For Common Shareholders Diluted
AdjustedIncomeLossFromContinuingOperationsAvailableForCommonShareholdersDiluted
209780000
maa Adjusted Income Loss From Continuing Operations Available For Common Shareholders Diluted
AdjustedIncomeLossFromContinuingOperationsAvailableForCommonShareholdersDiluted
279754000
maa Adjusted Income Loss From Continuing Operations Available For Common Shareholders Diluted
AdjustedIncomeLossFromContinuingOperationsAvailableForCommonShareholdersDiluted
319660000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
116621000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
115353000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
116401000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
115306000
CY2023Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
104000
CY2022Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
203000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
157000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
336000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
116725000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
115556000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
116558000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
115642000
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.24
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.82
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.4
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.76
CY2023Q2 us-gaap Notes Payable
NotesPayable
4396393000
CY2023Q2 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.034
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
752000000
us-gaap Preferred Stock Redemption Date
PreferredStockRedemptionDate
2026-10-01
CY2023Q2 us-gaap Preferred Stock Redemption Price Per Share
PreferredStockRedemptionPricePerShare
50.00
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
116676966
CY2023Q2 maa Common Shares And Operating Partnership Units Outstanding
CommonSharesAndOperatingPartnershipUnitsOutstanding
119831650
CY2022Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
115438832
CY2022Q2 maa Common Shares And Operating Partnership Units Outstanding
CommonSharesAndOperatingPartnershipUnitsOutstanding
118641209
CY2023Q2 us-gaap Preferred Stock Liquidation Preference
PreferredStockLiquidationPreference
50
us-gaap Preferred Stock Redemption Date
PreferredStockRedemptionDate
2026-10-01
CY2023Q2 us-gaap Preferred Stock Redemption Price Per Share
PreferredStockRedemptionPricePerShare
50
us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.085
us-gaap Preferred Stock Dividend Rate Per Dollar Amount
PreferredStockDividendRatePerDollarAmount
4.25
CY2023Q2 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
43400000
CY2023Q1 maa Equity Sale Settled Shares Amount
EquitySaleSettledSharesAmount
1100000
CY2023Q1 maa Equity Sale Forward Price Per Share
EquitySaleForwardPricePerShare
185.23
CY2023Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
203700000
CY2023Q2 maa Operating Partnership Units Outstanding
OperatingPartnershipUnitsOutstanding
119831650
CY2023Q2 us-gaap General Partners Capital Account Units Outstanding
GeneralPartnersCapitalAccountUnitsOutstanding
116676966
CY2023Q2 us-gaap Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
3154684
CY2022Q2 maa Operating Partnership Units Outstanding
OperatingPartnershipUnitsOutstanding
118641209
CY2022Q2 us-gaap General Partners Capital Account Units Outstanding
GeneralPartnersCapitalAccountUnitsOutstanding
115438832
CY2022Q2 us-gaap Limited Partners Capital Account Units Outstanding
LimitedPartnersCapitalAccountUnitsOutstanding
3202377
CY2023Q1 maa Equity Sale Settled Shares Amount
EquitySaleSettledSharesAmount
1100000
CY2023Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
203700000
CY2023Q1 us-gaap General Partners Capital Account Units Issued
GeneralPartnersCapitalAccountUnitsIssued
1100000
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P33Y
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.045
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
1468000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2904000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2872000
maa Gain Loss On Sale Of Non Depreciable Real Estate Assets
GainLossOnSaleOfNonDepreciableRealEstateAssets
378000
CY2023Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
16992000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2920000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
2969000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
57024000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
70157000
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
42180000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
27977000
CY2023Q2 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
7700000
CY2022Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
10000000
CY2023Q2 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
290
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
maa Period Properties Owned And Stabilized
PeriodPropertiesOwnedAndStabilized
P12M
CY2023Q2 maa Occupancy Level For Stabilized Communities
OccupancyLevelForStabilizedCommunities
0.90
maa Period Properties Stabilized
PeriodPropertiesStabilized
P90D
CY2023Q2 us-gaap Revenues
Revenues
535146000
CY2022Q2 us-gaap Revenues
Revenues
495040000
us-gaap Revenues
Revenues
1064179000
us-gaap Revenues
Revenues
971118000
CY2023Q2 maa Operating Income Before Depreciation
OperatingIncomeBeforeDepreciation
340813000
CY2022Q2 maa Operating Income Before Depreciation
OperatingIncomeBeforeDepreciation
313363000
maa Operating Income Before Depreciation
OperatingIncomeBeforeDepreciation
687043000
maa Operating Income Before Depreciation
OperatingIncomeBeforeDepreciation
620021000
CY2023Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
138972000
CY2022Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
134144000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
277473000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
267882000
CY2023Q2 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
16091000
CY2022Q2 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
15630000
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
34019000
us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
32167000
CY2023Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
13882000
CY2022Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
15580000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
29805000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
31903000
CY2023Q2 us-gaap Interest Expense
InterestExpense
36723000
CY2022Q2 us-gaap Interest Expense
InterestExpense
38905000
us-gaap Interest Expense
InterestExpense
74004000
us-gaap Interest Expense
InterestExpense
78026000
CY2023Q2 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-1000
CY2022Q2 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
131965000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
14000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
131964000
CY2023Q2 maa Gain Loss On Sale Of Non Depreciable Real Estate Assets
GainLossOnSaleOfNonDepreciableRealEstateAssets
0
CY2022Q2 maa Gain Loss On Sale Of Non Depreciable Real Estate Assets
GainLossOnSaleOfNonDepreciableRealEstateAssets
355000
maa Gain Loss On Sale Of Non Depreciable Real Estate Assets
GainLossOnSaleOfNonDepreciableRealEstateAssets
54000
CY2022Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-28325000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
20459000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-17530000
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2861000
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-3052000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3805000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4494000
CY2023Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
382000
CY2022Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
409000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
767000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
788000
CY2023Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
3969000
CY2022Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
5858000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
7633000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
8633000
CY2023Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
922000
CY2022Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
922000
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1844000
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1844000
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
144766000
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
209780000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
279754000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
319660000
CY2023Q2 us-gaap Assets
Assets
11391170000
CY2022Q4 us-gaap Assets
Assets
11241165000
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false

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