$MAA
MID AMERICA APARTMENT COMMUNITIES INC.

2024 Q4 Form 10-Q Financial Statement

#000095017024119555 Filed on October 31, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $551.1M
YoY Change 1.68%
Cost Of Revenue $228.8M
YoY Change 6.18%
Gross Profit $322.3M
YoY Change -1.29%
Gross Profit Margin 58.48%
Selling, General & Admin $12.73M
YoY Change -5.72%
% of Gross Profit 3.95%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $146.9M
YoY Change 0.0%
% of Gross Profit 45.58%
Operating Expenses $159.5M
YoY Change -0.47%
Operating Profit $162.9M
YoY Change -2.07%
Interest Expense $42.73M
YoY Change 16.58%
% of Operating Profit 26.24%
Other Income/Expense, Net -$1.678M
YoY Change -89.83%
Pretax Income $118.4M
YoY Change 4.75%
Income Tax $670.0K
% Of Pretax Income 0.57%
Net Earnings $115.2M
YoY Change 4.03%
Net Earnings / Revenue 20.9%
Basic Earnings Per Share $0.98
Diluted Earnings Per Share $0.98
COMMON SHARES
Basic Shares Outstanding 116.9M 116.9M
Diluted Shares Outstanding 116.8M

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $53.53M
YoY Change -69.77%
Cash & Equivalents $50.23M
Short-Term Investments $3.300M
Other Short-Term Assets
YoY Change
Inventory $73.86M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $124.1M
YoY Change -47.42%
LONG-TERM ASSETS
Property, Plant & Equipment $11.36B
YoY Change 4.5%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $98.79M
YoY Change 23.49%
Other Assets $29.15M
YoY Change 124.23%
Total Long-Term Assets $11.63B
YoY Change 4.36%
TOTAL ASSETS
Total Short-Term Assets $124.1M
Total Long-Term Assets $11.63B
Total Assets $11.76B
YoY Change 3.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $726.2M
YoY Change 9.03%
Deferred Revenue
YoY Change
Short-Term Debt $490.0M
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.216B
YoY Change 82.61%
LONG-TERM LIABILITIES
Long-Term Debt $4.386B
YoY Change -0.18%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $4.386B
YoY Change -0.18%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.216B
Total Long-Term Liabilities $4.386B
Total Liabilities $5.602B
YoY Change 10.7%
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 $5.949B
YoY Change
Total Liabilities & Shareholders Equity $11.76B
YoY Change 3.29%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $115.2M
YoY Change 4.03%
Depreciation, Depletion And Amortization $146.9M
YoY Change 0.0%
Cash From Operating Activities $309.5M
YoY Change -2.72%
INVESTING ACTIVITIES
Capital Expenditures $335.4M
YoY Change 150.71%
Acquisitions
YoY Change
Other Investing Activities $13.69M
YoY Change -784.35%
Cash From Investing Activities -$321.8M
YoY Change 137.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -217.0K
YoY Change -99.87%
NET CHANGE
Cash From Operating Activities 309.5M
Cash From Investing Activities -321.8M
Cash From Financing Activities -217.0K
Net Change In Cash -12.44M
YoY Change -206.32%
FREE CASH FLOW
Cash From Operating Activities $309.5M
Capital Expenditures $335.4M
Free Cash Flow -$25.91M
YoY Change -114.05%

Facts In Submission

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MID-AMERICA APARTMENT COMMUNITIES, INC.
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CY2023Q3 maa Marketable Equity Securities Received
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CY2023Q3 maa Adjusted Income Loss From Continuing Operations Available For Common Shareholders Basic
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maa Adjusted Income Loss From Continuing Operations Available For Common Shareholders Basic
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maa Adjusted Income Loss From Continuing Operations Available For Common Shareholders Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Profit Loss
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CY2024Q3 maa Dividends To I Preferred Shareholders Diluted
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2023Q3 us-gaap Common Stock Shares Outstanding
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2026-10-01
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CY2024Q3 maa Lessee Operating Lease Liability Payments Due After Year Four
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maa Operating Income Before Depreciation
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50317000
CY2024Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
12728000
CY2023Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
13524000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
42444000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
43329000
CY2024Q3 us-gaap Interest Expense
InterestExpense
42726000
CY2023Q3 us-gaap Interest Expense
InterestExpense
36651000
us-gaap Interest Expense
InterestExpense
124352000
us-gaap Interest Expense
InterestExpense
110655000
CY2024Q3 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0
CY2023Q3 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-75000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-25000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-61000
CY2024Q3 maa Gain Loss On Sale Of Non Depreciable Real Estate Assets
GainLossOnSaleOfNonDepreciableRealEstateAssets
0
maa Gain Loss On Sale Of Non Depreciable Real Estate Assets
GainLossOnSaleOfNonDepreciableRealEstateAssets
0
maa Gain Loss On Sale Of Non Depreciable Real Estate Assets
GainLossOnSaleOfNonDepreciableRealEstateAssets
54000
CY2024Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1678000
CY2023Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-16493000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2604000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3966000
CY2024Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
670000
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-209000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3485000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3596000
CY2024Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
454000
CY2023Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
447000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1405000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1214000
CY2024Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
3035000
CY2023Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
3000000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
9605000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
10633000
CY2024Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
922000
CY2023Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
922000
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2766000
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2766000
CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
114273000
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
109810000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
358131000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
389564000
CY2024Q3 us-gaap Assets
Assets
11756252000
CY2023Q4 us-gaap Assets
Assets
11484503000
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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