Mid-america apartment communities, inc. (MAA)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'12Dec'11Dec'10Dec'09Dec'08
Cash flows from operating activities:
Net income

366,618

231,022

340,536

-

-

-

102,263

46,938

19,452

39,221

32,071

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, Amortization and Accretion, Net

-

-

-

-

-

-

-31

0

0

-

-

Depreciation and amortization

497,790

490,995

494,540

-

-

-

120,316

109,217

97,068

98,393

93,181

Loss on sale of depreciable real estate assets

80,988

-39

127,386

-

-

-

-

-

-

-

-

Loss (gain) on sale of non-depreciable real estate assets

12,047

4,532

21

-

-

-

-

-

-

-

-

Loss on sale of non-depreciable assets

-

-

-

-

-

-

-

-

-

15

-3

Gain on sale of discontinued operations

-

-

-

-

-

-

41,635

12,799

-2

4,649

-120

Gains on disposition within real estate joint ventures

-

-

-

-

-

-

-

-

-

-

-38

Asset impairment

-

-

-

-

-

-

0

0

1,914

-

-

Net casualty loss and other settlement proceeds

-

-

-

-

-

-

35

-475

-688

32

247

(Gain) loss from investments in real estate joint ventures

-

-

-

-

-

-

-223

-593

-1,150

-

-882

Loss on debt extinguishment

-

-

-

-

-

-

-1,012

-755

0

-

-

Income (Loss) from Equity Method Investments

-

-

-

-

-

-

-

-

-

-816

-

Gain on debt extinguishment

-

-

-

-

-

-

-

-

-

-140

-116

Derivative interest (credit) expense

-

-

-

-

-

-

823

545

321

780

39

Gain on sale of non-depreciable real estate assets

12,047

4,532

21

-

-

-

-

-

-

-

-

Stock compensation expense

13,654

12,444

10,570

-

-

-

1,999

3,609

3,290

1,328

1,027

Stock issued to employee stock ownership plan

-

-

-

-

-

-

-

-

-

-

-991

Redeemable stock issued

-

-

-

-

-

-

489

442

343

351

422

Amortization of debt issuance costs, discounts and premiums

5,778

-4,990

-9,810

-

-

-

-767

-360

-360

-360

-1,410

Net change in operating accounts and other operating activities

-9,385

9,314

-47,629

-

-

-

-

-

-

-

-

(Gain) loss on sale of depreciable real estate assets

80,988

-39

127,386

-

-

-

-

-

-

-

-

Stock compensation expense

13,654

12,444

10,570

-

-

-

-

-

-

-

-

Gain on properties contributed to joint ventures

-

-

-

-

-

-

0

0

752

-

-

Restricted cash

-

-

-

-

-

-

-553

-152

954

86

-3,249

Other assets

-

-

-

-

-

-

520

1,742

4,279

-177

-5,649

Accounts payable

-

-

-

-

-

-

2,216

199

-54

473

145

Accrued expenses and other

-

-

-

-

-

-

4,586

5,276

886

3,861

2,652

Security deposits

-

-

-

-

-

-

372

-271

-1,781

-113

448

Net cash provided by operating activities

781,420

734,292

660,800

-

-

-

191,819

152,119

116,934

140,285

139,794

Cash flows from investing activities:
Purchases of real estate and other assets

105,106

129,487

136,065

-

-

-

311,524

334,651

284,486

125,299

156,305

Improvements to existing real estate assets

-

-

-

-

-

-

-

-

-

-

42,113

Capital improvements, development and other

303,097

254,715

343,890

-

-

-

25,164

31,617

20,751

39,513

18,192

Distributions from real estate joint ventures

507

775

-

-

-

-

-

-

-

-

-

Contributions to affiliates

5,391

2,905

1,500

-

-

-

218

1,510

12,130

2,731

7,567

Construction capital and other improvements

-

-

-

-

-

-

-2,789

-3,379

-2,405

-

-

Renovations to existing real estate assets

-

-

-

-

-

-

11,862

8,832

7,079

9,657

-

Development

-

-

-

-

-

-

73,991

38,153

16,394

6,813

22,699

Distributions from real estate joint ventures

-

-

-

-

-

-

12,164

1,402

1,735

120

1

Proceeds from disposition of real estate assets

174,814

19,982

187,245

-

-

-

110,093

23,808

88,718

29,932

1,967

Net cash used in investing activities

-238,273

-366,350

-294,210

-

-

-

-303,291

-392,932

-252,792

-153,961

-244,908

Cash flows from financing activities:
Proceeds from revolving credit facility

565,000

1,540,000

805,000

-

-

-

-

-

-

-

-

Repayments of revolving credit facility

1,105,000

1,490,000

965,000

-

-

-

-

-

-

-

-

Net repayments of commercial paper

70,000

-

-

-

-

-

-

-

-

-

-

Advances from general partner

-

-

-

-

-

-

4,402

6,792

11,269

-

-

Net change in credit lines

-

-

-

-

-

-

-320,064

-121,533

-35,000

121,657

-106,058

Proceeds from notes payable

1,059,289

869,630

597,480

-

-

-

325,000

285,350

137,881

-

38,700

Principal payments on notes payable

657,619

878,610

413,557

-

-

-

12,911

13,895

1,924

44,757

84,912

Payment of deferred financing costs

14,274

6,060

5,358

-

-

-

3,612

4,633

7,244

3,123

2,835

Repurchase of common stock

-

-

-

-

-

-

17,527

42,243

1,175

964

679

Proceeds from issuances of common shares

-

-

-

-

-

-

196,325

235,739

305,517

33,754

126,003

Distributions to noncontrolling interests

15,939

15,079

14,654

-

-

-

2,057

0

0

6,128

6,313

Distributions paid on common units

437,743

419,849

395,294

-

-

-

106,349

93,407

78,699

69,505

65,809

Payments for Repurchase of Redeemable Preferred Units

-

-

-

-

-

-

0

0

155,022

-

-

Dividends, Preferred Stock, Cash

3,688

3,688

3,688

-

0

0

0

0

7,622

12,865

12,865

Net change in other financing activities

15,695

-1,480

-4,452

-

-

-

-

-

-

-

-

Net cash used in financing activities

-524,279

-405,136

-399,523

-

-

-

63,207

252,170

167,981

18,069

97,348

Net (decrease) increase in cash, cash equivalents and restricted cash

18,868

-37,194

-32,933

-

-

-

-

-

-

-

-

Net (decrease) increase in cash and cash equivalents

-

-

-

-

-

-

-48,265

11,357

32,123

4,393

-7,766

Supplemental disclosure of cash flow information:
Interest paid

169,743

184,834

166,757

-

-

-

54,096

51,196

55,837

55,579

63,722

Income taxes paid

2,546

2,550

2,366

-

-

-

-

-

-

-

-

Supplemental disclosure of noncash investing and financing activities:
Conversion of OP Units to shares of common stock

2,366

4,443

1,602

-

-

-

-

-

-

1,132

-

Accrued construction in progress

9,298

8,581

7,852

-

-

-

3,449

5,807

3,070

1,209

3,416

Interest capitalized

2,889

2,047

7,238

-

-

-

1,905

1,156

66

252

826

Mark-to-market adjustment on derivative instruments

19,578

-6,436

17,806

-

-

-

10,875

13,143

-1,838

26,179

-60,707

Reclassification of redeemable stock to liabilities

-

-

-

-

-

-

0

150

264

-

482

Fair value adjustment on debt assumed

-

-

-

-

-

-

2,578

0

0

-

-

Gain on Sale of Non-Depreciable Assets, Including Discontinued Operations

-

-

-

-

-

-

45

910

0

-

-

Loan assumption from the Post Properties merger

-

-

-

-

-

-

30,290

0

0

-

-

Limited Partner [Member]
Net income

366,618

231,022

340,536

224,402

-

-

-

-

-

-

-

Depreciation and amortization

497,790

490,995

494,540

323,283

-

-

-

-

-

-

-

Loss on sale of depreciable real estate assets

80,988

-39

127,386

80,397

-

-

-

-

-

-

-

Loss (gain) on sale of non-depreciable real estate assets

12,047

4,532

21

-

-

-

-

-

-

-

-

Gain on sale of non-depreciable real estate assets

12,047

4,532

21

2,171

-

-

-

-

-

-

-

Stock compensation expense

13,654

12,444

10,570

11,486

-

-

-

-

-

-

-

Amortization of debt issuance costs, discounts and premiums

5,778

-4,990

-9,810

9,820

-

-

-

-

-

-

-

Net change in operating accounts and other operating activities

-9,385

9,314

-47,629

-

-

-

-

-

-

-

-

(Gain) loss on sale of depreciable real estate assets

80,988

-39

127,386

-

-

-

-

-

-

-

-

Stock compensation expense

13,654

12,444

10,570

-

-

-

-

-

-

-

-

Proceeds from Other Operating Activities

-

-

-

-18,221

-

-

-

-

-

-

-

Net cash provided by operating activities

781,420

734,292

660,800

485,004

-

-

-

-

-

-

-

Purchases of real estate and other assets

105,106

129,487

136,065

339,186

-

-

-

-

-

-

-

Capital improvements, development and other

303,097

254,715

343,890

183,977

-

-

-

-

-

-

-

Distributions from real estate joint ventures

507

775

-

1,778

-

-

-

-

-

-

-

Contributions to affiliates

5,391

2,905

1,500

-

-

-

-

-

-

-

-

Contributions to Real Estate Joint Ventures

-

-

-

0

-

-

-

-

-

-

-

Proceeds from disposition of real estate assets

174,814

19,982

187,245

296,410

-

-

-

-

-

-

-

Payments to Acquire Businesses, Net of Cash Acquired

-

-

-

424,156

-

-

-

-

-

-

-

Net cash used in investing activities

-238,273

-366,350

-294,210

-649,131

-

-

-

-

-

-

-

Proceeds from revolving credit facility

565,000

1,540,000

805,000

635,000

-

-

-

-

-

-

-

Repayments of revolving credit facility

1,105,000

1,490,000

965,000

300,000

-

-

-

-

-

-

-

Net repayments of commercial paper

70,000

-

-

-

-

-

-

-

-

-

-

Proceeds from notes payable

1,059,289

869,630

597,480

300,000

-

-

-

-

-

-

-

Principal payments on notes payable

657,619

878,610

413,557

146,026

-

-

-

-

-

-

-

Payment of deferred financing costs

14,274

6,060

5,358

2,395

-

-

-

-

-

-

-

Payment for Debt Extinguishment or Debt Prepayment Cost

-

-

-

139

-

-

-

-

-

-

-

Repurchase of common units

-

-

-

2,019

-

-

-

-

-

-

-

Proceeds from issuance of common units

-

-

-

291

-

-

-

-

-

-

-

Proceeds from Stock Options Exercised

-

-

-

0

-

-

-

-

-

-

-

Distributions paid on common shares/units

453,682

434,928

409,948

-

-

-

-

-

-

-

-

Distributions paid on common units

-

-

-

-261,502

-

-

-

-

-

-

-

Distributions paid on preferred shares/units

3,688

3,688

3,688

-

-

-

-

-

-

-

-

Dividends, Preferred Stock, Cash

-

-

-

-924

-

-

-

-

-

-

-

Net change in other financing activities

15,695

-1,480

-4,452

-

-

-

-

-

-

-

-

Net cash used in financing activities

-524,279

-405,136

-399,523

222,286

-

-

-

-

-

-

-

Net (decrease) increase in cash, cash equivalents and restricted cash

18,868

-37,194

-32,933

-

-

-

-

-

-

-

-

Net (decrease) increase in cash and cash equivalents

-

-

-

58,159

-

-

-

-

-

-

-

Interest paid

169,743

184,834

166,757

144,843

-

-

-

-

-

-

-

Income taxes paid

2,546

2,550

2,366

1,582

-

-

-

-

-

-

-

Accrued construction in progress

9,298

8,581

7,852

31,491

-

-

-

-

-

-

-

Interest capitalized

2,889

2,047

7,238

2,073

-

-

-

-

-

-

-

Mark-to-market adjustment on derivative instruments

19,578

-6,436

17,806

5,670

-

-

-

-

-

-

-

Fair value adjustment on debt assumed

-

-

-

8,864

-

-

-

-

-

-

-

Loan assumption from the Post Properties merger

-

-

-

586,744

-

-

-

-

-

-

-

Parent Company [Member]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

-

-

-

224,402

-

-

-

-

-

-

-

Depreciation and amortization

-

-

-

323,283

-

-

-

-

-

-

-

(Gain) Loss on sale of depreciable real estate assets excluded from discontinued operations

-

-

-

80,397

-

-

-

-

-

-

-

Gain on sale of non-depreciable real estate assets

-

-

-

2,171

-

-

-

-

-

-

-

Stock compensation expense

-

-

-

11,486

-

-

-

-

-

-

-

Amortization of debt premium

-

-

-

9,820

-

-

-

-

-

-

-

Proceeds from Other Operating Activities

-

-

-

-18,221

-

-

-

-

-

-

-

Net cash provided by operating activities

-

-

-

485,004

-

-

-

-

-

-

-

Purchases of real estate and other assets

-

-

-

339,186

-

-

-

-

-

-

-

Normal capital improvements

-

-

-

183,977

-

-

-

-

-

-

-

Proceeds from Equity Method Investment, Distribution, Return of Capital

-

-

-

1,778

-

-

-

-

-

-

-

Proceeds from disposition of real estate assets

-

-

-

296,410

-

-

-

-

-

-

-

Contributions to Real Estate Joint Ventures

-

-

-

0

-

-

-

-

-

-

-

Payments to Acquire Businesses, Net of Cash Acquired

-

-

-

424,156

-

-

-

-

-

-

-

Net cash (used in) provided by investing activities

-

-

-

-649,131

-

-

-

-

-

-

-

Proceeds from Lines of Credit

-

-

-

635,000

-

-

-

-

-

-

-

Repayments of Lines of Credit

-

-

-

300,000

-

-

-

-

-

-

-

Proceeds from notes payable

-

-

-

300,000

-

-

-

-

-

-

-

Principal payments on notes payable

-

-

-

146,026

-

-

-

-

-

-

-

Payment of deferred financing costs

-

-

-

2,395

-

-

-

-

-

-

-

Repurchase of common stock

-

-

-

2,019

-

-

-

-

-

-

-

Payment for Debt Extinguishment or Debt Prepayment Cost

-

-

-

139

-

-

-

-

-

-

-

Proceeds from issuances of common shares

-

-

-

291

-

-

-

-

-

-

-

Proceeds from Stock Options Exercised

-

-

-

0

-

-

-

-

-

-

-

Distributions to noncontrolling interests

-

-

-

13,850

-

-

-

-

-

-

-

Dividends paid on common shares

-

-

-

247,652

-

-

-

-

-

-

-

Net cash used in financing activities

-

-

-

222,286

-

-

-

-

-

-

-

Dividends, Preferred Stock, Cash

-

-

-

-924

-

-

-

-

-

-

-

Net (decrease) increase in cash and cash equivalents

-

-

-

58,159

-

-

-

-

-

-

-

Interest paid

-

-

-

144,843

-

-

-

-

-

-

-

Income Taxes Paid

-

-

-

1,582

-

-

-

-

-

-

-

Conversion of units to shares of common stock

-

-

-

902

-

-

-

-

-

-

-

Accrued construction in progress

-

-

-

31,491

-

-

-

-

-

-

-

Interest capitalized

-

-

-

2,073

-

-

-

-

-

-

-

Marked To Market Adjustment On Derivative Instruments

-

-

-

5,670

-

-

-

-

-

-

-

Fair value adjustment on debt assumed

-

-

-

8,864

-

-

-

-

-

-

-

Loan assumption from the Post Properties merger

-

-

-

586,744

-

-

-

-

-

-

-