Mid-america apartment communities, inc. (MAA)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09Dec'08
Income (Loss) from Discontinued Operations, Net of Tax, Per Basic and Diluted Share

-

-

-

-

-

-

-

-

-

0.06

-

-

Revenues:
Rental revenues

-

-

-

-

952,196

899,124

580,963

436,658

393,142

309,046

353,129

352,414

Other property revenues

-

-

-

-

90,583

90,003

53,880

38,331

36,647

27,192

20,943

17,391

Total property revenues

-

-

-

-

-

-

-

-

429,789

336,238

374,072

369,805

Management fee income

-

-

-

-

-

-

-

-

1,017

680

293

206

Rental and other property revenues

1,641,017

1,571,346

1,528,987

-

-

-

-

-

430,806

336,918

374,365

370,011

Expenses:
Operating expense, excluding real estate taxes and insurance

377,453

371,095

364,190

-

-

-

-

-

-

-

-

-

Personnel

-

-

-

-

103,000

101,550

68,299

54,355

51,679

42,389

47,003

46,139

Building repairs and maintenance

-

-

-

-

30,524

29,313

20,308

15,029

14,656

12,084

13,942

13,688

Real estate taxes and insurance

235,392

223,493

212,541

142,784

129,618

122,920

76,922

55,024

48,769

39,129

45,046

45,652

Depreciation and amortization

496,843

489,759

493,708

322,958

294,520

301,811

186,979

121,211

110,870

88,651

95,078

90,168

Total property operating expenses

1,109,688

1,084,347

1,070,439

280,572

695,165

694,140

440,612

315,360

293,447

234,660

252,640

245,478

Utilities

-

-

-

-

89,769

55,245

51,737

25,941

25,188

20,046

22,002

21,908

Landscaping

-

-

-

-

19,458

19,889

13,318

10,447

10,328

8,462

9,441

9,146

Property management expenses

55,011

47,633

43,588

-

-

-

-

-

31,957

23,899

20,128

18,777

Acquisition expense

-

-

-

-

-

-

-

-

3,319

2,035

950

-

Property management expenses

-

-

-

-

-

-

-

-

20,700

15,968

17,220

16,799

General and administrative expenses

46,121

34,786

40,194

29,040

25,716

20,909

15,569

13,762

18,123

11,189

11,320

11,837

Business Combination, Merger and Integration Related Expenses

-

-

-

40,800

-

-

-

-

-

-

-

-

Merger and integration related expenses

0

9,112

19,990

-

-

-

-

-

-

-

-

-

Income from continuing operations before non-operating items

-

-

-

-

-

-

-

-

95,217

73,066

92,235

95,897

Interest and other non-property (expense) income

-

-

-

-

-

-

-

-

802

789

385

509

Interest expense

179,847

173,594

154,751

-

-

-

-

-

57,415

53,803

56,994

62,010

Loss on debt extinguishment

-

-

-

-

-

-

-

-

-755

0

-140

-116

Amortization of deferred financing costs

-

-

-

-

-

-

-

-

2,902

2,300

2,374

2,307

Net casualty loss after insurance and other settlement proceeds

-

-

-

-

-

-

-

-

-619

48

32

247

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

-

-

-

-

-

-

-

-

-

Dividends, Preferred Units

-

-

-

-

-

-

-

-

-

6,549

-

-

Preferred Units Redemption Premium

-

-

-

-

-

-

-

-

-

5,149

-

-

Net Income (Loss) Available to Common Unitholders

-

-

-

-

-

-

-

-

-

7,281

-

-

Income from continuing operations available for common unitholders

-

-

-

-

-

-

-

-

-

0.16

-

-

Gain on sale of non-depreciable real estate assets

-

-

-

-

-

-

-

-

1,084

0

15

-3

Other non-operating expense (income)

25,275

5,434

14,353

-

-

-

-

-

-

-

-

-

Gain on properties acquired from joint ventures

-

-

-

-

-

-

-

-

0

752

-

-

Income before income tax expense

368,660

231,801

341,785

-

-

-

-

-

35,412

18,552

33,159

31,723

Income tax expense

3,696

2,611

2,619

-

-

-

-

-

-

-

-

-

Income from continuing operations before real estate joint venture activity

364,964

229,190

339,166

-

-

-

-

-

-

-

-

-

Income from continuing operations before real estate joint venture activity

364,964

229,190

339,166

-

-

-

-

-

-

-

-

-

Income from real estate joint venture

1,654

1,832

1,370

-

-

-

-

-

-593

-1,149

-816

-844

Income from continuing operations

-

-

-

-

-

-

-

-

34,819

17,403

32,343

30,879

Loss from discontinued operations before gain on sale

-

-

-

-

-

-

-

-

3,625

2,051

2,229

1,312

Net casualty gain after insurance and other settlement proceeds on discontinued operations

-

-

-

-

-

-

-

-

-12

0

-

-

Gain on sale of discontinued operations

-

-

-

-

-

-

-

-

12,799

-2

4,649

-120

Net income

366,618

231,022

340,536

-

-

-

-

-

51,231

19,452

39,221

32,071

Net income attributable to noncontrolling interests

12,807

8,123

12,157

-

-

-

-

-

2,410

473

2,010

1,822

Net income available for shareholders

353,811

222,899

328,379

-

-

-

-

-

48,821

18,979

37,211

30,249

Dividends to MAA Series I preferred shareholders

3,688

3,688

3,688

-

0

-

-

-

-

-

-

-

Preferred dividend distributions

-

-

-

-

-

-

-

-

0

-

12,865

12,865

Premiums and original issuance costs associated with the redemption of preferred stock

-

-

-

-

-

-

-

-

0

-

-

-

Net income available for MAA common shareholders

350,123

219,211

324,691

-

-

-

-

-

48,821

-

24,346

17,384

Earnings per common share - basic:
Discontinued property operations

-

-

-

-

-

-

-

-

-

-

-

-1,192

Income from continuing operations available for common shareholders

-

-

-

-

-

-

-

-

-

-

-

16,192

Discontinued property operations (dollars per share)

-

-

-

-

-

-

-

-

0.42

-

0.24

0.04

Net income available for MAA common shareholders

3.07

1.93

2.86

-

-

-

-

-

1.32

-

0.85

0.64

Earnings Per Share, Basic and Diluted

-

-

-

-

-

-

-

-

-

0.22

-

-

Earnings per common share - diluted:
Income from continuing operations available for common shareholders

-

-

-

-

-

-

-

-

0.89

-

0.61

0.60

Discontinued property operations (dollars per share)

-

-

-

-

-

-

-

-

0.42

-

0.24

0.04

Net income available for MAA common shareholders

3.07

1.93

2.86

-

-

-

-

-

1.31

-

0.85

0.64

Basic

-

-

-

-

-

-

-

-

-

-

-

26,943

Effect of dilutive securities

-

-

-

-

-

-

-

-

-

-

-

141

Diluted

-

-

-

-

-

-

-

-

-

-

-

27,084

Net income available for MAA common shareholders

350,123

219,211

324,691

-

-

-

-

-

48,821

-

-

17,384

Dividends declared per common share

-

-

-

-

-

-

-

-

2.54

-

2.46

2.46

Distribution Made to Limited Partner, Distributions Declared, Per Unit

-

-

-

-

-

-

-

-

-

2.47

-

-

Parent Company [Member]
Total operating revenues

-

-

-

1,125,348

1,042,779

989,296

635,490

475,888

-

-

-

-

Real Estate Revenue, Net

-

-

-

-

1,042,779

989,127

634,843

474,989

-

-

-

-

Management Fees, Base Revenue

-

-

-

-

0

169

647

899

-

-

-

-

Operating Expenses

-

-

-

746,314

-

-

-

-

-

-

-

-

Other Cost and Expense, Operating

-

-

-

34,093

28,276

63,412

23,049

33,353

-

-

-

-

Owned Property Management Costs

-

-

-

-

30,990

32,095

23,083

21,281

-

-

-

-

Business Combination, Merger and Integration Related Expenses

-

-

-

40,823

2,777

2,388

1,393

1,581

-

-

-

-

Income from continuing operations before non-operating items

-

-

-

-

288,131

228,217

117,328

123,904

-

-

-

-

Merger Related Expenses

-

-

-

-

0

3,152

32,403

0

-

-

-

-

Business Combination, Integration Related Costs

-

-

-

-

0

8,395

5,102

0

-

-

-

-

Interest expense

-

-

-

129,947

122,344

119,464

78,978

57,937

-

-

-

-

Interest and other non-property income

-

-

-

-

-368

908

466

430

-

-

-

-

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

-

-

-

80,397

189,958

42,649

0

0

-

-

-

-

Gain (Loss) on Extinguishment of Debt

-

-

-

-

-3,602

-2,586

-426

-654

-

-

-

-

Amortization of deferred financing costs

-

-

-

-

-

4,489

-

3,552

-

-

-

-

Gain Loss From Insurance Settlement And Other

-

-

-

-

473

-476

-143

-6

-

-

-

-

Gain on sale of non-depreciable real estate assets

-

-

-

2,171

172

350

0

45

-

-

-

-

Other Nonoperating Income (Expense)

-

-

-

-1,839

-

-

-

-

-

-

-

-

Income before income tax expense

-

-

-

225,860

352,420

145,109

38,247

62,230

-

-

-

-

Income tax expense

-

-

-

-1,699

-1,673

-2,050

-893

-803

-

-

-

-

Income from continuing operations before joint venture activity

-

-

-

224,161

350,747

143,059

37,354

61,427

-

-

-

-

Gain (loss) from real estate joint ventures

-

-

-

241

-2

6,009

338

-223

-

-

-

-

Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

-

-

-

224,402

350,745

156,277

119,279

109,825

-

-

-

-

Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest

-

-

-

-

350,745

149,068

37,692

61,204

-

-

-

-

Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax

-

-

-

-

0

1,815

4,650

6,938

-

-

-

-

Loss from Insurance Settlement and Other, Discontinued Operations

-

-

-

-

-

-

93

-

-

-

-

-

Net casualty gain (loss) after insurance and other settlement proceeds on discontinued operations

-

-

-

-

-

0

-

48

-

-

-

-

Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax

-

-

-

-

0

5,394

76,844

41,635

-

-

-

-

Net income attributable to noncontrolling interests

-

-

-

12,180

18,458

8,297

3,998

4,602

-

-

-

-

Net Income (Loss) Available to Shareholders

-

-

-

212,222

332,287

-

-

-

-

-

-

-

Preferred Stock Dividends, Income Statement Impact

-

-

-

307

-

-

-

-

-

-

-

-

Net income available for MAA common shareholders

-

-

-

211,915

332,287

147,980

115,281

105,223

-

-

-

-

Income from continuing operations available for common shareholders (dollars per share)

-

-

-

-

4.41

1.88

0.72

1.43

-

-

-

-

Discontinued property operations (dollars per share)

-

-

-

-

0.00

0.09

1.55

1.13

-

-

-

-

Earnings Per Share, Basic

-

-

-

-

4.41

1.97

2.27

2.56

-

-

-

-

Income from continuing operations available for common shareholders (dollars per share)

-

-

-

-

4.41

1.88

0.71

1.43

-

-

-

-

Discontinued property operations (dollars per share)

-

-

-

-

0.00

0.09

1.54

1.13

-

-

-

-

Earnings Per Share, Diluted

-

-

-

-

4.41

1.97

2.25

2.56

-

-

-

-

Limited Partner [Member]
Rental revenues

-

-

-

-

952,196

899,124

580,963

436,658

-

-

-

-

Other property revenues

-

-

-

-

90,583

90,003

53,880

38,331

-

-

-

-

Real Estate Revenue, Net

-

-

-

-

1,042,779

989,127

634,843

474,989

-

-

-

-

Management Fees, Base Revenue

-

-

-

-

0

169

647

899

-

-

-

-

Rental and other property revenues

1,641,017

1,571,346

1,528,987

1,125,348

1,042,779

989,296

635,490

475,888

-

-

-

-

Operating expense, excluding real estate taxes and insurance

377,453

371,095

364,190

-

-

-

-

-

-

-

-

-

Personnel

-

-

-

-

103,000

101,550

68,299

54,355

-

-

-

-

Building repairs and maintenance

-

-

-

-

30,524

29,313

20,308

15,029

-

-

-

-

Real estate taxes and insurance

235,392

223,493

212,541

142,784

129,618

122,920

76,922

55,024

-

-

-

-

Depreciation and amortization

496,843

489,759

493,708

322,958

294,520

301,811

186,979

121,211

-

-

-

-

Total property operating expenses

1,109,688

1,084,347

1,070,439

280,572

695,165

694,140

440,612

315,360

-

-

-

-

Operating Expenses

-

-

-

746,314

-

-

-

-

-

-

-

-

Utilities

-

-

-

-

89,769

55,245

51,737

25,941

-

-

-

-

Landscaping

-

-

-

-

19,458

19,889

13,318

10,447

-

-

-

-

Property management expenses

55,011

47,633

43,588

34,093

28,276

63,412

23,049

33,353

-

-

-

-

Business Combination, Acquisition Related Costs

-

-

-

-

2,777

2,388

1,393

1,581

-

-

-

-

Owned Property Management Costs

-

-

-

-

30,990

32,095

23,083

21,281

-

-

-

-

General and administrative expenses

46,121

34,786

40,194

29,040

25,716

20,909

15,569

13,762

-

-

-

-

Merger Related Expenses

-

-

-

-

0

3,152

32,403

0

-

-

-

-

Merger and integration related expenses

0

9,112

19,990

40,823

0

8,395

5,102

0

-

-

-

-

Income from continuing operations before non-operating items

-

-

-

-

288,131

228,217

117,328

123,904

-

-

-

-

Interest and other non-property income

-

-

-

-

-368

908

466

430

-

-

-

-

Interest expense

179,847

173,594

154,751

129,947

122,344

119,464

78,978

57,937

-

-

-

-

Gain (Loss) on Extinguishment of Debt

-

-

-

-

-3,602

-2,586

-426

-654

-

-

-

-

Amortization of deferred financing costs

-

-

-

-

-

4,489

-

3,552

-

-

-

-

Gain Loss From Insurance Settlement And Other

-

-

-

-

473

-476

-143

-6

-

-

-

-

Loss on sale of depreciable real estate assets

80,988

-39

127,386

80,397

189,958

42,649

0

0

-

-

-

-

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

12,047

4,532

21

-

-

-

-

-

-

-

-

-

Gain on sale of non-depreciable real estate assets

-

-

-

2,171

172

350

0

45

-

-

-

-

Other non-operating expense (income)

25,275

5,434

14,353

-1,839

-

-

-

-

-

-

-

-

Income before income tax expense

368,660

231,801

341,785

225,860

352,420

145,109

38,247

62,230

-

-

-

-

Income tax expense

3,696

2,611

2,619

-

-

-

-

-

-

-

-

-

Income from continuing operations before real estate joint venture activity

364,964

229,190

339,166

-

-

-

-

-

-

-

-

-

Income tax expense

-

-

-

-1,699

-1,673

-2,050

-893

-803

-

-

-

-

Income from continuing operations before real estate joint venture activity

364,964

229,190

339,166

224,161

350,747

143,059

37,354

61,427

-

-

-

-

Income from real estate joint venture

1,654

1,832

1,370

241

-2

6,009

338

-223

-

-

-

-

Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest

-

-

-

-

350,745

149,068

37,692

61,204

-

-

-

-

Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax

-

-

-

-

0

1,815

4,239

6,153

-

-

-

-

Loss from Insurance Settlement and Other, Discontinued Operations

-

-

-

-

-

-

93

-

-

-

-

-

Net casualty gain (loss) after insurance and other settlement proceeds on discontinued operations

-

-

-

-

-

0

-

48

-

-

-

-

Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax

-

-

-

-

0

5,394

65,520

41,635

-

-

-

-

Net income

366,618

231,022

340,536

224,402

350,745

156,277

107,544

109,040

-

-

-

-

Net income available for MAALP common unitholders

362,794

227,334

336,848

224,095

350,745

156,277

107,544

109,040

-

-

-

-

Net income attributable to noncontrolling interests

136

-

-

-

-

-

-

-

-

-

-

-

Net income available for MAALP common unitholders

362,794

227,334

336,848

-

-

-

-

-

-

-

-

-

Dividends to preferred unitholders

3,688

3,688

3,688

307

0

-

-

-

-

-

-

-

Income from continuing operations available for common shareholders (dollars per share)

-

-

-

-

4.41

1.88

0.71

1.43

-

-

-

-

Discontinued property operations (dollars per share)

-

-

-

-

0.00

0.09

1.31

1.11

-

-

-

-

Net income available for MAA common shareholders

3.07

1.93

2.86

-

4.41

1.97

2.02

2.54

-

-

-

-

Net income available for MAALP common unitholders

3.07

1.93

2.86

2.70

-

-

-

-

-

-

-

-

Income from continuing operations available for common shareholders (dollars per share)

-

-

-

-

4.41

1.88

0.71

1.43

-

-

-

-

Discontinued property operations (dollars per share)

-

-

-

-

0.00

0.09

1.31

1.11

-

-

-

-

Net income available for MAA common shareholders

3.07

1.93

2.86

-

4.41

1.97

2.02

2.54

-

-

-

-

Net income available for MAALP common unitholders

3.07

1.93

2.86

2.70

-

-

-

-

-

-

-

-

Net income available for MAALP unitholders

366,482

231,022

340,536

-

-

-

-

-

-

-

-

-

Net income available for MAALP common unitholders

362,794

227,334

336,848

-

-

-

-

-

-

-

-

-