Segment Information (Tables)

3 Months Ended

Mar. 31, 2024

Notes To Financial Statements [Abstract]

Revenues and NOI for Reportable Segment

Revenues and NOI for each reportable segment for the three months ended March 31, 2024 and 2023 were as follows (in thousands):

	Three months ended March 31,
	2024			2023
Revenues:
Same Store
Rental revenues	$	516,945		$	509,600
Other property revenues		2,684			2,831
Total Same Store revenues		519,629			512,431
Non-Same Store and Other
Rental revenues		22,872			16,493
Other property revenues		1,121			109
Total Non-Same Store and Other revenues		23,993			16,602
Total rental and other property revenues	$	543,622		$	529,033
Net Operating Income:
Same Store NOI	$	334,583		$	336,929
Non-Same Store and Other NOI		11,237			9,301
Total NOI		345,820			346,230
Depreciation and amortization		(143,020	)		(138,501	)
Property management expenses		(19,995	)		(17,928	)
General and administrative expenses		(17,045	)		(15,923	)
Interest expense		(40,361	)		(37,281	)
(Loss) gain on sale of depreciable real estate assets		(2	)		15
Gain on sale of non-depreciable real estate assets		—			54
Other non-operating income		23,526			3,467
Income tax expense		(1,795	)		(944	)
Income from real estate joint venture		482			385
Net income attributable to noncontrolling interests		(3,861	)		(3,664	)
Dividends to MAA Series I preferred shareholders		(922	)		(922	)
Net income available for MAA common shareholders	$	142,827		$	134,988

Assets for Reportable Segment

Assets for each reportable segment as of March 31, 2024 and December 31, 2023 were as follows (in thousands):

	March 31, 2024		December 31, 2023
Assets:
Same Store	$	9,812,519	$	9,893,858
Non-Same Store and Other		1,434,438		1,391,777
Corporate		223,775		198,868
Total assets	$	11,470,732	$	11,484,503