MID AMERICA APARTMENT COMMUNITIES INC.

MAA 10-K · Q4 2025

MAA Q4 2025 request

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Income Statement

Income Statement
Metric Q4 2025 Q4 2024 YoY
Revenue 555,556 549,832 +1.0%
Show Business Segments breakouts
Non-Same Store and Other 37,035 31,036 +19.3%
Same Store [Member] 518,521 518,796 -0.1%
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Limited Partner [Member] 555,556 549,832 +1.0%
Operating Costs And Expenses Excluding Depreciation And Amortization And Real Estate Taxes And Insurance 124,205 123,848 +0.3%
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Limited Partner [Member] 124,205 123,848 +0.3%
Real Estate Taxes And Insurance 81,531 81,085 +0.6%
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Limited Partner [Member] 81,531 81,085 +0.6%
Depreciation And Amortization 159,774 150,852 +5.9%
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Limited Partner [Member] 159,774 150,852 +5.9%
Property Operating Expenses 365,510 355,785 +2.7%
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Limited Partner [Member] 365,510 355,785 +2.7%
Other Cost And Expense Operating 18,507 17,579 +5.3%
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Limited Partner [Member] 18,507 17,579 +5.3%
General & Administrative 13,850 14,072 -1.6%
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Limited Partner [Member] 13,850 14,072 -1.6%
Interest Expense 48,708 44,192 +10.2%
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Limited Partner [Member] 48,708 44,192 +10.2%
Gain Loss On Sale Of Property Plant Equipment -224 -55,028 +99.6%
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Limited Partner [Member] -224 -55,028 +99.6%
Other Non-Operating Income (Expense) 51,464 949 +5323.0%
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Limited Partner [Member] 51,464 949 +5323.0%
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments 57,741 172,283 -66.5%
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Limited Partner [Member] 57,741 172,283 -66.5%
Income Tax Expense (Benefit) -1,191 -1,755 +32.1%
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Limited Partner [Member] -1,191 -1,755 +32.1%
Income Loss From Continuing Operations Before Equity Method Investments 56,550 170,528 -66.8%
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Limited Partner [Member] 56,550 170,528 -66.8%
Income Loss From Equity Method Investments 691 546 +26.6%
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Limited Partner [Member] 691 546 +26.6%
Net Income 57,241 171,074 -66.5%
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Limited Partner [Member] 57,241 171,074 -66.5%
Net Income Loss Attributable To Noncontrolling Interest -330 4,428 -107.5%
Net Income 57,571 166,646 -65.5%
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Limited Partner [Member] 58,968 171,074 -65.5%
Preferred Stock Dividends Income Statement Impact 922 922 0.0%
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Limited Partner [Member] 922 922 0.0%
Net Income Loss Available To Common Stockholders Basic 56,649 165,724 -65.8%
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Limited Partner [Member] 58,046 170,152 -65.9%
EPS (Basic) 0.49 1.42 -65.5%
Basic Earnings Per Unit (Q)
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Limited Partner [Member] 0.49 1.42 -65.5%
EPS (Diluted) 0.48 1.42 -66.2%
Diluted Earnings Per Unit (Q)
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Limited Partner [Member] 0.48 1.42 -66.2%
Operating Expenses 205,736 204,933 +0.4%
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Non-Same Store and Other 17,044 17,463 -2.4%
Same Store [Member] 188,692 187,470 +0.7%
Comprehensive Income 57,963 167,065 -65.3%
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Limited Partner [Member] 59,369 171,504 -65.4%
Wtd Avg Shares (Basic) 11 18 -38.9%
Wtd Avg Shares (Diluted) -12 18 -166.7%
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Limited Partner [Member] -26 10 -360.0%
Revenue From Contract With Customer Including Assessed Tax (Q)
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Non-Same Store and Other 36,808 30,854 +19.3%
Same Store [Member] 515,466 515,778 -0.1%

Balance Sheet

Balance Sheet
Metric Q4 2025 Q4 2024 YoY
Current Assets
Cash & Cash Equivalents 60,258 43,018 +40.1%
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Limited Partner [Member] 60,258 43,018 +40.1%
Non-Current Assets
Total Assets 11,975,383 11,812,369 +1.4%
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Real Estate · Limited Partner [Member] 386.4 432.2 -10.6%
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Corporate 188,528 157,632 +19.6%
Non-Same Store and Other 2,180,086 1,814,597 +20.1%
Same Store [Member] 9,606,769 9,840,140 -2.4%
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Limited Partner [Member] 11,975,383 11,812,369 +1.4%
Operating Lease Right-of-Use Assets 38 40.5 -6.2%
Other Assets
Land 2,129,401 2,096,912 +1.5%
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Limited Partner [Member] 2,129,401 2,096,912 +1.5%
Buildings Improvements And Other 14,852,509 14,160,799 +4.9%
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Limited Partner [Member] 14,852,509 14,160,799 +4.9%
Construction In Progress Gross 426,759 470,282 -9.3%
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Limited Partner [Member] 426,759 470,282 -9.3%
Limited Partner [Member] · Costs Incurred To Date [Member] 625.6
Real Estate Investment Property At Cost 17,408,669 16,727,993 +4.1%
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Limited Partner [Member] 17,408,669 16,727,993 +4.1%
Show Finite Lived Intangible Assets By Major Class breakouts
Leases Acquired In Place 0.3 1 -70.0%
Real Estate Investment Property Accumulated Depreciation -5,914,017 -5,327,584 -11.0%
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Limited Partner [Member] -5,914,017 -5,327,584 -11.0%
Real Estate Investment Property Net 11,494,652 11,400,409 +0.8%
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Limited Partner [Member] 11,494,652 11,400,409 +0.8%
Land Available For Development 73,359 73,359 0.0%
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Limited Partner [Member] 73,359 73,359 0.0%
Investments In Affiliates Subsidiaries Associates And Joint Ventures 41,313 41,650 -0.8%
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Limited Partner [Member] 41,313 41,650 -0.8%
Real Estate Assets Net 11,609,324 11,515,418 +0.8%
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Limited Partner [Member] 11,609,324 11,515,418 +0.8%
Restricted Cash 13,717 13,743 -0.2%
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Limited Partner [Member] 13,717 13,743 -0.2%
Other Assets 245,683 232,426 +5.7%
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Limited Partner [Member] 245,683 232,426 +5.7%
Assets Held For Sale Not Part Of Disposal Group 46,401 7,764 +497.6%
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Limited Partner [Member] 46,401 7,764 +497.6%
Current Liabilities
Other Liabilities Current (Q)
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Limited Partner [Member] · Related Party 19 19 0.0%
Accrued Liabilities (Q)
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Accrued Liabilities 28,892 27,564 +4.8%
Non-Current Liabilities
Accrued Liabilities Current And Noncurrent 730,366 683,748 +6.8%
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Limited Partner [Member] 730,366 683,748 +6.8%
Total Liabilities 6,135,738 5,664,705 +8.3%
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Real Estate · Limited Partner [Member] 16.7 27.1 -38.4%
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Limited Partner [Member] 6,135,757 5,664,724 +8.3%
Long-Term Debt (Q)
Show Debt Instrument breakouts
Maturities [Member] 5,439,293
Show Real Estate And Accumulated Depreciation Description Of Property breakouts
Encumbrance1 191.3
Encumbrance2 172
Other Liabilities
Unsecured Debt 5,044,979 4,620,690 +9.2%
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Unsecured Senior Notes Due September 2026 [Member] 300
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Limited Partner [Member] 5,044,979 4,620,690 +9.2%
Show Credit Facility breakouts
Commercial Paper 676
Secured Debt 360,393 360,267 0.0%
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Limited Partner [Member] 360,393 360,267 0.0%
Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests 20,402 22,230 -8.2%
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Limited Partner [Member] 20,402 22,230 -8.2%
Stockholders' Equity
Preferred Stock Value Outstanding 9 9 0.0%
Common Stock Value Outstanding 1,166 1,166 0.0%
Additional Paid-In Capital 7,401,962 7,417,453 -0.2%
Accumulated Distributions In Excess Of Net Income -1,734,986 -1,469,557 -18.1%
Accumulated Other Comprehensive Income -5,300 -6,940 +23.6%
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Limited Partner [Member] -5,375 -7,064 +23.9%
Total Stockholders' Equity 5,662,851 5,942,131 -4.7%
Minority Interest In Operating Partnerships 141,503 155,409 -8.9%
Parent L P Stockholders Equity Including Portion Attributable To Noncontrolling Interest 5,804,354 6,097,540 -4.8%
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Limited Partner [Member] 5,804,335 6,097,521 -4.8%
Minority Interest In Joint Ventures 14,889 27,894 -46.6%
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Limited Partner [Member] 14,889 27,894 -46.6%
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 5,819,243 6,125,434 -5.0%
Show Equity Components breakouts
Accumulated Distributions In Excess Of Net Income -1,734,986 -1,469,557 -18.1%
Accumulated Other Comprehensive Income -5,300 -6,940 +23.6%
Additional Paid In Capital 7,401,962 7,417,453 -0.2%
Common Stock 1,166 1,166 0.0%
Noncontrolling Interests Operating Partnership [Member] 141,503 155,409 -8.9%
Noncontrolling Interests-Consolidated Real Estate Entities [Member] 14,889 27,894 -46.6%
Preferred Stock 9 9 0.0%
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Limited Partner [Member] 5,819,224 6,125,415 -5.0%
Redeemable Common Stock [Member] 20,402 22,230 -8.2%
Total Liabilities & Equity 11,975,383 11,812,369 +1.4%
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Limited Partner [Member] 11,975,383 11,812,369 +1.4%
Preferred Units Preferred Partners Capital Accounts (Q)
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Limited Partner [Member] 66,840 66,840 0.0%
General Partners Capital Account (Q)
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Limited Partner [Member] 5,601,367 5,882,336 -4.8%
Limited Partners Capital Account 408.7 475.4 -14.0%
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Limited Partner [Member] 141,503 155,409 -8.9%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q4 2025 YTD Q4 2024 YoY
Operating Activities
Depreciation & Amortization 159,942 151,060 +5.9%
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Limited Partner [Member] 159,942 151,060 +5.9%
Gain Loss On Disposition Of Assets -224 -55,028 +99.6%
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Limited Partner [Member] -224 -55,028 +99.6%
Derivative Gain Loss On Derivative Net 2,181 4,300 -49.3%
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Nondesignated 2,181 4,300 -49.3%
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Limited Partner [Member] 2,181 4,300 -49.3%
Stock-Based Compensation 4,696 3,393 +38.4%
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Limited Partner [Member] 4,696 3,393 +38.4%
Amortization Of Debt Discount Premium 1,698 1,468 +15.7%
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Limited Partner [Member] 1,698 1,468 +15.7%
Gain Loss From Unconsolidated Limited Partnerships Net Of Distributions Received -1,687 -4,143 +59.3%
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Limited Partner [Member] -1,687 -4,143 +59.3%
Other Operating Activities Cash Flow Statement -8,793 -71,383 +87.7%
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Limited Partner [Member] -8,793 -71,383 +87.7%
Net Cash from Operations 261,672 239,127 +9.4%
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Limited Partner [Member] 261,672 239,127 +9.4%
Investing Activities
Payments To Acquire Real Estate And Other Assets -28,567 -111,967 +74.5%
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Limited Partner [Member] -28,567 -111,967 +74.5%
Payments For Capital Improvements -103,075 -86,516 -19.1%
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Limited Partner [Member] -103,075 -86,516 -19.1%
Payments To Acquire In Process Research And Development -64,735 -58,672 -10.3%
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Limited Partner [Member] -64,735 -58,672 -10.3%
Payments To Acquire Equity Method Investments -1,675 -1,000 -67.5%
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Limited Partner [Member] -1,675 -1,000 -67.5%
Net Proceeds From Insurance Recoveries -35 -8 -337.5%
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Limited Partner [Member] -35 -8 -337.5%
Net Cash from Investing -197,525 -173,911 -13.6%
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Limited Partner [Member] -197,525 -173,911 -13.6%
Distribution On Common Units Declared And Accrued 1,488 5,403 -72.5%
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Limited Partner [Member] 1,488 5,403 -72.5%
Construction In Progress Expenditures Incurred But Not Yet Paid -11,309 -6,144 -84.1%
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Limited Partner [Member] -11,309 -6,144 -84.1%
Interest Costs Capitalized 4,172 5,247 -20.5%
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Limited Partner [Member] 4,172 5,247 -20.5%
Conversion Of Stock Amount Converted1 0 0
Financing Activities
Proceeds From Repayments Of Commercial Paper 213,000 -240,000 +188.8%
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Limited Partner [Member] 213,000 -240,000 +188.8%
Payments Of Dividends Minority Interest -4,456 -4,521 +1.4%
Payments Of Dividends Common Stock -177,379 -171,815 -3.2%
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Limited Partner [Member] -181,835 -176,336 -3.1%
Payments Of Dividends Preferred Stock And Preference Stock -922 -922 0.0%
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Limited Partner [Member] -922 -922 0.0%
Proceeds From Issuance Of Common Stock 363 275 +32.0%
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Limited Partner [Member] 363 275 +32.0%
Proceeds From Payments For Other Financing Activities 806 539 +49.5%
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Limited Partner [Member] 806 539 +49.5%
Net Cash from Financing -36,104 -72,516 +50.2%
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Limited Partner [Member] -36,104 -72,516 +50.2%
Supplemental
Interest Paid 37,499 38,381 -2.3%
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Limited Partner [Member] 37,499 38,381 -2.3%
Income Taxes Paid 58 70 -17.1%
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Limited Partner [Member] 58 70 -17.1%
Other Cash Flow
Net Change in Cash 28,043 -7,300 +484.2%
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Limited Partner [Member] 28,043 -7,300 +484.2%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 73,975 56,761 +30.3%
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Limited Partner [Member] 73,975 56,761 +30.3%

Values in thousands USD. Source: SEC EDGAR 10-K filing.

This table is rendered from the same JSON returned by /api/financials.

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