Mid-America Apartment Communities Inc
NYSE:MAA
Income Statement
Earnings Waterfall
Mid-America Apartment Communities Inc
Revenue
|
2.1B
USD
|
Cost of Revenue
|
-835.9m
USD
|
Gross Profit
|
1.3B
USD
|
Operating Expenses
|
-623.6m
USD
|
Operating Income
|
688.9m
USD
|
Other Expenses
|
-140m
USD
|
Net Income
|
548.9m
USD
|
Income Statement
Mid-America Apartment Communities Inc
Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
636
N/A
|
752
+18%
|
865
+15%
|
980
+13%
|
992
+1%
|
1 007
+1%
|
1 020
+1%
|
1 033
+1%
|
1 043
+1%
|
1 053
+1%
|
1 067
+1%
|
1 081
+1%
|
1 125
+4%
|
1 235
+10%
|
1 346
+9%
|
1 454
+8%
|
1 529
+5%
|
1 536
+0%
|
1 543
+0%
|
1 556
+1%
|
1 571
+1%
|
1 587
+1%
|
1 604
+1%
|
1 622
+1%
|
1 641
+1%
|
1 658
+1%
|
1 664
+0%
|
1 671
+0%
|
1 678
+0%
|
1 685
+0%
|
1 709
+1%
|
1 738
+2%
|
1 778
+2%
|
1 829
+3%
|
1 887
+3%
|
1 956
+4%
|
2 020
+3%
|
2 073
+3%
|
2 113
+2%
|
2 134
+1%
|
2 148
+1%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(208)
|
(246)
|
(285)
|
(321)
|
(324)
|
(328)
|
(327)
|
(328)
|
(329)
|
(330)
|
(333)
|
(338)
|
(351)
|
(385)
|
(422)
|
(458)
|
(620)
|
(555)
|
(593)
|
(635)
|
(642)
|
(648)
|
(656)
|
(663)
|
(668)
|
(672)
|
(674)
|
(683)
|
(693)
|
(700)
|
(714)
|
(718)
|
(727)
|
(738)
|
(752)
|
(773)
|
(789)
|
(804)
|
(817)
|
(825)
|
(836)
|
|
Gross Profit |
427
N/A
|
505
+18%
|
580
+15%
|
658
+13%
|
669
+2%
|
679
+2%
|
693
+2%
|
705
+2%
|
714
+1%
|
723
+1%
|
733
+1%
|
744
+1%
|
775
+4%
|
850
+10%
|
924
+9%
|
995
+8%
|
909
-9%
|
981
+8%
|
950
-3%
|
921
-3%
|
929
+1%
|
938
+1%
|
948
+1%
|
959
+1%
|
973
+1%
|
986
+1%
|
990
+0%
|
988
0%
|
985
0%
|
985
0%
|
995
+1%
|
1 020
+3%
|
1 051
+3%
|
1 092
+4%
|
1 135
+4%
|
1 182
+4%
|
1 231
+4%
|
1 269
+3%
|
1 296
+2%
|
1 309
+1%
|
1 313
+0%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(271)
|
(341)
|
(391)
|
(442)
|
(424)
|
(410)
|
(417)
|
(420)
|
(423)
|
(425)
|
(427)
|
(432)
|
(459)
|
(528)
|
(590)
|
(641)
|
(534)
|
(592)
|
(554)
|
(523)
|
(525)
|
(530)
|
(532)
|
(537)
|
(543)
|
(547)
|
(550)
|
(553)
|
(558)
|
(563)
|
(570)
|
(578)
|
(586)
|
(592)
|
(597)
|
(598)
|
(602)
|
(606)
|
(609)
|
(621)
|
(624)
|
|
Selling, General & Administrative |
(84)
|
(96)
|
(109)
|
(123)
|
(123)
|
(126)
|
(128)
|
(127)
|
(129)
|
(128)
|
(129)
|
(130)
|
(136)
|
(150)
|
(162)
|
(172)
|
(40)
|
(108)
|
(73)
|
(35)
|
(35)
|
(38)
|
(39)
|
(44)
|
(46)
|
(46)
|
(46)
|
(46)
|
(47)
|
(47)
|
(49)
|
(51)
|
(53)
|
(56)
|
(59)
|
(58)
|
(59)
|
(58)
|
(57)
|
(58)
|
(59)
|
|
Depreciation & Amortization |
(187)
|
(245)
|
(282)
|
(320)
|
(302)
|
(285)
|
(290)
|
(293)
|
(295)
|
(297)
|
(298)
|
(302)
|
(323)
|
(378)
|
(429)
|
(469)
|
(494)
|
(484)
|
(481)
|
(488)
|
(490)
|
(492)
|
(493)
|
(493)
|
(497)
|
(500)
|
(504)
|
(507)
|
(511)
|
(516)
|
(521)
|
(528)
|
(533)
|
(536)
|
(538)
|
(540)
|
(543)
|
(548)
|
(553)
|
(562)
|
(565)
|
|
Operating Income |
156
N/A
|
165
+5%
|
189
+15%
|
216
+14%
|
244
+13%
|
269
+10%
|
276
+3%
|
285
+3%
|
291
+2%
|
299
+3%
|
307
+3%
|
312
+2%
|
316
+1%
|
322
+2%
|
334
+4%
|
354
+6%
|
375
+6%
|
389
+4%
|
397
+2%
|
398
+0%
|
405
+2%
|
409
+1%
|
416
+2%
|
422
+1%
|
430
+2%
|
439
+2%
|
440
+0%
|
435
-1%
|
428
-2%
|
422
-1%
|
425
+1%
|
442
+4%
|
465
+5%
|
500
+8%
|
538
+8%
|
584
+8%
|
629
+8%
|
663
+5%
|
687
+4%
|
689
+0%
|
689
+0%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
(79)
|
(94)
|
(108)
|
(122)
|
(123)
|
(122)
|
(122)
|
(124)
|
(123)
|
(124)
|
(125)
|
(127)
|
(129)
|
(131)
|
(137)
|
(140)
|
(155)
|
(157)
|
(160)
|
(169)
|
(176)
|
(179)
|
(179)
|
(163)
|
(162)
|
(187)
|
(172)
|
(183)
|
(160)
|
(143)
|
(137)
|
(115)
|
(121)
|
(102)
|
(159)
|
(187)
|
(212)
|
(210)
|
(158)
|
(166)
|
(127)
|
|
Non-Reccuring Items |
(39)
|
(45)
|
(44)
|
(41)
|
(17)
|
(14)
|
(11)
|
(8)
|
(6)
|
(3)
|
(3)
|
(7)
|
(44)
|
(49)
|
(51)
|
(49)
|
(20)
|
(15)
|
(15)
|
(14)
|
(9)
|
(5)
|
(3)
|
(1)
|
0
|
(1)
|
(3)
|
(5)
|
(4)
|
(6)
|
(3)
|
(15)
|
(14)
|
(5)
|
9
|
30
|
21
|
14
|
1
|
(6)
|
4
|
|
Gain/Loss on Disposition of Assets |
0
|
4
|
7
|
43
|
43
|
70
|
172
|
190
|
190
|
162
|
58
|
51
|
83
|
80
|
80
|
91
|
127
|
128
|
130
|
72
|
5
|
13
|
11
|
11
|
93
|
84
|
83
|
84
|
1
|
1
|
136
|
135
|
221
|
221
|
219
|
219
|
216
|
216
|
83
|
83
|
(0)
|
|
Total Other Income |
(0)
|
(0)
|
(1)
|
(1)
|
(1)
|
(0)
|
0
|
1
|
1
|
(0)
|
1
|
1
|
0
|
1
|
(1)
|
0
|
14
|
4
|
9
|
10
|
8
|
9
|
4
|
8
|
7
|
6
|
7
|
3
|
2
|
2
|
3
|
5
|
12
|
11
|
5
|
1
|
(7)
|
(7)
|
2
|
4
|
6
|
|
Pre-Tax Income |
39
N/A
|
29
-25%
|
43
+50%
|
95
+119%
|
147
+55%
|
202
+37%
|
315
+56%
|
344
+9%
|
352
+2%
|
333
-5%
|
237
-29%
|
229
-3%
|
226
-1%
|
224
-1%
|
226
+1%
|
256
+13%
|
342
+34%
|
349
+2%
|
361
+3%
|
297
-18%
|
232
-22%
|
247
+7%
|
249
+1%
|
277
+11%
|
369
+33%
|
341
-8%
|
355
+4%
|
335
-6%
|
266
-21%
|
277
+4%
|
424
+53%
|
451
+6%
|
563
+25%
|
625
+11%
|
613
-2%
|
647
+6%
|
647
0%
|
675
+4%
|
614
-9%
|
603
-2%
|
571
-5%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(1)
|
(1)
|
(1)
|
(1)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(3)
|
(4)
|
(5)
|
(7)
|
(14)
|
(11)
|
(6)
|
(2)
|
6
|
4
|
(2)
|
(3)
|
(5)
|
|
Income from Continuing Operations |
38
|
28
|
42
|
94
|
145
|
199
|
313
|
342
|
351
|
332
|
236
|
228
|
224
|
222
|
224
|
253
|
339
|
346
|
358
|
294
|
229
|
244
|
247
|
273
|
365
|
337
|
351
|
331
|
263
|
274
|
420
|
445
|
550
|
614
|
607
|
645
|
653
|
679
|
612
|
600
|
566
|
|
Income to Minority Interest |
(4)
|
(4)
|
(5)
|
(8)
|
(8)
|
(11)
|
(17)
|
(18)
|
(19)
|
(18)
|
(12)
|
(12)
|
(12)
|
(11)
|
(11)
|
(10)
|
(12)
|
(12)
|
(13)
|
(11)
|
(8)
|
(9)
|
(9)
|
(10)
|
(13)
|
(12)
|
(12)
|
(12)
|
(9)
|
(10)
|
(14)
|
(15)
|
(17)
|
(18)
|
(17)
|
(17)
|
(17)
|
(18)
|
(16)
|
(16)
|
(15)
|
|
Equity Earnings Affiliates |
0
|
0
|
3
|
6
|
6
|
6
|
3
|
0
|
0
|
0
|
0
|
0
|
0
|
1
|
1
|
1
|
1
|
1
|
2
|
2
|
2
|
2
|
2
|
2
|
2
|
2
|
2
|
2
|
2
|
1
|
1
|
1
|
1
|
1
|
1
|
1
|
2
|
2
|
2
|
2
|
2
|
|
Net Income (Common) |
115
N/A
|
109
-6%
|
81
-25%
|
104
+28%
|
148
+42%
|
194
+31%
|
299
+54%
|
323
+8%
|
332
+3%
|
314
-5%
|
223
-29%
|
215
-3%
|
211
-2%
|
209
-1%
|
211
+1%
|
241
+14%
|
324
+35%
|
331
+2%
|
343
+3%
|
281
-18%
|
219
-22%
|
234
+7%
|
236
+1%
|
262
+11%
|
350
+34%
|
323
-8%
|
336
+4%
|
317
-6%
|
251
-21%
|
261
+4%
|
403
+54%
|
427
+6%
|
530
+24%
|
593
+12%
|
587
-1%
|
625
+6%
|
633
+1%
|
658
+4%
|
594
-10%
|
582
-2%
|
549
-6%
|