MID AMERICA APARTMENT COMMUNITIES INC
For the period ended Dec 31, 2024. Filed Feb 7, 2025.
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FY2024 · Filed Feb 7, 2025
MAA$118.86-0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows for the
Consolidated Statem ents of Cash Flows
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net income | $541,576 | $567,831 | $654,776 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 586,402 | 565,857 | 544,004 |
| (Gain) loss on sale of depreciable real estate assets | (55,003) | 62 | (214,762) |
| Gain on sale of non-depreciable real estate assets | — | (54) | (809) |
| Gain on consolidation of third-party development | (11,239) | — | — |
| Loss (gain) on embedded derivative in preferred shares | 18,751 | (18,528) | 21,107 |
| Stock compensation expense | 15,789 | 15,699 | 18,798 |
| Amortization of debt issuance costs, discounts and premiums | 6,036 | 5,909 | 6,064 |
| (Gain) loss on investments | (7,809) | (4,449) | 45,357 |
| Net change in operating accounts and other operating activities | 3,789 | 4,860 | (16,056) |
| Net cash provided by operating activities | 1,098,292 | 1,137,187 | 1,058,479 |
| Cash flows from investing activities: | |||
| Purchases of real estate and other assets | (301,071) | (223,453) | (271,428) |
| Capital improvements and other | (322,372) | (341,224) | (296,176) |
| Development costs | (313,888) | (198,152) | (172,124) |
| Distributions from real estate joint venture | 327 | 312 | 538 |
| Contributions to affiliates | (2,874) | (16,636) | (13,849) |
| Proceeds from real estate asset dispositions | 84,209 | 2,946 | 320,491 |
| Proceeds from sale of markable equity securities | 9,975 | — | — |
| Net proceeds from insurance recoveries | 20,195 | 945 | 27,312 |
| Net cash used in investing activities | (825,499) | (775,262) | (405,236) |
| Cash flows from financing activities: | |||
| Net (payments of) proceeds from commercial paper | (245,000) | 475,000 | 20,000 |
| Proceeds from notes payable | 1,091,646 | — | — |
| Principal payments on notes payable | (400,000) | (353,861) | (126,401) |
| Payment of deferred financing costs | (10,317) | (2) | (5,516) |
| Distributions to noncontrolling interests | (18,260) | (17,671) | (14,927) |
| Dividends paid on common shares | (686,900) | (651,717) | (539,605) |
| Dividends paid on preferred shares | (3,688) | (3,688) | (3,688) |
| Proceeds from issuances of common shares | 1,230 | 205,070 | 1,083 |
| Acquisition of noncontrolling interests | — | (15,757) | (43,070) |
| Net change in other financing activities | 166 | (5,279) | (10,646) |
| Net cash used in financing activities | (271,123) | (367,905) | (722,770) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 1,670 | (5,980) | (69,527) |
| Cash, cash equivalents and restricted cash, beginning of period | 55,091 | 61,071 | 130,598 |
| Cash, cash equivalents and restricted cash, end of period | $56,761 | $55,091 | $61,071 |
| The following table provides a reconciliation of cash, cash equivalents and restricted cash to amounts reported within the Consolidated Balance Sheets: | |||
| Reconciliation of cash, cash equivalents and restricted cash at period end: | |||
| Cash and cash equivalents | $43,018 | $41,314 | $38,659 |
| Restricted cash | 13,743 | 13,777 | 22,412 |
| Total cash, cash equivalents and restricted cash | $56,761 | $55,091 | $61,071 |
| Supplemental information: | |||
| Interest paid | $164,883 | $157,566 | $157,497 |
| Income taxes paid | 3,343 | 4,002 | 3,490 |
| Non-cash transactions: | |||
| Distributions on common shares/ units declared and accrued | $181,738 | $176,162 | $166,103 |
| Accrued construction in progress | 32,903 | 23,345 | 16,484 |
| Interest capitalized | 17,435 | 12,376 | 8,728 |
| Conversion of OP Units to shares of common stock | 3,529 | 1,092 | 2,118 |
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