Mid-America Apartment Communities

Real Estate Multi-Family Residential REITs Memphis, Tennessee Last filing Feb 6, 2026 · FY2025

Balance Sheet

Assets, liabilities, and equity

19 accounts · 5 years

Account	2025	2024	2023	2022	2021
Statement
BS Assets Cash	$60.3M	$43.0M	$41.3M	$38.7M	$54.3M
BS Assets Short Term Invest	$3.9M	$3.3M	$18.6M	$8.0M	—
BS Assets Other Current Assets	$245.7M	$232.4M	$245.5M	$193.9M	$255.7M
BS Assets Op Lease ROU	$38.0M	$40.5M	$42.5M	$44.6M	$47.0M
BS Assets Other Noncurrent	$245.7M	$232.4M	$245.5M	$193.9M	$255.7M
BS Assets Total	$12.0B	$11.8B	$11.5B	$11.2B	$11.3B
BS Liab Accrued Liab	$730.4M	$683.7M	$645.2M	$615.8M	$584.4M
BS Liab Op Lease Current	$24.3M	$26.1M	$27.3M	$28.7M	$30.3M
BS Liab Total Current	$6.1B	$5.7B	$5.2B	$5.0B	$5.1B
BS Liab Long Term Debt	$0	$0	$0	$0	$0
BS Liab Op Lease Noncurrent	$24.3M	$26.1M	$27.3M	$28.7M	$30.3M
BS Liab Total	$6.1B	$5.7B	$5.2B	$5.0B	$5.1B
BS Equity Preferred Stock	$9.0K	$9.0K	$9.0K	$9.0K	$9.0K
BS Equity Common Stock	$1.2M	$1.2M	$1.2M	$1.2M	$1.2M
BS Equity APIC	$7.4B	$7.4B	$7.4B	$7.2B	$7.2B
BS Equity Treasury Stock	$132	—	—	—	—
BS Equity AOCI	$-5.3M	$-6.9M	$-8.8M	$-10.1M	$-11.1M
BS Equity Total	$5.7B	$5.9B	$6.1B	$6.0B	$6.0B
BS Equity Total Liab and Equity	$12.0B	$11.8B	$11.5B	$11.2B	$11.3B

Income Statement

Revenue, expense, and profitability

15 accounts · 5 years

Revenue $2.2B

Net income $446.9M

Account	2025	2024	2023	2022	2021
Statement
IS Revenue Total	$2.2B	$2.2B	$2.1B	$2.0B	$1.8B
IS Expense SGA	$54.8M	$56.5M	$58.6M	$58.8M	$52.9M
IS Expense DA	$623.0M	$586.4M	$565.9M	$544.0M	$534.4M
IS Expense SBC	$16.8M	$15.8M	$15.7M	$18.8M	$16.7M
IS Expense Total Opex	$837.8M	$820.1M	$768.1M	$723.7M	—
IS Interest Expense	$185.3M	$168.5M	$149.2M	$154.7M	$156.9M
IS Other Nonop Inc Exp	$-47.2M	$1.7M	$31.2M	$-42.7M	$33.9M
IS Pre Tax Income	$459.1M	$544.9M	$570.8M	$647.0M	$563.1M
IS Tax Expense	$4.6M	$5.2M	$4.7M	$-6.2M	$13.6M
IS net Income	$446.9M	$527.5M	$552.8M	$637.4M	$533.8M
IS Comprehensive Income	$448.5M	$529.4M	$554.1M	$638.5M	$534.8M
IS EPS Basic	$4	$4	$5	$5	$5
IS EPS Diluted	$4	$4	$5	$5	$5
IS Shares Basic	$117.0M	$116.8M	$116.5M	$115.3M	$114.7M
IS Shares Diluted	$117.1M	$116.8M	$116.6M	$115.6M	$115.0M

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 5 years

Account	2025	2024	2023	2022	2021
Statement
CF Ops net Income	$446.9M	$527.5M	$552.8M	$637.4M	$533.8M
CF Ops DA	$622.3M	$585.6M	$565.1M	$543.0M	$533.4M
CF Ops SBC	$16.8M	$15.8M	$15.7M	$18.8M	$16.7M
CF Ops Deferred Tax	$4.6M	$5.2M	$4.7M	$-6.2M	$13.6M
CF Ops Working Capital	$0	$0	$0	$0	$0
CF Ops Other	$9.3M	$-34.8M	$-24.5M	$-16.1M	$55.9M
CF Ops net Cash	$1.1B	$1.1B	$1.1B	$1.1B	$895.0M
CF Inv Capex	$360.2M	$322.4M	$341.2M	$296.2M	$279.6M
CF Inv net Cash	$-690.2M	$-825.5M	$-775.3M	$-405.2M	$-253.6M
CF Fin Debt Repayment	$400.0M	$400.0M	$353.9M	$126.4M	$467.2M
CF Fin Share Repurchases	$27.2M	$0	$0	$14.0M	$9.0M
CF Fin Dividends	$709.0M	$686.9M	$651.7M	$539.6M	$470.4M
CF Fin Stock Issuance	$1.5M	$1.2M	$205.1M	$1.1M	$645.0K
CF Fin Other	$255.0K	$166.0K	$-5.3M	$-10.6M	$-6.8M
CF Fin net Cash	$-370.7M	$-271.1M	$-367.9M	$-722.8M	$-546.4M
CF FX Effect	$74.0M	$56.8M	$55.1M	$61.1M	$130.6M
CF net Change	$17.2M	$1.7M	$-6.0M	$-69.5M	$95.0M
CF Cash Begin	$74.0M	$56.8M	$55.1M	$61.1M	$130.6M
CF Cash End	$74.0M	$56.8M	$55.1M	$61.1M	$130.6M

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Assets, liabilities, and equity

Revenue, expense, and profitability

Operating, investing, and financing flows

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