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MID-AMER APT CM   FYE=12 (December)

Annual - Income Statement - Company Specific

Fiscal period2020201920182017201620152014201320122011
Period End Date12/31/202012/31/201912/31/201812/31/201712/31/201612/31/201512/31/201412/31/201312/31/201212/31/2011
Rental revenues1,677.981,641.021,571.351,528.991,125.351,042.78902.18580.96436.66373.80
Management fee income------------0.150.650.901.02
Interest and other non-property income--------------------
Equity in loss of real estate joint venture--------------------
Other property revenues------------90.0053.8838.3334.97
Total operating revenues1,677.981,641.021,571.351,528.991,125.351,042.78992.33635.49475.89409.78
Property operating expenses387.97377.45371.10364.19280.57271.03--------
Utilities------------89.1551.7425.9423.85
Personnel------------101.5968.3054.3648.94
Building repairs and maintenance------------30.7220.3115.0313.73
Landscaping------------20.1113.3210.459.64
Property management expenses52.3055.0147.6343.5934.0930.9932.1023.0821.2819.97
Real estate taxes and insurance252.51235.39223.49212.54142.78129.62123.4276.9255.0246.94
Depreciation--------------186.98121.21106.01
Depreciation and amortization510.84496.84489.76493.71322.96294.52301.81------
General and administrative expenses46.8643.8538.8640.1929.0425.7220.9115.5713.7618.12
Other operating------------(28.36)(23.05)(33.35)(30.46)
Acquisition expense------------(2.39)(1.39)(1.58)(3.32)
Integration related expenses------------(8.40)(5.10)----
Merger-related expenses------(19.99)(40.82)--(3.15)------
Income (Loss) from Operating----------290.91--------
Interest expense167.56179.85173.59154.75129.95122.34123.9578.9857.9456.38
Acquisition expenses--------------------
Merger related expenses0.000.00(9.11)--------(32.40)----
Gain on sale of non-depreciable assets--------2.17--------1.08
Gain on sale of depreciable real estate assets excluded from discontinued operations0.0180.99(0.04)127.3980.40189.9642.65------
Gain (Loss) on sale of non-depreciable real estate assets1.0212.054.530.02--0.170.35--0.05--
Loss on debt extinguishment------------(2.59)(0.43)(0.65)(0.76)
Gain on disposition within real estate joint ventures--------------------
Income (loss) from investments in real estate joint ventures--------------------
Minority interest in operating partnership income--------------------
Interest and other non-property income----------(6.27)0.770.470.430.80
Amortization of deferred financing costs----------------(3.55)(2.90)
Incentive fee from real estate joint ventures--------------------
Net gain on insurance and other settlement proceeds------------(0.48)(0.14)(0.01)(0.62)
Other non-operating (expense) income4.8623.009.5014.35(1.84)----------
Income (Loss) before income tax expense265.84368.66231.80341.79225.86352.42146.9938.2562.2330.02
Income tax expense3.333.702.612.621.701.672.050.890.800.73
Gains (loss) from real estate joint ventures1.501.651.831.370.240.006.010.34(0.22)(0.59)
Income from continuing operations----------350.75150.9537.6961.2028.70
Discontinued operations: Gain on sale of discontinued operations----------------41.6412.80
Gain on sale of discontinued operations------------5.3976.84----
Discontinued operations: Income from discontinued operations before asset impairment, settlement proceeds and gain on sa--------------0.096.949.74
Discontinued operations: Asset impairment on discontinued operations--------------------
Discontinued operations: Net gain (loss) on insurance and other settlement proceeds on discontinued operations----------------0.05(0.01)
Discontinued operations:Net loss on insurance and other settlement proceeds on------------(0.06)4.65----
Income Before Extraordinary Income & Accounting Change--------------------
Extraordinary items--loss on debt extinguishment, net of minority interst--------------------
Consolidated net income (loss)264.02366.62231.02340.54224.40350.75156.28119.28109.8351.23
Net income attributable to noncontrolling interests9.0512.818.1212.1612.1818.468.304.004.602.41
Preferred dividend distribution3.693.693.693.690.31----------
Premiums and original issuance costs associated with theredemption of preferred stock--------------------
Premiums and original issuance costs associated with the redemption of preferred stock--------------------
Net income (loss) available to common shareholders251.27350.12219.21324.69211.92332.29147.98115.28105.2248.82
Income from continuing operations------------1.900.721.430.74
Discontinued property operations------------0.071.551.130.58
Extraordinary items--------------------
Net Earnings Per Share (Basic)2.203.071.932.862.694.411.972.272.561.32
Income from continuing operations------------1.900.711.430.73
Discontinued property operations------------0.071.541.130.58
Extraordinary items--------------------
Net Earnings Per Share (Diluted)2.193.071.932.862.694.411.972.252.561.31
Weighted Average Shares Outstanding (Basic)114.19113.85113.64113.4178.5075.1874.9850.6841.0437.00
Weighted Average Shares Outstanding (Diluted)114.50114.11113.84113.6978.8075.1874.9853.1242.9439.09
Funds from operations (FFO)765.29773.19712.69699.56463.39452.37404.09231.03196.31155.54