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Earnings Per OP Unit of MAALP | 12 Months Ended
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Dec. 31, 2018
Earnings Per Unit [Abstract] |
Earnings per OP Unit | Earnings per OP Unit of MAALP Basic earnings per common unit is computed by dividing net income available for common unitholders by the weighted average number of OP Units outstanding during the period. All outstanding unvested restricted unit awards contain rights to non-forfeitable distributions and participate in undistributed earnings with common unitholders and, accordingly, are considered participating securities that are included in the two-class method of computing basic earnings per common unit. Diluted earnings per common unit reflects the potential dilution that could occur if securities or other contracts to issue OP Units were exercised or converted into OP Units. A reconciliation of the numerators and denominators of the basic and diluted earnings per common unit computations for the years ended December 31, 2018, 2017 and 2016 is presented below (dollars and units in thousands, except per unit amounts):
| 2018 |  | 2017 |  | 2016 |
Calculation of Earnings per common unit - basic |  |  |  |  |  |  |  |  |
Net income | $ | 231,022 |  |  | $ | 340,536 |  |  | $ | 224,402 |  |
Unvested restricted stock (allocation of earnings) | (291 | ) |  | (535 | ) |  | (574 | ) |
Preferred unit distributions | (3,688 | ) |  | (3,688 | ) |  | (307 | ) |
Net income available for common unitholders, adjusted | $ | 227,043 |  |  | $ | 336,313 |  |  | $ | 223,521 |  |
Weighted average common units - basic | 117,777 |  |  | 117,617 |  |  | 82,661 |  |
Earnings per common unit - basic | $ | 1.93 |  |  | $ | 2.86 |  |  | $ | 2.70 |  |
Calculation of Earnings per common unit - diluted |  |  |  |  |  |  |  |  |
Net income | $ | 231,022 |  |  | $ | 340,536 |  |  | $ | 224,402 |  |
Preferred unit distributions | (3,688 | ) |  | (3,688 | ) |  | (307 | ) |
Net income available for common unitholders, adjusted | $ | 227,334 |  |  | $ | 336,848 |  |  | $ | 224,095 |  |
Weighted average common units - basic | 117,777 |  |  | 117,617 |  |  | 82,661 |  |
Effect of dilutive securities | 198 |  |  | 280 |  |  | 298 |  |
Weighted average common units - diluted | 117,975 |  |  | 117,897 |  |  | 82,959 |  |
Earnings per common unit - diluted | $ | 1.93 |  |  | $ | 2.86 |  |  | $ | 2.70 |  |

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- References No definition available. + Details
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