Earnings Per Common Share of MAA (Tables)

6 Months Ended

Jun. 30, 2019

Earnings Per Common Share Of M A A [Abstract]

Schedule of Computation of Diluted Earnings per Share

For the three and six months ended June 30, 2019 and 2018, MAA's diluted earnings per share was computed using the treasury stock method as presented below (dollars and shares in thousands, except per share amounts):

	Three months ended June 30,						Six months ended June 30,
	2019			2018			2019			2018
Calculation of Earnings per Common Share - basic
Net income	$	64,141		$	61,981		$	130,099		$	112,801
Net income attributable to noncontrolling interests		(2,224	)		(2,174	)		(4,522	)		(3,975	)
Unvested restricted stock (allocation of earnings)		(96	)		(78	)		(184	)		(142	)
Preferred dividends		(922	)		(922	)		(1,844	)		(1,844	)
Net income available for common shareholders, adjusted	$	60,899		$	58,807		$	123,549		$	106,840

Weighted average common shares - basic		113,838			113,646			113,783			113,595
Earnings per common share - basic	$	0.53		$	0.52		$	1.09		$	0.94

Calculation of Earnings per Common Share - diluted
Net income	$	64,141		$	61,981		$	130,099		$	112,801
Net income attributable to noncontrolling interests ⁽¹⁾		(2,224	)		(2,174	)		(4,522	)		(3,975	)
Preferred dividends		(922	)		(922	)		(1,844	)		(1,844	)
Net income available for common shareholders, adjusted	$	60,995		$	58,885		$	123,733		$	106,982

Weighted average common shares - basic		113,838			113,646			113,783			113,595
Effect of dilutive securities		249			207			211			174
Weighted average common shares - diluted		114,087			113,853			113,994			113,769
Earnings per common share - diluted	$	0.53		$	0.52		$	1.09		$	0.94

⁽¹⁾

^{For the three months ended June 30, 2019 and June 30, 2018, 4.1 million OP Units and their related income are not included in the diluted earnings per share calculations as they are not dilutive. For the six months ended June 30, 2019 and June 30, 2018, 4.1 million OP Units and 4.2 million OP Units, respectively, and their related income are not included in the diluted earnings per share calculations as they are not dilutive.}