Earnings Per Common Share of MAA (Tables)

12 Months Ended

Dec. 31, 2019

Earnings Per Common Share Of M A A [Abstract]

Schedule of Computation of Diluted Earnings per Share

For the years ended December 31, 2019, 2018 and 2017, 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):

	2019				2018				2017
Calculation of Earnings per common share - basic
Net income	$	366,618			$	231,022			$	340,536
Net income attributable to noncontrolling interests		(12,807	)			(8,123	)			(12,157	)
Unvested restricted stock (allocation of earnings)		(519	)			(291	)			(535	)
Preferred dividends		(3,688	)			(3,688	)			(3,688	)
Net income available for MAA common shareholders, adjusted	$	349,604			$	218,920			$	324,156

Weighted average common shares - basic		113,854				113,638				113,407
Earnings per common share - basic	$	3.07			$	1.93			$	2.86

Calculation of Earnings per common share - diluted
Net income	$	366,618			$	231,022			$	340,536
Net income attributable to noncontrolling interests		(12,807	)	⁽¹⁾		(8,123	)	⁽¹⁾		(12,157	)	⁽¹⁾
Preferred dividends		(3,688	)			(3,688	)			(3,688	)
Net income available for MAA common shareholders, adjusted	$	350,123			$	219,211			$	324,691

Weighted average common shares - basic		113,854				113,638				113,407
Effect of dilutive securities		259				198				280
Weighted average common shares - diluted		114,113				113,836				113,687
Earnings per common share - diluted	$	3.07			$	1.93			$	2.86

⁽¹⁾	^{For the years ended December 31, 2019, 2018 and 2017, 4.1 million, 4.1 million and 4.2 million OP Units and their related income, respectively, are not included in the diluted earnings per share calculations as they are not dilutive.}