Earnings per share of the Trust (Notes)

12 Months Ended

Dec. 31, 2013

Earnings per share of the trust [Abstract]

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

Basic earnings per share is computed by dividing net income attributable to common shareholders by the weighted average number of shares outstanding during the period.  All outstanding unvested restricted share awards contain rights to non-forfeitable dividends and participate in undistributed earnings with common shareholders and, accordingly, are considered participating securities that are included in the two-class method of computing basic earnings per share. Both the unvested restricted shares and other potentially dilutive common shares, and the related impact to earnings, are considered when calculating earnings per share on a diluted basis with our diluted earnings per share being the more dilutive of the treasury stock or two-class methods.  Operating partnership units are included in dilutive earnings per share calculations when they are dilutive to earnings per share. For the years ended December 31, 2013, 2012, and 2011, MAA's basic earnings per share is computed using the two-class method, and our diluted earnings per share is computed using the more dilutive of the treasury stock method or two-class method:

(dollars and shares in thousands, except per share amounts)	Years ended December 31,
	2013			2012			2011
Shares Outstanding
Weighted average common shares - basic	50,677			41,039			36,995
Weighted average partnership units outstanding	2,351			1,834			1,992
Effect of dilutive securities	88			64			100
Weighted average common shares - diluted	53,116			42,937			39,087
Calculation of Earnings per Share - basic
Income from continuing operations	$	37,277		$	61,204		$	28,702
Income from continuing operations attributable to noncontrolling interests	(1,131		)	(2,414		)	(1,267		)
Income from continuing operations allocated to unvested restricted shares	(34		)	(53		)	(22		)
Income from continuing operations available for common shareholders, adjusted	$	36,112		$	58,737		$	27,413
Income from discontinued operations	$	82,002		$	48,621		$	22,529
Income from discontinued operations attributable to noncontrolling interest	(2,867		)	(2,188		)	(1,143		)
Income from discontinued operations allocated to unvested restricted shares	(74		)	(41		)	(11		)
Income from discontinued operations available for common shareholders, adjusted	$	79,061		$	46,392		$	21,375
Weighted average common shares - basic	50,677			41,039			36,995
Earnings per share - basic	$	2.27		$	2.56		$	1.32
Calculation of Earnings per Share - diluted
Income from continuing operations	$	37,277		$	61,204		$	28,702
Income from discontinued operations	$	82,002		$	48,621		$	22,529
Weighted average common shares - diluted	53,116			42,937			39,087
Earnings per share - diluted	$	2.25		$	2.56		$	1.31

Basic earnings per OP Unit is computed by dividing net income available for common unitholders by the weighted average number of units outstanding during the period. All outstanding unvested restricted share awards contain rights to non-forfeitable dividends 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 OP unit. Diluted earnings per OP 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 unit computations for the years ended December 31, 2013, 2012, and 2011 is presented below:

(dollars and units in thousands, except per unit amounts)	Years ended December 31,
	2013		2012		2011
Units Outstanding
Weighted average common units - basic	53,075		42,911		39,051
Effect of dilutive securities	88		64		100
Weighted average common units - diluted	53,163		42,975		39,151
Calculation of Earnings per Unit - basic
Income from continuing operations	$	37,277	$	61,204	$	28,702
Income from continuing operations allocated to unvested restricted shares	33		53		21
Income from continuing operations available for common unitholders, adjusted	$	37,244	$	61,151	$	28,681
Income from discontinued operations	$	70,267	$	47,836	$	21,886
Income from discontinued operations allocated to unvested restricted shares	62		41		10
Income from discontinued operations available for common unitholders, adjusted	$	70,205	$	47,795	$	21,876
Earnings per unit - basic:	$	2.02	$	2.54	$	1.29
Calculation of Earnings per Unit - diluted
Income from continuing operations	$	37,277	$	61,204	$	28,702
Income from discontinued operations	$	70,267	$	47,836	$	21,886
Earnings per unit - diluted:	$	2.02	$	2.54	$	1.29