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Earnings Per OP Unit of MAALP
 9 Months Ended
Sep. 30, 2015
Earnings Per OP Unit of MAALP [Abstract]  
Earnings Per Unit [Text Block]
Earnings per OP Unit of MAALP

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 three and nine months ended September 30, 2015 and 2014 is presented below:

(dollars and units in thousands, except per unit amounts)
Three months ended September 30,
 
Nine months ended September 30,
 
 
2015
 
2014
 
2015
 
2014
 
Units Outstanding
 
 
 
 
 
 
 
 
Weighted average OP Units - basic
79,374

 
79,263

 
79,356

 
79,148

 
Effect of dilutive securities
—

(1) 
—

(1) 
—

(1) 
—

(1) 
Weighted average OP Units - diluted
79,374

 
79,263

 
79,356

 
79,148

 
 
 
 
 
 
 
 
 
 
Calculation of Earnings per Unit - basic
 
 
 
 
 

 
 

 
Income from continuing operations
$
96,828

 
$
70,827

 
$
305,378

 
$
114,500

 
Income from continuing operations allocated to unvested restricted shares
(221
)
 
(131
)
 
(668
)
 
(212
)
 
Income from continuing operations available for common unitholders, adjusted
$
96,607

 
$
70,696

 
$
304,710

 
$
114,288

 
 
 
 
 
 
 
 
 
 
Income from discontinued operations
$
—

 
$
(108
)
 
$
—

 
$
5,319

 
Income from discontinued operations allocated to unvested restricted shares
—

 
—

 
—

 
(10
)
 
Income from discontinued operations available for common unitholders, adjusted
$
—

 
$
(108
)
 
$
—

 
$
5,309

 
 
 
 
 
 
 
 
 
 
Weighted average OP Units - basic
79,374

 
79,263

 
79,356

 
79,148

 
Earnings per unit - basic:
$
1.22

 
$
0.89

 
$
3.84

 
$
1.51

 
 
 
 
 
 
 
 
 
 
Calculation of Earnings per Unit - diluted
 
 
 
 
 

 
 

 
Income from continuing operations
$
96,828

 
$
70,827

 
$
305,378

 
$
114,500

 
Income from continuing operations allocated to unvested restricted shares
(221
)
(1) 
(131
)
(1) 
(668
)
(1) 
(212
)
(1) 
Income from continuing operations available for common unitholders, adjusted
$
96,607

 
$
70,696

 
$
304,710

 
$
114,288

 
 
 
 
 
 
 
 
 
 
Income from discontinued operations
$
—

 
$
(108
)
 
$
—

 
$
5,319

 
Income from discontinued operations allocated to unvested restricted shares
—

 
—

 
—

 
(10
)
(1) 
Income from discontinued operations available for common unitholders, adjusted
$
—

 
$
(108
)
 
$
—

 
$
5,309

 
 
 
 
 
 
 
 
 
 
Weighted average OP Units - diluted
79,374

 
79,263

 
79,356

 
79,148

 
Earnings per unit - diluted:
$
1.22

 
$
0.89

 
$
3.84

 
$
1.51

 

(1) For the three and nine months ended September 30, 2015 and September 30, 2014, 0.2 million and 0.1 million, respectively, potentially dilutive securities and their related income are not included in the diluted earnings per share calculations as they are not dilutive.