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Earnings Per Common Share of MAA
 12 Months Ended
Dec. 31, 2018
Earnings per share of the trust [Abstract]  
Earnings per share
Earnings per Common Share of MAA

Basic earnings per share is computed by dividing net income available to MAA common shareholders by the weighted average number of common shares outstanding during the period.  All outstanding unvested restricted share awards contain rights to non-forfeitable dividends and participate in undistributed earnings with 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 diluted earnings per share being the more dilutive of the treasury stock or two-class methods.  OP Units are included in dilutive earnings per share calculations when the units are dilutive to earnings per share. For the years ended December 31, 2018, 2017 and 2016, MAA's basic earnings per share was computed using the two-class method and MAA's diluted earnings per share was computed using the more dilutive of the treasury stock method or the two-class method as presented below (dollars and shares in thousands, except per share amounts):
 
2018
 
2017
 
2016
 
Calculation of Earnings per common share - basic
 

 
 

 
 

 
Net income
$
231,022

 
$
340,536

 
$
224,402

 
Net income attributable to noncontrolling interests
(8,123
)
 
(12,157
)
 
(12,180
)
 
Unvested restricted stock (allocation of earnings)
(291
)
 
(535
)
 
(572
)
 
Preferred dividends
(3,688
)
 
(3,688
)
 
(307
)
 
Net income available for common shareholders, adjusted
$
218,920

 
$
324,156

 
$
211,343

 
 
 
 
 
 
 
 
Weighted average common shares - basic
113,638

 
113,407

 
78,502

 
Earnings per common share - basic
$
1.93

 
$
2.86

 
$
2.69

 
Calculation of Earnings per common share - diluted
 

 
 

 
 

 
Net income
$
231,022

 
$
340,536

 
$
224,402

 
Net income attributable to noncontrolling interests
(8,123
)
(1) 
(12,157
)
(1) 
(12,180
)
(1) 
Preferred dividends
(3,688
)
 
(3,688
)
 
(307
)
 
Net income available for common shareholders, adjusted
$
219,211

 
$
324,691

 
$
211,915

 
 
 
 
 
 
 
 
Weighted average common shares - basic
113,638

 
113,407

 
78,502

 
Effect of dilutive securities
198

 
280

 
298

 
Weighted average common shares - diluted
113,836

 
113,687

 
78,800

 
Earnings per common share - diluted
$
1.93

 
$
2.86

 
$
2.69

 

(1) For the years ended December 31, 2018, 2017 and 2016, 4.1 million, 4.2 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.