Earnings per OP Unit of MAALP

Basic earnings per common unit is computed using the two-class method by dividing net income available for common unitholders by the weighted average number of OP Units outstanding during the period. All outstanding unvested restricted unit awards contain rights to non-forfeitable distributions 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 common unit. Diluted earnings per common unit reflects the potential dilution that could occur if securities or other contracts to issue OP Units were exercised or converted into OP Units. Both the unvested restricted unit awards and other potentially dilutive common units, and the related impact to earnings, are considered when calculating earnings per common unit on a diluted basis with diluted earnings per common unit being the more dilutive of the treasury stock or two-class methods. For the three months ended March 31, 2019 and 2018, MAA's diluted earnings per common unit was computed using the treasury stock method and the two-class method, respectively, as presented below (dollars and units in thousands, except per unit amounts):



	Three months ended March 31,
	2019			2018
Calculation of Earnings per Common Unit - basic
Net income	$	65,958		$	50,820
Unvested restricted stock (allocation of earnings)	(87		)	(79		)
Preferred unit distributions	(922		)	(922		)
Net income available for common unitholders, adjusted	$	64,949		$	49,819

Weighted average common units - basic	117,837			117,689
Earnings per common unit - basic	$	0.55		$	0.42

Calculation of Earnings per Common Unit - diluted
Net income	$	65,958		$	50,820
Unvested restricted stock (allocation of earnings)⁽¹⁾	—			(79		)
Preferred unit distributions	(922		)	(922		)
Net income available for common unitholders, adjusted	$	65,036		$	49,819

Weighted average common units - basic	117,837			117,689
Effect of dilutive securities ⁽¹⁾	207			—
Weighted average common units - diluted	118,044			117,689
Earnings per common unit - diluted	$	0.55		$	0.42

⁽¹⁾ For the three months ended March 31, 2018, 0.2 million potentially dilutive securities and their related income are not included in the diluted earnings per share calculation as they are not dilutive.