Earnings Per Common Share of MAA (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Common Share Of M A A [Abstract]

Schedule of Computation of Diluted Earnings per Share

For the years ended December 31, 2021, 2020 and 2019, 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):

Calculation of Earnings per common share – basic	2021				2020				2019
Net income	$	550,702			$	264,015			$	366,618
Net income attributable to noncontrolling interests		(16,911	)			(9,053	)			(12,807	)
Unvested restricted stock (allocation of earnings)		(539	)			(338	)			(519	)
Preferred dividends		(3,688	)			(3,688	)			(3,688	)
Net income available for MAA common shareholders, adjusted	$	529,564			$	250,936			$	349,604
Weighted average common shares – basic		114,717				114,188				113,854
Earnings per common share – basic	$	4.62			$	2.20			$	3.07
Calculation of Earnings per common share – diluted
Net income	$	550,702			$	264,015			$	366,618
Net income attributable to noncontrolling interests		(16,911	)	(1)		(9,053	)	(1)		(12,807	)	(1)
Preferred dividends		(3,688	)			(3,688	)			(3,688	)
Net income available for MAA common shareholders, adjusted	$	530,103			$	251,274			$	350,123
Weighted average common shares – basic		114,717				114,188				113,854
Effect of dilutive securities		322				312				259
Weighted average common shares – diluted		115,039				114,500				114,113
Earnings per common share – diluted	$	4.61			$	2.19			$	3.07

(1)For the years ended December 31, 2021, 2020 and 2019, 3.7 million, 4.1 million and 4.1 million OP Units and their related income are not included in the diluted earnings per share calculations as they are not dilutive.