Earnings Per Common Share of MAA (Tables)

3 Months Ended

Mar. 31, 2022

Earnings Per Common Share Of M A A [Abstract]

Schedule of Computation of Diluted Earnings per Share

For the three months ended March 31, 2022 and 2021, 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):

	Three months ended March 31,
	2022			2021
Calculation of Earnings per common share - basic
Net income	$	113,577		$	48,864
Net income attributable to noncontrolling interests		(2,775	)		(1,671	)
Unvested restricted stock (allocation of earnings)		(79	)		(54	)
Preferred dividends		(922	)		(922	)
Net income available for MAA common shareholders, adjusted	$	109,801		$	46,217
Weighted average common shares - basic		115,259			114,263
Earnings per common share - basic	$	0.95		$	0.40
Calculation of Earnings per common share - diluted
Net income	$	113,577		$	48,864
Net income attributable to noncontrolling interests (1)		(2,775	)		(1,671	)
Preferred dividends		(922	)		(922	)
Net income available for MAA common shareholders, adjusted	$	109,880		$	46,271
Weighted average common shares - basic		115,259			114,263
Effect of dilutive securities		459			312
Weighted average common shares - diluted		115,718			114,575
Earnings per common share - diluted	$	0.95		$	0.40

(1)For the three months ended March 31, 2022 and 2021, 3.2 million OP Units and 4.1 million OP Units, respectively, and their related income are not included in the diluted earnings per share calculations as they are not dilutive.