Earnings Per Common Share of MAA (Tables)

3 Months Ended

Mar. 31, 2023

Earnings Per Common Share Of M A A [Abstract]

Schedule of Computation of Earnings Per Share

For the three months ended March 31, 2023 and 2022, 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,
	2023			2022
Calculation of Earnings per common share - basic
Net income	$	139,574		$	113,577
Net income attributable to noncontrolling interests		(3,664	)		(2,775	)
Unvested restricted shares (allocation of earnings)		(60	)		(79	)
Dividends to MAA Series I preferred shareholders		(922	)		(922	)
Net income available for MAA common shareholders, adjusted	$	134,928		$	109,801
Weighted average common shares - basic		116,182			115,259
Earnings per common share - basic	$	1.16		$	0.95
Calculation of Earnings per common share - diluted
Net income	$	139,574		$	113,577
Net income attributable to noncontrolling interests (1)		(3,664	)		(2,775	)
Dividends to MAA Series I preferred shareholders		(922	)		(922	)
Net income available for MAA common shareholders, adjusted	$	134,988		$	109,880
Weighted average common shares - basic		116,182			115,259
Effect of dilutive securities		220			459
Weighted average common shares - diluted		116,402			115,718
Earnings per common share - diluted	$	1.16		$	0.95

(1)For the three months ended March 31, 2023 and 2022, 3.2 million OP Units and their related income are not included in the diluted earnings per share calculations as they are not dilutive.