Earnings Per Common Share of MAA (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Common Share Of M A A [Abstract]

Schedule of Computation of Earnings Per Share

For the years ended December 31, 2023, 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):

Calculation of Earnings per common share - basic	2023			2022			2021
Net income	$	567,831		$	654,776		$	550,702
Net income attributable to noncontrolling interests		(15,025	)		(17,340	)		(16,911	)
Unvested restricted shares (allocation of earnings)		(224	)		(438	)		(539	)
Dividends to MAA Series I preferred shareholders		(3,688	)		(3,688	)		(3,688	)
Net income available for MAA common shareholders, adjusted	$	548,894		$	633,310		$	529,564
Weighted average common shares - basic		116,521			115,344			114,717
Earnings per common share - basic	$	4.71		$	5.49		$	4.62
Calculation of Earnings per common share - diluted
Net income	$	567,831		$	654,776		$	550,702
Net income attributable to noncontrolling interests (1)		(15,025	)		(17,340	)		(16,911	)
Dividends to MAA Series I preferred shareholders		(3,688	)		(3,688	)		(3,688	)
Net income available for MAA common shareholders, adjusted	$	549,118		$	633,748		$	530,103
Weighted average common shares - basic		116,521			115,344			114,717
Effect of dilutive securities		124			239			322
Weighted average common shares - diluted		116,645			115,583			115,039
Earnings per common share - diluted	$	4.71		$	5.48		$	4.61