Earnings Per Common Share of MAA (Tables)

12 Months Ended

Dec. 31, 2024

Earnings Per Common Share Of M A A [Abstract]

Schedule of Computation of Earnings Per Share

For the year ended December 31, 2024, MAA’s diluted earnings per share was computed using the two-class method, and for the years ended December 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):

Calculation of Earnings per common share - basic	2024			2023			2022
Net income	$	541,576		$	567,831		$	654,776
Net income attributable to noncontrolling interests		(14,033	)		(15,025	)		(17,340	)
Unvested restricted shares (allocation of earnings)		(75	)		(224	)		(438	)
Dividends to MAA Series I preferred shareholders		(3,688	)		(3,688	)		(3,688	)
Net income available for MAA common shareholders, adjusted	$	523,780		$	548,894		$	633,310
Weighted average common shares - basic		116,776			116,521			115,344
Earnings per common share - basic	$	4.49		$	4.71		$	5.49
Calculation of Earnings per common share - diluted
Net income	$	541,576		$	567,831		$	654,776
Net income attributable to noncontrolling interests (1)		(14,033	)		(15,025	)		(17,340	)
Unvested restricted shares (allocation of earnings)		(75	)		—			—
Dividends to MAA Series I preferred shareholders		(3,688	)		(3,688	)		(3,688	)
Net income available for MAA common shareholders, adjusted	$	523,780		$	549,118		$	633,748
Weighted average common shares - basic		116,776			116,521			115,344
Effect of dilutive securities		—			124			239
Weighted average common shares - diluted		116,776			116,645			115,583
Earnings per common share - diluted	$	4.49		$	4.71		$	5.48

(1)For the years ended December 31, 2024, 2023 and 2022, 3.1 million, 3.1 million and 3.2 million OP Units, respectively, and their related income are not included in the diluted earnings per share calculations as they are not dilutive.