Earnings Per Common Share of MAA (Tables)

6 Months Ended

Jun. 30, 2020

Earnings Per Common Share Of M A A [Abstract]

Schedule of Computation of Diluted Earnings per Share

For the three and six months ended June 30, 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):

	Three months ended June 30,						Six months ended June 30,
	2020			2019			2020			2019
Calculation of Earnings per common share - basic
Net income	$	77,728		$	64,141		$	115,680		$	130,099
Net income attributable to noncontrolling interests		(2,666	)		(2,224	)		(3,970	)		(4,522	)
Unvested restricted stock (allocation of earnings)		(100	)		(96	)		(151	)		(184	)
Preferred dividends		(922	)		(922	)		(1,844	)		(1,844	)
Net income available for MAA common shareholders, adjusted	$	74,040		$	60,899		$	109,715		$	123,549

Weighted average common shares - basic		114,204			113,838			114,158			113,783
Earnings per common share - basic	$	0.65		$	0.53		$	0.96		$	1.09

Calculation of Earnings per common share - diluted
Net income	$	77,728		$	64,141		$	115,680		$	130,099
Net income attributable to noncontrolling interests ⁽¹⁾		(2,666	)		(2,224	)		(3,970	)		(4,522	)
Preferred dividends		(922	)		(922	)		(1,844	)		(1,844	)
Net income available for MAA common shareholders, adjusted	$	74,140		$	60,995		$	109,866		$	123,733

Weighted average common shares - basic		114,204			113,838			114,158			113,783
Effect of dilutive securities		234			249			324			211
Weighted average common shares - diluted		114,438			114,087			114,482			113,994
Earnings per common share - diluted	$	0.65		$	0.53		$	0.96		$	1.09

⁽¹⁾	^{For the three and six months ended June 30, 2020 and 2019, 4.1 million OP Units and their related income are not included in the diluted earnings per share calculations as they are not dilutive.}