Earnings Per Common Share of MAA (Tables)

9 Months Ended

Sep. 30, 2020

Earnings Per Common Share Of M A A [Abstract]

Schedule of Computation of Diluted Earnings per Share

For the three and nine months ended September 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 September 30,						Nine months ended September 30,
	2020			2019			2020			2019
Calculation of Earnings per common share - basic
Net income	$	62,036		$	81,459		$	177,716		$	211,558
Net income attributable to noncontrolling interests		(2,126	)		(2,814	)		(6,096	)		(7,336	)
Unvested restricted stock (allocation of earnings)		(78	)		(118	)		(229	)		(302	)
Preferred dividends		(922	)		(922	)		(2,766	)		(2,766	)
Net income available for MAA common shareholders, adjusted	$	58,910		$	77,605		$	168,625		$	201,154
Weighted average common shares - basic		114,216			113,877			114,177			113,814
Earnings per common share - basic	$	0.52		$	0.68		$	1.48		$	1.77
Calculation of Earnings per common share - diluted
Net income	$	62,036		$	81,459		$	177,716		$	211,558
Net income attributable to noncontrolling interests (1)		(2,126	)		(2,814	)		(6,096	)		(7,336	)
Preferred dividends		(922	)		(922	)		(2,766	)		(2,766	)
Net income available for MAA common shareholders, adjusted	$	58,988		$	77,723		$	168,854		$	201,456
Weighted average common shares - basic		114,216			113,877			114,177			113,814
Effect of dilutive securities		252			260			310			238
Weighted average common shares - diluted		114,468			114,137			114,487			114,052
Earnings per common share - diluted	$	0.52		$	0.68		$	1.47		$	1.77

^{(1) For the three and nine months ended September 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.}