Company Earnings Per Share

6 Months Ended

Jun. 30, 2013

Company Earnings Per Share

6. COMPANY EARNINGS PER SHARE

For the three and six months ended June 30, 2013 and 2012, a reconciliation of the numerator and denominator used in the computation of basic and diluted net income per share was as follows:

	Three months ended						Six months ended
	June 30,						June 30,
	2013			2012			2013			2012
Net income attributable to common shareholders (numerator):
Net income	$	27,614		$	21,170		$	48,004		$	43,035
Noncontrolling interests - consolidated real estate entities		(58	)		(35	)		(55	)		(41	)
Noncontrolling interests - Operating Partnership		(68	)		(56	)		(120	)		(115	)
Preferred stock dividends		(922	)		(922	)		(1,844	)		(1,844	)
Unvested restricted stock (allocation of earnings)		(61	)		(48	)		(99	)		(94	)
Net income available to common shareholders	$	26,505		$	20,109		$	45,886		$	40,941
Common shares (denominator):
Weighted average shares outstanding - basic		54,464			53,773			54,450			53,430
Dilutive shares from stock options		194			323			198			369
Weighted average shares outstanding - diluted		54,658			54,096			54,648			53,799
Per-share amount:
Basic	$	0.49		$	0.37		$	0.84		$	0.77
Diluted	$	0.48		$	0.37		$	0.84		$	0.76

Stock options to purchase 58 and 195 shares of common stock for the three and six months ended June 30, 2013 and 2012, respectively, were excluded from the computation of diluted earnings per common share as these stock options were antidilutive.

Post Apartment Homes, L.P. [Member]

Company Earnings Per Share

7. OPERATING PARTNERSHIP EARNINGS PER UNIT

For the three and six months ended June 30, 2013 and 2012, a reconciliation of the numerator and denominator used in the computation of basic and diluted net income per unit was as follows:

	Three months ended						Six months ended
	June 30,						June 30,
	2013			2012			2013			2012
Net income available to common unitholders (numerator):
Net income	$	27,614		$	21,170		$	48,004		$	43,035
Noncontrolling interests - consolidated real estate entities		(58	)		(35	)		(55	)		(41	)
Preferred unit distributions		(922	)		(922	)		(1,844	)		(1,844	)
Unvested restricted stock (allocation of earnings)		(61	)		(48	)		(99	)		(94	)
Net income available to common unitholders	$	26,573		$	20,165		$	46,006		$	41,056
Common units (denominator):
Weighted average units outstanding - basic		54,607			53,923			54,593			53,581
Dilutive units from stock options		194			323			198			369
Weighted average units outstanding - diluted		54,801			54,246			54,791			53,950
Per-unit amount:
Basic	$	0.49		$	0.37		$	0.84		$	0.77
Diluted	$	0.48		$	0.37		$	0.84		$	0.76

Stock options to purchase 58 and 195 shares of common stock for the three and six months ended June 30, 2013 and 2012, respectively, were excluded from the computation of diluted earnings per common unit as these stock options were antidilutive.