COMPANY EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2014

COMPANY EARNINGS PER SHARE

6. COMPANY EARNINGS PER SHARE

For the three and nine months ended September 30, 2014 and 2013, a reconciliation of the numerator and denominator used in the computation of basic and diluted income from continuing operations per share was as follows:

	Three months ended September 30,						Nine months ended September 30,
	2014			2013			2014			2013
Income from continuing operations available to common shareholders (numerator):
Income from continuing operations	$	156,435		$	18,632		$	218,679		$	65,760
Noncontrolling interests - consolidated real estate entities		(22,416	)		(32	)		(22,554	)		(87	)
Noncontrolling interests - Operating Partnership		(313	)		(47	)		(464	)		(164	)
Preferred stock dividends		(922	)		(922	)		(2,766	)		(2,766	)
Unvested restricted stock (allocation of earnings)		(314	)		(39	)		(435	)		(136	)
Income from continuing operations available to common shareholders	$	132,470		$	17,592		$	192,460		$	62,607
Common shares (denominator):
Weighted average shares outstanding - basic		54,301			54,371			54,233			54,424
Dilutive shares from stock options		72			168			103			187
Weighted average shares outstanding - diluted		54,373			54,539			54,336			54,611
Per-share amount:
Basic	$	2.44		$	0.32		$	3.55		$	1.15
Diluted	$	2.44		$	0.32		$	3.54		$	1.15

Stock options to purchase 55 and 186 shares of common stock for the three months and 62 and 57 shares of common stock for the nine months ended September 30, 2014 and 2013, respectively, were excluded from the computation of diluted income from continuing operations 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 nine months ended September 30, 2014 and 2013, a reconciliation of the numerator and denominator used in the computation of basic and diluted income from continuing operations per unit was as follows:

	Three months ended September 30,						Nine months ended September 30,
	2014			2013			2014			2013
Income from continuing operations available to common unitholders (numerator):
Income from continuing operations	$	156,435		$	18,632		$	218,679		$	65,760
Noncontrolling interests - consolidated real estate entities		(22,416	)		(32	)		(22,554	)		(87	)
Preferred unit distributions		(922	)		(922	)		(2,766	)		(2,766	)
Unvested restricted stock (allocation of earnings)		(314	)		(39	)		(435	)		(136	)
Income from continuing operations available to common unitholders	$	132,783		$	17,639		$	192,924		$	62,771
Common units (denominator):
Weighted average units outstanding - basic		54,431			54,514			54,366			54,567
Dilutive units from stock options		72			168			103			187
Weighted average units outstanding - diluted		54,503			54,682			54,469			54,754
Per-unit amount:
Basic	$	2.44		$	0.32		$	3.55		$	1.15
Diluted	$	2.44		$	0.32		$	3.54		$	1.15

Stock options to purchase 55 and 186 shares of common stock for the three months ended and 62 and 57 shares of common stock for the nine months ended September 30, 2014 and 2013, respectively, were excluded from the computation of diluted income from continuing operations per common unit as these stock options were antidilutive.