Earnings Per Share

9 Months Ended

Sep. 30, 2015

Earnings Per Share

6. COMPANY EARNINGS PER SHARE

For the three and nine months ended September 30, 2015 and 2014, 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						Nine months ended
	September 30,						September 30,
	2015			2014			2015			2014
Net income available to common shareholders (numerator):
Net income	$	20,190		$	156,435		$	59,826		$	218,679
Noncontrolling interests - consolidated real estate entities		—			(22,416	)		—			(22,554	)
Noncontrolling interests - Operating Partnership		(43	)		(313	)		(126	)		(464	)
Preferred stock dividends		(922	)		(922	)		(2,766	)		(2,766	)
Unvested restricted stock (allocation of earnings)		(47	)		(314	)		(133	)		(435	)
Net income available to common shareholders, adjusted	$	19,178		$	132,470		$	56,801		$	192,460
Common shares (denominator):
Weighted average shares outstanding - basic		54,326			54,301			54,409			54,233
Dilutive shares from stock options		16			72			16			103
Weighted average shares outstanding - diluted		54,342			54,373			54,425			54,336
Per-share amount:
Basic	$	0.35		$	2.44		$	1.04		$	3.55
Diluted	$	0.35		$	2.44		$	1.04		$	3.54

Stock options to purchase 28 and 55 shares of common stock for the three months and 28 and 62 shares of common stock for the nine months ended September 30, 2015 and 2014, 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]

Earnings Per Share

7. OPERATING PARTNERSHIP EARNINGS PER UNIT

For the three and nine months ended September 30, 2015 and 2014, 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						Nine months ended
	September 30,						September 30,
	2015			2014			2015			2014
Net income available to common unitholders (numerator):
Net income	$	20,190		$	156,435		$	59,826		$	218,679
Noncontrolling interests - consolidated real estate entities		—			(22,416	)		—			(22,554	)
Preferred unit distributions		(922	)		(922	)		(2,766	)		(2,766	)
Unvested restricted stock (allocation of earnings)		(47	)		(314	)		(133	)		(435	)
Net income available to common unitholders, adjusted	$	19,221		$	132,783		$	56,927		$	192,924
Common units (denominator):
Weighted average units outstanding - basic		54,447			54,431			54,530			54,366
Dilutive units from stock options		16			72			16			103
Weighted average units outstanding - diluted		54,463			54,503			54,546			54,469
Per-unit amount:
Basic	$	0.35		$	2.44		$	1.04		$	3.55
Diluted	$	0.35		$	2.44		$	1.04		$	3.54

Stock options to purchase 28 and 55 shares of common stock for the three months and 28 and 62 shares of common stock for the nine months ended September 30, 2015 and 2014, respectively, were excluded from the computation of diluted income from continuing operations per common unit as these stock options were antidilutive.