Post Apartment Homes 10-Q 6 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 31, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	PPS
Entity Registrant Name	POST PROPERTIES INC
Entity Central Index Key	903,127
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		54,601,361
Post Apartment Homes, L.P. [Member]
Document Information [Line Items]
Trading Symbol	PPS-A
Entity Registrant Name	POST APARTMENT HOMES LP
Entity Central Index Key	1,012,271
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Real estate assets
Land	$ 319,401	$ 317,077
Building and improvements	2,357,576	2,323,626
Furniture, fixtures and equipment	314,552	304,534
Construction in progress	109,292	86,971
Land held for future investment	29,795	33,197
Real estate assets, total	3,130,616	3,065,405
Less: accumulated depreciation	(979,505)	(937,310)
Assets held for sale, net of accumulated depreciation of $207 at December 31, 2014	0	672
Total real estate assets	2,151,111	2,128,767
Investments in and advances to unconsolidated real estate entities	3,957	4,059
Cash and cash equivalents	119,057	140,512
Restricted cash	3,885	3,572
Deferred financing costs, net	7,924	5,117
Other assets	28,098	29,771
Total assets	2,314,032	2,311,798
Liabilities, redeemable common units and equity
Indebtedness	891,004	892,459
Accounts payable, accrued expenses and other	78,039	70,616
Investments in unconsolidated real estate entities	16,437	16,624
Dividends and distributions payable	24,074	21,852
Accrued interest payable	4,003	4,229
Security deposits and prepaid rents	13,684	12,972
Total liabilities	1,027,241	1,018,752
Redeemable common units	$ 6,555	$ 7,086
Commitments and contingencies
Equity
Preferred stock, $.01 par value, 20,000 authorized: 8 1/2% Series A Cumulative Redeemable Shares, liquidation preference $50 per share, 868 shares issued and outstanding	$ 9	$ 9
Common stock, $.01 par value, 100,000 authorized: 54,632 and 54,632 shares issued and 54,592 and 54,509 shares outstanding at June 30, 2015 and December 31, 2014, respectively	546	546
Additional paid-in-capital	1,117,450	1,114,851
Accumulated earnings	176,979	185,001
Accumulated other comprehensive income (loss)	(4,468)	(3,675)
Stockholders Equity Subtotal Before Treasury Stock	1,290,516	1,296,732
Less common stock in treasury, at cost, 125 and 207 shares at June 30, 2015 and December 31, 2014, respectively	(10,280)	(10,772)
Total equity	1,280,236	1,285,960
Total liabilities and members' equity	2,314,032	2,311,798
Post Apartment Homes, L.P. [Member]
Real estate assets
Land	319,401	317,077
Building and improvements	2,357,576	2,323,626
Furniture, fixtures and equipment	314,552	304,534
Construction in progress	109,292	86,971
Land held for future investment	29,795	33,197
Real estate assets, total	3,130,616	3,065,405
Less: accumulated depreciation	(979,505)	(937,310)
Assets held for sale, net of accumulated depreciation of $207 at December 31, 2014	0	672
Total real estate assets	2,151,111	2,128,767
Investments in and advances to unconsolidated real estate entities	3,957	4,059
Cash and cash equivalents	119,057	140,512
Restricted cash	3,885	3,572
Deferred financing costs, net	7,924	5,117
Other assets	28,098	29,771
Total assets	2,314,032	2,311,798
Liabilities, redeemable common units and equity
Indebtedness	891,004	892,459
Accounts payable, accrued expenses and other	78,039	70,616
Investments in unconsolidated real estate entities	16,437	16,624
Dividends and distributions payable	24,074	21,852
Accrued interest payable	4,003	4,229
Security deposits and prepaid rents	13,684	12,972
Total liabilities	1,027,241	1,018,752
Redeemable common units	$ 6,555	$ 7,086
Commitments and contingencies
Equity
Preferred units	$ 43,392	$ 43,392
General partner	14,002	14,057
Limited partner	1,227,310	1,232,186
Accumulated other comprehensive income (loss)	(4,468)	(3,675)
Total equity	1,280,236	1,285,960
Total liabilities and members' equity	$ 2,314,032	$ 2,311,798

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Accumulated depreciation, assets held for sale	$ 979,505	$ 937,310
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, liquidation preference	$ 50	$ 50
Preferred stock, shares issued	868,000	868,000
Preferred stock, shares outstanding	868,000	868,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized	100,000,000	100,000,000
Common stock, shares issued	54,632,000	54,632,000
Common stock, shares outstanding	54,592,000	54,509,000
Common stock in treasury, shares	125,000	207,000
Assets Held-for-Sale [Member]
Accumulated depreciation, assets held for sale		$ 207
Post Apartment Homes, L.P. [Member]
Accumulated depreciation, assets held for sale	$ 979,505	937,310
Post Apartment Homes, L.P. [Member] | Assets Held-for-Sale [Member]
Accumulated depreciation, assets held for sale		$ 207

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues
Rental	$ 89,368	$ 89,414	$ 177,029	$ 177,442
Other property revenues	5,789	5,389	11,246	10,654
Other	274	223	587	442
Total revenues	95,431	95,026	188,862	188,538
Expenses
Property operating and maintenance (exclusive of items shown separately below)	41,512	41,795	81,635	82,391
Depreciation	21,418	20,829	42,675	42,596
General and administrative	4,353	3,966	9,367	8,094
Investment and development	275	794	510	1,605
Other investment costs	154	210	288	483
Other expenses	0	502	0	1,409
Total expenses	67,712	68,096	134,475	136,578
Operating income	27,719	26,930	54,387	51,960
Interest income	43	4	124	16
Interest expense	(7,753)	(10,433)	(15,846)	(21,677)
Amortization of deferred financing costs	(433)	(620)	(882)	(1,265)
Equity in income of unconsolidated real estate entities, net	568	501	965	986
Gains on sales of real estate assets, net	(298)	36,092	1,475	36,902
Other income (expense), net	(195)	(196)	(390)	(391)
Net loss on extinguishment of indebtedness	0	(4,287)	(197)	(4,287)
Net income	19,651	47,991	39,636	62,244
Noncontrolling interests - consolidated real estate entities	0	(154)	0	(138)
Noncontrolling interests - Operating Partnership	(41)	(118)	(83)	(151)
Net income	19,610	47,719	39,553	61,955
Distributions to preferred unitholders	(922)	(922)	(1,844)	(1,844)
Net income available to common shareholders	$ 18,688	$ 46,797	$ 37,709	$ 60,111
Per common share data - Basic
Net income available to common shareholders	$ 0.34	$ 0.86	$ 0.69	$ 1.11
Weighted average common shares outstanding - basic	54,455	54,223	54,452	54,199
Per common share data - Diluted
Net income available to common shareholders	$ 0.34	$ 0.86	$ 0.69	$ 1.10
Weighted average common shares outstanding - diluted	54,469	54,335	54,467	54,314
Post Apartment Homes, L.P. [Member]
Revenues
Rental	$ 89,368	$ 89,414	$ 177,029	$ 177,442
Other property revenues	5,789	5,389	11,246	10,654
Other	274	223	587	442
Total revenues	95,431	95,026	188,862	188,538
Expenses
Property operating and maintenance (exclusive of items shown separately below)	41,512	41,795	81,635	82,391
Depreciation	21,418	20,829	42,675	42,596
General and administrative	4,353	3,966	9,367	8,094
Investment and development	275	794	510	1,605
Other investment costs	154	210	288	483
Other expenses	0	502	0	1,409
Total expenses	67,712	68,096	134,475	136,578
Operating income	27,719	26,930	54,387	51,960
Interest income	43	4	124	16
Interest expense	(7,753)	(10,433)	(15,846)	(21,677)
Amortization of deferred financing costs	(433)	(620)	(882)	(1,265)
Equity in income of unconsolidated real estate entities, net	568	501	965	986
Gains on sales of real estate assets, net	(298)	36,092	1,475	36,902
Other income (expense), net	(195)	(196)	(390)	(391)
Net loss on extinguishment of indebtedness	0	(4,287)	(197)	(4,287)
Net income	19,651	47,991	39,636	62,244
Noncontrolling interests - consolidated real estate entities	0	(154)	0	(138)
Net income	19,651	47,837	39,636	62,106
Distributions to preferred unitholders	(922)	(922)	(1,844)	(1,844)
Net income available to common shareholders	$ 18,729	$ 46,915	$ 37,792	$ 60,262
Per common share data - Basic
Net income available to common shareholders	$ 0.34	$ 0.86	$ 0.69	$ 1.11
Weighted average common shares outstanding - basic	54,576	54,358	54,573	54,334
Per common share data - Diluted
Net income available to common shareholders	$ 0.34	$ 0.86	$ 0.69	$ 1.10
Weighted average common shares outstanding - diluted	54,590	54,470	54,588	54,449

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net income	$ 19,651	$ 47,991	$ 39,636	$ 62,244
Net change in derivative financial instruments	753	(1,507)	(795)	(1,487)
Total comprehensive income	20,404	46,484	38,841	60,757
Comprehensive income attributable to noncontrolling interests:
Consolidated real estate entities	0	(154)	0	(138)
Operating Partnership	(42)	(114)	(81)	(147)
Total Company comprehensive income	20,362	46,216	38,760	60,472
Post Apartment Homes, L.P. [Member]
Net income	19,651	47,991	39,636	62,244
Net change in derivative financial instruments	753	(1,507)	(795)	(1,487)
Total comprehensive income	20,404	46,484	38,841	60,757
Comprehensive income attributable to noncontrolling interests:
Consolidated real estate entities	0	(154)	0	(138)
Total Operating Partnership comprehensive income	$ 20,404	$ 46,330	$ 38,841	$ 60,619

Consolidated Statements of Equi

Consolidated Statements of Equity and Accumulated Earnings (Unaudited) - USD ($) $ in Thousands	Total	Post Apartment Homes, L.P. [Member]	Post Apartment Homes, L.P. [Member]General Partner [Member]	Post Apartment Homes, L.P. [Member]Limited Partner [Member]	Preferred Stock [Member]	Preferred Stock [Member]Post Apartment Homes, L.P. [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Other Comprehensive Income (Loss) [Member]Post Apartment Homes, L.P. [Member]	Treasury Stock [Member]	Total Company Equity [Member]	Total Company Equity [Member]Post Apartment Homes, L.P. [Member]	Noncontrolling Interests - Consolidated Real Estate Entities [Member]	Noncontrolling Interests - Consolidated Real Estate Entities [Member]Post Apartment Homes, L.P. [Member]
Beginning Balance at Dec. 31, 2013	$ 1,152,731	$ 1,152,731	$ 12,715	$ 1,100,259	$ 9	$ 43,392	$ 546	$ 1,111,861	$ 66,138	$ (3,419)	$ (3,419)	$ (22,188)	$ 1,152,947	$ 1,152,947	$ (216)	$ (216)
Comprehensive income	60,610	60,610	603	59,508		1,844			61,955	(1,483)	(1,483)		60,472	60,472	138	138
Employee stock purchase, stock option and other plan issuances	2,948	2,948	29	2,919				(55)	(2,649)			5,652	2,948	2,948
Adjustment for ownership interest of redeemable common units	(7)	(7)		(7)				(7)					(7)	(7)
Stock-based compensation	1,934	1,934	19	1,915				1,934					1,934	1,934
Dividends to preferred shareholders	(1,844)	(1,844)				(1,844)			(1,844)				(1,844)	(1,844)
Dividends to common shareholders ($0.84 and $0.76 per share for the year 2015 and 2014 respectively)	(41,313)	(41,313)	(414)	(40,899)					(41,313)				(41,313)	(41,313)
Distributions to noncontrolling interests - consolidated real estate entities	(68)	(68)													(68)	(68)
Adjustment to redemption value of redeemable common units	(1,057)	(1,057)		(1,057)					(1,057)				(1,057)	(1,057)
Ending Balance at Jun. 30, 2014	1,173,934	1,173,934	12,952	1,122,638	9	43,392	546	1,113,733	81,230	(4,902)	(4,902)	(16,536)	1,174,080	1,174,080	$ (146)	$ (146)
Beginning Balance at Dec. 31, 2014	1,285,960	1,285,960	14,057	1,232,186	9	43,392	546	1,114,851	185,001	(3,675)	(3,675)	(10,772)	1,285,960	1,285,960
Comprehensive income	38,760	38,760	378	37,331		1,844			39,553	(793)	(793)		38,760	38,760
Employee stock purchase, stock option and other plan issuances	76	76	1	75				(26)	(390)			492	76	76
Stock-based compensation	2,625	2,625	26	2,599				2,625					2,625	2,625
Dividends to preferred shareholders	(1,844)	(1,844)				(1,844)			(1,844)				(1,844)	(1,844)
Dividends to common shareholders ($0.84 and $0.76 per share for the year 2015 and 2014 respectively)	(45,858)	(45,858)	(460)	(45,398)					(45,858)				(45,858)	(45,858)
Adjustment to redemption value of redeemable common units	517	517		517					517				517	517
Ending Balance at Jun. 30, 2015	$ 1,280,236	$ 1,280,236	$ 14,002	$ 1,227,310	$ 9	$ 43,392	$ 546	$ 1,117,450	$ 176,979	$ (4,468)	$ (4,468)	$ (10,280)	$ 1,280,236	$ 1,280,236

Consolidated Statements of Equ7

Consolidated Statements of Equity and Accumulated Earnings (Unaudited) (Parenthetical) - $ / shares	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Dividends to common shareholders	$ 0.84	$ 0.76
Post Apartment Homes, L.P. [Member]
Dividends to common shareholders	$ 0.84	$ 0.76

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash Flows From Operating Activities
Net income	$ 39,636	$ 62,244
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	42,675	42,596
Amortization of deferred financing costs	882	1,265
Net gains on sales of real estate assets	(1,475)	(36,902)
Other, net	495	205
Equity in income of unconsolidated entities, net	(965)	(986)
Distributions of earnings of unconsolidated entities	1,055	1,082
Stock-based compensation	2,631	1,939
Net loss on extinguishment of indebtedness	197	4,287
Changes in assets, decrease (increase) in:
Other assets	(1,073)	(1,472)
Changes in liabilities, increase (decrease) in:
Accrued interest payable	(226)	(588)
Accounts payable and accrued expenses	3,489	5,866
Prepaid rents and other	554	(1,814)
Net cash provided by operating activities	87,875	77,722
Cash Flows From Investing Activities
Development and construction of real estate assets	(46,326)	(34,440)
Proceeds from sales of real estate assets	4,529	73,264
Capitalized interest	(2,219)	(1,601)
Property capital expenditures	(12,309)	(14,272)
Corporate additions and improvements	(542)	(1,687)
Investments in unconsolidated entities	(220)	0
Other investing activities	(313)	(458)
Net cash provided by (used in) investing activities	(57,400)	20,806
Cash Flows From Financing Activities
Lines of credit proceeds	0	80,213
Lines of credit repayments	0	(80,213)
Payments on indebtedness	(1,455)	(121,974)
Payments of financing costs and other	(4,008)	(4,291)
Proceeds from employee stock purchase and stock options plans	345	2,278
Acquisition of treasury stock and other	(1,389)	0
Distributions to noncontrolling interests-real estate entities	0	(68)
Distributions to noncontrolling interests-common unitholders	(96)	(93)
Dividends paid to preferred shareholders	(1,844)	(1,844)
Dividends paid to common shareholders	(43,641)	(37,445)
Other financing activities	158	0
Net cash used in financing activities	(51,930)	(163,437)
Net decrease in cash and cash equivalents	(21,455)	(64,909)
Cash and cash equivalents, beginning of period	140,512	82,110
Cash and cash equivalents, end of period	119,057	17,201
Post Apartment Homes, L.P. [Member]
Cash Flows From Operating Activities
Net income	39,636	62,244
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	42,675	42,596
Amortization of deferred financing costs	882	1,265
Net gains on sales of real estate assets	(1,475)	(36,902)
Other, net	495	205
Equity in income of unconsolidated entities, net	(965)	(986)
Distributions of earnings of unconsolidated entities	1,055	1,082
Stock-based compensation	2,631	1,939
Net loss on extinguishment of indebtedness	197	4,287
Changes in assets, decrease (increase) in:
Other assets	(1,073)	(1,472)
Changes in liabilities, increase (decrease) in:
Accrued interest payable	(226)	(588)
Accounts payable and accrued expenses	3,489	5,866
Prepaid rents and other	554	(1,814)
Net cash provided by operating activities	87,875	77,722
Cash Flows From Investing Activities
Development and construction of real estate assets	(46,326)	(34,440)
Proceeds from sales of real estate assets	4,529	73,264
Capitalized interest	(2,219)	(1,601)
Property capital expenditures	(12,309)	(14,272)
Corporate additions and improvements	(542)	(1,687)
Investments in unconsolidated entities	(220)	0
Other investing activities	(313)	(458)
Net cash provided by (used in) investing activities	(57,400)	20,806
Cash Flows From Financing Activities
Lines of credit proceeds	0	80,213
Lines of credit repayments	0	(80,213)
Payments on indebtedness	(1,455)	(121,974)
Payments of financing costs and other	(4,008)	(4,291)
Proceeds from employee stock purchase and stock options plans	345	2,278
Acquisition of treasury stock and other	(1,389)	0
Distributions to noncontrolling interests-real estate entities	0	(68)
Distributions to noncontrolling interests-common unitholders	(96)	(93)
Dividends paid to preferred shareholders	(1,844)	(1,844)
Dividends paid to common shareholders	(43,641)	(37,445)
Other financing activities	158	0
Net cash used in financing activities	(51,930)	(163,437)
Net decrease in cash and cash equivalents	(21,455)	(64,909)
Cash and cash equivalents, beginning of period	140,512	82,110
Cash and cash equivalents, end of period	$ 119,057	$ 17,201

Organization and Significant Ac

Organization and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Organization and Significant Accounting Policies	1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES Organization Post Properties, Inc. (the “Company”) and its subsidiaries develop, own and manage upscale multi-family apartment communities in selected markets in the United States. The Company through its wholly-owned subsidiaries is the sole general partner, a limited partner and owns a majority interest in Post Apartment Homes, L.P. (the “Operating Partnership”), a Georgia limited partnership. The Operating Partnership, through its operating divisions and subsidiaries conducts substantially all of the on-going operations of the Company, a publicly traded corporation which operates as a self-administered and self-managed real estate investment trust (“REIT”). As used herein, the term “Company” includes Post Properties, Inc. and its subsidiaries, including Post Apartment Homes, L.P., unless the context indicates otherwise. The Company has elected to qualify and operate as a self-administrated and self-managed REIT for federal income tax purposes. A REIT is a legal entity which holds real estate interests and is generally not subject to federal income tax on the income it distributes to its shareholders. The Operating Partnership is governed under the provisions of a limited partnership agreement, as amended. Under the provisions of the limited partnership agreement, as amended, Operating Partnership net profits, net losses and cash flow (after allocations to preferred ownership interests) are allocated to the partners in proportion to their common ownership interests. Cash distributions from the Operating Partnership shall be, at a minimum, sufficient to enable the Company to satisfy its annual dividend requirements to maintain its REIT status under the Internal Revenue Code of 1986, as amended. At June 30, 2015, the Company had interests in 23,365 apartment units in 59 communities, including 1,471 apartment units in four communities held in unconsolidated entities and 1,834 apartment units in five communities currently under development. At June 30, 2015, approximately 29.1%, 21.9%, 13.5% and 10.9% (on a unit basis) of the Company’s operating communities were located in the Atlanta, Georgia, Dallas, Texas, the greater Washington, D.C. and Tampa, Florida metropolitan areas, respectively. At June 30, 2015, the Company had outstanding 54,592 shares of common stock and owned the same number of units of common limited partnership interests (“Common Units”) in the Operating Partnership, representing a 99.8% ownership interest in the Operating Partnership. Common Units held by persons other than the Company totaled 121 at June 30, 2015 and represented a 0.2% common noncontrolling interest in the Operating Partnership. Each Common Unit may be redeemed by the holder thereof for either one share of Company common stock or cash equal to the fair market value thereof at the time of redemption, at the option, but outside the control, of the Operating Partnership. The Operating Partnership presently anticipates that it will cause shares of common stock to be issued in connection with each such redemption rather than paying cash (as has been done in all redemptions to date). With each redemption of outstanding Common Units for Company common stock, the Company’s percentage ownership interest in the Operating Partnership will increase. In addition, whenever the Company issues shares of common stock, the Company will contribute any net proceeds therefrom to the Operating Partnership and the Operating Partnership will issue an equivalent number of Common Units to the Company. The Company’s weighted average common ownership interest in the Operating Partnership was 99.8% for three and six month ended June 30, 2015 and 2014. Basis of presentation The accompanying unaudited financial statements have been prepared by the Company’s management in accordance with generally accepted accounting principles for interim financial information and applicable rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all of the information and disclosures required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting only of normally recurring adjustments) considered necessary for a fair presentation have been included. The results of operations for the three and six months ended June 30, 2015 are not necessarily indicative of the results that may be expected for the full year. These financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in its Annual Report on Form 10-K for the year ended December 31, 2014. The accompanying consolidated financial statements include the consolidated accounts of the Company, the Operating Partnership and their wholly owned subsidiaries. The Company also consolidates other entities in which it has a controlling financial interest or entities where it is determined to be the primary beneficiary under ASC Topic 810, “Consolidation.” Under ASC Topic 810, variable interest entities (“VIEs”) are generally entities that lack sufficient equity to finance their activities without additional financial support from other parties or whose equity holders lack adequate decision making ability. The primary beneficiary is required to consolidate a VIE for financial reporting purposes. The application of ASC Topic 810 requires management to make significant estimates and judgments about the Company’s and its other partners’ rights, obligations and economic interests in such entities. For entities in which the Company has less than a controlling financial interest or entities where it is not deemed to be the primary beneficiary, the entities are accounted for using the equity method of accounting. Accordingly, the Company’s share of the net earnings or losses of these entities is included in consolidated net income. All inter-company accounts and transactions have been eliminated in consolidation. The Company’s noncontrolling interest of common unitholders (also referred to as “Redeemable Common Units”) in the operations of the Operating Partnership is calculated based on the weighted average unit ownership during the period. Revenue recognition Residential properties are leased under operating leases with terms of generally one year or less. Rental revenues from residential leases are recognized on the straight-line method over the approximate life of the leases, which is generally one year. The recognition of rental revenues from residential leases when earned has historically not been materially different from rental revenues recognized on a straight-line basis. Under the terms of residential leases, the residents of the Company’s residential communities are obligated to reimburse the Company for certain utility usage, water and electricity (at selected properties), where the Company is the primary obligor to the public utility entity. These utility reimbursements from residents are reflected as other property revenues in the consolidated statements of operations. Cost capitalization For communities under development or construction, the Company capitalizes interest, real estate taxes, and certain internal personnel and associated costs related to the development and construction activity. Interest is capitalized to projects under development or construction based upon the weighted average cumulative project costs for each month multiplied by the Company’s weighted average borrowing costs, expressed as a percentage. Weighted average borrowing costs include the costs of the Company’s fixed rate secured and unsecured borrowings and the variable rate unsecured borrowings under its line of credit facilities. The weighted average borrowing costs, expressed as a percentage, were 4.3% and 4.6% for the six months ended June 30, 2015 and 2014, respectively. Aggregate interest costs capitalized to projects under development or construction were $1,237 and $755 for the three months and $2,219 and $1,601 for the six months ended June 30, 2015 and 2014, respectively. Internal development and construction personnel and associated costs are capitalized to projects under development or construction based upon the effort associated with such projects. Aggregate internal development and construction personnel and associated costs capitalized to projects under development or construction were $1,213 and $512 for the three months and $2,348 and $1,001 for the six months ended June 30, 2015 and 2014, respectively. The Company treats each unit in an apartment community separately for cost accumulation, capitalization and expense recognition purposes. Prior to the completion of rental units, interest and other construction costs are capitalized and reflected on the balance sheet as construction in progress. The Company ceases the capitalization of such costs as the residential units in a community become substantially complete and available for occupancy or sale. This results in a proration of costs between amounts that are capitalized and expensed as the residential units in apartment development communities become available for occupancy. In addition, prior to the completion of rental units, the Company expenses as incurred substantially all operating expenses (including pre-opening marketing as well as property management and leasing personnel expenses) of such rental communities. Real estate assets, depreciation and impairment Real estate assets are stated at the lower of depreciated cost or fair value, if deemed impaired. Major replacements and betterments are capitalized and depreciated over their estimated useful lives. Depreciation is computed on a straight-line basis over the useful lives of the properties (buildings and components—40 years; other building and land improvements—20 years; furniture, fixtures and equipment – 5-10 years). The Company continually evaluates the recoverability of the carrying value of its real estate assets using the methodology prescribed in ASC Topic 360, “Property, Plant and Equipment.” Factors considered by management in evaluating impairment of its existing real estate assets held for investment include significant declines in property operating profits, annually recurring property operating losses and other significant adverse changes in general market conditions that are considered permanent in nature. Under ASC Topic 360, a real estate asset held for investment is not considered impaired if the undiscounted, estimated future cash flows of an asset (both the annual estimated cash flow from future operations and the estimated cash flow from the theoretical sale of the asset) over its estimated holding period are in excess of the asset’s net book value at the balance sheet date. If any real estate asset held for investment is considered impaired, a loss is provided to reduce the carrying value of the asset to its estimated fair value. The Company periodically classifies real estate assets as held for sale. An asset is classified as held for sale after the approval of the Company’s board of directors and after an active program to sell the asset has commenced. Upon the classification of a real estate asset as held for sale, the carrying value of the asset is reduced to the lower of its net book value or its estimated fair value, less costs to sell the asset. Subsequent to the classification of assets as held for sale, no further depreciation expense is recorded. Real estate assets held for sale are stated separately on the accompanying consolidated balance sheets. Upon a decision to no longer market an asset for sale, the asset is classified as an operating asset and depreciation expense is reinstated. Derivative financial instruments The Company accounts for derivative financial instruments at fair value under the provisions of ASC Topic 815, “Derivatives and Hedging.” The Company measures derivative financial instruments subject to master netting agreements on a net basis. The Company uses derivative financial instruments, primarily interest rate swap arrangements to manage or hedge its exposure to interest rate changes. Under ASC Topic 815, derivative instruments qualifying as hedges of specific cash flows are recorded on the balance sheet at fair value with an offsetting increase or decrease to accumulated other comprehensive income, an equity account, until the hedged transactions are recognized in earnings. Quarterly, the Company evaluates the effectiveness of its cash flow hedges. Any ineffective portion of cash flow hedges is recognized immediately in earnings. Fair value measurements The Company applies the guidance in ASC Topic 820, “Fair Value Measurements and Disclosures,” to the valuation of real estate assets recorded at fair value, if any, to its impairment valuation analysis of real estate assets, to its disclosure of the fair value of financial instruments, principally indebtedness and to its derivative financial instruments. Fair value disclosures required under ASC Topic 820 are summarized in note 8 utilizing the following hierarchy: • Level 1 – Quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date. • Level 2 – Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. • Level 3 – Unobservable inputs for the assets or liability. Recently issued accounting pronouncements In May 2014, Accounting Standards Update No. 2014-09 (“ASU 2014-09”), “Revenue from Contracts with Customers,” was issued. This new guidance establishes a single comprehensive revenue recognition model under U.S. GAAP and provides for enhanced disclosures. Under this new guidance, the amount of revenue recognized for certain transactions could differ from amounts recognized under existing accounting guidance and could also result in recognition in different reporting periods. Also, the provisions of ASU 2014-09 exclude revenue recognition regarding lease contracts. In July 2015, ASU 2014-09 was amended to defer the effective date by one year. The new guidance is effective for annual reporting periods beginning after December 15, 2017; however, early adoption is permitted for annual reporting periods beginning after December 15, 2016. The Company expects to adopt ASU 2014-09 as of January 1, 2018 and is currently evaluating the impact that this new guidance may have on its results of operations. In February 2015, Accounting Standards Update No. 2015-02 (“ASU 2015-02”), “Consolidation,” was issued. The new guidance primarily amends current consolidation accounting guidance with respect to the evaluation criteria for determining whether certain limited partnerships or similar legal entities and certain variable interest entities are subject to consolidated reporting. The new guidance is effective for reporting periods beginning after December 15, 2015. The Company expects to adopt ASU 2015-02 as of January 1, 2016 and is currently evaluating the impact this new standard may have on its financial position and results of operations. In April 2015, Accounting Standards Update No. 2015-03 (“ASU 2015-03”), “Interest-Imputation of Interest”, was issued. The new guidance requires debt issuance costs to be reported as direct deductions from the face value of the related debt instrument in the preparation of consolidated balance sheets. Currently, such debt issuance costs are reported as deferred assets on the consolidated balance sheet. Further, the amortization of debt issuance costs will be reported as interest expense in the consolidated statement of operations, under ASU 2015-03. Currently, amortization expense of debt issuance costs is reported as a separate line item in the consolidated statement of operations. The new guidance is effective for reporting periods beginning after December 31, 2015. The Company expects to adopt ASU 2015-03 as of January 1, 2016. Supplemental cash flow information Supplemental cash flow information for the six months ended June 30, 2015 and 2014 is as follows: Six months ended June 30, 2015 2014 Interest paid, net of interest capitalized $ 16,072 $ 22,265 Interest paid, including interest capitalized 18,291 23,866 Income tax payments, net 1,124 1,039 Non-cash investing and financing activities: Dividends and distributions payable 24,074 21,805 Construction and property capital expenditure cost accruals, increase (decrease) 4,497 (2,350 ) Adjustments to equity related to redeemable common units and other, net increase (decrease) 517 (1,064 ) Common stock 401k matching contribution — 658

Real Estate Activity

Real Estate Activity	6 Months Ended
	Jun. 30, 2015
Real Estate [Abstract]
Real Estate Activity	2. REAL ESTATE ACTIVITY Dispositions The Company classifies real estate assets as held for sale after the approval of its board of directors and after the Company had commenced an active program to sell the assets. The Company had no assets classified as held for sale at June 30, 2015. In the first quarter of 2014, the Company classified three apartment communities, containing 645 units, as held for sale, including two communities, containing 337 units, in New York, New York and an additional community, containing 308 units, in Houston, Texas. In May 2014, the apartment community located in Houston, Texas was sold for gross proceeds of approximately $71,750. The Company recognized a gain of $36,092 on the sale of this community. This disposition activity was part of the Company’s investment strategy of recycling investment capital to fund investment and development of apartment communities. The Company determined that these communities did not meet the criteria for discontinued operations reporting and, accordingly, their operating results were included in continuing operations through their sale dates in 2014. The two communities located in New York, New York were sold, and the Company recognized gains on sales, in the third quarter of 2014. The net income and net income attributable to the Company, including gains on sales of real estate assets related to these three communities, for the three and six months ended June 30, 2014 were as follows: Three months ended Six months ended June 30, 2014 June 30, 2014 Net income $ 37,356 $ 37,493 Net income, net of noncontrolling interest $ 37,202 $ 37,355 For the six months ended June 30, 2015, the Company recognized a gain of $1,773 on the sale of its remaining condominium retail space at its former condominium community in Austin, Texas. In 2015, gains on sales of real estate assets included state tax expense of $298 related to an asset sale. For the six months ended June 30, 2014, gains on condominium sales activities were $810, resulting from the sale of the final residential condominium unit at a former condominium community in Atlanta, Georgia.

Investments in Unconsolidated R

Investments in Unconsolidated Real Estate Entities	6 Months Ended
	Jun. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Real Estate Entities	3. INVESTMENTS IN UNCONSOLIDATED REAL ESTATE ENTITIES At June 30, 2015, the Company held investments in two individual limited liability companies (the “Apartment LLCs”) with institutional investors that own four apartment communities, including three communities located in Atlanta, Georgia and one community located in Washington, D.C. The Company has a 25% and 35% equity interest in these Apartment LLCs. The Company accounts for its investments in the Apartment LLCs using the equity method of accounting. At June 30, 2015 and December 31, 2014, the Company’s investment in the 35% owned Apartment LLC totaled $3,957 and $4,059, respectively, excluding the credit investments discussed below. The Company’s investment in the 25% owned Apartment LLC at June 30, 2015 and December 31, 2014 reflects a credit investment of $16,437 and $16,624, respectively. These credit balances resulted from distribution of financing proceeds in excess of the Company’s historical cost upon the formation of the Apartment LLC and are reflected in consolidated liabilities on the Company’s consolidated balance sheet. The operating results of the Company include its allocable share of net income from the investments in the Apartment LLCs. The Company provides property and asset management services to the Apartment LLCs for which it earns fees. A summary of financial information for the Apartment LLCs in the aggregate is as follows: June 30, December 31, Apartment LLCs—Balance Sheet Data 2015 2014 Real estate assets, net of accumulated depreciation of $52,012 and $49,153 at June 30, 2015 and December 31, 2014, respectively $ 207,785 $ 208,493 Cash and other 7,261 5,490 Total assets $ 215,046 $ 213,983 Mortgage notes payable $ 177,723 $ 177,723 Other liabilities 4,721 3,445 Total liabilities 182,444 181,168 Members’ equity 32,602 32,815 Total liabilities and members’ equity $ 215,046 $ 213,983 Company’s equity investment in Apartment LLCs (1) $ (12,480 ) $ (12,565 ) 1) At June 30, 2015 and December 31, 2014, the Company’s equity investment includes its credit investments of $16,437 and $16,624, respectively, discussed above. Three months ended Six months ended June 30, June 30, Apartment LLCs—Income Statement Data 2015 2014 2015 2014 Revenues Rental $ 6,856 $ 6,635 $ 13,640 $ 13,120 Other property revenues 538 489 993 928 Total revenues 7,394 7,124 14,633 14,048 Expenses Property operating and maintenance 3,049 2,830 6,156 5,581 Depreciation and amortization 1,464 1,387 2,912 2,763 Interest 2,258 2,258 4,496 4,496 Total expenses 6,771 6,475 13,564 12,840 Net income $ 623 $ 649 $ 1,069 $ 1,208 Company’s share of net income in Apartment LLCs $ 568 $ 501 $ 965 $ 986 At June 30, 2015, mortgage notes payable included four mortgage notes. The first $51,000 mortgage note bears interest at 3.50%, requires monthly interest only payments and matures in 2019. The second and third mortgage notes total $85,724, bear interest at 5.63%, require interest only payments and mature in 2017. The fourth mortgage note totals $41,000, bears interest at 5.71%, requires interest only payments, and matures in January 2018 with a one-year automatic extension at a variable interest rate.

Indebtedness

Indebtedness	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Indebtedness	4. INDEBTEDNESS At June 30, 2015 and December 31, 2014, the Company’s indebtedness consisted of the following: Payment Maturity June 30, December 31, Description Terms Interest Rate Date 2015 2014 Senior Unsecured Notes Int. 3.375% - 4.75% 2017 - 2022(1) $ 400,000 $ 400,000 Unsecured Bank Term Loan Int. LIBOR + 1.15%(2) 2020 300,000 300,000 Secured Mortgage Notes Prin. and Int. 5.99% 2019 191,004 192,459 Total $ 891,004 $ 892,459 1) The outstanding unsecured notes mature in 2017 and 2022. 2) Represents stated rate at June 30, 2015. As discussed below, the Company has entered into interest rate swap arrangements that effectively fix the interest rate under this facility through January 2018. At June 30, 2015, the effective blended interest rate under the Amended Term Loan was 2.69%. Debt maturities The aggregate maturities of the Company’s indebtedness are as follows: Remainder of 2015 $ 1,467 2016 3,071 2017 153,296 2018 3,502 2019 179,668 Thereafter 550,000 $ 891,004 Debt issuances and retirements There were no issuances or retirements of indebtedness for the three or six months ended June 30, 2015. In May 2014, the Company prepaid $120,000 of secured mortgage indebtedness. In conjunction with the prepayment, the Company recognized an extinguishment loss of $4,287 for the three and six months ended June 30, 2014 related to prepayment premiums and the write-off of unamortized deferred loan costs. Unsecured lines of credit At June 30, 2015, the Company had a $300,000 syndicated unsecured revolving line of credit (the “Syndicated Line”) that was amended in January 2015. At June 30, 2015, the Syndicated Line had a stated interest rate of LIBOR plus 1.05%, was provided by a syndicate of nine financial institutions and required the payment of annual facility fees of 0.20% of the aggregate loan commitments. The Syndicated Line matures in 2019 and may be extended for an additional year at the Company’s option, subject to the satisfaction of certain conditions. The Syndicated Line provides for the interest rate and facility fee rate to be adjusted up or down based on changes in the credit ratings on the Company’s senior unsecured debt. The components of the interest rate and the facility fee rate that are based on the Company’s credit ratings range from 0.875% to 1.55% and from 0.125% to 0.30%, respectively. The Syndicated Line also includes a competitive bid option for borrowings up to 50% of the loan commitments, which may result in interest rates for such borrowings below the stated interest rates for the Syndicated Line, depending on market conditions. The credit agreement for the Syndicated Line contains customary restrictions, representations, covenants and events of default, including minimum fixed charge coverage, minimum unsecured interest coverage, and maximum leverage ratios. The Syndicated Line also restricts the amount of capital the Company can invest in specific categories of assets, such as improved land, properties under construction, non-multifamily properties, debt or equity securities, notes receivable and unconsolidated affiliates. At June 30, 2015, letters of credit to third parties totaling $122 had been issued for the account of the Company under this facility. Additionally, at June 30, 2015, the Company had a $30,000 unsecured line of credit (the “Cash Management Line”) that was also amended in January 2015. The Cash Management Line matures in 2019, includes a one-year extension option, and carries pricing and terms, including financial covenants, substantially consistent with the Syndicated Line discussed above. In connection with the refinancing of the Syndicated Line, the Cash Management Line and the Term Loan (discussed below), the Company incurred fees and expenses of $4,008 and recognized an extinguishment loss of $197 related to the write-off of a portion of unamortized deferred loan costs for the six months ended June 30, 2015. Unsecured term loan At June 30, 2015, the Company had outstanding a $300,000 unsecured bank term loan facility (“Term Loan”) that was amended in January 2015. The Term Loan carries a stated interest rate of LIBOR plus 1.15%, was provided by a syndicate of eight financial institutions and matures in 2020. The Term Loan provides for the stated interest rate to be adjusted up or down based on changes in the credit ratings on the Company’s senior unsecured debt. The component of the interest rate based on the Company’s credit ratings ranges from 0.90% to 1.85%. The Term Loan carries other terms, including financial covenants, substantially consistent with the Syndicated Line discussed above. As discussed in note 8, the Company entered into interest rate swap arrangements to serve as cash flow hedges of amounts outstanding under the Term Loan. The interest rate swap arrangements effectively fix the LIBOR component of the interest rate paid under the Term Loan at a blended rate of approximately 1.54%. As a result, the effective blended interest rate on the Term Loan is 2.69% (subject to adjustment based on subsequent changes in the Company’s credit ratings) through January 2018, the termination date of the interest rate swaps. Debt compliance and other The Company’s Syndicated Line, Cash Management Line, Term Loan and senior unsecured notes contain customary restrictions, representations, covenants and events of default and require the Company to meet certain financial covenants. Debt service and fixed charge coverage covenants require the Company to maintain coverages of a minimum of 1.5 to 1.0, as defined in applicable debt arrangements. Additionally, the Company’s ratio of unencumbered adjusted property-level net operating income to unsecured interest expense may not be less than 2.0 to 1.0, as defined in the applicable debt arrangements. Leverage covenants generally require the Company to maintain calculated covenants above/below minimum/maximum thresholds. The primary leverage ratios under these arrangements include total debt to total asset value (maximum of 60%), total secured debt to total asset value (maximum of 40%) and unencumbered assets to unsecured debt (minimum of 1.5 to 1.0), as defined in the applicable debt arrangements. The Company believes it met these financial covenants at June 30, 2015.

Equity and Noncontrolling Inter

Equity and Noncontrolling Interests	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Equity and Noncontrolling Interests	5. EQUITY AND NONCONTROLLING INTERESTS Common stock In December 2014, the Company’s board of directors adopted a stock and unsecured note repurchase program under which the Company and the Operating Partnership may repurchase up to $200,000 of common and preferred stock and unsecured notes through December 2017. There were no shares of common stock repurchased in the three or six months ended June 30, 2015 or in 2014 under this program or a previous stock repurchase program. Noncontrolling interests In accordance with ASC Topic 810, the Company and the Operating Partnership determined that the noncontrolling interests related to the common units of the Operating Partnership, held by persons other than the Company, met the criterion to be classified and accounted for as “temporary” equity (reflected outside of total equity as “Redeemable Common Units”). At June 30, 2015, and December 31, 2014, the aggregate redemption value of the noncontrolling interests in the Operating Partnership was $6,555 and $7,086, respectively, representing their fair value at the respective dates. In prior periods, the Company had noncontrolling interests in consolidated real estate entities that met the criterion to be classified and accounted for as a component of permanent equity. A roll-forward of activity relating to the Company’s Redeemable Common Units for the six months ended June 30, 2015 and 2014 was as follows: Six months ended June 30, 2015 2014 Redeemable common units, beginning of period $ 7,086 $ 6,121 Comprehensive income 81 147 Adjustment for ownership interest of redeemable common units — 7 Stock-based compensation 6 5 Distributions to common unitholders (101 ) (102 ) Adjustment to redemption value of redeemable common units (517 ) 1,057 Redeemable common units, end of period $ 6,555 $ 7,235

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share	6. COMPANY EARNINGS PER SHARE For the three and six months ended June 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 Six months ended June 30, June 30, 2015 2014 2015 2014 Net income available to common shareholders (numerator): Net income $ 19,651 $ 47,991 $ 39,636 $ 62,244 Noncontrolling interests - consolidated real estate entities — (154 ) — (138 ) Noncontrolling interests - Operating Partnership (41 ) (118 ) (83 ) (151 ) Preferred stock dividends (922 ) (922 ) (1,844 ) (1,844 ) Unvested restricted stock (allocation of earnings) (46 ) (110 ) (86 ) (132 ) Net income available to common shareholders, adjusted $ 18,642 $ 46,687 $ 37,623 $ 59,979 Common shares (denominator): Weighted average shares outstanding - basic 54,455 54,223 54,452 54,199 Dilutive shares from stock options 14 112 15 115 Weighted average shares outstanding - diluted 54,469 54,335 54,467 54,314 Per-share amount: Basic $ 0.34 $ 0.86 $ 0.69 $ 1.11 Diluted $ 0.34 $ 0.86 $ 0.69 $ 1.10 Stock options to purchase 32 and 62 shares of common stock for the three months and 28 and 63 shares of common stock for the six months ended June 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 six months ended June 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 Six months ended June 30, June 30, 2015 2014 2015 2014 Net income available to common unitholders (numerator): Net income $ 19,651 $ 47,991 $ 39,636 $ 62,244 Noncontrolling interests - consolidated real estate entities — (154 ) — (138 ) Preferred unit distributions (922 ) (922 ) (1,844 ) (1,844 ) Unvested restricted stock (allocation of earnings) (46 ) (110 ) (86 ) (132 ) Net income available to common unitholders, adjusted $ 18,683 $ 46,805 $ 37,706 $ 60,130 Common units (denominator): Weighted average units outstanding - basic 54,576 54,358 54,573 54,334 Dilutive units from stock options 14 112 15 115 Weighted average units outstanding - diluted 54,590 54,470 54,588 54,449 Per-unit amount: Basic $ 0.34 $ 0.86 $ 0.69 $ 1.11 Diluted $ 0.34 $ 0.86 $ 0.69 $ 1.10 Stock options to purchase 32 and 62 shares of common stock for the three months and 28 and 63 shares of common stock for the six months ended June 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.

Fair Value Measures and Other F

Fair Value Measures and Other Financial Instruments	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measures and Other Financial Instruments	8. FAIR VALUE MEASURES AND OTHER FINANCIAL INSTRUMENTS From time to time, the Company records certain assets and liabilities at fair value. Real estate assets may be stated at fair value if they become impaired in a given period and may be stated at fair value if they are held for sale and the fair value of such assets is below historical cost. Additionally, the Company records derivative financial instruments at fair value. The Company also uses fair value metrics to evaluate the carrying values of its real estate assets and for the disclosure of certain financial instruments. Fair value measurements were determined by management using available market information and appropriate valuation methodologies available to management at June 30, 2015. Considerable judgment is necessary to interpret market data and estimate fair value. Accordingly, there can be no assurance that the estimates discussed herein, using Level 2 and 3 inputs, are indicative of the amounts the Company could realize on disposition of the real estate assets or other financial instruments. The use of different market assumptions and/or estimation methodologies could have a material effect on the estimated fair value amounts. Real estate assets The Company periodically reviews its real estate assets, including operating assets, construction in progress and land held for future investment, for impairment purposes using Level 3 inputs, primarily comparable sales and market data, independent valuations and discounted cash flow models. For the three and six months ended June 30, 2015 and 2014, the Company did not recognize any impairment charges related to its real estate assets. Derivatives and other financial instruments The Company manages its exposure to interest rate changes through the use of derivative financial instruments, primarily interest rate swap arrangements. At June 30, 2015, the Company had outstanding three interest rate swap arrangements with substantially similar terms and conditions. These arrangements have an aggregate notional amount of $230,000 and require the Company to pay a blended fixed rate of approximately 1.55% (with the counterparties paying the Company the floating one-month LIBOR rate). Additionally, the Company had outstanding a fourth interest rate swap arrangement with a notional amount of $70,000 and it requires the Company to pay a fixed rate of approximately 1.50% (with the counterparty paying the Company the floating one-month LIBOR rate) (together, the “Interest Rate Swaps”). The Interest Rate Swaps serve as cash flow hedges of amounts outstanding under the Company’s variable rate Term Loan (see note 4) and provide for an effective blended fixed rate for the corresponding amount of Term Loan borrowings of approximately 2.69% (subject to an adjustment based on subsequent changes in the Company’s credit ratings) at June 30, 2015. The Interest Rate Swaps terminate in January 2018. The Interest Rate Swaps are measured and accounted for at fair value on a recurring basis. The Interest Rate Swaps outstanding at June 30, 2015 and December 31, 2014 were valued as net liabilities of $4,480 and $3,685, respectively, primarily using level 2 inputs, as substantially all of the fair value was determined using widely accepted discounted cash flow valuation techniques along with observable market-based inputs for similar types of arrangements. The Company reflects both the respective counterparty’s nonperformance risks and its own nonperformance risks in its fair value measurements using unobservable inputs. However, the impact of such risks was not considered material to the overall fair value measurements of the derivatives. These liabilities are included in accounts payable, accrued expenses and other liabilities on the consolidated balance sheets. Under ASC Topic 815, a corresponding amount is included in accumulated other comprehensive income (loss), an equity account, until the hedged transactions are recognized in earnings. The following table summarizes the effect of these Interest Rate Swaps (designated as cash flow hedges) on the Company’s consolidated statements of operations and comprehensive income for the three and six months ended June 30, 2015 and 2014: Three months ended Six months ended June 30, June 30, Interest Rate Swap / Cash Flow Hedging Instruments 2015 2014 2015 2014 Gain (loss) recognized in other comprehensive income $ (273 ) $ (2,553 ) $ (2,844 ) $ (3,563 ) Loss reclassified from accumulated other comprehensive income (loss) into interest expense $ (1,026 ) $ (1,046 ) $ (2,049 ) $ (2,076 ) The amounts reported in accumulated other comprehensive income as of June 30, 2015 will be reclassified to interest expense as interest payments are made under the hedged indebtedness. Over the next year, the Company estimates that $3,456 will be reclassified from accumulated comprehensive income to interest expense. As part of the Company’s on-going procedures, the Company monitors the credit worthiness of its financial institution counterparties and its exposure to any single entity, which it believes minimizes credit risk concentration. The Company believes the likelihood of realized losses from counterparty non-performance is remote. The Interest Rate Swaps are cross defaulted with the Company’s Term Loan and Syndicated Line (see note 4) and contain certain provisions consistent with these types of arrangements. If the Company was required to terminate the Interest Rate Swaps and settle the obligations thereunder as of June 30, 2015, the termination payment by the Company would have been approximately $4,484. Other financial instruments Cash equivalents, rents and accounts receivables, accounts payable, accrued expenses and other liabilities are carried at amounts which reasonably approximate their fair values because of the short-term nature of these instruments. At June 30, 2015, the fair value of fixed rate debt was approximately $604,328 (carrying value of $591,004) and the fair value of variable rate debt, including the Company’s lines of credit, was approximately $300,000 (carrying value of $300,000). At December 31, 2014, the fair value of fixed rate debt was approximately $620,641 (carrying value of $592,459) and the fair value of variable rate debt, including the Company’s lines of credit, was approximately $304,983 (carrying value of $300,000). Long-term indebtedness was valued using Level 2 inputs, primarily market prices of comparable debt instruments.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Segment Information	9. SEGMENT INFORMATION Segment description In accordance with ASC Topic 280, “Segment Reporting,” the Company presents segment information based on the way that management organizes the segments within the enterprise for making operating decisions and assessing performance. The segment information is prepared on the same basis as the internally reported information used by the Company’s chief operating decision makers to manage the business. The Company’s chief operating decision makers focus on the Company’s primary sources of income from apartment community rental operations. Apartment community rental operations are generally broken down into segments based on the various stages in the apartment community ownership lifecycle. These segments are described below. All commercial properties and other ancillary service and support operations are combined in the line item “other property segments” in the accompanying segment information. The segment information presented below reflects the segment categories based on the lifecycle status of each community as of January 1, 2014. • Fully stabilized communities – those apartment communities which have been stabilized (the earlier of the point at which a property reaches 95% occupancy or one year after completion of construction) for both 2015 and 2014. • Newly stabilized communities – those apartment communities which reached stabilized occupancy in 2014. • Lease-up communities – those apartment communities that are under development and lease-up but were not stabilized by the beginning of 2015, including communities that stabilized in 2015. • Held for sale and sold communities – those apartment and mixed-use communities classified as held for sale or sold in 2015 and those communities sold in 2014 (see note 2). Segment performance measure Management uses contribution to consolidated property net operating income (“NOI”) as the performance measure for its operating segments. The Company uses NOI, including NOI of stabilized communities, as an operating measure. NOI is defined as rental and other property revenue from real estate operations less total property and maintenance expenses from real estate operations (excluding depreciation and amortization). The Company believes that NOI is an important supplemental measure of operating performance for a REIT’s operating real estate because it provides a measure of the core operations, rather than factoring in depreciation and amortization, financing costs and general and administrative expenses generally incurred at the corporate level. This measure is particularly useful, in the opinion of the Company, in evaluating the performance of operating segment groupings and individual properties. Additionally, the Company believes that NOI, as defined, is a widely accepted measure of comparative operating performance in the real estate investment community. The Company believes that the line on the Company’s consolidated statement of operations entitled “net income (loss)” is the most directly comparable GAAP measure to NOI. Segment information The following table reflects each segment’s contribution to consolidated revenues and NOI together with a reconciliation of segment contribution to property NOI to consolidated net income for the three and six months ended June 30, 2015 and 2014. Additionally, substantially all of the Company’s assets relate to the Company’s property rental operations. Asset cost, depreciation and amortization by segment are not presented because such information at the segment level is not reported internally. Three months ended Six months ended June 30, June 30, 2015 2014 2015 2014 Revenues Fully stabilized communities $ 84,401 $ 82,109 $ 167,098 $ 162,899 Newly stabilized communities 4,260 2,419 8,419 4,277 Lease-up communities 1,096 213 2,118 233 Held for sale and sold communities — 4,820 — 10,689 Other property segments 5,400 5,242 10,640 9,998 Other 274 223 587 442 Consolidated revenues $ 95,431 $ 95,026 $ 188,862 $ 188,538 Contribution to Property Net Operating Income Fully stabilized communities $ 50,981 $ 49,547 $ 101,312 $ 99,293 Newly stabilized communities 2,683 1,211 5,290 1,985 Lease-up communities 376 (168 ) 902 (268 ) Held for sale and sold communities — 2,574 — 5,346 Other property segments, including corporate management expenses (395 ) (156 ) (864 ) (651 ) Consolidated property net operating income 53,645 53,008 106,640 105,705 Interest income 43 4 124 16 Other revenues 274 223 587 442 Depreciation (21,418 ) (20,829 ) (42,675 ) (42,596 ) Interest expense (7,753 ) (10,433 ) (15,846 ) (21,677 ) Amortization of deferred financing costs (433 ) (620 ) (882 ) (1,265 ) General and administrative (4,353 ) (3,966 ) (9,367 ) (8,094 ) Investment and development (275 ) (794 ) (510 ) (1,605 ) Other investment costs (154 ) (210 ) (288 ) (483 ) Other expenses — (502 ) — (1,409 ) Equity in income of unconsolidated real estate entities, net 568 501 965 986 Gains on sales of real estate assets, net (298 ) 36,092 1,475 36,902 Other income (expense), net (195 ) (196 ) (390 ) (391 ) Net loss on extinguishment of indebtedness — (4,287 ) (197 ) (4,287 ) Net income $ 19,651 $ 47,991 $ 39,636 $ 62,244

Stock-Based Compensation Plans

Stock-Based Compensation Plans	6 Months Ended
	Jun. 30, 2015
Postemployment Benefits [Abstract]
Stock-Based Compensation Plans	10. STOCK-BASED COMPENSATION PLANS As the primary operating subsidiary of the Company, the Operating Partnership participates in and bears the compensation expenses associated with the Company’s stock-based compensation plans. The information discussed below relating to the Company’s stock-based compensation plans is also applicable for the Operating Partnership. Incentive stock plans Incentive stock awards are granted under the Company’s 2003 Incentive Stock Plan, as amended and restated in October 2008 (the “2003 Stock Plan”). Under the 2003 Stock Plan, an aggregate of 3,469 shares of common stock were reserved for issuance. Of this amount, stock grants count against the total shares available under the 2003 Stock Plan as 2.7 shares for every one share issued, while options (and stock appreciation rights (“SAR”) settled in shares) count against the total shares available as one share for every one share issued on the exercise of an option (or SAR). The exercise price of each option granted under the 2003 Stock Plan may not be less than the market price of the Company’s common stock on the date of the option grant and all options may have a maximum life of ten years. Participants receiving restricted stock grants are generally eligible to vote such shares and receive dividends on such shares. Substantially all stock option and restricted stock grants are subject to annual vesting provisions (generally three to five years) as determined by the compensation committee overseeing the 2003 Stock Plan. Compensation costs for stock options have been estimated on the grant date using the Black-Scholes option-pricing method. The weighted average assumptions used in the Black-Scholes option-pricing model are as follows: Six months ended June 30, 2015 2014 Dividend yield 2.7 % 2.8 % Expected volatility 42.8 % 43.0 % Risk-free interest rate 1.4 % 1.8 % Expected option term (years) 6.0 years 6.0 years The Company’s assumptions were derived from the methodologies discussed herein. The expected dividend yield reflects the Company’s current historical yield, which was expected to approximate the future yield at the date of grant. Expected volatility was based on the historical volatility of the Company’s common stock. The risk-free interest rate for the expected life of the options was based on the implied yields on the U.S. Treasury yield curve at the date of grant. The weighted average expected option term was based on the Company’s historical data for prior period stock option exercise and forfeiture activity. Restricted stock Compensation cost for restricted stock is amortized ratably into compensation expense over the applicable vesting periods. Total compensation expense related to restricted stock was $766 and $818 for the three months and $2,233 and $1,588 for the six months ended June 30, 2015 and 2014, respectively. At June 30, 2015, there was $4,866 of unrecognized compensation cost related to restricted stock. This cost is expected to be recognized over a weighted average period of 2.0 years. A summary of the activity related to the Company’s restricted stock for the six months ended June 30, 2015 and 2014 is as follows: Six months ended June 30, 2015 2014 Weighted-Avg. Weighted-Avg. Grant-Date Grant-Date Shares Fair Value Shares Fair Value Unvested shares, beginning of period 76 $ 49 75 $ 48 Granted (1) 68 60 55 47 Vested (8 ) 54 (1 ) 12 Unvested shares, end of period 136 54 129 48 1) The total value of the restricted share grants for the six months ended June 30, 2015 and 2014 was $4,123 and $2,566, respectively. Stock options Compensation cost for stock options is amortized ratably into compensation expense over the applicable vesting periods. The Company recorded compensation expense related to stock options of $110 and $134 for the three months and $288 and $273 for the six months ended June 30, 2015 and 2014, respectively, recognized under the fair value method. At June 30, 2015, there was $727 of unrecognized compensation cost related to unvested stock options. This cost is expected to be recognized over a weighted average period of 2.1 years. A summary of stock option activity under all plans for the six months ended June 30, 2015 and 2014 is presented below: Six months ended June 30, 2015 2014 Exercise Exercise Shares Price Shares Price Options outstanding, beginning of period 148 $ 46 539 $ 36 Granted 28 60 35 47 Exercised (38 ) 48 (201 ) 34 Options outstanding, end of period (1) 138 49 373 38 Options exercisable, end of period (1) 77 45 311 36 Options vested and expected to vest, end of period (1) 135 49 371 38 Weighted average fair value of options granted during the period $ 19.49 $ 15.21 1) At June 30, 2015, the aggregate intrinsic value of stock options outstanding, exercisable and vested/expected to vest was $935, $725 and $925, respectively. At that same date, the weighted average remaining contractual lives of stock options outstanding, exercisable and vested/expected to vest was 7.0 years, 5.6 years and 7.0 years, respectively. Upon the exercise of stock options, the Company issues shares of common stock from treasury shares or, to the extent treasury shares are not available, from authorized common shares. The total intrinsic value of stock options exercised for the six months ended June 30, 2015 and 2014 was $548 and $3,160, respectively. At June 30, 2015, the Company segregated its outstanding options into two ranges, based on exercise prices, as follows: Option Ranges Options Outstanding Options Exercisable Weighted Avg. Weighted Avg. Weighted Avg. Shares Exercise Price Life (Years) Shares Exercise Price $37.04 - $46.93 80 $ 44 6.3 56 $ 43 $48.00 - $60.40 58 55 8.0 21 50 Total 138 49 7.0 77 45 Employee stock purchase plan The Company maintains an Employee Stock Purchase Plan (the “ESPP”) approved by Company shareholders in 2014. The maximum number of shares issuable under the ESPP is 250. The purchase price of shares of common stock under the ESPP is equal to 85% of the lesser of the closing price per share of common stock on the first or last day of the trading period, as defined. The Company records the aggregate cost of the ESPP (generally the 15% discount on the share purchases) as a period expense. Total compensation expense relating to the ESPP was $56 and $39 for the three months and $110 and $78 for the six months ended June 30, 2015 and 2014, respectively.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	11. INCOME TAXES The Company has elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”). To qualify as a REIT, the Company must distribute annually at least 90% of its adjusted taxable income, as defined in the Code, to its shareholders and satisfy certain other organizational and operating requirements. It is management’s current intention to adhere to these requirements and maintain the Company’s REIT status. As a REIT, the Company generally will not be subject to federal income tax at the corporate level on the taxable income it distributes to its shareholders. Should the Company fail to qualify as a REIT in any tax year, it may be subject to federal income taxes at regular corporate rates (including any applicable alternative minimum tax) and may not be able to qualify as a REIT for four subsequent taxable years. The Company may be subject to certain state and local taxes on its income and property, and to federal income taxes and excise taxes on its undistributed taxable income. The Operating Partnership files tax returns as a limited partnership under the Code. As a partnership, the income and losses of the Operating Partnership are allocated to its partners, including the Company, for inclusion in their respective income tax returns. Accordingly, no provision or benefit for income taxes has been included in the accompanying Operating Partnership financial statements. The Operating Partnership intends to make sufficient cash distributions to the Company to enable it to meet its annual REIT distribution requirements. In the preparation of income tax returns in federal and state jurisdictions, the Company, the Operating Partnership and its taxable REIT subsidiaries assert certain tax positions based on their understanding and interpretation of the income tax law. The taxing authorities may challenge such positions and the resolution of such matters could result in the payment and recognition of additional income tax expense. Management believes it has used reasonable judgments and conclusions in the preparation of its income tax returns. The Company and its subsidiaries, including the Company’s taxable REIT subsidiaries (“TRSs”), income tax returns are subject to examination by federal and state tax jurisdictions for years 2011 through 2013. Net income tax loss carryforwards and other tax attributes generated in years prior to 2011 are also subject to challenge in any examination of the 2011 to 2013 tax years. The Company utilizes TRSs principally to perform such non-REIT activities as asset and property management and other services. These TRSs are subject to federal and state income taxes. The income tax attributes associated with the TRSs are not material to the Company’s consolidated financial position or results of operations.

Other Expenses

Other Expenses	6 Months Ended
	Jun. 30, 2015
Other Income and Expenses [Abstract]
Other Expenses	12. OTHER EXPENSES Other expenses for the three and six months ended June 30, 2014 included expenses of approximately $502 and $659, respectively, related to the upgrade of the Company’s operating and financial software systems. For the six months ended June 30, 2014, other expenses also included casualty losses of $750 primarily related to extreme winter weather conditions in many of the Company’s markets, and due to fire damage at one of the Company’s Atlanta, Georgia communities.

Legal Proceedings, Commitments

Legal Proceedings, Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings, Commitments and Contingencies	13. LEGAL PROCEEDINGS, COMMITMENTS AND CONTINGENCIES In September 2010, the United States Department of Justice (the “DOJ”) filed a lawsuit against the Company in the United States District Court for the Northern District of Georgia. The suit alleges various violations of the Fair Housing Act (“FHA”) and the Americans with Disabilities Act (“ADA”) at properties designed, constructed or operated by the Company in the District of Columbia, Virginia, Florida, Georgia, New York, North Carolina and Texas. The plaintiff seeks statutory damages and a civil penalty in unspecified amounts, as well as injunctive relief that includes retrofitting apartments and public use areas to comply with the FHA and the ADA and prohibiting construction or sale of noncompliant units or complexes. The Company filed a motion to transfer the case to the United States District Court for the District of Columbia, where a previous civil case involving alleged violations of the FHA and ADA by the Company was filed and ultimately dismissed. On October 29, 2010, the United States District Court for the Northern District of Georgia issued an opinion finding that the complaint shows that the DOJ’s claims are essentially the same as the previous civil case, and, therefore, granted the Company’s motion and transferred the DOJ’s case to the United States District Court for the District of Columbia. Discovery has closed, and the Court has denied motions filed by the parties relating to additional discovery and expert witnesses. Each party filed Motions for Summary Judgment, which were briefed in April 2014. In March 2015, the Court denied both Motions for Summary Judgment and requested supplemental briefing, which both sides submitted in June 2015. Until such time as the court issues rulings on the application of the law to the facts of this case, it is not possible to predict or determine the outcome of the legal proceeding, nor is it possible to estimate the amount of loss, if any, that would be associated with an adverse decision. The Company is involved in various other legal proceedings incidental to their business from time to time, some of which are expected to be covered by liability or other insurance. Management of the Company believes that any resolution of pending proceedings or liability to the Company which may arise as a result of these various other legal proceedings will not have a material effect on the Company’s results of operations, cash flows or financial position.

Organization and Significant 21

Organization and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Organization	Organization Post Properties, Inc. (the “Company”) and its subsidiaries develop, own and manage upscale multi-family apartment communities in selected markets in the United States. The Company through its wholly-owned subsidiaries is the sole general partner, a limited partner and owns a majority interest in Post Apartment Homes, L.P. (the “Operating Partnership”), a Georgia limited partnership. The Operating Partnership, through its operating divisions and subsidiaries conducts substantially all of the on-going operations of the Company, a publicly traded corporation which operates as a self-administered and self-managed real estate investment trust (“REIT”). As used herein, the term “Company” includes Post Properties, Inc. and its subsidiaries, including Post Apartment Homes, L.P., unless the context indicates otherwise. The Company has elected to qualify and operate as a self-administrated and self-managed REIT for federal income tax purposes. A REIT is a legal entity which holds real estate interests and is generally not subject to federal income tax on the income it distributes to its shareholders. The Operating Partnership is governed under the provisions of a limited partnership agreement, as amended. Under the provisions of the limited partnership agreement, as amended, Operating Partnership net profits, net losses and cash flow (after allocations to preferred ownership interests) are allocated to the partners in proportion to their common ownership interests. Cash distributions from the Operating Partnership shall be, at a minimum, sufficient to enable the Company to satisfy its annual dividend requirements to maintain its REIT status under the Internal Revenue Code of 1986, as amended. At June 30, 2015, the Company had interests in 23,365 apartment units in 59 communities, including 1,471 apartment units in four communities held in unconsolidated entities and 1,834 apartment units in five communities currently under development. At June 30, 2015, approximately 29.1%, 21.9%, 13.5% and 10.9% (on a unit basis) of the Company’s operating communities were located in the Atlanta, Georgia, Dallas, Texas, the greater Washington, D.C. and Tampa, Florida metropolitan areas, respectively. At June 30, 2015, the Company had outstanding 54,592 shares of common stock and owned the same number of units of common limited partnership interests (“Common Units”) in the Operating Partnership, representing a 99.8% ownership interest in the Operating Partnership. Common Units held by persons other than the Company totaled 121 at June 30, 2015 and represented a 0.2% common noncontrolling interest in the Operating Partnership. Each Common Unit may be redeemed by the holder thereof for either one share of Company common stock or cash equal to the fair market value thereof at the time of redemption, at the option, but outside the control, of the Operating Partnership. The Operating Partnership presently anticipates that it will cause shares of common stock to be issued in connection with each such redemption rather than paying cash (as has been done in all redemptions to date). With each redemption of outstanding Common Units for Company common stock, the Company’s percentage ownership interest in the Operating Partnership will increase. In addition, whenever the Company issues shares of common stock, the Company will contribute any net proceeds therefrom to the Operating Partnership and the Operating Partnership will issue an equivalent number of Common Units to the Company. The Company’s weighted average common ownership interest in the Operating Partnership was 99.8% for three and six month ended June 30, 2015 and 2014.
Basis of presentation	Basis of presentation The accompanying unaudited financial statements have been prepared by the Company’s management in accordance with generally accepted accounting principles for interim financial information and applicable rules and regulations of the Securities and Exchange Commission. Accordingly, they do not include all of the information and disclosures required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting only of normally recurring adjustments) considered necessary for a fair presentation have been included. The results of operations for the three and six months ended June 30, 2015 are not necessarily indicative of the results that may be expected for the full year. These financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in its Annual Report on Form 10-K for the year ended December 31, 2014. The accompanying consolidated financial statements include the consolidated accounts of the Company, the Operating Partnership and their wholly owned subsidiaries. The Company also consolidates other entities in which it has a controlling financial interest or entities where it is determined to be the primary beneficiary under ASC Topic 810, “Consolidation.” Under ASC Topic 810, variable interest entities (“VIEs”) are generally entities that lack sufficient equity to finance their activities without additional financial support from other parties or whose equity holders lack adequate decision making ability. The primary beneficiary is required to consolidate a VIE for financial reporting purposes. The application of ASC Topic 810 requires management to make significant estimates and judgments about the Company’s and its other partners’ rights, obligations and economic interests in such entities. For entities in which the Company has less than a controlling financial interest or entities where it is not deemed to be the primary beneficiary, the entities are accounted for using the equity method of accounting. Accordingly, the Company’s share of the net earnings or losses of these entities is included in consolidated net income. All inter-company accounts and transactions have been eliminated in consolidation. The Company’s noncontrolling interest of common unitholders (also referred to as “Redeemable Common Units”) in the operations of the Operating Partnership is calculated based on the weighted average unit ownership during the period.
Revenue recognition	Revenue recognition Residential properties are leased under operating leases with terms of generally one year or less. Rental revenues from residential leases are recognized on the straight-line method over the approximate life of the leases, which is generally one year. The recognition of rental revenues from residential leases when earned has historically not been materially different from rental revenues recognized on a straight-line basis. Under the terms of residential leases, the residents of the Company’s residential communities are obligated to reimburse the Company for certain utility usage, water and electricity (at selected properties), where the Company is the primary obligor to the public utility entity. These utility reimbursements from residents are reflected as other property revenues in the consolidated statements of operations.
Cost capitalization	Cost capitalization For communities under development or construction, the Company capitalizes interest, real estate taxes, and certain internal personnel and associated costs related to the development and construction activity. Interest is capitalized to projects under development or construction based upon the weighted average cumulative project costs for each month multiplied by the Company’s weighted average borrowing costs, expressed as a percentage. Weighted average borrowing costs include the costs of the Company’s fixed rate secured and unsecured borrowings and the variable rate unsecured borrowings under its line of credit facilities. The weighted average borrowing costs, expressed as a percentage, were 4.3% and 4.6% for the six months ended June 30, 2015 and 2014, respectively. Aggregate interest costs capitalized to projects under development or construction were $1,237 and $755 for the three months and $2,219 and $1,601 for the six months ended June 30, 2015 and 2014, respectively. Internal development and construction personnel and associated costs are capitalized to projects under development or construction based upon the effort associated with such projects. Aggregate internal development and construction personnel and associated costs capitalized to projects under development or construction were $1,213 and $512 for the three months and $2,348 and $1,001 for the six months ended June 30, 2015 and 2014, respectively. The Company treats each unit in an apartment community separately for cost accumulation, capitalization and expense recognition purposes. Prior to the completion of rental units, interest and other construction costs are capitalized and reflected on the balance sheet as construction in progress. The Company ceases the capitalization of such costs as the residential units in a community become substantially complete and available for occupancy or sale. This results in a proration of costs between amounts that are capitalized and expensed as the residential units in apartment development communities become available for occupancy. In addition, prior to the completion of rental units, the Company expenses as incurred substantially all operating expenses (including pre-opening marketing as well as property management and leasing personnel expenses) of such rental communities.
Real estate assets, depreciation and impairment	Real estate assets, depreciation and impairment Real estate assets are stated at the lower of depreciated cost or fair value, if deemed impaired. Major replacements and betterments are capitalized and depreciated over their estimated useful lives. Depreciation is computed on a straight-line basis over the useful lives of the properties (buildings and components—40 years; other building and land improvements—20 years; furniture, fixtures and equipment – 5-10 years). The Company continually evaluates the recoverability of the carrying value of its real estate assets using the methodology prescribed in ASC Topic 360, “Property, Plant and Equipment.” Factors considered by management in evaluating impairment of its existing real estate assets held for investment include significant declines in property operating profits, annually recurring property operating losses and other significant adverse changes in general market conditions that are considered permanent in nature. Under ASC Topic 360, a real estate asset held for investment is not considered impaired if the undiscounted, estimated future cash flows of an asset (both the annual estimated cash flow from future operations and the estimated cash flow from the theoretical sale of the asset) over its estimated holding period are in excess of the asset’s net book value at the balance sheet date. If any real estate asset held for investment is considered impaired, a loss is provided to reduce the carrying value of the asset to its estimated fair value. The Company periodically classifies real estate assets as held for sale. An asset is classified as held for sale after the approval of the Company’s board of directors and after an active program to sell the asset has commenced. Upon the classification of a real estate asset as held for sale, the carrying value of the asset is reduced to the lower of its net book value or its estimated fair value, less costs to sell the asset. Subsequent to the classification of assets as held for sale, no further depreciation expense is recorded. Real estate assets held for sale are stated separately on the accompanying consolidated balance sheets. Upon a decision to no longer market an asset for sale, the asset is classified as an operating asset and depreciation expense is reinstated.
Derivative financial instruments	Derivative financial instruments The Company accounts for derivative financial instruments at fair value under the provisions of ASC Topic 815, “Derivatives and Hedging.” The Company measures derivative financial instruments subject to master netting agreements on a net basis. The Company uses derivative financial instruments, primarily interest rate swap arrangements to manage or hedge its exposure to interest rate changes. Under ASC Topic 815, derivative instruments qualifying as hedges of specific cash flows are recorded on the balance sheet at fair value with an offsetting increase or decrease to accumulated other comprehensive income, an equity account, until the hedged transactions are recognized in earnings. Quarterly, the Company evaluates the effectiveness of its cash flow hedges. Any ineffective portion of cash flow hedges is recognized immediately in earnings.
Fair value measurements	Fair value measurements The Company applies the guidance in ASC Topic 820, “Fair Value Measurements and Disclosures,” to the valuation of real estate assets recorded at fair value, if any, to its impairment valuation analysis of real estate assets, to its disclosure of the fair value of financial instruments, principally indebtedness and to its derivative financial instruments. Fair value disclosures required under ASC Topic 820 are summarized in note 8 utilizing the following hierarchy: • Level 1 – Quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date. • Level 2 – Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. • Level 3 – Unobservable inputs for the assets or liability.
Recently issued accounting pronouncements	Recently issued accounting pronouncements In May 2014, Accounting Standards Update No. 2014-09 (“ASU 2014-09”), “Revenue from Contracts with Customers,” was issued. This new guidance establishes a single comprehensive revenue recognition model under U.S. GAAP and provides for enhanced disclosures. Under this new guidance, the amount of revenue recognized for certain transactions could differ from amounts recognized under existing accounting guidance and could also result in recognition in different reporting periods. Also, the provisions of ASU 2014-09 exclude revenue recognition regarding lease contracts. In July 2015, ASU 2014-09 was amended to defer the effective date by one year. The new guidance is effective for annual reporting periods beginning after December 15, 2017; however, early adoption is permitted for annual reporting periods beginning after December 15, 2016. The Company expects to adopt ASU 2014-09 as of January 1, 2018 and is currently evaluating the impact that this new guidance may have on its results of operations. In February 2015, Accounting Standards Update No. 2015-02 (“ASU 2015-02”), “Consolidation,” was issued. The new guidance primarily amends current consolidation accounting guidance with respect to the evaluation criteria for determining whether certain limited partnerships or similar legal entities and certain variable interest entities are subject to consolidated reporting. The new guidance is effective for reporting periods beginning after December 15, 2015. The Company expects to adopt ASU 2015-02 as of January 1, 2016 and is currently evaluating the impact this new standard may have on its financial position and results of operations. In April 2015, Accounting Standards Update No. 2015-03 (“ASU 2015-03”), “Interest-Imputation of Interest”, was issued. The new guidance requires debt issuance costs to be reported as direct deductions from the face value of the related debt instrument in the preparation of consolidated balance sheets. Currently, such debt issuance costs are reported as deferred assets on the consolidated balance sheet. Further, the amortization of debt issuance costs will be reported as interest expense in the consolidated statement of operations, under ASU 2015-03. Currently, amortization expense of debt issuance costs is reported as a separate line item in the consolidated statement of operations. The new guidance is effective for reporting periods beginning after December 31, 2015. The Company expects to adopt ASU 2015-03 as of January 1, 2016.

Organization and Significant 22

Organization and Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Supplemental cash flow information	Supplemental cash flow information Supplemental cash flow information for the six months ended June 30, 2015 and 2014 is as follows: Six months ended June 30, 2015 2014 Interest paid, net of interest capitalized $ 16,072 $ 22,265 Interest paid, including interest capitalized 18,291 23,866 Income tax payments, net 1,124 1,039 Non-cash investing and financing activities: Dividends and distributions payable 24,074 21,805 Construction and property capital expenditure cost accruals, increase (decrease) 4,497 (2,350 ) Adjustments to equity related to redeemable common units and other, net increase (decrease) 517 (1,064 ) Common stock 401k matching contribution — 658

Real Estate Activity (Tables)

Real Estate Activity (Tables)	6 Months Ended
	Jun. 30, 2015
Real Estate [Abstract]
Net Income Attributable to Noncontrolling Interest	The net income and net income attributable to the Company, including gains on sales of real estate assets related to these three communities, for the three and six months ended June 30, 2014 were as follows: Three months ended Six months ended June 30, 2014 June 30, 2014 Net income $ 37,356 $ 37,493 Net income, net of noncontrolling interest $ 37,202 $ 37,355

Investments in Unconsolidated24

Investments in Unconsolidated Real Estate Entities (Tables) - Unconsolidated Properties [Member]	6 Months Ended
	Jun. 30, 2015
Summary of Financial Information for Apartment LLCs	A summary of financial information for the Apartment LLCs in the aggregate is as follows: June 30, December 31, Apartment LLCs—Balance Sheet Data 2015 2014 Real estate assets, net of accumulated depreciation of $52,012 and $49,153 at June 30, 2015 and December 31, 2014, respectively $ 207,785 $ 208,493 Cash and other 7,261 5,490 Total assets $ 215,046 $ 213,983 Mortgage notes payable $ 177,723 $ 177,723 Other liabilities 4,721 3,445 Total liabilities 182,444 181,168 Members’ equity 32,602 32,815 Total liabilities and members’ equity $ 215,046 $ 213,983 Company’s equity investment in Apartment LLCs (1) $ (12,480 ) $ (12,565 ) 1) At June 30, 2015 and December 31, 2014, the Company’s equity investment includes its credit investments of $16,437 and $16,624, respectively, discussed above.
Schedule of Operation for Apartment LLCs	Three months ended Six months ended June 30, June 30, Apartment LLCs—Income Statement Data 2015 2014 2015 2014 Revenues Rental $ 6,856 $ 6,635 $ 13,640 $ 13,120 Other property revenues 538 489 993 928 Total revenues 7,394 7,124 14,633 14,048 Expenses Property operating and maintenance 3,049 2,830 6,156 5,581 Depreciation and amortization 1,464 1,387 2,912 2,763 Interest 2,258 2,258 4,496 4,496 Total expenses 6,771 6,475 13,564 12,840 Net income $ 623 $ 649 $ 1,069 $ 1,208 Company’s share of net income in Apartment LLCs $ 568 $ 501 $ 965 $ 986

Indebtedness (Tables)

Indebtedness (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Schedule of Indebtedness	At June 30, 2015 and December 31, 2014, the Company’s indebtedness consisted of the following: Payment Maturity June 30, December 31, Description Terms Interest Rate Date 2015 2014 Senior Unsecured Notes Int. 3.375% - 4.75% 2017 - 2022(1) $ 400,000 $ 400,000 Unsecured Bank Term Loan Int. LIBOR + 1.15%(2) 2020 300,000 300,000 Secured Mortgage Notes Prin. and Int. 5.99% 2019 191,004 192,459 Total $ 891,004 $ 892,459 1) The outstanding unsecured notes mature in 2017 and 2022. 2) Represents stated rate at June 30, 2015. As discussed below, the Company has entered into interest rate swap arrangements that effectively fix the interest rate under this facility through January 2018. At June 30, 2015, the effective blended interest rate under the Amended Term Loan was 2.69%.
Schedule of Aggregate Maturities of Indebtedness	The aggregate maturities of the Company’s indebtedness are as follows: Remainder of 2015 $ 1,467 2016 3,071 2017 153,296 2018 3,502 2019 179,668 Thereafter 550,000 $ 891,004

Equity and Noncontrolling Int26

Equity and Noncontrolling Interests (Tables)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Schedule of Redeemable Common Units	A roll-forward of activity relating to the Company’s Redeemable Common Units for the six months ended June 30, 2015 and 2014 was as follows: Six months ended June 30, 2015 2014 Redeemable common units, beginning of period $ 7,086 $ 6,121 Comprehensive income 81 147 Adjustment for ownership interest of redeemable common units — 7 Stock-based compensation 6 5 Distributions to common unitholders (101 ) (102 ) Adjustment to redemption value of redeemable common units (517 ) 1,057 Redeemable common units, end of period $ 6,555 $ 7,235

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2015
Schedule of Computation of Basic and Diluted Net Income Per Share	For the three and six months ended June 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 Six months ended June 30, June 30, 2015 2014 2015 2014 Net income available to common shareholders (numerator): Net income $ 19,651 $ 47,991 $ 39,636 $ 62,244 Noncontrolling interests - consolidated real estate entities — (154 ) — (138 ) Noncontrolling interests - Operating Partnership (41 ) (118 ) (83 ) (151 ) Preferred stock dividends (922 ) (922 ) (1,844 ) (1,844 ) Unvested restricted stock (allocation of earnings) (46 ) (110 ) (86 ) (132 ) Net income available to common shareholders, adjusted $ 18,642 $ 46,687 $ 37,623 $ 59,979 Common shares (denominator): Weighted average shares outstanding - basic 54,455 54,223 54,452 54,199 Dilutive shares from stock options 14 112 15 115 Weighted average shares outstanding - diluted 54,469 54,335 54,467 54,314 Per-share amount: Basic $ 0.34 $ 0.86 $ 0.69 $ 1.11 Diluted $ 0.34 $ 0.86 $ 0.69 $ 1.10
Post Apartment Homes, L.P. [Member]
Schedule of Computation of Basic and Diluted Net Income Per Share	For the three and six months ended June 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 Six months ended June 30, June 30, 2015 2014 2015 2014 Net income available to common unitholders (numerator): Net income $ 19,651 $ 47,991 $ 39,636 $ 62,244 Noncontrolling interests - consolidated real estate entities — (154 ) — (138 ) Preferred unit distributions (922 ) (922 ) (1,844 ) (1,844 ) Unvested restricted stock (allocation of earnings) (46 ) (110 ) (86 ) (132 ) Net income available to common unitholders, adjusted $ 18,683 $ 46,805 $ 37,706 $ 60,130 Common units (denominator): Weighted average units outstanding - basic 54,576 54,358 54,573 54,334 Dilutive units from stock options 14 112 15 115 Weighted average units outstanding - diluted 54,590 54,470 54,588 54,449 Per-unit amount: Basic $ 0.34 $ 0.86 $ 0.69 $ 1.11 Diluted $ 0.34 $ 0.86 $ 0.69 $ 1.10

Fair Value Measures and Other28

Fair Value Measures and Other Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Schedule of Effect of Interest Rate Swaps Designated as Cash Flow Hedges	The following table summarizes the effect of these Interest Rate Swaps (designated as cash flow hedges) on the Company’s consolidated statements of operations and comprehensive income for the three and six months ended June 30, 2015 and 2014: Three months ended Six months ended June 30, June 30, Interest Rate Swap / Cash Flow Hedging Instruments 2015 2014 2015 2014 Gain (loss) recognized in other comprehensive income $ (273 ) $ (2,553 ) $ (2,844 ) $ (3,563 ) Loss reclassified from accumulated other comprehensive income (loss) into interest expense $ (1,026 ) $ (1,046 ) $ (2,049 ) $ (2,076 )

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Schedule of Segment's Contribution to Consolidated Revenues and Net Operating Income	Asset cost, depreciation and amortization by segment are not presented because such information at the segment level is not reported internally. Three months ended Six months ended June 30, June 30, 2015 2014 2015 2014 Revenues Fully stabilized communities $ 84,401 $ 82,109 $ 167,098 $ 162,899 Newly stabilized communities 4,260 2,419 8,419 4,277 Lease-up communities 1,096 213 2,118 233 Held for sale and sold communities — 4,820 — 10,689 Other property segments 5,400 5,242 10,640 9,998 Other 274 223 587 442 Consolidated revenues $ 95,431 $ 95,026 $ 188,862 $ 188,538 Contribution to Property Net Operating Income Fully stabilized communities $ 50,981 $ 49,547 $ 101,312 $ 99,293 Newly stabilized communities 2,683 1,211 5,290 1,985 Lease-up communities 376 (168 ) 902 (268 ) Held for sale and sold communities — 2,574 — 5,346 Other property segments, including corporate management expenses (395 ) (156 ) (864 ) (651 ) Consolidated property net operating income 53,645 53,008 106,640 105,705 Interest income 43 4 124 16 Other revenues 274 223 587 442 Depreciation (21,418 ) (20,829 ) (42,675 ) (42,596 ) Interest expense (7,753 ) (10,433 ) (15,846 ) (21,677 ) Amortization of deferred financing costs (433 ) (620 ) (882 ) (1,265 ) General and administrative (4,353 ) (3,966 ) (9,367 ) (8,094 ) Investment and development (275 ) (794 ) (510 ) (1,605 ) Other investment costs (154 ) (210 ) (288 ) (483 ) Other expenses — (502 ) — (1,409 ) Equity in income of unconsolidated real estate entities, net 568 501 965 986 Gains on sales of real estate assets, net (298 ) 36,092 1,475 36,902 Other income (expense), net (195 ) (196 ) (390 ) (391 ) Net loss on extinguishment of indebtedness — (4,287 ) (197 ) (4,287 ) Net income $ 19,651 $ 47,991 $ 39,636 $ 62,244

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	6 Months Ended
	Jun. 30, 2015
Postemployment Benefits [Abstract]
Schedule of Assumptions Used in Black-Scholes Option-Pricing Model	The weighted average assumptions used in the Black-Scholes option-pricing model are as follows: Six months ended June 30, 2015 2014 Dividend yield 2.7 % 2.8 % Expected volatility 42.8 % 43.0 % Risk-free interest rate 1.4 % 1.8 % Expected option term (years) 6.0 years 6.0 years
Summary of Activity Related to Company's Restricted Stock	A summary of the activity related to the Company’s restricted stock for the six months ended June 30, 2015 and 2014 is as follows: Six months ended June 30, 2015 2014 Weighted-Avg. Weighted-Avg. Grant-Date Grant-Date Shares Fair Value Shares Fair Value Unvested shares, beginning of period 76 $ 49 75 $ 48 Granted (1) 68 60 55 47 Vested (8 ) 54 (1 ) 12 Unvested shares, end of period 136 54 129 48 1) The total value of the restricted share grants for the six months ended June 30, 2015 and 2014 was $4,123 and $2,566, respectively.
Summary of Stock Option Activity Under All Plans	A summary of stock option activity under all plans for the six months ended June 30, 2015 and 2014 is presented below: Six months ended June 30, 2015 2014 Exercise Exercise Shares Price Shares Price Options outstanding, beginning of period 148 $ 46 539 $ 36 Granted 28 60 35 47 Exercised (38 ) 48 (201 ) 34 Options outstanding, end of period (1) 138 49 373 38 Options exercisable, end of period (1) 77 45 311 36 Options vested and expected to vest, end of period (1) 135 49 371 38 Weighted average fair value of options granted during the period $ 19.49 $ 15.21 1) At June 30, 2015, the aggregate intrinsic value of stock options outstanding, exercisable and vested/expected to vest was $935, $725 and $925, respectively. At that same date, the weighted average remaining contractual lives of stock options outstanding, exercisable and vested/expected to vest was 7.0 years, 5.6 years and 7.0 years, respectively.
Schedule of Outstanding Options into Two Ranges, Based on Exercise Prices	At June 30, 2015, the Company segregated its outstanding options into two ranges, based on exercise prices, as follows: Option Ranges Options Outstanding Options Exercisable Weighted Avg. Weighted Avg. Weighted Avg. Shares Exercise Price Life (Years) Shares Exercise Price $37.04 - $46.93 80 $ 44 6.3 56 $ 43 $48.00 - $60.40 58 55 8.0 21 50 Total 138 49 7.0 77 45

Organization and Significant 31

Organization and Significant Accounting Policies - Additional Information (Detail) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)ApartmentPropertyshares	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)ApartmentPropertyshares	Jun. 30, 2014USD ($)	Dec. 31, 2014shares
Real Estate Properties [Line Items]
Number of units in real estate property | Apartment	23,365		23,365
Number of real estate properties	59		59
Common stock, shares outstanding | shares	54,592,000		54,592,000		54,509,000
Common units, shares outstanding | shares	121,000		121,000
Ownership interest percentage in Operating Partnership	99.80%	99.80%	99.80%	99.80%
Common units held by persons other than the Company | shares	121,000		121,000
Noncontrolling interest, ownership percentage by noncontrolling owners	0.20%		0.20%
Number of shares for redemption of each common unit | shares	1		1
Operating leases term (in years)			1 year
Revenue recognized lease (in years)			1 year
Aggregate interest costs capitalized to projects under development or construction | $	$ 1,237	$ 755	$ 2,219	$ 1,601
Development or construction costs | $	$ 1,213	$ 512	$ 2,348	$ 1,001
Unconsolidated Properties [Member]
Real Estate Properties [Line Items]
Number of units in real estate property | Apartment	1,471		1,471
Number of real estate properties	4		4
Unconsolidated Properties [Member] | Atlanta, Georgia [Member]
Real Estate Properties [Line Items]
Number of real estate properties	3		3
Unconsolidated Properties [Member] | Washington, D.C. [Member]
Real Estate Properties [Line Items]
Number of real estate properties	1		1
Under Development [Member]
Real Estate Properties [Line Items]
Number of units in real estate property | Apartment	1,834		1,834
Number of real estate properties	5		5
Cost Capitalization [Member]
Real Estate Properties [Line Items]
Weighted average borrowing costs, percentage	4.30%	4.60%	4.30%	4.60%
Operating Communities [Member] | Geographic Concentration Risk [Member] | Atlanta, Georgia [Member]
Real Estate Properties [Line Items]
Concentration of location for communities, percentage			29.10%
Operating Communities [Member] | Geographic Concentration Risk [Member] | Dallas, Texas [Member]
Real Estate Properties [Line Items]
Concentration of location for communities, percentage			21.90%
Operating Communities [Member] | Geographic Concentration Risk [Member] | Washington, D.C. [Member]
Real Estate Properties [Line Items]
Concentration of location for communities, percentage			13.50%
Operating Communities [Member] | Geographic Concentration Risk [Member] | Tampa, Florida [Member]
Real Estate Properties [Line Items]
Concentration of location for communities, percentage			10.90%
Buildings and Components [Member]
Real Estate Properties [Line Items]
Estimated useful life (in years)			40 years
Other Building and Land Improvements [Member]
Real Estate Properties [Line Items]
Estimated useful life (in years)			20 years
Furniture, Fixtures and Equipment [Member] | Minimum [Member]
Real Estate Properties [Line Items]
Estimated useful life (in years)			5 years
Furniture, Fixtures and Equipment [Member] | Maximum [Member]
Real Estate Properties [Line Items]
Estimated useful life (in years)			10 years

Organization and Significant 32

Organization and Significant Accounting Policies - Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Accounting Policies [Abstract]
Interest paid, net of interest capitalized	$ 16,072	$ 22,265
Interest paid, including interest capitalized	18,291	23,866
Income tax payments, net	1,124	1,039
Non-cash investing and financing activities:
Dividends and distributions payable	24,074	21,805
Construction and property capital expenditure cost accruals, increase (decrease)	4,497	(2,350)
Adjustments to equity related to redeemable common units and other, net increase (decrease)	517	(1,064)
Common stock 401k matching contribution	$ 0	$ 658

Real Estate Activity (Dispositi

Real Estate Activity (Dispositions) - Additional Information (Detail) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	May. 31, 2014USD ($)	Jun. 30, 2015USD ($)ApartmentProperty	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)ApartmentProperty	Jun. 30, 2014USD ($)	Mar. 31, 2014Apartment
Real Estate Properties [Line Items]
Number of real estate properties | Property		59		59
Number of units in real estate property		23,365		23,365
Gains on sales of real estate assets, net | $		$ (298)	$ 36,092	$ 1,475	$ 36,902
Apartment Communities Sold [Member] | New York [Member]
Real Estate Properties [Line Items]
Number of real estate properties						2
Number of units in real estate property						337
Apartment Communities Sold [Member] | Houston, Texas [Member]
Real Estate Properties [Line Items]
Number of real estate properties						1
Number of units in real estate property						308
Apartment community sold approximately for gross proceeds | $	$ 71,750
Gains on sales of real estate assets, net | $	$ 36,092			(298)
For-Sale Condominium Homes [Member] | Austin Condominium Project [Member]
Real Estate Properties [Line Items]
Gains on sales of real estate assets, net | $				$ 1,773
For-Sale Condominium Homes [Member] | Atlanta Condominium Project [Member]
Real Estate Properties [Line Items]
Gains on sales of real estate assets, net | $					$ 810
Assets Held-for-Sale [Member]
Real Estate Properties [Line Items]
Number of units in real estate property						645
Assets Held-for-Sale [Member] | Apartment Communities Sold [Member]
Real Estate Properties [Line Items]
Number of real estate properties						3

Real Estate Activity - Net Inco

Real Estate Activity - Net Income Attributable to Noncontrolling Interest (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Loss From Operations Net Of Non Controlling Interest [Line Items]
Net income	$ 19,651	$ 47,991	$ 39,636	$ 62,244
Net income, net of noncontrolling interest	$ 19,610	47,719	$ 39,553	61,955
Apartment Communities Sold [Member] | Assets Held-for-Sale [Member]
Income Loss From Operations Net Of Non Controlling Interest [Line Items]
Net income		37,356		37,493
Net income, net of noncontrolling interest		$ 37,202		$ 37,355

Investments in Unconsolidated35

Investments in Unconsolidated Real Estate Entities - Additional Information (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2015USD ($)Property	Dec. 31, 2014USD ($)
Real Estate Properties [Line Items]
Number of real estate properties | Property	59
Investment in owned subsidiaries	$ 3,957	$ 4,059
Investments in unconsolidated real estate entities	$ 16,437	16,624
Unconsolidated Properties [Member]
Real Estate Properties [Line Items]
Number of real estate properties | Property	4
Investments in unconsolidated real estate entities	$ 16,437	16,624
Mortgage note payable	177,723	$ 177,723
3.50% Mortgage Note Payable [Member]
Real Estate Properties [Line Items]
Mortgage note payable	$ 51,000
Mortgage notes payable bearing interest rate	3.50%
5.63% Mortgage Notes Payable [Member]
Real Estate Properties [Line Items]
Mortgage note payable	$ 85,724
Mortgage notes payable bearing interest rate	5.63%
5.71% Mortgage Notes Payable [Member]
Real Estate Properties [Line Items]
Mortgage note payable	$ 41,000
Mortgage notes payable bearing interest rate	5.71%
Automatic extension period (in years)	1 year
Washington, D.C. [Member] | Unconsolidated Properties [Member]
Real Estate Properties [Line Items]
Number of real estate properties | Property	1
Atlanta, Georgia [Member] | Unconsolidated Properties [Member]
Real Estate Properties [Line Items]
Number of real estate properties | Property	3
Minimum [Member] | Unconsolidated Properties [Member]
Real Estate Properties [Line Items]
Equity method investment, ownership percentage	25.00%
Maximum [Member] | Unconsolidated Properties [Member]
Real Estate Properties [Line Items]
Equity method investment, ownership percentage	35.00%

Investments in Unconsolidated36

Investments in Unconsolidated Real Estate Entities - Summary of Financial Information for Apartment LLCs (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Real Estate Properties [Line Items]
Real estate assets, net of accumulated depreciation of $52,012 and $49,153 at June 30, 2015 and December 31, 2014, respectively	$ 2,151,111	$ 2,128,767
Total assets	2,314,032	2,311,798
Total liabilities	1,027,241	1,018,752
Members' equity	1,280,236	1,285,960	$ 1,173,934	$ 1,152,731
Total liabilities and members' equity	2,314,032	2,311,798
Unconsolidated Properties [Member]
Real Estate Properties [Line Items]
Real estate assets, net of accumulated depreciation of $52,012 and $49,153 at June 30, 2015 and December 31, 2014, respectively	207,785	208,493
Cash and other	7,261	5,490
Total assets	215,046	213,983
Mortgage notes payable	177,723	177,723
Other liabilities	4,721	3,445
Total liabilities	182,444	181,168
Members' equity	32,602	32,815
Total liabilities and members' equity	215,046	213,983
Company's equity investment in Apartment LLCs	$ (12,480)	$ (12,565)

Investments in Unconsolidated37

Investments in Unconsolidated Real Estate Entities - Summary of Financial Information for Apartment LLCs (Parenthetical) (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Real Estate Properties [Line Items]
Real estate assets, accumulated depreciation	$ 979,505	$ 937,310
Investments in unconsolidated real estate entities	16,437	16,624
Unconsolidated Properties [Member]
Real Estate Properties [Line Items]
Real estate assets, accumulated depreciation	52,012	49,153
Investments in unconsolidated real estate entities	$ 16,437	$ 16,624

Investments in Unconsolidated38

Investments in Unconsolidated Real Estate Entities - Schedule of Operation for Apartment LLCs (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues
Rental	$ 89,368	$ 89,414	$ 177,029	$ 177,442
Other property revenues	5,789	5,389	11,246	10,654
Total revenues	95,431	95,026	188,862	188,538
Expenses
Property operating and maintenance	41,512	41,795	81,635	82,391
Interest	7,753	10,433	15,846	21,677
Total expenses	67,712	68,096	134,475	136,578
Net income	19,610	47,719	39,553	61,955
Company's share of net income in Apartment LLCs	568	501	965	986
Unconsolidated Properties [Member]
Revenues
Rental	6,856	6,635	13,640	13,120
Other property revenues	538	489	993	928
Total revenues	7,394	7,124	14,633	14,048
Expenses
Property operating and maintenance	3,049	2,830	6,156	5,581
Depreciation and amortization	1,464	1,387	2,912	2,763
Interest	2,258	2,258	4,496	4,496
Total expenses	6,771	6,475	13,564	12,840
Net income	623	649	1,069	1,208
Company's share of net income in Apartment LLCs	$ 568	$ 501	$ 965	$ 986

Indebtedness - Schedule of Inde

Indebtedness - Schedule of Indebtedness (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Total	$ 891,004	$ 892,459
Senior Notes [Member]
Debt Instrument [Line Items]
Payment Terms	Int.
Interest Rate, minimum	3.375%
Interest Rate, maximum	4.75%
Unsecured debt	$ 400,000	400,000
Unsecured Bank Term Loan [Member]
Debt Instrument [Line Items]
Payment Terms	Int.
Interest Rate, spread over LIBOR	1.15%
Debt instrument, Maturity	2,020
Unsecured debt	$ 300,000	300,000
Secured Mortgage Notes [Member]
Debt Instrument [Line Items]
Payment Terms	Prin. and Int.
Interest Rate	5.99%
Debt instrument, Maturity	2,019
Secured debt	$ 191,004	$ 192,459
Minimum [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, Maturity	2,017
Maximum [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, Maturity	2,022

Indebtedness - Schedule of In40

Indebtedness - Schedule of Indebtedness (Parenthetical) (Detail) - Jun. 30, 2015	Total
Unsecured Bank Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, Maturity	2,020
Interest Rate Swap [Member] | Unsecured Bank Term Loan [Member]
Debt Instrument [Line Items]
Effective blended interest rate	2.69%
Minimum [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, Maturity	2,017
Maximum [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, Maturity	2,022

Indebtedness - Schedule of Aggr

Indebtedness - Schedule of Aggregate Maturities of Indebtedness (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Debt Disclosure [Abstract]
Remainder of 2015	$ 1,467
2,016	3,071
2,017	153,296
2,018	3,502
2,019	179,668
Thereafter	550,000
Total	$ 891,004	$ 892,459

Indebtedness (Debt issuances an

Indebtedness (Debt issuances and retirements) - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	May. 31, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Debt Instrument [Line Items]
Net gain (loss) on extinguishment of indebtedness		$ 0	$ (4,287)	$ (197)	$ (4,287)
Secured Mortgage Notes [Member] | Dallas, Texas [Member]
Debt Instrument [Line Items]
Prepaid secured mortgage indebtedness	$ 120,000
Net gain (loss) on extinguishment of indebtedness			$ (4,287)		$ (4,287)

Indebtedness (Unsecured lines o

Indebtedness (Unsecured lines of credit) - Additional Information (Detail) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Jan. 31, 2015USD ($)OptionPlans	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)
Debt Instrument [Line Items]
Letters of credit issued		$ 122		$ 122
Incurred fees and expenses				4,008
Net gain (loss) on extinguishment of indebtedness		0	$ (4,287)	(197)	$ (4,287)
Cash Management Line [Member]
Debt Instrument [Line Items]
Line of credit facility, current borrowing capacity	$ 30,000	30,000		30,000
Number of extension options | OptionPlans	1
Time period extension option	1 year
Lines of Credit [Member]
Debt Instrument [Line Items]
Line of credit facility, current borrowing capacity		$ 300,000		$ 300,000
Interest Rate, spread over LIBOR				1.05%
Line of credit facility annual facility fees percentage				0.20%
Interest rate based on credit ratings ranges, minimum				0.875%
Interest rate based on credit ratings ranges, maximum				1.55%
Facility fee rate based on credit ratings range, minimum				0.125%
Facility fee rate based on credit ratings range, maximum				0.30%
Line of credit facility, competitive bid option for short-term funds, percentage				50.00%

Indebtedness (Unsecured term lo

Indebtedness (Unsecured term loan) - Additional Information (Detail) - Jun. 30, 2015 - Unsecured Bank Term Loan [Member] - USD ($) $ in Thousands	Total
Debt Instrument [Line Items]
Term loan facility, borrowing capacity	$ 300,000
Interest Rate, spread over LIBOR	1.15%
Interest rate based on credit ratings ranges, minimum	0.90%
Interest rate based on credit ratings ranges, maximum	1.85%
Interest Rate Swap [Member]
Debt Instrument [Line Items]
Interest rate paid under the Term Loan	1.54%
Effective blended interest rate	2.69%

Indebtedness (Debt compliance a

Indebtedness (Debt compliance and other) - Additional Information (Detail) - 6 months ended Jun. 30, 2015	Total
Debt Disclosure [Abstract]
Coverage's ratio	1.5
Company's ratio	2
Unencumbered assets to unsecured debt	1.5
Leverage ratio	60.00%
Total secured debt to total asset value	40.00%
Line of credit facility, covenant terms	The Company's Syndicated Line, Cash Management Line, Term Loan and senior unsecured notes contain customary restrictions, representations, covenants and events of default and require the Company to meet certain financial covenants. Debt service and fixed charge coverage covenants require the Company to maintain coverages of a minimum of 1.5 to 1.0, as defined in applicable debt arrangements.

Equity and Noncontrolling Int46

Equity and Noncontrolling Interests (Common stock) - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Equity [Abstract]
Repurchased shares of common stock, shares	0	0
Stock repurchase program, authorized amount			$ 200,000

Equity and Noncontrolling Int47

Equity and Noncontrolling Interests (Noncontrolling interests) - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Equity [Abstract]
Redeemable common units	$ 6,555	$ 7,086
Noncontrolling interests in the Operating Partnership, net book value	$ 6,555	$ 7,086

Equity and Noncontrolling Int48

Equity and Noncontrolling Interests - Schedule of Redeemable Common Units (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Equity And Noncontrolling Interests [Line Items]
Redeemable common units, beginning of period	$ 7,086
Comprehensive income	38,760	$ 60,610
Stock-based compensation	2,625	1,934
Distributions to common unitholders	(45,858)	(41,313)
Adjustment to redemption value of redeemable common units	517	(1,057)
Redeemable common units, end of period	6,555
Redeemable Common Units [Member]
Equity And Noncontrolling Interests [Line Items]
Redeemable common units, beginning of period	7,086	6,121
Comprehensive income	81	147
Adjustment for ownership interest of redeemable common units	0	7
Stock-based compensation	6	5
Distributions to common unitholders	(101)	(102)
Adjustment to redemption value of redeemable common units	(517)	1,057
Redeemable common units, end of period	$ 6,555	$ 7,235

Company Earnings Per Share - Sc

Company Earnings Per Share - Schedule of Computation of Basic and Diluted Net Income Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share [Abstract]
Net income	$ 19,651	$ 47,991	$ 39,636	$ 62,244
Noncontrolling interests - consolidated real estate entities	0	(154)	0	(138)
Noncontrolling interests - Operating Partnership	(41)	(118)	(83)	(151)
Distributions to preferred unitholders	(922)	(922)	(1,844)	(1,844)
Unvested restricted stock (allocation of earnings)	(46)	(110)	(86)	(132)
Net income available to common shareholders, adjusted	$ 18,642	$ 46,687	$ 37,623	$ 59,979
Weighted average shares outstanding - basic	54,455	54,223	54,452	54,199
Dilutive shares from stock options	14	112	15	115
Weighted average shares outstanding - diluted	54,469	54,335	54,467	54,314
Basic	$ 0.34	$ 0.86	$ 0.69	$ 1.11
Diluted	$ 0.34	$ 0.86	$ 0.69	$ 1.10

Company Earnings Per Share - Ad

Company Earnings Per Share - Additional Information (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Gross Antidilutive [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive stock options to purchase common stock	32	62	28	63

Operating Partnership Earnings

Operating Partnership Earnings Per Share - Schedule of Computation of Basic and Diluted Net Income Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income	$ 19,651	$ 47,991	$ 39,636	$ 62,244
Noncontrolling interests - consolidated real estate entities	0	(154)	0	(138)
Preferred unit distributions	(922)	(922)	(1,844)	(1,844)
Unvested restricted stock (allocation of earnings)	(46)	(110)	(86)	(132)
Net income available to common shareholders, adjusted	$ 18,642	$ 46,687	$ 37,623	$ 59,979
Weighted average units outstanding - basic	54,455	54,223	54,452	54,199
Dilutive units from stock options	14	112	15	115
Weighted average units outstanding - diluted	54,469	54,335	54,467	54,314
Basic	$ 0.34	$ 0.86	$ 0.69	$ 1.11
Diluted	$ 0.34	$ 0.86	$ 0.69	$ 1.10
Post Apartment Homes, L.P. [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income	$ 19,651	$ 47,991	$ 39,636	$ 62,244
Noncontrolling interests - consolidated real estate entities	0	(154)	0	(138)
Preferred unit distributions	(922)	(922)	(1,844)	(1,844)
Unvested restricted stock (allocation of earnings)	(46)	(110)	(86)	(132)
Net income available to common shareholders, adjusted	$ 18,683	$ 46,805	$ 37,706	$ 60,130
Weighted average units outstanding - basic	54,576	54,358	54,573	54,334
Dilutive units from stock options	14	112	15	115
Weighted average units outstanding - diluted	54,590	54,470	54,588	54,449
Basic	$ 0.34	$ 0.86	$ 0.69	$ 1.11
Diluted	$ 0.34	$ 0.86	$ 0.69	$ 1.10

Operating Partnership Earning52

Operating Partnership Earnings Per Unit - Additional Information (Detail) - Gross Antidilutive [Member] - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive stock options to purchase common stock	32	62	28	63
Post Apartment Homes, L.P. [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive stock options to purchase common stock	32	62	28	63

Fair Value Measures and Other53

Fair Value Measures and Other Financial Instruments (Real estate assets) - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Fair Value, Inputs, Level 3 [Member] | Market Approach Valuation Technique [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Impairment charges	$ 0	$ 0	$ 0	$ 0

Fair Value Measures and Other54

Fair Value Measures and Other Financial Instruments (Derivatives and other financial instruments) - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2015USD ($)Agreement	Dec. 31, 2014USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Accumulated comprehensive income to interest expense, future periods	$ 3,456,000
Termination payment	4,484,000
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Net liabilities	$ 4,480,000	$ 3,685,000
Interest Rate Swap [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of interest rate swap agreements | Agreement	3
Three Interest Rate Swap [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notional amounts	$ 230,000,000
Derivative, fixed interest rate	1.55%
Three Interest Rate Swap [Member] | London Interbank Offered Rate (LIBOR) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Counterparty paying	Counterparties paying the Company the floating one-month LIBOR rate
Fourth Interest Rate Swap [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notional amounts	$ 70,000,000
Derivative, fixed interest rate	1.50%
Fourth Interest Rate Swap [Member] | London Interbank Offered Rate (LIBOR) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Counterparty paying	Counterparty paying the Company the floating one-month LIBOR rate
Unsecured Bank Term Loan [Member] | Interest Rate Swap [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Effective blended interest rate	2.69%

Fair Value Measures and Other55

Fair Value Measures and Other Financial Instruments - Schedule of Effect of Interest Rate Swaps Designated as Cash Flow Hedges (Detail) - Cash Flow Hedging [Member] - Interest Rate Swap [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in other comprehensive income	$ (273)	$ (2,553)	$ (2,844)	$ (3,563)
Loss reclassified from accumulated other comprehensive income (loss) into interest expense	$ (1,026)	$ (1,046)	$ (2,049)	$ (2,076)

Fair Value Measures and Financi

Fair Value Measures and Financial Instruments (Other financial instruments) - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Fixed Rate Debt [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt	$ 604,328	$ 620,641
Carrying value of debt	591,004	592,459
Variable Rate Debt [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt	300,000	304,983
Carrying value of debt	$ 300,000	$ 300,000

Segment Information - Additiona

Segment Information - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting [Abstract]
Stabilized occupancy benchmark percentage	95.00%	95.00%
Number of years to achieve stabilized occupancy subsequent to completion of construction	1 year	1 year

Segment Information - Schedule

Segment Information - Schedule of Segment's Contribution to Consolidated Revenues and Net Operating Income (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting Information [Line Items]
Other	$ 274	$ 223	$ 587	$ 442
Revenues	95,431	95,026	188,862	188,538
Consolidated property net operating income	53,645	53,008	106,640	105,705
Interest income	43	4	124	16
Other revenues	274	223	587	442
Depreciation	(21,418)	(20,829)	(42,675)	(42,596)
Interest expense	(7,753)	(10,433)	(15,846)	(21,677)
Amortization of deferred financing costs	(433)	(620)	(882)	(1,265)
General and administrative	(4,353)	(3,966)	(9,367)	(8,094)
Investment and development	(275)	(794)	(510)	(1,605)
Other investment costs	(154)	(210)	(288)	(483)
Other expenses	0	(502)	0	(1,409)
Equity in income of unconsolidated real estate entities, net	568	501	965	986
Gains on sales of real estate assets, net	(298)	36,092	1,475	36,902
Other income (expense), net	(195)	(196)	(390)	(391)
Net loss on extinguishment of indebtedness	0	(4,287)	(197)	(4,287)
Net income	19,651	47,991	39,636	62,244
Fully Stabilized Communities [Member]
Segment Reporting Information [Line Items]
Revenues	84,401	82,109	167,098	162,899
Consolidated property net operating income	50,981	49,547	101,312	99,293
Newly Stabilized Communities [Member]
Segment Reporting Information [Line Items]
Revenues	4,260	2,419	8,419	4,277
Consolidated property net operating income	2,683	1,211	5,290	1,985
Lease Up Communities [Member]
Segment Reporting Information [Line Items]
Revenues	1,096	213	2,118	233
Consolidated property net operating income	376	(168)	902	(268)
Held For Sale And Sold Communities [Member]
Segment Reporting Information [Line Items]
Revenues	0	4,820	0	10,689
Consolidated property net operating income	0	2,574	0	5,346
Other Property Segments, Including Corporate Management Expenses [Member]
Segment Reporting Information [Line Items]
Revenues	5,400	5,242	10,640	9,998
Consolidated property net operating income	$ (395)	$ (156)	$ (864)	$ (651)

Stock-Based Compensation Plan59

Stock-Based Compensation Plans (Incentive stock plans) - Additional Information (Detail) - Jun. 30, 2015 shares in Thousands	shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock reserved for issuance	3,469
Stock grants counted against the total shares for every share issued	2.7
Stock-based compensation arrangement maximum assumption expected period, years	10 years
Description and terms of 2003 incentive stock plan	Incentive stock awards are granted under the Company’s 2003 Incentive Stock Plan, as amended and restated in October 2008 (the “2003 Stock Plan”). Under the 2003 Stock Plan, an aggregate of 3,469 shares of common stock were reserved for issuance. Of this amount, stock grants count against the total shares available under the 2003 Stock Plan as 2.7 shares for every one share issued, while options (and stock appreciation rights (“SAR”) settled in shares) count against the total shares available as one share for every one share issued on the exercise of an option (or SAR). The exercise price of each option granted under the 2003 Stock Plan may not be less than the market price of the Company’s common stock on the date of the option grant and all options may have a maximum life of ten years. Participants receiving restricted stock grants are generally eligible to vote such shares and receive dividends on such shares. Substantially all stock option and restricted stock grants are subject to annual vesting provisions (generally three to five years) as determined by the compensation committee overseeing the 2003 Stock Plan.
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award vesting period, (in years)	3 years
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award vesting period, (in years)	5 years

Stock-Based Compensation Plan60

Stock-Based Compensation Plans - Schedule of Assumptions Used in Black-Scholes Option-Pricing Model (Detail)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Dividend yield	2.70%	2.80%
Expected volatility	42.80%	43.00%
Risk-free interest rate	1.40%	1.80%
Expected option term (years)	6 years	6 years

Stock-Based Compensation Plan61

Stock-Based Compensation Plans (Restricted stock) - Additional Information (Detail) - Restricted Stock [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense relating to restricted stock	$ 766	$ 818	$ 2,233	$ 1,588
Unrecognized compensation cost related to unvested stock options	$ 4,866		$ 4,866
Unrecognized compensation costs, weighted average period of recognition, years			2 years

Stock-Based Compensation Plan62

Stock-Based Compensation Plans - Summary of Activity Related to Company's Restricted Stock (Detail) - Restricted Stock [Member] - $ / shares shares in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested shares, beginning of period	76	75
Granted, Shares	68	55
Vested, Shares	(8)	(1)
Unvested shares, end of period	136	129
Weighted-Avg. Grant-Date Fair Value, Unvested shares, beginning of period	$ 49	$ 48
Weighted-Avg. Grant-Date Fair Value, Granted	60	47
Weighted-Avg. Grant-Date Fair Value, Vested	54	12
Weighted-Avg. Grant-Date Fair Value, Unvested Shares, end of period	$ 54	$ 48

Stock-Based Compensation Plan63

Stock-Based Compensation Plans - Summary of Activity Related to Company's Restricted Stock (Parenthetical) (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Total value of the restricted share grants	$ 4,123	$ 2,566

Stock-Based Compensation Plan64

Stock-Based Compensation Plans (Stock options) - Additional Information (Detail) - Stock Options [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total compensation expense relating to stock options	$ 110	$ 134	$ 288	$ 273
Unrecognized compensation cost related to unvested stock options	$ 727		$ 727
Unrecognized compensation costs, weighted average period of recognition, years			2 years 1 month 6 days
Intrinsic value of stock options exercised			$ 548	$ 3,160

Stock-Based Compensation Plan65

Stock-Based Compensation Plans - Summary of Stock Option Activity Under All Plans (Detail) - Stock Options [Member] - $ / shares shares in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding, beginning of period, Shares	148	539
Granted, Shares	28	35
Exercised, Shares	(38)	(201)
Options outstanding, end of period, Shares	138	373
Options exercisable, end of period, Shares	77	311
Options vested and expected to vest, end of period, Shares	135	371
Weighted average fair value of options granted during the period	$ 19.49	$ 15.21
Options outstanding, beginning of period, Exercise Price	46	36
Granted, Exercise Price	60	47
Exercised, Exercise Price	48	34
Options outstanding, end of period, Exercise Price	49	38
Options exercisable, end of period, Exercise Price	45	36
Options vested and expected to vest, end of period, Exercise Price	$ 49	$ 38

Stock-Based Compensation Plan66

Stock-Based Compensation Plans - Summary of Stock Option Activity Under All Plans (Parenthetical) (Detail) - Jun. 30, 2015 - USD ($) $ in Thousands	Total
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Aggregate intrinsic value of stock options outstanding	$ 935
Aggregate intrinsic value of stock options exercisable	725
Aggregate intrinsic values of stock options expected to vest	$ 925
Weighted average remaining contractual lives of stock options outstanding, years	7 years
Weighted average remaining contractual lives of stock options exercisable, years	5 years 7 months 6 days
Weighted average remaining contractual lives of stock options expected to vest, years	7 years

Stock-Based Compensation Plan67

Stock-Based Compensation Plans - Schedule of Outstanding Options into Two Ranges, Based on Exercise Prices (Detail) - Jun. 30, 2015 - $ / shares shares in Thousands	Total
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of exercise prices remaining contractual life, outstanding	7 years
Range of exercise prices shares, outstanding	138
Range of exercise prices weighted average exercise price, outstanding	$ 49
Range of exercise prices shares, exercisable	77
Options Exercisable, Weighted Avg. Exercise Price	$ 45
Outstanding Options with Range Based Exercise Prices Set One [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price range, lower range limit	37.04
Exercise price range, upper range limit	$ 46.93
Range of exercise prices remaining contractual life, outstanding	6 years 3 months 18 days
Range of exercise prices shares, outstanding	80
Range of exercise prices weighted average exercise price, outstanding	$ 44
Range of exercise prices shares, exercisable	56
Options Exercisable, Weighted Avg. Exercise Price	$ 43
Outstanding Options with Range Based Exercise Prices Set Two [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price range, lower range limit	48
Exercise price range, upper range limit	$ 60.40
Range of exercise prices remaining contractual life, outstanding	8 years
Range of exercise prices shares, outstanding	58
Range of exercise prices weighted average exercise price, outstanding	$ 55
Range of exercise prices shares, exercisable	21
Options Exercisable, Weighted Avg. Exercise Price	$ 50

Stock-Based Compensation Plan68

Stock-Based Compensation Plans (Employee stock purchase plan) - Additional Information (Detail) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Maximum number of shares issuable under the ESPP	250		250
Percentage of share purchase price			85.00%
Discount on the share purchases			15.00%
Employee stock purchase plan description, compensation expense	$ 56	$ 39	$ 110	$ 78

Other Expenses - Additional Inf

Other Expenses - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Component Of Operating Cost And Expense [Line Items]
Other expenses	$ 0	$ 502	$ 0	$ 1,409
Software Systems [Member]
Component Of Operating Cost And Expense [Line Items]
Other expenses		$ 502		659
Natural Disasters and Other Casualty Events [Member]
Component Of Operating Cost And Expense [Line Items]
Other expenses				$ 750