Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2018

19.	Quarterly Financial Data (Unaudited)

Equity Residential

The following unaudited quarterly data has been prepared on the basis of a December 31 year-end. Amounts are in thousands, except for per share amounts.

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2018	3/31		6/30		9/30		12/31
Total revenues	$	633,016	$	639,808	$	652,867	$	652,743
Operating income		196,869		217,654		224,731		219,306
Net income *		220,548		118,410		223,846		122,388
Net income available to Common Shares		211,036		112,830		214,164		116,415
Earnings per share – basic:
Net income available to Common Shares	$	0.57	$	0.31	$	0.58	$	0.32
Weighted average Common Shares outstanding		367,800		367,930		368,028		368,445
Earnings per share – diluted:
Net income available to Common Shares	$	0.57	$	0.31	$	0.58	$	0.31
Weighted average Common Shares outstanding		383,018		383,423		383,884		384,296

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2017	3/31		6/30		9/30		12/31
Total revenues	$	604,100	$	612,480	$	624,122	$	630,704
Operating income		204,371		210,550		217,786		214,764
Net income *		149,941		204,160		144,196		130,084
Net income available to Common Shares		142,969		195,268		137,457		124,669
Earnings per share – basic:
Net income available to Common Shares	$	0.39	$	0.53	$	0.37	$	0.34
Weighted average Common Shares outstanding		366,605		366,820		366,996		367,442
Earnings per share – diluted:
Net income available to Common Shares	$	0.39	$	0.53	$	0.37	$	0.34
Weighted average Common Shares outstanding		382,280		382,692		382,945		383,105

* The Company did not have any discontinued operations, extraordinary items or cumulative effect of change in accounting principle during the years ended December 31, 2018 and 2017. Therefore, income from continuing operations and income before extraordinary items and cumulative effect of change in accounting principle are not shown as they were both equal to the net income amounts disclosed above.

ERP Operating Limited Partnership

The following unaudited quarterly data has been prepared on the basis of a December 31 year-end. Amounts are in thousands, except for per Unit amounts.

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2018	3/31		6/30		9/30		12/31
Total revenues	$	633,016	$	639,808	$	652,867	$	652,743
Operating income		196,869		217,654		224,731		219,306
Net income *		220,548		118,410		223,846		122,388
Net income available to Units		219,095		117,129		222,323		120,837
Earnings per Unit – basic:
Net income available to Units	$	0.57	$	0.31	$	0.58	$	0.32
Weighted average Units outstanding		380,663		380,795		380,912		381,306
Earnings per Unit – diluted:
Net income available to Units	$	0.57	$	0.31	$	0.58	$	0.31
Weighted average Units outstanding		383,018		383,423		383,884		384,296

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2017	3/31		6/30		9/30		12/31
Total revenues	$	604,100	$	612,480	$	624,122	$	630,704
Operating income		204,371		210,550		217,786		214,764
Net income *		149,941		204,160		144,196		130,084
Net income available to Units		148,380		202,622		142,623		129,342
Earnings per Unit – basic:
Net income available to Units	$	0.39	$	0.53	$	0.37	$	0.34
Weighted average Units outstanding		379,504		379,733		379,906		380,325
Earnings per Unit – diluted:
Net income available to Units	$	0.39	$	0.53	$	0.37	$	0.34
Weighted average Units outstanding		382,280		382,692		382,945		383,105

* The Operating Partnership did not have any discontinued operations, extraordinary items or cumulative effect of change in accounting principle during the years ended December 31, 2018 and 2017. Therefore, income from continuing operations and income before extraordinary items and cumulative effect of change in accounting principle are not shown as they were both equal to the net income amounts disclosed above.