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Earnings Per Share and Earnings Per Unit | 9 Months Ended
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Sep. 30, 2019
Earnings Per Share [Abstract] |
Earnings Per Share And Earnings Per Unit |
1 1. | Earnings Per Share and Earnings Per Unit
Equity Residential The following tables set forth the computation of net income per share – basic and net income per share – diluted for the Company (amounts in thousands except per share amounts):
|  | Nine Months Ended September 30, |  |  | Quarter Ended September 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Numerator for net income per share – basic: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 708,402 |  |  | $ | 562,804 |  |  | $ | 277,846 |  |  | $ | 223,846 |
Allocation to Noncontrolling Interests – Operating Partnership |  |  | (25,339 | ) |  |  | (20,517 | ) |  |  | (9,910 | ) |  |  | (8,159 | )
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties |  |  | (2,450 | ) |  |  | (1,939 | ) |  |  | (830 | ) |  |  | (750 | )
Preferred distributions |  |  | (2,318 | ) |  |  | (2,318 | ) |  |  | (773 | ) |  |  | (773 | )
Numerator for net income per share – basic |  | $ | 678,295 |  |  | $ | 538,030 |  |  | $ | 266,333 |  |  | $ | 214,164 |
Numerator for net income per share – diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 708,402 |  |  | $ | 562,804 |  |  | $ | 277,846 |  |  | $ | 223,846 |
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties |  |  | (2,450 | ) |  |  | (1,939 | ) |  |  | (830 | ) |  |  | (750 | )
Preferred distributions |  |  | (2,318 | ) |  |  | (2,318 | ) |  |  | (773 | ) |  |  | (773 | )
Numerator for net income per share – diluted |  | $ | 703,634 |  |  | $ | 558,547 |  |  | $ | 276,243 |  |  | $ | 222,323 |
Denominator for net income per share – basic and diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Denominator for net income per share – basic |  |  | 370,227 |  |  |  | 367,920 |  |  |  | 370,768 |  |  |  | 368,028 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
OP Units |  |  | 12,915 |  |  |  | 12,871 |  |  |  | 12,941 |  |  |  | 12,884 |
Long-term compensation shares/units |  |  | 3,035 |  |  |  | 2,642 |  |  |  | 3,187 |  |  |  | 2,972 |
Denominator for net income per share – diluted |  |  | 386,177 |  |  |  | 383,433 |  |  |  | 386,896 |  |  |  | 383,884 |
Net income per share – basic |  | $ | 1.83 |  |  | $ | 1.46 |  |  | $ | 0.72 |  |  | $ | 0.58 |
Net income per share – diluted |  | $ | 1.82 |  |  | $ | 1.46 |  |  | $ | 0.71 |  |  | $ | 0.58 |
ERP Operating Limited Partnership The following tables set forth the computation of net income per Unit – basic and net income per Unit – diluted for the Operating Partnership (amounts in thousands except per Unit amounts):
|  | Nine Months Ended September 30, |  |  | Quarter Ended September 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Numerator for net income per Unit – basic and diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 708,402 |  |  | $ | 562,804 |  |  | $ | 277,846 |  |  | $ | 223,846 |
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties |  |  | (2,450 | ) |  |  | (1,939 | ) |  |  | (830 | ) |  |  | (750 | )
Allocation to Preference Units |  |  | (2,318 | ) |  |  | (2,318 | ) |  |  | (773 | ) |  |  | (773 | )
Numerator for net income per Unit – basic and diluted |  | $ | 703,634 |  |  | $ | 558,547 |  |  | $ | 276,243 |  |  | $ | 222,323 |
Denominator for net income per Unit – basic and diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Denominator for net income per Unit – basic |  |  | 383,142 |  |  |  | 380,791 |  |  |  | 383,709 |  |  |  | 380,912 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dilution for Units issuable upon assumed exercise/vesting of the Company’s long-term compensation shares/units |  |  | 3,035 |  |  |  | 2,642 |  |  |  | 3,187 |  |  |  | 2,972 |
Denominator for net income per Unit – diluted |  |  | 386,177 |  |  |  | 383,433 |  |  |  | 386,896 |  |  |  | 383,884 |
Net income per Unit – basic |  | $ | 1.83 |  |  | $ | 1.46 |  |  | $ | 0.72 |  |  | $ | 0.58 |
Net income per Unit – diluted |  | $ | 1.82 |  |  | $ | 1.46 |  |  | $ | 0.71 |  |  | $ | 0.58 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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