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Earnings Per Share and Earnings Per Unit | 6 Months Ended
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Jun. 30, 2020
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):
|  | Six Months Ended June 30, |  |  | Quarter Ended June 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Numerator for net income per share – basic: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 604,152 |  |  | $ | 430,556 |  |  | $ | 271,481 |  |  | $ | 321,299 |
Allocation to Noncontrolling Interests – Operating Partnership |  |  | (21,248 | ) |  |  | (15,429 | ) |  |  | (9,713 | ) |  |  | (11,510 | )
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties |  |  | (13,410 | ) |  |  | (1,620 | ) |  |  | (880 | ) |  |  | (821 | )
Preferred distributions |  |  | (1,545 | ) |  |  | (1,545 | ) |  |  | (772 | ) |  |  | (772 | )
Numerator for net income per share – basic |  | $ | 567,949 |  |  | $ | 411,962 |  |  | $ | 260,116 |  |  | $ | 308,196 |
Numerator for net income per share – diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 604,152 |  |  | $ | 430,556 |  |  | $ | 271,481 |  |  | $ | 321,299 |
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties |  |  | (13,410 | ) |  |  | (1,620 | ) |  |  | (880 | ) |  |  | (821 | )
Preferred distributions |  |  | (1,545 | ) |  |  | (1,545 | ) |  |  | (772 | ) |  |  | (772 | )
Numerator for net income per share – diluted |  | $ | 589,197 |  |  | $ | 427,391 |  |  | $ | 269,829 |  |  | $ | 319,706 |
Denominator for net income per share – basic and diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Denominator for net income per share – basic |  |  | 371,689 |  |  |  | 369,952 |  |  |  | 371,795 |  |  |  | 370,342 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
OP Units |  |  | 13,013 |  |  |  | 12,902 |  |  |  | 13,023 |  |  |  | 12,885 |
Long-term compensation shares/units |  |  | 1,570 |  |  |  | 2,790 |  |  |  | 1,095 |  |  |  | 2,880 |
Denominator for net income per share – diluted |  |  | 386,272 |  |  |  | 385,644 |  |  |  | 385,913 |  |  |  | 386,107 |
Net income per share – basic |  | $ | 1.53 |  |  | $ | 1.11 |  |  | $ | 0.70 |  |  | $ | 0.83 |
Net income per share – diluted |  | $ | 1.53 |  |  | $ | 1.11 |  |  | $ | 0.70 |  |  | $ | 0.83 |
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):
|  | Six Months Ended June 30, |  |  | Quarter Ended June 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Numerator for net income per Unit – basic and diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 604,152 |  |  | $ | 430,556 |  |  | $ | 271,481 |  |  | $ | 321,299 |
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties |  |  | (13,410 | ) |  |  | (1,620 | ) |  |  | (880 | ) |  |  | (821 | )
Allocation to Preference Units |  |  | (1,545 | ) |  |  | (1,545 | ) |  |  | (772 | ) |  |  | (772 | )
Numerator for net income per Unit – basic and diluted |  | $ | 589,197 |  |  | $ | 427,391 |  |  | $ | 269,829 |  |  | $ | 319,706 |
Denominator for net income per Unit – basic and diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Denominator for net income per Unit – basic |  |  | 384,702 |  |  |  | 382,854 |  |  |  | 384,818 |  |  |  | 383,227 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dilution for Units issuable upon assumed exercise/vesting of the Company’s long-term compensation shares/units |  |  | 1,570 |  |  |  | 2,790 |  |  |  | 1,095 |  |  |  | 2,880 |
Denominator for net income per Unit – diluted |  |  | 386,272 |  |  |  | 385,644 |  |  |  | 385,913 |  |  |  | 386,107 |
Net income per Unit – basic |  | $ | 1.53 |  |  | $ | 1.11 |  |  | $ | 0.70 |  |  | $ | 0.83 |
Net income per Unit – diluted |  | $ | 1.53 |  |  | $ | 1.11 |  |  | $ | 0.70 |  |  | $ | 0.83 |

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