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Earnings Per Share and Earnings Per Unit | 12 Months Ended
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Dec. 31, 2021
Earnings Per Share [Abstract] |
Earnings Per Share And Earnings Per Unit |
11. | 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):
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Numerator for net income per share – basic: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 1,396,714 |  |  | $ | 962,501 |  |  | $ | 1,009,708 |
Allocation to Noncontrolling Interests – Operating Partnership |  |  | (45,900 | ) |  |  | (34,010 | ) |  |  | (36,034 | )
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties |  |  | (17,964 | ) |  |  | (14,855 | ) |  |  | (3,297 | )
Preferred distributions |  |  | (3,090 | ) |  |  | (3,090 | ) |  |  | (3,090 | )
Numerator for net income per share – basic |  | $ | 1,329,760 |  |  | $ | 910,546 |  |  | $ | 967,287 |
Numerator for net income per share – diluted: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 1,396,714 |  |  | $ | 962,501 |  |  | $ | 1,009,708 |
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties |  |  | (17,964 | ) |  |  | (14,855 | ) |  |  | (3,297 | )
Preferred distributions |  |  | (3,090 | ) |  |  | (3,090 | ) |  |  | (3,090 | )
Numerator for net income per share – diluted |  | $ | 1,375,660 |  |  | $ | 944,556 |  |  | $ | 1,003,321 |
Denominator for net income per share – basic and diluted: |  |  |  |  |  |  |  |  |  |  |  |
Denominator for net income per share – basic |  |  | 373,833 |  |  |  | 371,791 |  |  |  | 370,461 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |
OP Units |  |  | 12,263 |  |  |  | 13,003 |  |  |  | 12,907 |
Long-term compensation shares/units |  |  | 1,924 |  |  |  | 1,080 |  |  |  | 2,965 |
ATM forward sales |  |  | 69 |  |  |  | — |  |  |  | — |
Denominator for net income per share – diluted |  |  | 388,089 |  |  |  | 385,874 |  |  |  | 386,333 |
Net income per share – basic |  | $ | 3.56 |  |  | $ | 2.45 |  |  | $ | 2.61 |
Net income per share – diluted |  | $ | 3.54 |  |  | $ | 2.45 |  |  | $ | 2.60 |
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):
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Numerator for net income per Unit – basic and diluted: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 1,396,714 |  |  | $ | 962,501 |  |  | $ | 1,009,708 |
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties |  |  | (17,964 | ) |  |  | (14,855 | ) |  |  | (3,297 | )
Allocation to Preference Units |  |  | (3,090 | ) |  |  | (3,090 | ) |  |  | (3,090 | )
Numerator for net income per Unit – basic and diluted |  | $ | 1,375,660 |  |  | $ | 944,556 |  |  | $ | 1,003,321 |
Denominator for net income per Unit – basic and diluted: |  |  |  |  |  |  |  |  |  |  |  |
Denominator for net income per Unit – basic |  |  | 386,096 |  |  |  | 384,794 |  |  |  | 383,368 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |
Dilution for Units issuable upon assumed exercise/vesting of the Company’s long-term compensation shares/units |  |  | 1,924 |  |  |  | 1,080 |  |  |  | 2,965 |
ATM forward sales |  |  | 69 |  |  |  | — |  |  |  | — |
Denominator for net income per Unit – diluted |  |  | 388,089 |  |  |  | 385,874 |  |  |  | 386,333 |
Net income per Unit – basic |  | $ | 3.56 |  |  | $ | 2.45 |  |  | $ | 2.61 |
Net income per Unit – diluted |  | $ | 3.54 |  |  | $ | 2.45 |  |  | $ | 2.60 |

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