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Earnings Per Share and Earnings Per Unit | 12 Months Ended
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Dec. 31, 2023
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, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Numerator for net income per share – basic: |  |  |  |  |  |  |  |  |
Net income |  | $ | 868,488 |  |  | $ | 806,995 |  |  | $ | 1,396,714 |
Allocation to Noncontrolling Interests – Operating Partnership |  |  | (26,710 | ) |  |  | (26,310 | ) |  |  | (45,900 | )
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties |  |  | (6,340 | ) |  |  | (3,774 | ) |  |  | (17,964 | )
Preferred distributions |  |  | (3,090 | ) |  |  | (3,090 | ) |  |  | (3,090 | )
Numerator for net income per share – basic |  | $ | 832,348 |  |  | $ | 773,821 |  |  | $ | 1,329,760 |
Numerator for net income per share – diluted: |  |  |  |  |  |  |  |  |
Net income |  | $ | 868,488 |  |  | $ | 806,995 |  |  | $ | 1,396,714 |
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties |  |  | (6,340 | ) |  |  | (3,774 | ) |  |  | (17,964 | )
Preferred distributions |  |  | (3,090 | ) |  |  | (3,090 | ) |  |  | (3,090 | )
Numerator for net income per share – diluted |  | $ | 859,058 |  |  | $ | 800,131 |  |  | $ | 1,375,660 |
Denominator for net income per share – basic and diluted: |  |  |  |  |  |  |  |  |
Denominator for net income per share – basic |  |  | 378,773 |  |  |  | 376,209 |  |  |  | 373,833 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |
OP Units |  |  | 11,181 |  |  |  | 11,836 |  |  |  | 12,263 |
Long-term compensation shares/units |  |  | 943 |  |  |  | 1,402 |  |  |  | 1,924 |
ATM forward sales |  |  | — |  |  |  | 3 |  |  |  | 69 |
Denominator for net income per share – diluted |  |  | 390,897 |  |  |  | 389,450 |  |  |  | 388,089 |
Net income per share – basic |  | $ | 2.20 |  |  | $ | 2.06 |  |  | $ | 3.56 |
Net income per share – diluted |  | $ | 2.20 |  |  | $ | 2.05 |  |  | $ | 3.54 |
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, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Numerator for net income per Unit – basic and diluted: |  |  |  |  |  |  |  |  |
Net income |  | $ | 868,488 |  |  | $ | 806,995 |  |  | $ | 1,396,714 |
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties |  |  | (6,340 | ) |  |  | (3,774 | ) |  |  | (17,964 | )
Allocation to Preference Units |  |  | (3,090 | ) |  |  | (3,090 | ) |  |  | (3,090 | )
Numerator for net income per Unit – basic and diluted |  | $ | 859,058 |  |  | $ | 800,131 |  |  | $ | 1,375,660 |
Denominator for net income per Unit – basic and diluted: |  |  |  |  |  |  |  |  |
Denominator for net income per Unit – basic |  |  | 389,954 |  |  |  | 388,045 |  |  |  | 386,096 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |
Dilution for Units issuable upon assumed exercise/vesting of the Company’s long-term compensation shares/units |  |  | 943 |  |  |  | 1,402 |  |  |  | 1,924 |
ATM forward sales |  |  | — |  |  |  | 3 |  |  |  | 69 |
Denominator for net income per Unit – diluted |  |  | 390,897 |  |  |  | 389,450 |  |  |  | 388,089 |
Net income per Unit – basic |  | $ | 2.20 |  |  | $ | 2.06 |  |  | $ | 3.56 |
Net income per Unit – diluted |  | $ | 2.20 |  |  | $ | 2.05 |  |  | $ | 3.54 |

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