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Earnings Per Share and Earnings Per Unit | 3 Months Ended
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Mar. 31, 2024
Earnings Per Share [Abstract] |
Earnings Per Share And Earnings Per Unit | 10. 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):
|  | Quarter Ended March 31, |
|  | 2024 |  |  | 2023 |
Numerator for net income per share – basic: |  |  |  |  |  |
Net income |  | $ | 305,032 |  |  | $ | 220,071 |
Allocation to Noncontrolling Interests – Operating Partnership |  |  | (8,275 | ) |  |  | (7,059 | )
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties |  |  | (970 | ) |  |  | (977 | )
Preferred distributions |  |  | (547 | ) |  |  | (772 | )
Premium on redemption of Preferred Shares |  |  | (1,444 | ) |  |  | — |
Numerator for net income per share – basic |  | $ | 293,796 |  |  | $ | 211,263 |
Numerator for net income per share – diluted: |  |  |  |  |  |
Net income |  | $ | 305,032 |  |  | $ | 220,071 |
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties |  |  | (970 | ) |  |  | (977 | )
Preferred distributions |  |  | (547 | ) |  |  | (772 | )
Premium on redemption of Preferred Shares |  |  | (1,444 | ) |  |  | — |
Numerator for net income per share – diluted |  | $ | 302,071 |  |  | $ | 218,322 |
Denominator for net income per share – basic and diluted: |  |  |  |  |  |
Denominator for net income per share – basic |  |  | 378,812 |  |  |  | 378,341 |
Effect of dilutive securities: |  |  |  |  |  |
OP Units |  |  | 10,669 |  |  |  | 11,510 |
Long-term compensation shares/units |  |  | 1,080 |  |  |  | 813 |
Denominator for net income per share – diluted |  |  | 390,561 |  |  |  | 390,664 |
Net income per share – basic |  | $ | 0.78 |  |  | $ | 0.56 |
Net income per share – diluted |  | $ | 0.77 |  |  | $ | 0.56 |
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):
|  | Quarter Ended March 31, |
|  | 2024 |  |  | 2023 |
Numerator for net income per Unit – basic and diluted: |  |  |  |  |  |
Net income |  | $ | 305,032 |  |  | $ | 220,071 |
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties |  |  | (970 | ) |  |  | (977 | )
Allocation to Preference Units |  |  | (547 | ) |  |  | (772 | )
Allocation to premium on redemption of Preference Units |  |  | (1,444 | ) |  |  | — |
Numerator for net income per Unit – basic and diluted |  | $ | 302,071 |  |  | $ | 218,322 |
Denominator for net income per Unit – basic and diluted: |  |  |  |  |  |
Denominator for net income per Unit – basic |  |  | 389,481 |  |  |  | 389,851 |
Effect of dilutive securities: |  |  |  |  |  |
Dilution for Units issuable upon assumed exercise/vesting of the Company’s long-term compensation shares/units |  |  | 1,080 |  |  |  | 813 |
Denominator for net income per Unit – diluted |  |  | 390,561 |  |  |  | 390,664 |
Net income per Unit – basic |  | $ | 0.78 |  |  | $ | 0.56 |
Net income per Unit – diluted |  | $ | 0.77 |  |  | $ | 0.56 |

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