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Earnings Per Share and Earnings Per Unit (Tables) | 6 Months Ended
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Jun. 30, 2024
Schedule of Calculation of Numerator and Denominator in Earnings Per Share and Earnings Per Unit | 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, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Numerator for net income per share – basic: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 488,587 |  |  | $ | 364,933 |  |  | $ | 183,555 |  |  | $ | 144,862 |
Allocation to Noncontrolling Interests – Operating Partnership |  |  | (13,278 | ) |  |  | (11,613 | ) |  |  | (5,003 | ) |  |  | (4,554 | )
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties |  |  | (2,039 | ) |  |  | (2,082 | ) |  |  | (1,069 | ) |  |  | (1,105 | )
Preferred distributions |  |  | (902 | ) |  |  | (1,545 | ) |  |  | (355 | ) |  |  | (773 | )
Premium on redemption of Preferred Shares |  |  | (1,444 | ) |  |  | — |  |  |  | — |  |  |  | — |
Numerator for net income per share – basic |  | $ | 470,924 |  |  | $ | 349,693 |  |  | $ | 177,128 |  |  | $ | 138,430 |
Numerator for net income per share – diluted: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 488,587 |  |  | $ | 364,933 |  |  | $ | 183,555 |  |  | $ | 144,862 |
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties |  |  | (2,039 | ) |  |  | (2,082 | ) |  |  | (1,069 | ) |  |  | (1,105 | )
Preferred distributions |  |  | (902 | ) |  |  | (1,545 | ) |  |  | (355 | ) |  |  | (773 | )
Premium on redemption of Preferred Shares |  |  | (1,444 | ) |  |  | — |  |  |  | — |  |  |  | — |
Numerator for net income per share – diluted |  | $ | 484,202 |  |  | $ | 361,306 |  |  | $ | 182,131 |  |  | $ | 142,984 |
Denominator for net income per share – basic and diluted: |  |  |  |  |  |  |  |  |  |  |  |
Denominator for net income per share – basic |  |  | 378,699 |  |  |  | 378,492 |  |  |  | 378,578 |  |  |  | 378,642 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |
OP Units |  |  | 10,681 |  |  |  | 11,450 |  |  |  | 10,693 |  |  |  | 11,390 |
Long-term compensation shares/units |  |  | 1,168 |  |  |  | 1,121 |  |  |  | 1,271 |  |  |  | 1,155 |
Denominator for net income per share – diluted |  |  | 390,548 |  |  |  | 391,063 |  |  |  | 390,542 |  |  |  | 391,187 |
Net income per share – basic |  | $ | 1.24 |  |  | $ | 0.92 |  |  | $ | 0.47 |  |  | $ | 0.37 |
Net income per share – diluted |  | $ | 1.24 |  |  | $ | 0.92 |  |  | $ | 0.47 |  |  | $ | 0.37 |
ERPOP [Member] |
Schedule of Calculation of Numerator and Denominator in Earnings Per Share and Earnings Per Unit | 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, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Numerator for net income per Unit – basic and diluted: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 488,587 |  |  | $ | 364,933 |  |  | $ | 183,555 |  |  | $ | 144,862 |
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties |  |  | (2,039 | ) |  |  | (2,082 | ) |  |  | (1,069 | ) |  |  | (1,105 | )
Allocation to Preference Units |  |  | (902 | ) |  |  | (1,545 | ) |  |  | (355 | ) |  |  | (773 | )
Allocation to premium on redemption of Preference Units |  |  | (1,444 | ) |  |  | — |  |  |  | — |  |  |  | — |
Numerator for net income per Unit – basic and diluted |  | $ | 484,202 |  |  | $ | 361,306 |  |  | $ | 182,131 |  |  | $ | 142,984 |
Denominator for net income per Unit – basic and diluted: |  |  |  |  |  |  |  |  |  |  |  |
Denominator for net income per Unit – basic |  |  | 389,380 |  |  |  | 389,942 |  |  |  | 389,271 |  |  |  | 390,032 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |
Dilution for Units issuable upon assumed exercise/vesting of the Company’s long-term compensation shares/units |  |  | 1,168 |  |  |  | 1,121 |  |  |  | 1,271 |  |  |  | 1,155 |
Denominator for net income per Unit – diluted |  |  | 390,548 |  |  |  | 391,063 |  |  |  | 390,542 |  |  |  | 391,187 |
Net income per Unit – basic |  | $ | 1.24 |  |  | $ | 0.92 |  |  | $ | 0.47 |  |  | $ | 0.37 |
Net income per Unit – diluted |  | $ | 1.24 |  |  | $ | 0.92 |  |  | $ | 0.47 |  |  | $ | 0.37 |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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