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Earnings Per Share and Earnings Per Unit (Tables) | 9 Months Ended
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Sep. 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):
|  | Nine Months Ended September 30, |  |  | Quarter Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Numerator for net income per share – basic: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 637,104 |  |  | $ | 546,219 |  |  | $ | 148,517 |  |  | $ | 181,286 |
Allocation to Noncontrolling Interests – Operating Partnership |  |  | (17,290 | ) |  |  | (17,174 | ) |  |  | (4,012 | ) |  |  | (5,561 | )
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties |  |  | (3,098 | ) |  |  | (5,299 | ) |  |  | (1,059 | ) |  |  | (3,217 | )
Preferred distributions |  |  | (1,258 | ) |  |  | (2,318 | ) |  |  | (356 | ) |  |  | (773 | )
Premium on redemption of Preferred Shares |  |  | (1,444 | ) |  |  | — |  |  |  | — |  |  |  | — |
Numerator for net income per share – basic |  | $ | 614,014 |  |  | $ | 521,428 |  |  | $ | 143,090 |  |  | $ | 171,735 |
Numerator for net income per share – diluted: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 637,104 |  |  | $ | 546,219 |  |  | $ | 148,517 |  |  | $ | 181,286 |
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties |  |  | (3,098 | ) |  |  | (5,299 | ) |  |  | (1,059 | ) |  |  | (3,217 | )
Preferred distributions |  |  | (1,258 | ) |  |  | (2,318 | ) |  |  | (356 | ) |  |  | (773 | )
Premium on redemption of Preferred Shares |  |  | (1,444 | ) |  |  | — |  |  |  | — |  |  |  | — |
Numerator for net income per share – diluted |  | $ | 631,304 |  |  | $ | 538,602 |  |  | $ | 147,102 |  |  | $ | 177,296 |
Denominator for net income per share – basic and diluted: |  |  |  |  |  |  |  |  |  |  |  |
Denominator for net income per share – basic |  |  | 378,718 |  |  |  | 378,614 |  |  |  | 378,756 |  |  |  | 378,853 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |
OP Units |  |  | 10,661 |  |  |  | 11,377 |  |  |  | 10,623 |  |  |  | 11,234 |
Long-term compensation shares/units |  |  | 1,309 |  |  |  | 1,144 |  |  |  | 1,647 |  |  |  | 1,264 |
Denominator for net income per share – diluted |  |  | 390,688 |  |  |  | 391,135 |  |  |  | 391,026 |  |  |  | 391,351 |
Net income per share – basic |  | $ | 1.62 |  |  | $ | 1.38 |  |  | $ | 0.38 |  |  | $ | 0.45 |
Net income per share – diluted |  | $ | 1.62 |  |  | $ | 1.38 |  |  | $ | 0.38 |  |  | $ | 0.45 |
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):
|  | Nine Months Ended September 30, |  |  | Quarter Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Numerator for net income per Unit – basic and diluted: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 637,104 |  |  | $ | 546,219 |  |  | $ | 148,517 |  |  | $ | 181,286 |
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties |  |  | (3,098 | ) |  |  | (5,299 | ) |  |  | (1,059 | ) |  |  | (3,217 | )
Allocation to Preference Units |  |  | (1,258 | ) |  |  | (2,318 | ) |  |  | (356 | ) |  |  | (773 | )
Allocation to premium on redemption of Preference Units |  |  | (1,444 | ) |  |  | — |  |  |  | — |  |  |  | — |
Numerator for net income per Unit – basic and diluted |  | $ | 631,304 |  |  | $ | 538,602 |  |  | $ | 147,102 |  |  | $ | 177,296 |
Denominator for net income per Unit – basic and diluted: |  |  |  |  |  |  |  |  |  |  |  |
Denominator for net income per Unit – basic |  |  | 389,379 |  |  |  | 389,991 |  |  |  | 389,379 |  |  |  | 390,087 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |
Dilution for Units issuable upon assumed exercise/vesting of the Company’s long-term compensation shares/units |  |  | 1,309 |  |  |  | 1,144 |  |  |  | 1,647 |  |  |  | 1,264 |
Denominator for net income per Unit – diluted |  |  | 390,688 |  |  |  | 391,135 |  |  |  | 391,026 |  |  |  | 391,351 |
Net income per Unit – basic |  | $ | 1.62 |  |  | $ | 1.38 |  |  | $ | 0.38 |  |  | $ | 0.45 |
Net income per Unit – diluted |  | $ | 1.62 |  |  | $ | 1.38 |  |  | $ | 0.38 |  |  | $ | 0.45 |

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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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