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Earnings Per Share and Earnings Per Unit | 12 Months Ended
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Dec. 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):
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Numerator for net income per share – basic: |  |  |  |  |  |  |  |  |
Net income |  | $ | 1,070,975 |  |  | $ | 868,488 |  |  | $ | 806,995 |
Allocation to Noncontrolling Interests – Operating Partnership |  |  | (28,932 | ) |  |  | (26,710 | ) |  |  | (26,310 | )
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties |  |  | (6,212 | ) |  |  | (6,340 | ) |  |  | (3,774 | )
Preferred distributions |  |  | (1,613 | ) |  |  | (3,090 | ) |  |  | (3,090 | )
Premium on redemption of Preferred Shares |  |  | (1,444 | ) |  |  | — |  |  |  | — |
Numerator for net income per share – basic |  | $ | 1,032,774 |  |  | $ | 832,348 |  |  | $ | 773,821 |
Numerator for net income per share – diluted: |  |  |  |  |  |  |  |  |
Net income |  | $ | 1,070,975 |  |  | $ | 868,488 |  |  | $ | 806,995 |
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties |  |  | (6,212 | ) |  |  | (6,340 | ) |  |  | (3,774 | )
Preferred distributions |  |  | (1,613 | ) |  |  | (3,090 | ) |  |  | (3,090 | )
Premium on redemption of Preferred Shares |  |  | (1,444 | ) |  |  | — |  |  |  | — |
Numerator for net income per share – diluted |  | $ | 1,061,706 |  |  | $ | 859,058 |  |  | $ | 800,131 |
Denominator for net income per share – basic and diluted: |  |  |  |  |  |  |  |  |
Denominator for net income per share – basic |  |  | 378,795 |  |  |  | 378,773 |  |  |  | 376,209 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |
OP Units |  |  | 10,630 |  |  |  | 11,181 |  |  |  | 11,836 |
Long-term compensation shares/units |  |  | 1,315 |  |  |  | 943 |  |  |  | 1,402 |
ATM forward sales |  |  | — |  |  |  | — |  |  |  | 3 |
Denominator for net income per share – diluted |  |  | 390,740 |  |  |  | 390,897 |  |  |  | 389,450 |
Net income per share – basic |  | $ | 2.73 |  |  | $ | 2.20 |  |  | $ | 2.06 |
Net income per share – diluted |  | $ | 2.72 |  |  | $ | 2.20 |  |  | $ | 2.05 |
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, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Numerator for net income per Unit – basic and diluted: |  |  |  |  |  |  |  |  |
Net income |  | $ | 1,070,975 |  |  | $ | 868,488 |  |  | $ | 806,995 |
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties |  |  | (6,212 | ) |  |  | (6,340 | ) |  |  | (3,774 | )
Allocation to Preference Units |  |  | (1,613 | ) |  |  | (3,090 | ) |  |  | (3,090 | )
Allocation to premium on redemption of Preference Units |  |  | (1,444 | ) |  |  | — |  |  |  | — |
Numerator for net income per Unit – basic and diluted |  | $ | 1,061,706 |  |  | $ | 859,058 |  |  | $ | 800,131 |
Denominator for net income per Unit – basic and diluted: |  |  |  |  |  |  |  |  |
Denominator for net income per Unit – basic |  |  | 389,425 |  |  |  | 389,954 |  |  |  | 388,045 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |
Dilution for Units issuable upon assumed exercise/vesting of the Company’s long-term compensation shares/units |  |  | 1,315 |  |  |  | 943 |  |  |  | 1,402 |
ATM forward sales |  |  | — |  |  |  | — |  |  |  | 3 |
Denominator for net income per Unit – diluted |  |  | 390,740 |  |  |  | 390,897 |  |  |  | 389,450 |
Net income per Unit – basic |  | $ | 2.73 |  |  | $ | 2.20 |  |  | $ | 2.06 |
Net income per Unit – diluted |  | $ | 2.72 |  |  | $ | 2.20 |  |  | $ | 2.05 |

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