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Earnings Per Share and Earnings Per Unit | 6 Months Ended
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Jun. 30, 2025
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):
|  | Six Months Ended June 30, |  |  | Quarter Ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Numerator for net income per share – basic: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 463,583 |  |  | $ | 488,587 |  |  | $ | 198,785 |  |  | $ | 183,555 |
Allocation to Noncontrolling Interests – Operating Partnership |  |  | (12,328 | ) |  |  | (13,278 | ) |  |  | (5,226 | ) |  |  | (5,003 | )
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties |  |  | (2,307 | ) |  |  | (2,039 | ) |  |  | (1,203 | ) |  |  | (1,069 | )
Preferred distributions |  |  | (711 | ) |  |  | (902 | ) |  |  | (355 | ) |  |  | (355 | )
Premium on redemption of Preferred Shares |  |  | — |  |  |  | (1,444 | ) |  |  | — |  |  |  | — |
Numerator for net income per share – basic |  | $ | 448,237 |  |  | $ | 470,924 |  |  | $ | 192,001 |  |  | $ | 177,128 |
Numerator for net income per share – diluted: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 463,583 |  |  | $ | 488,587 |  |  | $ | 198,785 |  |  | $ | 183,555 |
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties |  |  | (2,307 | ) |  |  | (2,039 | ) |  |  | (1,203 | ) |  |  | (1,069 | )
Preferred distributions |  |  | (711 | ) |  |  | (902 | ) |  |  | (355 | ) |  |  | (355 | )
Premium on redemption of Preferred Shares |  |  | — |  |  |  | (1,444 | ) |  |  | — |  |  |  | — |
Numerator for net income per share – diluted |  | $ | 460,565 |  |  | $ | 484,202 |  |  | $ | 197,227 |  |  | $ | 182,131 |
Denominator for net income per share – basic and diluted: |  |  |  |  |  |  |  |  |  |  |  |
Denominator for net income per share – basic |  |  | 379,359 |  |  |  | 378,699 |  |  |  | 379,508 |  |  |  | 378,578 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |
OP Units |  |  | 10,420 |  |  |  | 10,681 |  |  |  | 10,329 |  |  |  | 10,693 |
Long-term compensation shares/units |  |  | 1,566 |  |  |  | 1,168 |  |  |  | 1,661 |  |  |  | 1,271 |
Denominator for net income per share – diluted |  |  | 391,345 |  |  |  | 390,548 |  |  |  | 391,498 |  |  |  | 390,542 |
Net income per share – basic |  | $ | 1.18 |  |  | $ | 1.24 |  |  | $ | 0.51 |  |  | $ | 0.47 |
Net income per share – diluted |  | $ | 1.18 |  |  | $ | 1.24 |  |  | $ | 0.50 |  |  | $ | 0.47 |
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):
|  | Six Months Ended June 30, |  |  | Quarter Ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Numerator for net income per Unit – basic and diluted: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 463,583 |  |  | $ | 488,587 |  |  | $ | 198,785 |  |  | $ | 183,555 |
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties |  |  | (2,307 | ) |  |  | (2,039 | ) |  |  | (1,203 | ) |  |  | (1,069 | )
Allocation to Preference Units |  |  | (711 | ) |  |  | (902 | ) |  |  | (355 | ) |  |  | (355 | )
Allocation to premium on redemption of Preference Units |  |  | — |  |  |  | (1,444 | ) |  |  | — |  |  |  | — |
Numerator for net income per Unit – basic and diluted |  | $ | 460,565 |  |  | $ | 484,202 |  |  | $ | 197,227 |  |  | $ | 182,131 |
Denominator for net income per Unit – basic and diluted: |  |  |  |  |  |  |  |  |  |  |  |
Denominator for net income per Unit – basic |  |  | 389,779 |  |  |  | 389,380 |  |  |  | 389,837 |  |  |  | 389,271 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |
Dilution for Units issuable upon assumed exercise/vesting of the Company’s long-term compensation shares/units |  |  | 1,566 |  |  |  | 1,168 |  |  |  | 1,661 |  |  |  | 1,271 |
Denominator for net income per Unit – diluted |  |  | 391,345 |  |  |  | 390,548 |  |  |  | 391,498 |  |  |  | 390,542 |
Net income per Unit – basic |  | $ | 1.18 |  |  | $ | 1.24 |  |  | $ | 0.51 |  |  | $ | 0.47 |
Net income per Unit – diluted |  | $ | 1.18 |  |  | $ | 1.24 |  |  | $ | 0.50 |  |  | $ | 0.47 |

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