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Capital (Tables)

12 Months Ended

Dec. 31, 2017

Stockholders' Equity Note Disclosure, Disclosure of Compensation Related Costs, Share-based Payments and Earnings Per Share [Abstract]

Dividends Declared

The following table summarizes the distributions paid on our operating partnership units for the years ended December 31, 2017, 2016 and 2015:

Record Date		Payment Date		Amount per Operating Partnership Unit
December 15, 2017		December 29, 2017		$0.105
September 15, 2017		September 29, 2017		$0.105
June 15, 2017		June 30, 2017		$0.105
March 15, 2017		March 31, 2017		$0.105
December 15, 2016		December 29, 2016		$0.105
September 19, 2016		September 30, 2016		$0.105
June 15, 2016		June 30, 2016		$0.105
March 16, 2016		March 31, 2016		$0.085
December 15, 2015		December 31, 2015		$0.085
September 15, 2015		September 30, 2015		$0.085
June 15, 2015		June 30, 2015		$0.085
March 13, 2015		March 31, 2015		$0.085

Summary of Restricted Stock and Long-Term Incentive Plan Activity

The following is a summary of ESRT restricted stock and LTIP unit activity for the year ended December 31, 2017:

	ESRT Restricted Stock			LTIP Units			Weighted Average Grant Fair Value
Unvested balance at December 31, 2016	107,793			2,881,629			$	10.01
Vested	(48,900	)		(588,367	)		11.97
Granted	34,407			1,372,574			13.77
Forfeited or unearned	(2,509	)		(77,227	)		5.36
Unvested balance at December 31, 2017	90,791			3,588,609			$	11.20

Schedule of Earnings Per Unit, Basic and Diluted

Earnings per unit for the years ended December 31, 2017, 2016 and 2015 is computed as follows (amounts in thousands, except per share amounts):

	For the Year Ended December 31,
	2017				2016				2015
Numerator:
Net income	$	118,253			$	107,250			$	79,928
Private perpetual preferred unit distributions	(936		)		(936		)		(936		)
Earnings allocated to unvested shares	(760		)		(747		)		(550		)
Net income attributable to common unitholders - basic and diluted	$	116,557			$	105,567			$	78,442
Denominator:
Weighted average units outstanding - basic	296,455				276,848				265,914
Effect of dilutive securities:
Stock-based compensation plans	775				454				—
Exchangeable senior notes	819				266				—
Weighted average shares outstanding - diluted	298,049				277,568				265,914
Earnings per unit - basic and diluted	$	0.39			$	0.38			$	0.29

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- Definition

Stockholders' Equity Note Disclosure, Disclosure of Compensation Related Costs, Share-based Payments and Earnings Per Share [Abstract]

+ References

No definition available.

+ Details

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- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5047-113901

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- Definition

Tabular disclosure of information related to dividends declared, including paid and unpaid dividends.

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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/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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