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Capital (Tables) | 3 Months Ended
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Mar. 31, 2020
Equity [Abstract] |
Schedule of Equity Securities Repurchased | The following table summarizes ESRT's purchases of equity securities in each of the three months ended March 31, 2020 and the month of April 2020:
Period | Total Number of Shares Purchased |  | Average Price Paid per Share |  | Total Number of Shares Purchased as Part of Publicly Announced Plan |  | Maximum Approximate Dollar Value Available for Future Purchase (in thousands)
March 2020 | 6,570,778 |  |  | $ | 9.54 |  |  | 6,570,778 |  |  | $ | 437,334 |
April 2020 | 2,345,129 |  |  | $ | 8.66 |  |  | 2,345,129 |  |  | $ | 417,023 |
Summary of ERST Restricted Stock and LTIP Unit | The following is a summary of ESRT restricted stock and LTIP unit activity for the three months ended March 31, 2020:
| Restricted Stock |  | LTIP Units |  | Weighted Average Grant Fair Value
Unvested balance at December 31, 2019 | 118,918 |  |  | 5,986,569 |  |  | $ | 9.73 |
Vested | (42,702 | ) |  | (638,907 | ) |  | 15.54 |
Granted | 158,806 |  |  | 5,344,748 |  |  | 5.23 |
Forfeited or unearned | — |  |  | (841,587 | ) |  | 11.09 |
Unvested balance at March 31, 2020 | 235,022 |  |  | 9,850,823 |  |  | $ | 6.76 |
Earnings Per Unit | Earnings per unit for the three months ended March 31, 2020 and 2019 is computed as follows (amounts in thousands, except per share amounts):
| Three Months Ended
| March 31, 2020 |  | March 31, 2019
Numerator: |  |  |
Net income | $ | 8,288 |  |  | $ | 9,856 |
Private perpetual preferred unit distributions | (1,050 | ) |  | (234 | )
Earnings allocated to unvested units | (257 | ) |  | (153 | )
Net income attributable to common unitholders - basic and diluted | $ | 6,981 |  |  | $ | 9,469 |
Denominator: |  |  |
Weighted average units outstanding - basic | 292,645 |  |  | 298,049 |
Effect of dilutive securities: |  |  |
Stock-based compensation plans | — |  |  | — |
Weighted average units outstanding - diluted | 292,645 |  |  | 298,049 |
Earnings per share: |  |  |
Basic | $ | 0.02 |  |  | $ | 0.03 |
Diluted | $ | 0.02 |  |  | $ | 0.03 |

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- Definition Tabular disclosure of accelerated share repurchase (ASR) programs. An ASR is a combination of transactions that permits an entity to purchase a targeted number of shares immediately with the final purchase price of those shares determined by an average market price over a fixed period of time. An accelerated share repurchase program is intended to combine the immediate share retirement benefits of a tender offer with the market impact and pricing benefits of a disciplined daily open market stock repurchase program. ASRs can be disclosed as part of stockholders' equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 25 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6405686&loc=d3e22802-112653 + Details
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- Definition Tabular disclosure of share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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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://fasb.org/us-gaap/role/ref/legacyRef -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 + Details
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