XML 37 R26.htm IDEA: XBRL DOCUMENT
v3.20.2

Capital (Tables) | 9 Months Ended
--- | ---
Sep. 30, 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 September 30, 2020 and the month of October 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)
July 2020 | 656,318 |  |  | $ | 6.72 |  |  | 656,318 |  |  | $ | 380,982 |
August 2020 | — |  |  | $ | — |  |  | — |  |  | $ | 380,982 |
September 2020 | 477,620 |  |  | $ | 6.14 |  |  | 477,620 |  |  | $ | 378,050 |
October 2020 | 1,952,013 |  |  | $ | 6.21 |  |  | 1,952,013 |  |  | $ | 365,934 |
Summary of ERST Restricted Stock and LTIP Unit | The following is a summary of ESRT restricted stock and LTIP unit activity for the nine months ended September 30, 2020:
| Restricted Stock |  | LTIP Units |  | Weighted Average Grant Fair Value
Unvested balance at December 31, 2019 | 118,918 |  |  | 5,986,569 |  |  | $ | 9.73 |
Vested | (57,599 | ) |  | (1,052,692 | ) |  | 14.04 |
Granted | 161,449 |  |  | 5,011,693 |  |  | 5.43 |
Forfeited or unearned | (1,136 | ) |  | (2,201,453 | ) |  | 7.57 |
Unvested balance at September 30, 2020 | 221,632 |  |  | 7,744,117 |  |  | $ | 6.93 |
Earnings Per Unit | Earnings per unit for the three and nine months ended September 30, 2020 and 2019 is computed as follows (amounts in thousands, except per share amounts):
| Three Months Ended |  | Nine Months Ended
| September 30, 2020 |  | September 30, 2019 |  | September 30, 2020 |  | September 30, 2019
Numerator: |  |  |  |  |  |  |
Net income (loss) | $ | (12,269 | ) |  | $ | 26,784 |  |  | $ | (23,599 | ) |  | $ | 55,570 |
Private perpetual preferred unit distributions | (1,050 | ) |  | (234 | ) |  | (3,147 | ) |  | (702 | )
Earnings allocated to unvested units | (342 | ) |  | (243 | ) |  | (985 | ) |  | (646 | )
Net income (loss) attributable to common unitholders - basic and diluted | $ | (13,661 | ) |  | $ | 26,307 |  |  | $ | (27,731 | ) |  | $ | 54,222 |
Denominator: |  |  |  |  |  |  |
Weighted average units outstanding - basic | 280,940 |  |  | 298,151 |  |  | 285,640 |  |  | 298,117 |
Effect of dilutive securities: |  |  |  |  |  |  |
Stock-based compensation plans | — |  |  | — |  |  | — |  |  | — |
Weighted average units outstanding - diluted | 280,940 |  |  | 298,151 |  |  | 285,640 |  |  | 298,117 |
Earnings per share: |  |  |  |  |  |  |
Basic | $ | (0.05 | ) |  | $ | 0.09 |  |  | $ | (0.10 | ) |  | $ | 0.18 |
Diluted | $ | (0.05 | ) |  | $ | 0.09 |  |  | $ | (0.10 | ) |  | $ | 0.18 |

X
- 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
Name: | us-gaap_AcceleratedShareRepurchasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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=120381028&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=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration