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Capital (Tables)

9 Months Ended

Sep. 30, 2021

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, 2021:

Period			Total Number of Shares Purchased						Weighted 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 2021			—						$	—					—						$	496,467
August 2021			403,831						$	10.54					403,831						$	492,212
September 2021			221,771						$	10.17					221,771						$	489,958

Summary of ERST Restricted Stock and LTIP Unit Activity

The following is a summary of ESRT restricted stock and LTIP unit activity for the nine months ended September 30, 2021:

			Restricted Stock						LTIP Units						Weighted Average Grant Fair Value
Unvested balance at December 31, 2020			217,700						7,750,284						$	6.94
Vested			(71,944)						(992,776)						11.53
Granted			123,359						2,230,579						8.52
Forfeited or unearned			(41,950)						(1,449,361)						5.67
Unvested balance at September 30, 2021			227,165						7,538,726						$	7.03

Earnings Per Unit

Earnings per unit for the three and nine months ended September 30, 2021 and 2020 is computed as follows (amounts in thousands, except per share amounts):

			Three Months Ended												Nine Months Ended
			September 30, 2021						September 30, 2020						September 30, 2021						September 30, 2020
Numerator:
Net loss			$	(10,183)					$	(12,269)					$	(8,963)					$	(23,599)
Private perpetual preferred unit distributions			(1,050)						(1,050)						(3,151)						(3,147)
Earnings allocated to unvested units			(114)						(342)						(227)						(985)
Net loss attributable to common unitholders – basic and diluted			$	(11,347)					$	(13,661)					$	(12,341)					$	(27,731)
Denominator:
Weighted average units outstanding – basic			277,716						280,940						277,829						285,640
Effect of dilutive securities:
Stock-based compensation plans			—						—						—						—
Weighted average units outstanding –- diluted			277,716						280,940						277,829						285,640
Earnings per share:
Basic			$	(0.04)					$	(0.05)					$	(0.04)					$	(0.10)
Diluted			$	(0.04)					$	(0.05)					$	(0.04)					$	(0.10)

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

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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

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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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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/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
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