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Capital (Tables)

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Schedule of Equity Securities Repurchased

The following table summarizes ESRT's purchases of equity securities in each of the three months ended June 30, 2022:

Period			Total Number of Shares Purchased						Weighted Average Price Paid per Share						Maximum Approximate Dollar Value Available for Future Purchase (in thousands)
April 2022			2,308,026						$	8.95					$	467,350
May 2022			1,050,731						$	8.09					$	458,849
June 2022			3,252,202						$	7.16					$	435,560

Schedule of ERST Restricted Stock and LTIP Unit Activity

The following is a summary of ESRT restricted stock and LTIP unit activity for the six months ended June 30, 2022:

			Restricted Stock						Time-based LTIPs						Market-based LTIPs						Performance-based LTIPs						Weighted Average Grant Fair Value
Unvested balance at December 31, 2021			214,408						2,499,592						5,039,134						—						$	7.02
Vested			(67,654)						(1,052,119)						—						—						9.95
Granted			232,448						1,514,434						780,155						578,943						7.21
Forfeited or unearned			(9,874)						—						(1,311,839)						—						7.20
Unvested balance at June 30, 2022			369,328						2,961,907						4,507,450						578,943						$	6.67

Schedule of Earnings Per Unit

Earnings per unit for the three and six months ended June 30, 2022 and 2021 is computed as follows (amounts in thousands, except per share amounts):

			Three Months Ended												Six Months Ended
			June 30, 2022						June 30, 2021						June 30, 2022						June 30, 2021
Numerator:
Net income			$	48,695					$	4,411					$	31,474					$	1,220
Private perpetual preferred unit distributions			(1,051)						(1,051)						(2,101)						(2,101)
Net loss attributable to non-controlling interests in other partnerships			159						—						222						—
Earnings allocated to unvested units			(670)						(113)						(759)						(113)
Net income (loss) attributable to common unitholders – basic and diluted			$	47,133					$	3,247					$	28,836					$	(994)
Denominator:
Weighted average units outstanding – basic			270,078						277,893						271,834						277,887
Effect of dilutive securities:
Stock-based compensation plans			7						543						3						—
Weighted average units outstanding –- diluted			270,085						278,436						271,837						277,887
Earnings per share:
Basic			$	0.17					$	0.01					$	0.11					$	0.00
Diluted			$	0.17					$	0.01					$	0.11					$	0.00

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
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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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5047-113901

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
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