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Capital (Tables) | 9 Months Ended
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Sep. 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 September 30, 2022:
Period | Total Number of Shares Purchased |  | Weighted Average Price Paid per Share |  | Maximum Approximate Dollar Value Available for Future Purchase (in thousands)
July 2022 | 184,045 |  |  | $ | 6.92 |  |  | $ | 434,286 |
August 2022 | 621,314 |  |  | $ | 7.32 |  |  | $ | 429,736 |
September 2022 | 1,761,561 |  |  | $ | 6.97 |  |  | $ | 417,455 |
Schedule 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, 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 | (68,867) |  |  | (1,052,119) |  |  | — |  |  | — |  |  | 9.95 |
Granted | 232,448 |  |  | 1,514,434 |  |  | 780,155 |  |  | 578,943 |  |  | 7.21 |
Forfeited or unearned | (17,830) |  |  | — |  |  | (1,311,839) |  |  | — |  |  | 7.21 |
Unvested balance at September 30, 2022 | 360,159 |  |  | 2,961,907 |  |  | 4,507,450 |  |  | 578,943 |  |  | $ | 6.67 |
Schedule of Earnings Per Unit | Earnings per unit for the three and nine months ended September 30, 2022 and 2021 is computed as follows (amounts in thousands, except per share amounts):
| Three Months Ended |  | Nine Months Ended
| September 30, 2022 |  | September 30, 2021 |  | September 30, 2022 |  | September 30, 2021
Numerator: |  |  |  |  |  |  |
Net income (loss) | $ | 10,118 |  |  | $ | (10,183) |  |  | $ | 41,592 |  |  | $ | (8,963) |
Private perpetual preferred unit distributions | (1,050) |  |  | (1,050) |  |  | (3,151) |  |  | (3,151) |
Net loss attributable to non-controlling interests in other partnerships | 49 |  |  | — |  |  | 271 |  |  | — |
Earnings allocated to unvested units | — |  |  | (114) |  |  | — |  |  | (227) |
Net income (loss) attributable to common unitholders – basic and diluted | $ | 9,117 |  |  | $ | (11,347) |  |  | $ | 38,712 |  |  | $ | (12,341) |
Denominator: |  |  |  |  |  |  |
Weighted average units outstanding – basic | 266,035 |  |  | 277,716 |  |  | 269,880 |  |  | 277,829 |
Effect of dilutive securities: |  |  |  |  |  |  |
Stock-based compensation plans | 1,086 |  |  | — |  |  | 1,086 |  |  | — |
Weighted average units outstanding –- diluted | 267,121 |  |  | 277,716 |  |  | 270,966 |  |  | 277,829 |
Earnings per share: |  |  |  |  |  |  |
Basic | $ | 0.03 |  |  | $ | (0.04) |  |  | $ | 0.14 |  |  | $ | (0.04) |
Diluted | $ | 0.03 |  |  | $ | (0.04) |  |  | $ | 0.14 |  |  | $ | (0.04) |

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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 https://asc.fasb.org/extlink&oid=6405686&loc=d3e22802-112653 + Details
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