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Capital (Tables)

9 Months Ended

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)

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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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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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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