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Capital (Tables) | 6 Months Ended
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Jun. 30, 2023
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, 2023:
Period | Total Number of Shares Purchased |  | Weighted Average Price Paid per Share |  | Maximum Approximate Dollar Value Available for Future Purchase (in thousands)
April 1 - April 30, 2023 | 1,214,770 |  |  | $ | 6.09 |  |  | $ | 396,736 |
May 1 - May 31, 2023 | 2,700 |  |  | $ | 6.00 |  |  | $ | 396,720 |
June 1 - June 30, 2023 | — |  |  | $ | — |  |  | $ | 396,720 |
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, 2023:
| Restricted Stock |  | Time-based LTIPs |  | Market-based LTIPs |  | Performance-based LTIPs |  | Weighted Average Grant Fair Value
Unvested balance at December 31, 2022 | 359,293 |  |  | 2,713,522 |  |  | 4,070,537 |  |  | 510,989 |  |  | $ | 6.69 |
Vested | (106,910) |  |  | (1,146,682) |  |  | (311,815) |  |  | (1,222) |  |  | 7.66 |
Granted | 370,465 |  |  | 1,693,689 |  |  | 946,398 |  |  | 771,180 |  |  | 5.65 |
Forfeited or unearned | (8,413) |  |  | — |  |  | (1,692,910) |  |  | (2,751) |  |  | 4.29 |
Unvested balance at June 30, 2023 | 614,435 |  |  | 3,260,529 |  |  | 3,012,210 |  |  | 1,278,196 |  |  | $ | 6.52 |
Schedule of Earnings Per Unit | Earnings per unit for the three and six months ended June 30, 2023 and 2022 is computed as follows (amounts in thousands, except per share amounts):
| Three Months Ended |  | Six Months Ended
| June 30, 2023 |  | June 30, 2022 |  | June 30, 2023 |  | June 30, 2022
Numerator: |  |  |  |  |  |  |
Net income | $ | 36,955 |  |  | $ | 48,695 |  |  | $ | 48,649 |  |  | $ | 31,474 |
Private perpetual preferred unit distributions | (1,051) |  |  | (1,051) |  |  | (2,101) |  |  | (2,101) |
Net (income) loss attributable to non-controlling interests in other partnerships | (1) |  |  | 159 |  |  | 42 |  |  | 222 |
Earnings allocated to unvested units | — |  |  | (670) |  |  | — |  |  | (759) |
Net income attributable to common unitholders – basic and diluted | $ | 35,903 |  |  | $ | 47,133 |  |  | $ | 46,590 |  |  | $ | 28,836 |
Denominator: |  |  |  |  |  |  |
Weighted average units outstanding – basic | 262,903 |  |  | 270,078 |  |  | 263,694 |  |  | 271,834 |
Effect of dilutive securities: |  |  |  |  |  |  |
Stock-based compensation plans | 1,293 |  |  | 7 |  |  | 1,042 |  |  | 3 |
Weighted average units outstanding –- diluted | 264,196 |  |  | 270,085 |  |  | 264,736 |  |  | 271,837 |
Earnings per share: |  |  |  |  |  |  |
Basic | $ | 0.14 |  |  | $ | 0.17 |  |  | $ | 0.18 |  |  | $ | 0.11 |
Diluted | $ | 0.14 |  |  | $ | 0.17 |  |  | $ | 0.18 |  |  | $ | 0.11 |

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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 -Topic 505 -SubTopic 30 -Name Accounting Standards Codification -Section 25 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481138/505-30-25-5 + Details
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