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Capital (Tables)

6 Months Ended

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

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
-Topic 505
-SubTopic 30
-Name Accounting Standards Codification
-Section 25
-Paragraph 5
-Publisher FASB
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Tabular disclosure of share-based payment arrangement.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 718
-Publisher FASB
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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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-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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