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Earnings Per Common Share (Tables)
 6 Months Ended
Jun. 30, 2015
Earnings Per Share [Abstract]  
Schedule of Computation of Basic and Diluted Earnings Per Share
The following table sets forth the computation of basic and diluted earnings per share (amounts in thousands except per share amounts):
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
Numerator for earnings per common share - basic and diluted:
 

 
 

 
 
 
 
Income from continuing operations
$
12,616

 
$
6,688

 
$
26,246

 
$
23,413

Preferred distributions
(6,981
)
 
(6,982
)
 
(13,962
)
 
(18,133
)
Excess fair value of consideration over carrying vale of preferred shares
—

 
(16,205
)
 
—

 
(16,205
)
Income (loss) from continuing operations attributable to Equity Commonwealth common shareholders
5,635

 
(16,499
)
 
12,284

 
(10,925
)
Discontinued operations
—

 
(1,303
)
 
—

 
2,420

Numerator for net income (loss) per share - basic and diluted
$
5,635

 
$
(17,802
)
 
$
12,284


$
(8,505
)
 
 
 
 
 
 
 
 
Denominator for earnings per common share - basic and diluted:
 
 
 
 
 
 
 
Weighted average number of common shares outstanding - basic
129,733

 
123,812

 
129,714

 
121,121

Weighted average number of common shares outstanding - diluted(1)
130,537

 
123,812

 
130,205

 
121,121

 
 
 
 
 
 
 
 
Earnings per share - basic and diluted:
 
 
 
 
 
 
 
Income (loss) from continuing operations attributable to Equity Commonwealth common shareholders
$
0.04

 
$
(0.13
)
 
$
0.09

 
$
(0.09
)
Discontinued operations
—

 
(0.01
)
 
—

 
0.02

Net income (loss) per share - basic and diluted
$
0.04

 
$
(0.14
)
 
$
0.09

 
$
(0.07
)
 
 
 
 
 
 
 
 
Anti-dilutive securities:
 
 
 
 
 
 
 
Effect of Series D preferred shares; 6 1/2% cumulative convertible(2)
2,363

 
4,721

 
2,363

 
6,017


(1)
As of June 30, 2015, we had granted RSUs to certain employees, officers, and the chairman of the Board of Trustees.  The RSUs contain both service and market-based vesting components.  None of the RSUs have vested.  If the market-based vesting component was measured as of June 30, 2015, 803 common shares would be issued to the RSU holders, and no shares would have been issued for the other periods presented.  Using a weighted average basis, 804 and 491 common shares are reflected in diluted earnings per share for the three and six months ended June 30, 2015, respectively.
(2)
The Series D preferred shares are excluded from the diluted earnings per share calculation because including the Series D preferred shares would also require that the preferred distributions be added back to net income, resulting in anti-dilution during the periods presented.