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Earnings Per Common Share (Tables)
 12 Months Ended
Dec. 31, 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):
 
 
Year Ended December 31,
 
2015
 
2014
 
2013
Numerator for earnings per common share - basic and diluted:
 
 
 
 
 
Income (loss) from continuing operations
$
99,857

 
$
21,206

 
$
(37,318
)
Net income attributable to noncontrolling interest in consolidated subsidiary
—

 
—

 
(20,093
)
Preferred distributions
(27,924
)
 
(32,095
)
 
(44,604
)
Excess fair value of consideration over carrying vale of preferred shares
—

 
(16,205
)
 
—

Income (loss) from continuing operations attributable to Equity Commonwealth common shareholders
71,933

 
(27,094
)
 
(102,015
)
Discontinued operations
—

 
2,806

 
(119,649
)
Numerator for net income (loss) per share - basic and diluted
$
71,933


$
(24,288
)
 
$
(221,664
)
 
 
 
 
 
 
Denominator for earnings per common share - basic and diluted:
 
 
 
 
 
Weighted average number of common shares outstanding - basic
128,621

 
125,163

 
112,378

Weighted average number of common shares outstanding - diluted(1)
129,437

 
125,163

 
112,378

 
 
 
 
 
 
Earnings per share - basic:
 
 
 
 
 
Income (loss) from continuing operations attributable to Equity Commonwealth common shareholders
$
0.56

 
$
(0.21
)
 
$
(0.91
)
Discontinued operations
—

 
0.02

 
(1.06
)
Net income (loss) per share - basic
$
0.56

 
$
(0.19
)
 
$
(1.97
)
 
 
 
 
 
 
Earnings per share - diluted:
 
 
 
 
 
Income (loss) from continuing operations attributable to Equity Commonwealth common shareholders
$
0.56

 
$
(0.21
)
 
$
(0.91
)
Discontinued operations
—

 
0.02

 
(1.06
)
Net income (loss) per share - diluted
$
0.56

 
$
(0.19
)
 
$
(1.97
)
 
 
 
 
 
 
Anti-dilutive securities:
 
 
 
 
 
Effect of Series D preferred shares; 6 1/2% cumulative convertible(2)
2,363

 
4,175

 
7,298


(1)
As of December 31, 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 December 31, 2015, 1,143 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, 816 common shares are reflected in diluted earnings per share for the year ended ended December 31, 2015.
(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.