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Earnings Per Common Share (Tables)
 9 Months Ended
Sep. 30, 2017
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 September 30,
 
Nine Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
Numerator for earnings per common share - basic:
 

 
 

 
 
 
 
Net income
$
33,224

 
$
86,388

 
$
51,235

 
$
220,634

Net income attributable to noncontrolling interest
(12
)
 
—

 
(18
)
 
—

Preferred distributions
(1,997
)
 
(1,997
)
 
(5,991
)
 
(15,959
)
Excess fair value of consideration paid over carrying value of preferred shares
—

 
—

 
—

 
(9,609
)
Numerator for net income per share - basic
$
31,215

 
$
84,391

 
$
45,226


$
195,066

 
 
 
 
 
 
 
 
Numerator for earnings per common share - diluted:
 
 
 
 
 
 
 
Net income
$
33,224

 
$
86,388

 
$
51,235

 
$
220,634

Preferred distributions
(1,997
)
 
(1,997
)
 
(5,991
)
 
(15,959
)
Excess fair value of consideration paid over carrying value of preferred shares
—

 
—

 
—

 
(9,609
)
Numerator for net income per share - diluted
$
31,227

 
$
84,391

 
$
45,244

 
$
195,066

 
 
 
 
 
 
 
 
Denominator for earnings per common share - basic and diluted:
 
 
 
 
 
 
 
Weighted average number of common shares outstanding - basic
124,089

 
125,533

 
124,068

 
125,627

RSUs
983

 
1,035

 
1,023

 
1,382

LTIP Units
103

 
—

 
103

 
—

Weighted average number of common shares outstanding - diluted(1)
125,175

 
126,568

 
125,194

 
127,009

 
 
 
 
 
 
 
 
Net income per common share attributable to Equity Commonwealth common shareholders:
 
 
 
 
 
 
 
Basic
$
0.25

 
$
0.67

 
$
0.36

 
$
1.55

Diluted
$
0.25

 
$
0.67

 
$
0.36

 
$
1.54

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

 
2,363

 
2,363

 
2,363


(1)
As of September 30, 2017, we had granted RSUs and LTIP Units to certain employees, officers, and trustees.  The RSUs and LTIP Units contain service and market-based vesting components.  None of the RSUs or LTIP Units have vested. If the market-based vesting component of these awards was measured as of September 30, 2017, and 2016, 1,085 and 1,035 common shares would be issued, 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.