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Earnings Per Common Share (Tables)
 9 Months Ended
Sep. 30, 2018
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,
 
2018
 
2017
 
2018
 
2017
Numerator for earnings per common share - basic:
 

 
 

 
 
 
 
Net income
$
32,777

 
$
33,224

 
$
257,486

 
$
51,235

Net income attributable to noncontrolling interest
(13
)
 
(12
)
 
(90
)
 
(18
)
Preferred distributions
(1,997
)
 
(1,997
)
 
(5,991
)
 
(5,991
)
Numerator for net income per share - basic
$
30,767

 
$
31,215

 
$
251,405


$
45,226

 
 
 
 
 
 
 
 
Numerator for earnings per common share - diluted:
 
 
 
 
 
 
 
Net income
$
32,777

 
$
33,224

 
$
257,486

 
$
51,235

Net income attributable to noncontrolling interests
(13
)
 
—

 
(90
)
 
—

Preferred distributions
(1,997
)
 
(1,997
)
 
(5,991
)
 
(5,991
)
Numerator for net income per share - diluted
$
30,767

 
$
31,227

 
$
251,405

 
$
45,244

 
 
 
 
 
 
 
 
Denominator for earnings per common share - basic and diluted:
 
 
 
 
 
 
 
Weighted average number of common shares outstanding - basic(1)
121,845

 
124,089

 
122,504

 
124,068

RSUs(2)
894

 
983

 
795

 
1,023

LTIP Units(3)
112

 
103

 
90

 
103

Weighted average number of common shares outstanding - diluted
122,851

 
125,175

 
123,389

 
125,194

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

 
$
0.25

 
$
2.05

 
$
0.36

Diluted
$
0.25

 
$
0.25

 
$
2.04

 
$
0.36

 
 
 
 
 
 
 
 
Anti-dilutive securities:
 
 
 
 
 
 
 
Effect of Series D preferred shares; 6 1/2% cumulative convertible(4)
2,363

 
2,363

 
2,363

 
2,363

Effect of LTIP Units
45

 
—

 
43

 
—

Effect of OP Units(5)
1

 
—

 
1

 
—


(1)
The three months ended September 30, 2018 and 2017, includes 362 and 0 weighted-average, unvested, earned RSUs, respectively, and the nine months ended September 30, 2018 and 2017, includes 344 and 0 weighted-average, unvested, earned RSUs, respectively.
(2)
Represents weighted-average number of common shares that would have been issued if the quarter-end was the measurement date for RSUs.
(3)
Represents the weighted-average dilutive shares issuable from LTIP Units if the quarter-end was the measurement date for the periods shown.
(4)
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.
(5)
Beneficial interests in the Operating Trust.