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Earnings Per Common Share (Tables)
 12 Months Ended
Dec. 31, 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):
 
Year Ended December 31,
 
2018
 
2017
 
2016
Numerator for earnings per common share - basic:
 
 
 
 
 
Net income
$
272,908

 
$
29,666

 
$
232,894

Net income attributable to noncontrolling interest
(95
)
 
(10
)
 
—

Preferred distributions
(7,988
)
 
(7,988
)
 
(17,956
)
Excess fair value of consideration paid over carrying value of preferred shares
—

 
—

 
(9,609
)
Numerator for net income per share - basic
$
264,825


$
21,668

 
$
205,329

 
 
 
 
 
 
Numerator for earnings per common share - diluted:
 
 
 
 
 
Net income
$
272,908

 
$
29,666

 
$
232,894

Net income attributable to noncontrolling interest
(95
)
 
—

 
—

Preferred distributions
(7,988
)
 
(7,988
)
 
(17,956
)
Excess fair value of consideration paid over carrying value of preferred shares
—

 
—

 
(9,609
)
Numerator for net income per share - diluted
$
264,825

 
$
21,678

 
$
205,329

 
 
 
 
 
 
Denominator for earnings per common share - basic and diluted:
 
 
 
 
 
Weighted average number of common shares outstanding - basic(1)
122,314

 
124,125

 
125,474

RSUs(2)
956

 
912

 
1,294

LTIP Units(3)
115

 
92

 
—

Weighted average number of common shares outstanding - diluted
123,385

 
125,129

 
126,768

 
 
 
 
 
 
Net income per common share attributable to Equity Commonwealth common shareholders:
 
 
 
 
 
Basic
$
2.17

 
$
0.17

 
$
1.64

Diluted
$
2.15

 
$
0.17

 
$
1.62

 
 
 
 
 
 
Anti-dilutive securities:
 
 
 
 
 
Effect of Series D preferred shares; 6 1/2% cumulative convertible(4)
2,563

 
2,363

 
2,363

Effect of LTIP Units
43

 
—

 
—

Effect of OP Units(5)
1

 
—

 
—


(1)
The years ended December 31, 2018, 2017 and 2016, include 308, 33 and 0 weighted-average, unvested, earned RSUs, respectively.
(2)
Represents weighted-average number of common shares that would have been issued if the year-end was the measurement date for RSUs.
(3)
Represents the weighted-average dilutive shares issuable from LTIP Units if the year-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.