Earnings Per Common Share

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Earnings Per Common Share

Earnings Per Common 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 March 31,
	2019			2018
Numerator for earnings per common share - basic:
Net income	$	210,597		$	187,662
Net income attributable to noncontrolling interest	(79		)	(63		)
Preferred distributions	(1,997		)	(1,997		)
Numerator for net income per share - basic	$	208,521		$	185,602
Numerator for earnings per common share - diluted:
Net income	$	210,597		$	187,662
Net income attributable to noncontrolling interests	(79		)	—
Numerator for net income per share - diluted	$	210,518		$	187,662
Denominator for earnings per common share - basic and diluted:
Weighted average number of common shares outstanding - basic(1)	121,960			123,867
RSUs(2)	1,124			730
LTIP Units(3)	175			136
OP Units(4)	—			1
Series D preferred shares; 6 1/2% cumulative convertible	2,563			2,363
Weighted average number of common shares outstanding - diluted	125,822			127,097
Net income per common share attributable to Equity Commonwealth common shareholders:
Basic	$	1.71		$	1.50
Diluted	$	1.67		$	1.48
Anti-dilutive securities:
Effect of LTIP Units	42			—
Effect of OP Units(4)	4			—

(1) The three months ended March 31, 2019 and 2018, includes 187 and 307 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) Beneficial interests in the Operating Trust.