Earnings Per Common Share

3 Months Ended

Mar. 31, 2020

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,
	2020		2019
Numerator for earnings per common share - basic:
Net income	$	425,507	$	210,597
Net income attributable to noncontrolling interest	(748)		(79)
Preferred distributions	(1,997)		(1,997)


Numerator for net income per share - basic	$	422,762	$	208,521

Numerator for earnings per common share - diluted:
Net income	$	425,507	$	210,597
Net income attributable to noncontrolling interests	(748)		(79)


Numerator for net income per share - diluted	$	424,759	$	210,518

Denominator for earnings per common share - basic and diluted:
Weighted average number of common shares outstanding - basic(1)	122,148		121,960
RSUs(2)	1,524		1,124
LTIP Units(3)	76		175

Series D preferred shares; 6.50% cumulative convertible	2,857		2,563
Weighted average number of common shares outstanding - diluted	126,605		125,822

Net income per common share attributable to Equity Commonwealth common shareholders:
Basic	$	3.46	$	1.71
Diluted	$	3.35	$	1.67

Anti-dilutive securities:


Effect of LTIP Units	89		42
Effect of OP Units(4)	73		4

(1) The three months ended March 31, 2020 and 2019, include 177 and 187 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 unvested, unearned 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.