| Earnings Per Share And Earnings Per Unit [Text Block] |
Earning Per Share and Earnings Per Unit
Equity Residential
The following tables set forth the computation of net income per share – basic and net income per share – diluted for the Company (amounts in thousands except per share amounts): | | | | | | | | | | | | Quarter Ended March 31, | | | 2012 | | 2011 | Numerator for net income per share – basic: | | | | | Income (loss) from continuing operations | | $ | 17,389 |
| | $ | (8,913 | ) | Allocation to Noncontrolling Interests – Operating Partnership, net | | (582 | ) | | 543 |
| Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties | | (450 | ) | | 40 |
| Preferred distributions | | (3,466 | ) | | (3,466 | ) | Income (loss) from continuing operations available to Common Shares, net of Noncontrolling Interests | | 12,891 |
| | (11,796 | ) | Discontinued operations, net of Noncontrolling Interests | | 128,942 |
| | 135,661 |
| Numerator for net income per share – basic | | $ | 141,833 |
| | $ | 123,865 |
| Numerator for net income per share – diluted (1): | | | | | Income from continuing operations | | $ | 17,389 |
| | | Net (income) attributable to Noncontrolling Interests – Partially Owned Properties | | (450 | ) | | | Preferred distributions | | (3,466 | ) | | | Income from continuing operations available to Common Shares | | 13,473 |
| | | Discontinued operations, net | | 134,778 |
| | | Numerator for net income per share – diluted (1) | | $ | 148,251 |
| | $ | 123,865 |
| Denominator for net income per share – basic and diluted (1): | | | | | Denominator for net income per share – basic | | 298,805 |
| | 292,895 |
| Effect of dilutive securities: | | | | | OP Units | | 13,206 |
| |
| Long-term compensation shares/units | | 3,219 |
| |
| Denominator for net income per share – diluted (1) | | 315,230 |
| | 292,895 |
| Net income per share – basic | | $ | 0.47 |
| | $ | 0.42 |
| Net income per share – diluted | | $ | 0.47 |
| | $ | 0.42 |
| Net income per share – basic: | | | | | Income (loss) from continuing operations available to Common Shares, net of Noncontrolling Interests | | $ | 0.043 |
| | $ | (0.040 | ) | Discontinued operations, net of Noncontrolling Interests | | 0.432 |
| | 0.463 |
| Net income per share – basic | | $ | 0.475 |
| | $ | 0.423 |
| Net income per share – diluted (1): | | | | | Income (loss) from continuing operations available to Common Shares | | $ | 0.043 |
| | $ | (0.040 | ) | Discontinued operations, net | | 0.427 |
| | 0.463 |
| Net income per share – diluted | | $ | 0.470 |
| | $ | 0.423 |
|
| | (1) | Potential common shares issuable from the assumed conversion of OP Units and the exercise/vesting of long-term compensation shares/units are automatically anti-dilutive and therefore excluded from the diluted earnings per share calculation as the Company had a loss from continuing operations for the quarter ended March 31, 2011. |
The effect of the Common Shares that could ultimately be issued upon the conversion/exchange of the Company’s $650.0 million exchangeable senior notes ($482.5 million outstanding were redeemed on August 18, 2011) was not included in the computation of diluted earnings per share because the effects would be anti-dilutive.
ERP Operating Limited Partnership
The following tables set forth the computation of net income per Unit – basic and net income per Unit – diluted for the Operating Partnership (amounts in thousands except per Unit amounts): | | | | | | | | | | | | Quarter Ended March 31, | | | 2012 | | 2011 | Numerator for net income per Unit – basic and diluted (1): | | | | | Income (loss) from continuing operations | | $ | 17,389 |
| | $ | (8,913 | ) | Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties | | (450 | ) | | 40 |
| Allocation to Preference Units | | (3,466 | ) | | (3,466 | ) | Income (loss) from continuing operations available to Units | | 13,473 |
| | (12,339 | ) | Discontinued operations, net | | 134,778 |
| | 141,979 |
| Numerator for net income per Unit – basic and diluted (1) | | $ | 148,251 |
| | $ | 129,640 |
| Denominator for net income per Unit – basic and diluted (1): | | | | | Denominator for net income per Unit – basic | | 312,011 |
| | 306,248 |
| Effect of dilutive securities: | | | | | Dilution for Units issuable upon assumed exercise/vesting of the Company’s long-term compensation shares/units | | 3,219 |
| |
| Denominator for net income per Unit – diluted (1) | | 315,230 |
| | 306,248 |
| Net income per Unit – basic | | $ | 0.47 |
| | $ | 0.42 |
| Net income per Unit – diluted | | $ | 0.47 |
| | $ | 0.42 |
| Net income per Unit – basic: | | | | | Income (loss) from continuing operations available to Units | | $ | 0.043 |
| | $ | (0.040 | ) | Discontinued operations, net | | 0.432 |
| | 0.463 |
| Net income per Unit – basic | | $ | 0.475 |
| | $ | 0.423 |
| Net income per Unit – diluted (1): | | | | | Income (loss) from continuing operations available to Units | | $ | 0.043 |
| | $ | (0.040 | ) | Discontinued operations, net | | 0.427 |
| | 0.463 |
| Net income per Unit – diluted | | $ | 0.470 |
| | $ | 0.423 |
|
| | (1) | Potential Units issuable from the assumed exercise/vesting of the Company’s long-term compensation shares/units are automatically anti-dilutive and therefore excluded from the diluted earnings per Unit calculation as the Operating Partnership had a loss from continuing operations for the quarter ended March 31, 2011. |
The effect of the Common Shares/OP Units that could ultimately be issued upon the conversion/exchange of the Company’s $650.0 million exchangeable senior notes ($482.5 million outstanding were redeemed on August 18, 2011) was not included in the computation of diluted earnings per Unit because the effects would be anti-dilutive. |