Earnings Per Share and Earnings Per Unit (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of Calculation of Numerator and Denominator in Earnings Per Share and Earnings Per Unit

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):

	Six Months Ended June 30,						Quarter Ended June 30,
	2023			2022			2023			2022
Numerator for net income per share – basic:
Net income	$	364,933		$	306,476		$	144,862		$	232,678
Allocation to Noncontrolling Interests – Operating Partnership		(11,613	)		(10,027	)		(4,554	)		(7,633	)
Net (income) loss attributable to Noncontrolling    Interests – Partially Owned Properties		(2,082	)		(1,583	)		(1,105	)		(944	)
Preferred distributions		(1,545	)		(1,545	)		(773	)		(773	)
Numerator for net income per share – basic	$	349,693		$	293,321		$	138,430		$	223,328
Numerator for net income per share – diluted:
Net income	$	364,933		$	306,476		$	144,862		$	232,678
Net (income) loss attributable to Noncontrolling    Interests – Partially Owned Properties		(2,082	)		(1,583	)		(1,105	)		(944	)
Preferred distributions		(1,545	)		(1,545	)		(773	)		(773	)
Numerator for net income per share – diluted	$	361,306		$	303,348		$	142,984		$	230,961
Denominator for net income per share – basic and diluted:
Denominator for net income per share – basic		378,492			375,640			378,642			375,769
Effect of dilutive securities:
OP Units		11,450			11,891			11,390			11,895
Long-term compensation shares/units		1,121			1,863			1,155			1,698
ATM forward sales		—			69			—			1
Denominator for net income per share – diluted		391,063			389,463			391,187			389,363
Net income per share – basic	$	0.92		$	0.78		$	0.37		$	0.59
Net income per share – diluted	$	0.92		$	0.78		$	0.37		$	0.59

ERPOP [Member]

Schedule of Calculation of Numerator and Denominator in Earnings Per Share and Earnings Per Unit

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):

	Six Months Ended June 30,						Quarter Ended June 30,
	2023			2022			2023			2022
Numerator for net income per Unit – basic and diluted:
Net income	$	364,933		$	306,476		$	144,862		$	232,678
Net (income) loss attributable to Noncontrolling    Interests – Partially Owned Properties		(2,082	)		(1,583	)		(1,105	)		(944	)
Allocation to Preference Units		(1,545	)		(1,545	)		(773	)		(773	)
Numerator for net income per Unit – basic and diluted	$	361,306		$	303,348		$	142,984		$	230,961
Denominator for net income per Unit – basic and diluted:
Denominator for net income per Unit – basic		389,942			387,531			390,032			387,664
Effect of dilutive securities:
Dilution for Units issuable upon assumed exercise/vesting    of the Company’s long-term compensation shares/units		1,121			1,863			1,155			1,698
ATM forward sales		—			69			—			1
Denominator for net income per Unit – diluted		391,063			389,463			391,187			389,363
Net income per Unit – basic	$	0.92		$	0.78		$	0.37		$	0.59
Net income per Unit – diluted	$	0.92		$	0.78		$	0.37		$	0.59