Earnings Per Share and Earnings Per Unit

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Earnings Per Share And Earnings Per Unit

10.Earnings 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,
	2024			2023
Numerator for net income per share – basic:
Net income	$	305,032		$	220,071
Allocation to Noncontrolling Interests – Operating Partnership		(8,275	)		(7,059	)
Net (income) loss attributable to Noncontrolling    Interests – Partially Owned Properties		(970	)		(977	)
Preferred distributions		(547	)		(772	)
Premium on redemption of Preferred Shares		(1,444	)		—
Numerator for net income per share – basic	$	293,796		$	211,263
Numerator for net income per share – diluted:
Net income	$	305,032		$	220,071
Net (income) loss attributable to Noncontrolling    Interests – Partially Owned Properties		(970	)		(977	)
Preferred distributions		(547	)		(772	)
Premium on redemption of Preferred Shares		(1,444	)		—
Numerator for net income per share – diluted	$	302,071		$	218,322
Denominator for net income per share – basic and diluted:
Denominator for net income per share – basic		378,812			378,341
Effect of dilutive securities:
OP Units		10,669			11,510
Long-term compensation shares/units		1,080			813
Denominator for net income per share – diluted		390,561			390,664
Net income per share – basic	$	0.78		$	0.56
Net income per share – diluted	$	0.77		$	0.56

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,
	2024			2023
Numerator for net income per Unit – basic and diluted:
Net income	$	305,032		$	220,071
Net (income) loss attributable to Noncontrolling    Interests – Partially Owned Properties		(970	)		(977	)
Allocation to Preference Units		(547	)		(772	)
Allocation to premium on redemption of Preference Units		(1,444	)		—
Numerator for net income per Unit – basic and diluted	$	302,071		$	218,322
Denominator for net income per Unit – basic and diluted:
Denominator for net income per Unit – basic		389,481			389,851
Effect of dilutive securities:
Dilution for Units issuable upon assumed exercise/vesting    of the Company’s long-term compensation shares/units		1,080			813
Denominator for net income per Unit – diluted		390,561			390,664
Net income per Unit – basic	$	0.78		$	0.56
Net income per Unit – diluted	$	0.77		$	0.56