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Earning Per Share and Earnings Per Unit
 6 Months Ended
Jun. 30, 2017
Earnings Per Share [Abstract]  
Earning Per Share And Earnings Per Unit

10.

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):

 

 

 

Six Months Ended June 30,

 

 

Quarter Ended June 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Numerator for net income per share – basic:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

354,101

 

 

$

3,960,353

 

 

$

204,160

 

 

$

228,365

 

Allocation to Noncontrolling Interests – Operating

   Partnership, net

 

 

(12,765

)

 

 

(152,093

)

 

 

(7,354

)

 

 

(8,779

)

Net (income) attributable to Noncontrolling

   Interests – Partially Owned Properties

 

 

(1,553

)

 

 

(1,545

)

 

 

(765

)

 

 

(781

)

Preferred distributions

 

 

(1,546

)

 

 

(1,545

)

 

 

(773

)

 

 

(772

)

Income from continuing operations available to

   Common Shares, net of Noncontrolling Interests

 

 

338,237

 

 

 

3,805,170

 

 

 

195,268

 

 

 

218,033

 

Discontinued operations, net of Noncontrolling Interests

 

 

—

 

 

 

(118

)

 

 

—

 

 

 

34

 

Numerator for net income per share – basic

 

$

338,237

 

 

$

3,805,052

 

 

$

195,268

 

 

$

218,067

 

Numerator for net income per share – diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

354,101

 

 

$

3,960,353

 

 

$

204,160

 

 

$

228,365

 

Net (income) attributable to Noncontrolling

   Interests – Partially Owned Properties

 

 

(1,553

)

 

 

(1,545

)

 

 

(765

)

 

 

(781

)

Preferred distributions

 

 

(1,546

)

 

 

(1,545

)

 

 

(773

)

 

 

(772

)

Income from continuing operations available to Common Shares

 

 

351,002

 

 

 

3,957,263

 

 

 

202,622

 

 

 

226,812

 

Discontinued operations, net

 

 

—

 

 

 

(122

)

 

 

—

 

 

 

35

 

Numerator for net income per share – diluted

 

$

351,002

 

 

$

3,957,141

 

 

$

202,622

 

 

$

226,847

 

Denominator for net income per share – basic and diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator for net income per share – basic

 

 

366,713

 

 

 

364,820

 

 

 

366,820

 

 

 

365,047

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OP Units

 

 

12,906

 

 

 

13,792

 

 

 

12,913

 

 

 

13,887

 

Long-term compensation shares/units

 

 

2,886

 

 

 

3,400

 

 

 

2,959

 

 

 

3,131

 

Denominator for net income per share – diluted

 

 

382,505

 

 

 

382,012

 

 

 

382,692

 

 

 

382,065

 

Net income per share – basic

 

$

0.92

 

 

$

10.43

 

 

$

0.53

 

 

$

0.60

 

Net income per share – diluted

 

$

0.92

 

 

$

10.36

 

 

$

0.53

 

 

$

0.59

 

Net income per share – basic:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations available to

   Common Shares, net of Noncontrolling Interests

 

$

0.92

 

 

$

10.43

 

 

$

0.53

 

 

$

0.60

 

Discontinued operations, net of Noncontrolling Interests

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Net income per share – basic

 

$

0.92

 

 

$

10.43

 

 

$

0.53

 

 

$

0.60

 

Net income per share – diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations available to Common Shares

 

$

0.92

 

 

$

10.36

 

 

$

0.53

 

 

$

0.59

 

Discontinued operations, net

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Net income per share – diluted

 

$

0.92

 

 

$

10.36

 

 

$

0.53

 

 

$

0.59

 

 

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):

 

 

 

Six Months Ended June 30,

 

 

Quarter Ended June 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Numerator for net income per Unit – basic and diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

354,101

 

 

$

3,960,353

 

 

$

204,160

 

 

$

228,365

 

Net (income) attributable to Noncontrolling Interests – Partially

   Owned Properties

 

 

(1,553

)

 

 

(1,545

)

 

 

(765

)

 

 

(781

)

Allocation to Preference Units

 

 

(1,546

)

 

 

(1,545

)

 

 

(773

)

 

 

(772

)

Income from continuing operations available to Units

 

 

351,002

 

 

 

3,957,263

 

 

 

202,622

 

 

 

226,812

 

Discontinued operations, net

 

 

—

 

 

 

(122

)

 

 

—

 

 

 

35

 

Numerator for net income per Unit – basic and diluted

 

$

351,002

 

 

$

3,957,141

 

 

$

202,622

 

 

$

226,847

 

Denominator for net income per Unit – basic and diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator for net income per Unit – basic

 

 

379,619

 

 

 

378,612

 

 

 

379,733

 

 

 

378,934

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dilution for Units issuable upon assumed exercise/vesting

   of the Company’s long-term compensation shares/units

 

 

2,886

 

 

 

3,400

 

 

 

2,959

 

 

 

3,131

 

Denominator for net income per Unit – diluted

 

 

382,505

 

 

 

382,012

 

 

 

382,692

 

 

 

382,065

 

Net income per Unit – basic

 

$

0.92

 

 

$

10.43

 

 

$

0.53

 

 

$

0.60

 

Net income per Unit – diluted

 

$

0.92

 

 

$

10.36

 

 

$

0.53

 

 

$

0.59

 

Net income per Unit – basic:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations available to Units

 

$

0.92

 

 

$

10.43

 

 

$

0.53

 

 

$

0.60

 

Discontinued operations, net

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Net income per Unit – basic

 

$

0.92

 

 

$

10.43

 

 

$

0.53

 

 

$

0.60

 

Net income per Unit – diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations available to Units

 

$

0.92

 

 

$

10.36

 

 

$

0.53

 

 

$

0.59

 

Discontinued operations, net

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Net income per Unit – diluted

 

$

0.92

 

 

$

10.36

 

 

$

0.53

 

 

$

0.59