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):

	Quarter Ended March 31,
	2018			2017
Numerator for net income per share – basic:
Net income	$	220,548		$	149,941
Allocation to Noncontrolling Interests – Operating Partnership		(8,059	)		(5,411	)
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties		(680	)		(788	)
Preferred distributions		(773	)		(773	)
Numerator for net income per share – basic	$	211,036		$	142,969
Numerator for net income per share – diluted:
Net income	$	220,548		$	149,941
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties		(680	)		(788	)
Preferred distributions		(773	)		(773	)
Numerator for net income per share – diluted	$	219,095		$	148,380
Denominator for net income per share – basic and diluted:
Denominator for net income per share – basic		367,800			366,605
Effect of dilutive securities:
OP Units		12,863			12,899
Long-term compensation shares/units		2,355			2,776
Denominator for net income per share – diluted		383,018			382,280
Net income per share – basic	$	0.57		$	0.39
Net income per share – diluted	$	0.57		$	0.39

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,
	2018			2017
Numerator for net income per Unit – basic and diluted:
Net income	$	220,548		$	149,941
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties		(680	)		(788	)
Allocation to Preference Units		(773	)		(773	)
Numerator for net income per Unit – basic and diluted	$	219,095		$	148,380
Denominator for net income per Unit – basic and diluted:
Denominator for net income per Unit – basic		380,663			379,504
Effect of dilutive securities:
Dilution for Units issuable upon assumed exercise/vesting of the Company’s long-term compensation shares/units		2,355			2,776
Denominator for net income per Unit – diluted		383,018			382,280
Net income per Unit – basic	$	0.57		$	0.39
Net income per Unit – diluted	$	0.57		$	0.39