Earnings Per Share and Earnings Per Unit

3 Months Ended

Mar. 31, 2019

Earnings Per Share And Earnings Per Unit

11.	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,
	2019			2018
Numerator for net income per share – basic:
Net income	$	109,257		$	220,548
Allocation to Noncontrolling Interests – Operating Partnership		(3,919	)		(8,059	)
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties		(799	)		(680	)
Preferred distributions		(773	)		(773	)
Numerator for net income per share – basic	$	103,766		$	211,036
Numerator for net income per share – diluted:
Net income	$	109,257		$	220,548
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties		(799	)		(680	)
Preferred distributions		(773	)		(773	)
Numerator for net income per share – diluted	$	107,685		$	219,095
Denominator for net income per share – basic and diluted:
Denominator for net income per share – basic		369,558			367,800
Effect of dilutive securities:
OP Units		12,919			12,863
Long-term compensation shares/units		2,707			2,355
Denominator for net income per share – diluted		385,184			383,018
Net income per share – basic	$	0.28		$	0.57
Net income per share – diluted	$	0.28		$	0.57

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,
	2019			2018
Numerator for net income per Unit – basic and diluted:
Net income	$	109,257		$	220,548
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties		(799	)		(680	)
Allocation to Preference Units		(773	)		(773	)
Numerator for net income per Unit – basic and diluted	$	107,685		$	219,095
Denominator for net income per Unit – basic and diluted:
Denominator for net income per Unit – basic		382,477			380,663
Effect of dilutive securities:
Dilution for Units issuable upon assumed exercise/vesting of the Company’s long-term compensation shares/units		2,707			2,355
Denominator for net income per Unit – diluted		385,184			383,018
Net income per Unit – basic	$	0.28		$	0.57
Net income per Unit – diluted	$	0.28		$	0.57