Earnings Per Share and Earnings Per Unit

9 Months Ended

Sep. 30, 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):

	Nine Months Ended September 30,						Quarter Ended September 30,
	2019			2018			2019			2018
Numerator for net income per share – basic:
Net income	$	708,402		$	562,804		$	277,846		$	223,846
Allocation to Noncontrolling Interests – Operating Partnership		(25,339	)		(20,517	)		(9,910	)		(8,159	)
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties		(2,450	)		(1,939	)		(830	)		(750	)
Preferred distributions		(2,318	)		(2,318	)		(773	)		(773	)
Numerator for net income per share – basic	$	678,295		$	538,030		$	266,333		$	214,164
Numerator for net income per share – diluted:
Net income	$	708,402		$	562,804		$	277,846		$	223,846
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties		(2,450	)		(1,939	)		(830	)		(750	)
Preferred distributions		(2,318	)		(2,318	)		(773	)		(773	)
Numerator for net income per share – diluted	$	703,634		$	558,547		$	276,243		$	222,323
Denominator for net income per share – basic and diluted:
Denominator for net income per share – basic		370,227			367,920			370,768			368,028
Effect of dilutive securities:
OP Units		12,915			12,871			12,941			12,884
Long-term compensation shares/units		3,035			2,642			3,187			2,972
Denominator for net income per share – diluted		386,177			383,433			386,896			383,884
Net income per share – basic	$	1.83		$	1.46		$	0.72		$	0.58
Net income per share – diluted	$	1.82		$	1.46		$	0.71		$	0.58

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):

	Nine Months Ended September 30,						Quarter Ended September 30,
	2019			2018			2019			2018
Numerator for net income per Unit – basic and diluted:
Net income	$	708,402		$	562,804		$	277,846		$	223,846
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties		(2,450	)		(1,939	)		(830	)		(750	)
Allocation to Preference Units		(2,318	)		(2,318	)		(773	)		(773	)
Numerator for net income per Unit – basic and diluted	$	703,634		$	558,547		$	276,243		$	222,323
Denominator for net income per Unit – basic and diluted:
Denominator for net income per Unit – basic		383,142			380,791			383,709			380,912
Effect of dilutive securities:
Dilution for Units issuable upon assumed exercise/vesting of the Company’s long-term compensation shares/units		3,035			2,642			3,187			2,972
Denominator for net income per Unit – diluted		386,177			383,433			386,896			383,884
Net income per Unit – basic	$	1.83		$	1.46		$	0.72		$	0.58
Net income per Unit – diluted	$	1.82		$	1.46		$	0.71		$	0.58