Earnings Per Share and Earnings Per Unit

6 Months Ended

Jun. 30, 2020

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):

	Six Months Ended June 30,						Quarter Ended June 30,
	2020			2019			2020			2019
Numerator for net income per share – basic:
Net income	$	604,152		$	430,556		$	271,481		$	321,299
Allocation to Noncontrolling Interests – Operating Partnership		(21,248	)		(15,429	)		(9,713	)		(11,510	)
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties		(13,410	)		(1,620	)		(880	)		(821	)
Preferred distributions		(1,545	)		(1,545	)		(772	)		(772	)
Numerator for net income per share – basic	$	567,949		$	411,962		$	260,116		$	308,196
Numerator for net income per share – diluted:
Net income	$	604,152		$	430,556		$	271,481		$	321,299
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties		(13,410	)		(1,620	)		(880	)		(821	)
Preferred distributions		(1,545	)		(1,545	)		(772	)		(772	)
Numerator for net income per share – diluted	$	589,197		$	427,391		$	269,829		$	319,706
Denominator for net income per share – basic and diluted:
Denominator for net income per share – basic		371,689			369,952			371,795			370,342
Effect of dilutive securities:
OP Units		13,013			12,902			13,023			12,885
Long-term compensation shares/units		1,570			2,790			1,095			2,880
Denominator for net income per share – diluted		386,272			385,644			385,913			386,107
Net income per share – basic	$	1.53		$	1.11		$	0.70		$	0.83
Net income per share – diluted	$	1.53		$	1.11		$	0.70		$	0.83

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,
	2020			2019			2020			2019
Numerator for net income per Unit – basic and diluted:
Net income	$	604,152		$	430,556		$	271,481		$	321,299
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties		(13,410	)		(1,620	)		(880	)		(821	)
Allocation to Preference Units		(1,545	)		(1,545	)		(772	)		(772	)
Numerator for net income per Unit – basic and diluted	$	589,197		$	427,391		$	269,829		$	319,706
Denominator for net income per Unit – basic and diluted:
Denominator for net income per Unit – basic		384,702			382,854			384,818			383,227
Effect of dilutive securities:
Dilution for Units issuable upon assumed exercise/vesting of the Company’s long-term compensation shares/units		1,570			2,790			1,095			2,880
Denominator for net income per Unit – diluted		386,272			385,644			385,913			386,107
Net income per Unit – basic	$	1.53		$	1.11		$	0.70		$	0.83
Net income per Unit – diluted	$	1.53		$	1.11		$	0.70		$	0.83