Earnings Per Share and Earnings Per Unit (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Calculation of Numerator and Denominator in Earnings Per Share and Earnings Per Unit

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):

	Year Ended December 31,
	2020			2019			2018
Numerator for net income per share – basic:
Net income	$	962,501		$	1,009,708		$	685,192
Allocation to Noncontrolling Interests – Operating Partnership		(34,010	)		(36,034	)		(24,939	)
Net (income) loss attributable to Noncontrolling    Interests – Partially Owned Properties		(14,855	)		(3,297	)		(2,718	)
Preferred distributions		(3,090	)		(3,090	)		(3,090	)
Numerator for net income per share – basic	$	910,546		$	967,287		$	654,445
Numerator for net income per share – diluted:
Net income	$	962,501		$	1,009,708		$	685,192
Net (income) loss attributable to Noncontrolling    Interests – Partially Owned Properties		(14,855	)		(3,297	)		(2,718	)
Preferred distributions		(3,090	)		(3,090	)		(3,090	)
Numerator for net income per share – diluted	$	944,556		$	1,003,321		$	679,384
Denominator for net income per share – basic and diluted:
Denominator for net income per share – basic		371,791			370,461			368,052
Effect of dilutive securities:
OP Units		13,003			12,907			12,869
Long-term compensation shares/units		1,080			2,965			2,774
Denominator for net income per share – diluted		385,874			386,333			383,695
Net income per share – basic	$	2.45		$	2.61		$	1.78
Net income per share – diluted	$	2.45		$	2.60		$	1.77

ERPOP [Member]

Schedule of Calculation of Numerator and Denominator in Earnings Per Share and Earnings Per Unit

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):

	Year Ended December 31,
	2020			2019			2018
Numerator for net income per Unit – basic and diluted:
Net income	$	962,501		$	1,009,708		$	685,192
Net (income) loss attributable to Noncontrolling    Interests – Partially Owned Properties		(14,855	)		(3,297	)		(2,718	)
Allocation to Preference Units		(3,090	)		(3,090	)		(3,090	)
Numerator for net income per Unit – basic and diluted	$	944,556		$	1,003,321		$	679,384
Denominator for net income per Unit – basic and diluted:
Denominator for net income per Unit – basic		384,794			383,368			380,921
Effect of dilutive securities:
Dilution for Units issuable upon assumed exercise/vesting    of the Company’s long-term compensation shares/units		1,080			2,965			2,774
Denominator for net income per Unit – diluted		385,874			386,333			383,695
Net income per Unit – basic	$	2.45		$	2.61		$	1.78
Net income per Unit – diluted	$	2.45		$	2.60		$	1.77