Earnings Per Share and Earnings Per Unit

9 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

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,
	2021			2020			2021			2020
Numerator for net income per share – basic:
Net income	$	835,736		$	699,517		$	447,332		$	95,365
Allocation to Noncontrolling Interests – Operating Partnership		(27,903	)		(24,624	)		(14,847	)		(3,376	)
Net (income) loss attributable to Noncontrolling    Interests – Partially Owned Properties		(1,957	)		(14,113	)		(534	)		(703	)
Preferred distributions		(2,318	)		(2,318	)		(773	)		(773	)
Numerator for net income per share – basic	$	803,558		$	658,462		$	431,178		$	90,513
Numerator for net income per share – diluted:
Net income	$	835,736		$	699,517		$	447,332		$	95,365
Net (income) loss attributable to Noncontrolling    Interests – Partially Owned Properties		(1,957	)		(14,113	)		(534	)		(703	)
Preferred distributions		(2,318	)		(2,318	)		(773	)		(773	)
Numerator for net income per share – diluted	$	831,461		$	683,086		$	446,025		$	93,889
Denominator for net income per share – basic and diluted:
Denominator for net income per share – basic		373,474			371,749			374,308			371,869
Effect of dilutive securities:
OP Units		12,367			13,010			12,019			13,002
Long-term compensation shares/units		1,801			1,214			2,047			781
Denominator for net income per share – diluted		387,642			385,973			388,374			385,652
Net income per share – basic	$	2.15		$	1.77		$	1.15		$	0.24
Net income per share – diluted	$	2.14		$	1.77		$	1.15		$	0.24

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,
	2021			2020			2021			2020
Numerator for net income per Unit – basic and diluted:
Net income	$	835,736		$	699,517		$	447,332		$	95,365
Net (income) loss attributable to Noncontrolling    Interests – Partially Owned Properties		(1,957	)		(14,113	)		(534	)		(703	)
Allocation to Preference Units		(2,318	)		(2,318	)		(773	)		(773	)
Numerator for net income per Unit – basic and diluted	$	831,461		$	683,086		$	446,025		$	93,889
Denominator for net income per Unit – basic and diluted:
Denominator for net income per Unit – basic		385,841			384,759			386,327			384,871
Effect of dilutive securities:
Dilution for Units issuable upon assumed exercise/vesting    of the Company’s long-term compensation shares/units		1,801			1,214			2,047			781
Denominator for net income per Unit – diluted		387,642			385,973			388,374			385,652
Net income per Unit – basic	$	2.15		$	1.77		$	1.15		$	0.24
Net income per Unit – diluted	$	2.14		$	1.77		$	1.15		$	0.24