Earnings Per Share and Earnings Per Unit (Tables)

9 Months Ended

Sep. 30, 2021

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):

	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

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):

	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